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☆ China just triggered more stimulus measures, even as it says its economy is showing 'stable growth'
▼ + stars: | 2024-10-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The People's Bank of China triggered two market support programs after China announced economic data. China's economy grew 4.6% in the third quarter of this year, the country's statistics bureau announced as it touted a "stable growth trend." "The property market unsurprisingly remains the biggest drag on China's growth," wrote Song, adding that stabilization in the real estate market remains "elusive." China's economy is being dragged by factors including a property crisis, high youth unemployment, and deflation. He added that he expects Beijing to continue to do more to support growth so the economy can enter 2025 on better footing.

Persons: —, Sheng Laiyun, China's, Lynn Song, Betty Wang, Larry Hu, Rajiv Biswas, who's, Wang Organizations: People's Bank of China, Service, Reuters, Greater China, ING, Oxford Economics, People's Bank of, Macquarie Group Locations: China, Greater, People's Bank of China, Beijing

☆ China Q3 GDP beats estimates
▼ + stars: | 2024-10-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina Q3 GDP beats estimatesCNBC's Eunice Yoon reports on the latest news from Beijing.

Persons: Eunice Yoon Organizations: China Locations: Beijing

☆ China needs stimulus with 'beautiful deleveraging' to avoid debt crisis, says Ray Dalio
▼ + stars: | 2024-10-18 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Ray Dalio, billionaire and founder of Bridgewater Associates LP, during a Bloomberg Television interview in New York US, on Wednesday, April 3, 2024. Blue | Bloomberg | Getty ImagesChina must employ a "beautiful deleveraging" in addition to its recent stimulus measures in order to avoid a debt crisis, said Bridgewater Associates founder Ray Dalio at a conference on Friday The billionaire investor defines a "beautiful deleveraging" as a balanced approach to deficits that utilizes debt restructuring along with the printing of money and debt monetization. "That's the real interesting question of China, in terms of how it's approaching its debt issue," Dalio said, speaking at the FutureChina Global Forum in Singapore. Since the end of September, Beijing has announced several waves of stimulus and reform measures aimed at boosting its economy. "I think the changes that are taking place are terrific changes, but you still have to do the debt restructuring," Dalio said.

Persons: Ray Dalio, Victor J, Dalio, That's Organizations: Bridgewater Associates, Bloomberg Television, Blue, Bloomberg, Getty Locations: New York, China, Singapore, Beijing

☆ Auto giants launch a flurry of cheaper electric vehicles — taking the fight to China
▼ + stars: | 2024-10-17 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024. So, Citroen, Peugeot [and] Renault, they are all showing some smaller affordable models," Poliscanova said. The partly covered wheel of a BYD Co. electric vehicle at the Paris Motor Show in Paris, France, on Tuesday, Oct. 15, 2024. "This year in Europe, we did not have affordable models, so people are not buying those overpriced premium vehicles. Not that many full electric vehicles in Europe for less than that price," he added.

Persons: Carlos Tavares, Julia Poliscanova, Poliscanova, carmaker, Environment's Poliscanova, JATO, Denis Le Vot, CNBC's Charlotte Reed, Le Vot Organizations: Stellantis, Citroen, Paris, Bloomberg, Getty, Europe's, Transport & Environment, CNBC, Peugeot, Renault, carmaker Renault, Tech, Auto, Parc des, Chesnot, U.S, Beijing, Dacia, EV Locations: Paris, France, PARIS, Europe, China, Dacia, EVs, Parc, U.S

☆ China pumps half a trillion dollars into beleaguered property sector. But that’s not enough
▼ + stars: | 2024-10-17 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Since then, economists have been expecting an additional stimulus package worth up to 10 trillion yuan ($1.4 trillion) to restore bullishness in the world’s second-largest economy. Chinese Housing Minister Ni Hong attends a press conference on the property sector in Beijing, China, on October 17, 2024. Widespread concernThe ailing property sector is widely believed to lie at the root of China’s numerous economic woes. It also cut the reserve requirement ratio for banks by half a percentage point, which would free up about 1 trillion yuan ($142 billion) for new lending. The resulting crisis has resulted in a precipitous fall in real estate prices and loss of confidence among consumers.

Persons: Xi Jinping, Housing Ministry didn’t, Larry Hu, “, ”, Ni, Minister Ni Hong, Florence Lo, Xiao Yuanqi, Pan Gongsheng Organizations: Hong Kong CNN, Housing Ministry, Macquarie, CNN, ” Investors, Ministry of Housing, Ni Hong, Minister, Administration Locations: China, Hong Kong, Shanghai, Beijing

☆ China won't renounce use of force over Taiwan; Xi visits frontline island
▼ + stars: | 2024-10-17 | by ( ) www.cnbc.com time to read: +1 min

China will never commit to renouncing the use of force over Taiwan, the government in Beijing said on Wednesday after another bout of war games and a visit by Chinese President Xi Jinping to the scene of a famous defeat for Taiwanese forces. China will never commit to renouncing the use of force over Taiwan, the government in Beijing said on Wednesday after another bout of war games and a visit by Chinese President Xi Jinping to the scene of a famous defeat for Taiwanese forces. China, which views democratically governed Taiwan as its own territory, staged a day of large-scale drills around the island on Monday that it said were a warning to "separatist acts" following last week's national day speech by Taiwan President Lai Ching-te. "But we will never commit ourselves to renouncing the use of force," he said. Taiwan has close though unofficial relations with the United States, a major arms supplier, and its allies.

