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From property woes to sluggish economic data, China appears to be suffering from long Covid. Wall Street turns bullishBillionaire investors, including Appaloosa Management founder David Tepper and "Big Short" investor Michael Burry, recently revealed they are sticking to their China bets. The famed investor loaded up on Alibaba stock in the second quarter, revealing an $11.2 million position in the company. That makes Alibaba Burry's largest holding, with other Chinese tech stocks including Baidu and JD.com also featuring on Burry's portfolio. Meanwhile, BCA Research recently upgraded Chinese onshore stocks to overweight, with China strategist Jing Sima expecting Chinese onshore stocks to passively outperform global equities.
Persons: Jiang Sheng, It's, Ted Alexander, CNBC's, David Tepper, Michael Burry, Alibaba, Tepper, Burry, JD.com, Jing Sima, George Boubouras, Goldman Sachs, Song Zhiyong, Eric Lin Organizations: Visual China, Getty, Appaloosa Management, KE Holdings, Baidu, BCA Research, K2 Asset Management, CNBC, Bank of America, National Bureau of Statistics, China's Ministry of Transport, Civil Aviation Administration, Asia Pacific Summit for Aviation Safety, Paris Olympic Games, Greater, Greater China Research, UBS Locations: China, Beijing, Wall, Japan, South Korea, Singapore, Europe, Greater China
Investors watch computer screens displaying stock price figures at a stock exchange hall. Jiang Sheng | Visual China Group | Getty ImagesAsia-Pacific markets were mostly set to eke out gains on Monday after most major bourses ended lower in the previous session, while investors watched for changes to China's benchmark lending rates. The People's Bank of China's one-year loan prime rate — the peg for most household and corporate loans in China — is currently at 3.45%. Futures for Hong Kong's Hang Seng index stood at 17,728, pointing to a higher open compared to the HSI's close of 17,454.19. Japan's Nikkei 225 was also set to open slightly lower, with the futures contract in Chicago at 33,500 and its counterpart in Osaka at 33,490 against the index's last close of 33,585.20.
Persons: Jiang Sheng, China —, Alibaba Organizations: Visual China, Getty, People's Bank, Nikkei Locations: Asia, Pacific, China's, China, Hong Kong, Chicago, Osaka, Australia
Stringer/AFP/Getty Images“Invisible age discrimination for 35-year-olds has always existed in the workplace,” lawmaker Jiang Shengnan told the gathering, reported state-run China Youth Daily. “Although I had really good work experience and a master’s degree, I’m really uncompetitive after 35 years old,” Tao Chen said in his Douyin video. New twist on an old storyFor many Chinese women, the “curse” builds upon and further compounds the entrenched gender discrimination that has long plagued the workplace. And even in areas where some protection was offered – such as for mothers taking maternity leave – enforcement of the law is weak, and gender discrimination remains common, she said. Costfoto/NurPhoto/Getty Images“A large amount of age discrimination is intersectionality – discrimination of age, gender, pregnancy, and caregiving duties,” said the assistant professor.
Persons: Han, She’s, , , don’t, , Stringer, Jiang Shengnan, hadn’t, Tao Chen, ” Tao Chen, Liu, ” Liu, Yiran Zhang, Zhang, Liu – Organizations: Hong Kong CNN, CNN, Communist Party, Getty, Central Party School, Chinese Communist Party, Xinhua, ageism, Sichuan University, Cornell Law School, Employees Locations: Hong Kong, Beijing, China, Congjiang, AFP, Xinhua, , Shenzhen, Suqian, Shenzhen –
China dug itself into a demographic hole largely through its one-child policy imposed between 1980 and 2015. Young people cite high childcare and education costs, low incomes, a feeble social safety net and gender inequalities, as discouraging factors. "But without any fertility encouragement policy then fertility will decline even further." China's birth rate last year fell to 6.77 births per 1,000 people, from 7.52 births in 2021, the lowest on record. Demographer Yi Fuxian remains sceptical whether any measures would have a significant impact by themselves, saying China needed a "paradigm revolution of its entire economy, society, politics and diplomacy to boost fertility."
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