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☆ China FDI: Foreign investors are really frustrated with country’s economic challenges
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —The world’s second largest economy is struggling to attract foreign companies and investments, despite Beijing’s efforts to address its myriad economic challenges, according to new data from China. A gauge of foreign direct investment (FDI) into China has slipped into the red for the first time since 1998, underscoring the country’s failure to stem capital outflows. It suggests foreign companies may be taking their money out of the country, instead of re-investing in their operations. Direct investment liabilities include profits belonging to foreign companies that have not yet been repatriated or distributed to shareholders, as well as foreign investment in financial institutions, according to the government. Late last month, China’s legislature approved one trillion yuan ($137 billion) in sovereign bonds to support the economy.

Persons: Refinitiv, Ant, “, Xu jingbai, ICHPL, Xi Jinping, ”, ” Carlo D’Andrea, Shanghai —, JP Morgan, Tesla Organizations: Hong Kong CNN, State Administration of Foreign Exchange, Commerce Ministry, Vanguard, BlackRock, CNN, Bloomberg, China, European Union Chamber of Commerce, People’s Bank of, HSBC, American Chamber of Commerce Locations: China, Hong Kong, Shanghai, Beijing, outflows, People’s Bank of China

☆ China issues new bonds to prop up economy as global investors flee at 'unprecedented' pace
▼ + stars: | 2023-10-25 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Foreign fund outflows from China’s so-called A-share market have entered “an unprecedented stage,” Morgan Stanley strategists wrote in a recent note. A-shares are yuan-denominated shares of mainland China firms that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange. This seems highly unlikely under Xi.”Even Chinese investors seem to be plagued by a growing lack of faith in the future of the country’s economy. It will hit the economy in an all-around and indiscriminate way,” the fund said in a letter to its investors, which went viral. “Xi might wield vast control in China, but he can’t compel global investors to buy into his vision or risk their capital,” he said.

Persons: ” Morgan Stanley, ”, Alex Capri, Xu jingbai, ICHPL, Brock Silvers, Beijing’s “, Apple’s iPhones, George Magnus, Joe Biden, Goldman Sachs, Derek Scissors, Xi, Craig Singleton, Xi Jinping, “ Organizations: Hong Kong CNN — Investors, Shanghai Stock Exchange, Shenzhen Stock Exchange, Connect, CSI, Foundation, National University of Singapore Business School, Chinese Communist Party, Kaiyuan, “, China’s Taiwan Affairs Office, China Centre of Oxford University, Global, People’s Bank of China, National People’s, Central Huijin Investment, American Enterprise Institute, Dingtai, Foundation for Defense of Democracies Locations: China, Hong Kong, Beijing, China’s, Shanghai, Shenzhen, Hai'an, China's Jiangsu, Capri, United States, ”

☆ China’s sitting on a goldmine of genetic data – and it doesn’t want to share
▼ + stars: | 2023-08-11 | by ( Jessie Yeung | ) edition.cnn.com time to read: +14 min

The national survey and restrictions on foreign access are part of new regulations on China’s genetic resources, which came into effect in July. The national genetic surveyBiobanking in China – meaning the collection of biological samples – is still “very fragmented,” and in an “embryonic stage,” said Zhang. But these concerns aren’t new – and the national genetic survey seems to be geared more toward scientific research than other purposes, several experts agreed. But China has another motive, too: establishing what some experts call “genomic sovereignty,” meaning full control of the genetic material within their country. While many other countries also have laws regulating the use and transfer of their population’s genetic material, few are as strict as China’s.

