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☆ Big names like David Tepper and 'Big Short' investor Michael Burry are quietly upping their bets on the Chinese economy
▼ + stars: | 2024-09-17 | by ( Zahra Tayeb | ) www.cnbc.com time to read: +5 min

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

☆ China expects air travel to hit a record in 2024
▼ + stars: | 2024-08-14 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +1 min

China is expected to see a record-level of passenger air travel in 2024, according to the Civil Aviation Administration of China. China is expecting air passenger travel to hit a record in 2024, bouncing past pre-pandemic levels. In the first half of this year, total passenger trips rose nine percent from the same period in 2019, the State Council added, signaling that China's air travel sector has rebounded from the pandemic. The country's projection for 2024 comes in higher than the 619.6 million air passenger trips seen in 2023, according to data released in June by Chinese officials. Meanwhile, the broader Asia-Pacific region's travel sector has seen growth this year thanks to Chinese tourists.

Persons: Zhiyong Organizations: Civil Aviation Administration of, Civil Aviation Administration, Asia Pacific Summit for Aviation Safety, State, Council, Paris Olympic Games Locations: China, Civil Aviation Administration of China, Japan, South Korea, Singapore, Europe, Asia, Pacific

HONG KONG, July 20 (Reuters) - Fans from Hong Kong and around the world gathered at the feet of a Bruce Lee statue on Thursday to pay tribute to the late kung fu legend on the 50th anniversary of his untimely death. Those who traveled to Hong Kong for the anniversary included people from mainland China, Asia and Europe. "I have loved Bruce Lee since I was very young," said Bruce Shin from South Korea who sported a brush cut and large framed sunglasses, imitating Lee. HKTB2016 REUTERS/Tyrone Siu/File PhotoLee's contributions to martial arts and popular culture have inspired legions of global fans. said Wong Yiu-keung, the chairman of the local Bruce Lee Club.

Persons: Bruce Lee, Hong, Lee, Bruce Shin, Shin, Mei Zhiyong, HKTB2016, Tyrone Siu, Chun, Kung Fu, Ip, Wong Yiu, Bruce Lee Club, Sophie Uekawa, James Pomfret, Emma Rumney Organizations: Harbour, South Korea, HKTB2016 REUTERS, Thomson Locations: HONG KONG, Hong Kong, China, Asia, Europe, South, San Francisco, British, Japan

☆ China Sentences Human-Rights Activists to Prison for Subversion
▼ + stars: | 2023-04-10 | by ( Keith Zhai | Sha Hua | ) www.wsj.com time to read: 1 min

In sentencing Xu Zhiyong, left, and Ding Jiaxi, the Chinese government is silencing two of the most influential critics of its approach to law. SINGAPORE—A Chinese court sentenced two of the country’s most prominent human-rights activists to prison terms of more than a decade each for subversion, slamming the door on an era of activism that briefly carved out space for liberal values in the authoritarian country. Xu Zhiyong was sentenced to 14 years in prison and fellow lawyer Ding Jiaxi was sentenced to 12 years on Monday by the Linshu County Court in eastern China’s Shandong province, said Mr. Ding’s wife, Luo Shengchun, citing information from their lawyers. Messrs. Xu and Ding had earlier been found guilty in a secret trial in Linshu in June, she said.

[1/2] Sophie Luo Shengchun, the wife of jailed Chinese human rights lawyer, Ding Jiaxi, poses with a photo of him at her home in Alfred, New York, U.S., July 28, 2022. REUTERS/Brendan McDermidBEIJING, April 10 (Reuters) - A Chinese court sentenced two prominent human rights lawyers on Monday to jail terms of more than a decade each, a relative and rights groups told Reuters, the latest move in a years-long crackdown on civil society by President Xi Jinping. "I will not let them put Ding Jiaxi and Xu Zhiyong in jail so easily." Hundreds of rights lawyers were detained and dozens jailed in a series of arrests commonly known as "709" cases, referring to a crackdown on July 9, 2015. China rejects criticism of its human rights record, saying it is a country with rule of law and that jailed rights lawyers and activists are criminals who have broken the law.

☆ Air travel recovers in China amid COVID infection worries
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +5 min

The industry needs to "fully understand the special nature, and complexity of the Spring Festival migration in 2023", Song said in a statement on Friday. It expects a Spring Festival boom in tourism. Cinema box office receipts are on track to generate revenue of as much as 10 billion yuan ($1.5 billion) during the Spring Festival period, a brokerage has forecast. According to Guosen Securities, box office revenues in 2022 totalled less than 30 billion yuan, down 36% from a year earlier. ($1=6.7010 Chinese yuan renminbi)Reporting by Shanghai newsroom; Editing by Tony Munroe and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Lawyers exit Hong Kong as they face campaign of intimidation
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +18 min

The event that precipitated his hasty departure, Vidler said, was the appearance of articles in the state-backed media in Hong Kong about him. “This was in my view state-sponsored intimidation and harassment,” said Vidler, whose wife and children later left Hong Kong. One Hong Kong solicitor who has relocated to England told Reuters that she knew of at least 80 Hong Kong lawyers who had moved to Britain since the security law was imposed in June 2020. Another lawyer, now living in Australia, estimated that several dozen Hong Kong lawyers had moved there. Mainland officials have long sought influence over these two influential bodies, according to senior Hong Kong lawyers.

☆ Factbox: A chronology of dissent in China in recent decades
▼ + stars: | 2022-11-30 | by ( James Pomfret | ) www.reuters.com time to read: +5 min

The following is a timeline of some other notable protests, and public dissent against China's ruling Communist Party. 2009 - Xinjiang - In the region's worst ethnic unrest in decades, ethnic Uighurs attacked majority Han Chinese in the capital Urumqi, after an incident involving Uighur workers in a factory in southern China. China later builds massive "facilities" to turn Xinjiang into what a United Nations panel described as a "massive internment camp shrouded in secrecy". China later imposes a powerful national security law, arresting scores of democrats and shutting down civil society groups and liberal media outlets, including the Apple Daily newspaper. 2022 - Henan bank protests - Public protests simmer as thousands lose access to their savings in a banking fraud scandal centred on rural lenders in Henan and Anhui provinces.

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