Persons: Guang Niu, ”, Joy Y, Zhang, you’re, Wei Liang, ICHPL, Anna Puglisi, Puglisi, States –, Katherine Wang, ” –, Wang, “, Sun, Xi Jinping, Jiankui, Anthony Wallace, ” Zhang Organizations: Hong Kong CNN, Central South University, Centre for Global Science, biosciences, Shanxi Province Reproductive Science, Communist Party, Georgetown’s Center for Security, Emerging Technology, Gray, Group, CNN, Ministry of Science, Technology, National Health Service, National Institutes of Health, NIH Locations: Hong Kong, China, Changsha, Shanxi Province, Taiyuan, States, “, Wuhan, Xinijang, Xinjiang, Beijing, AFP, Harvard

☆ Country Garden stock reaches record low, Chinese property giant flags loss of up to $7.6 billion as it nears default
▼ + stars: | 2023-08-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Country Garden warned investors in a Hong Kong stock exchange filing Thursday that it would likely record a loss of 45 billion to 55 billion Chinese yuan (about $6.2 billion to $7.6 billion) for the six months through June. The disclosure lays bare the financial woes currently facing Country Garden, a massive builder of hundreds of thousands of homes annually across China. Country Garden did not immediately respond to a request for comment. As of early afternoon in Hong Kong Friday, its stock had reached a record low of 95 Hong Kong cents, below its previous low of 98 Hong Kong cents reached in October 2008. Cash crunchEarlier this week, Country Garden stoked concerns by missing two bond payments, according to analysts.

Persons: ” Morningstar, Jeff Zhang, Kaven Tsang, ”, Zhang, Morningstar, Yang Huiyan, Yang, won’t, Moody’s, Fang xing, ICHPL, Alfredo Montufar, “ Organizations: Hong Kong CNN, Garden, CNN, Hong, China’s, “, Hong Kong, Bloomberg Locations: Hong Kong, China, Foshan, Guangdong province, Real

☆ This 15-mile, $6.7B bridge is a symbol of China’s ambitions, and its problems
▼ + stars: | 2023-05-23 | by ( Chris Lau | ) edition.cnn.com time to read: +9 min

The Greater Bay Area is home to 68 million people, covers 21,800 square miles and encompasses 11 cities: Hong Kong, Macao and nine others including Zhongshan and Shenzhen. The Shenzhen-Zhongshan bridge project features artificial islands and an undersea tunnel. That bridge connects the mainland Chinese city of Zhuhai with gambling hub Macao and leading financial center Hong Kong. An aerial view of the world's longest cross-sea bridge, the Hong Kong-Zhuhai-Macao Bridge, in Zhuhai city, south China's Guangdong province, 19 March 2019. The latest bridge would connect two mainland Chinese cities that were already under the same regulations, he pointed out.

☆ Meet the 4 men tipped to run China’s economy
▼ + stars: | 2023-03-01 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —The team of Communist Party officials running China’s economy is about to get a major makeover. They include the four men tipped to manage the world’s second biggest economy: Li Qiang as premier, Ding Xuexiang as executive vice premier, He Lifeng as vice premier and Zhu Hexin as the new central bank chief. That puts the 63-year-old in line to succeed Premier Li Keqiang when he steps down during the upcoming congress. Li would be the first premier since the Mao era not to have previously worked at the State Council, China’s cabinet, as vice premier, analysts say. Stringer/ICHPL Imaginechina/AP/FileThe 68-year-old would succeed Vice Premier Liu He, who led China’s negotiations with the United States during trade talks in 2018 and 2019.

☆ Blizzard China: Millions of players lose access to 'World of Warcraft' and other games as it goes dark
▼ + stars: | 2023-01-24 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Millions of players in China have lost access to the iconic “World of Warcraft” franchise and other popular video games, as Blizzard Entertainment’s servers in the country went offline after two decades. That was underscored in recent days, as Chinese fans expressed their disbelief over the loss of their longtime pastime in social media posts. Those deals had covered the publication of several popular Blizzard titles in mainland China, including “World of Warcraft,” “Hearthstone,” and “Diablo III,” since 2008. In a LinkedIn post Monday, Simon Zhu, president of global investments and partnerships of NetEase Games, detailed how he grew up with Blizzard games in China, including older “Warcraft” and “Diablo” titles. “Only [a] few hours before Blizzard Games servers shut down in China, and that is a very very big deal for players in China,” he wrote.

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