Persons: Xi Jinping, Lai Ching, Chen Binhua, Chen Organizations: Taiwan Affairs Office, Taiwan Locations: China, Taiwan, Beijing, United States

☆ China's retirement crisis is here, and Beijing will be forced to keep raising the retirement age, demographer says
▼ + stars: | 2024-10-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China has no choice but to keep raising the retirement age for workers, according to Yi Fuxian. AdvertisementChina has a retirement crisis on its hands, and the nation will probably be forced to keep raising the retirement age for workers to stave off demographic imbalances, according to a demographer. Those trends led China to recently raise the mandatory retirement age for workers, the first time the nation has raised its retirement age in decades. "Given the severity of its demographic crisis, China will need to keep raising its retirement age, potentially fueling civil unrest and political instability," Yi said. China's main pension fund could be depleted by 2035, according to a 2019 estimate from the Chinese Academy of Social Sciences.

Persons: Yi Fuxian, —, Fuxian, Yi Organizations: Service, Syndicate, Bank, nation's Ministry of Civil Affairs, China National, Ageing, United Nations, Chinese Academy of Social Sciences, Reuters Locations: China

☆ In the twilight of his term, Biden greets global audience weary of war and wary of US politics
▼ + stars: | 2024-10-17 | by ( Kayla Tausche | ) edition.cnn.com time to read: +7 min

“I think it would be a big mistake to underestimate the president,” Scholz told PBS ahead of NATO’s 50th anniversary summit in Washington. Biden has instead opted for “minilateralism,” what foreign policy experts have come to term his strategy for dealing with smaller coalitions of like-minded nations. “Ironically, it is precisely Biden’s caution that has encouraged continued Russian, Chinese, North Korean, and Iranian misbehavior,” Kempe writes. According to Pew Research Center polling on views of Biden across 34 countries, 63% of German respondents expressed confidence in Biden. In Poland – another country where aides have considered having Biden visit to tout Ukraine support – 70% of respondents express confidence in Biden.

Persons: Joe Biden’s, he’s, Olaf Scholz, Scholz, “, ” Scholz, Biden, Frank, Walter Steinmeier, Hurricane Milton, Volodymyr Zelensky, Fred Kempe, Biden didn’t, ” Kempe, Biden’s, ”, Richard Wike, Trump, Ukraine that’s, Zelensky, Barack Obama, Alexis Tsipras, Obama, ’ ” Obama Organizations: CNN, American, Hurricane, Biden, Russia, China, Atlantic Council, Pew Research, –, Global, Research, Trump, Greek Locations: Russia, Ukraine, NATO’s, Washington, Berlin, France, Germany, Israel, United Kingdom, Ukrainian, East, Iran, United States, Africa, Asia, North Korean, Poland, Kenya, Philippines, Greece, Athens

☆ Beijing wants to stem the decline in property market: CGS International
▼ + stars: | 2024-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina has signaled it wants to stem the decline in property market: CGS InternationalRaymond Cheng, managing director and head of research of Hong Kong and China at CGS International, discusses the impact of recent stimulus measures on China's property sector.

Persons: Raymond Cheng Organizations: China, CGS, Hong, CGS International Locations: Hong Kong, China

☆ China pledges more financial support for 'whitelist' real estate projects
▼ + stars: | 2024-10-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China vowed more financial support for real estate projects that fall under its so-called whitelist and to speed up banks lending of 4 trillion yuan ($561.8 billion) for such projects, according to the nation's housing ministry. A total of 2.23 trillion yuan has been approved in loans to whitelisted developers, and that figure is expected to exceed 4 trillion yuan by the end of this year, according to a senior official from the financial regulator. Real estate was also the leading gainer in Mainland China's CSI 300, advancing by nearly 5%. Days later, officials in a top-level meeting, chaired by Chinese president Xi Jinping, pledged to "halt the real estate market decline and spur a stable recovery." More than 50 cities across China had introduced policies to boost the real estate market, according to Chinese state media citing the housing ministry.

Persons: Ni, HSMPI, Pan Gongsheng, Xi Jinping, Goldman Sachs, —, — CNBC's Evelyn Cheng Organizations: National Financial Regulatory Administration, Investors, China's Ministry of Finance, Mainland, China's CSI, People Bank of China, National Bureau, Statistics Locations: China, Beijing, China's, Guangzhou, Shanghai, Shenzhen

In yet another incident, crowds of angry drivers gather outside an apartment complex, demanding justice for a fellow delivery driver said to be bullied by security guards there. They’re among the many episodes of explosive confrontations across China involving delivery workers widely circulated on Chinese social media, showing people stretched to the breaking point. As China’s economy grapples with a raft of setbacks, from a protracted property crisis to a lack of consumer spending, delivery workers are taking a beating. That eats into delivery workers’ income as their pay is usually tied to a commission based on the price of the order. In 2019, a delivery driver died after he was hit by a tree knocked over by strong winds in Beijing, according to state media Global Times.

Persons: “, ”, Jenny Chan, Chan, they’ve, Greg Baker, Morningstar, Alibaba, ’, Lu Sihang, Lu, China’s, Gary Ng, ” Ng, Pedro Pardo, Workers.cn, Yang, Justin Robertson Organizations: Hong Kong CNN, Polytechnic University of Hong, Getty, iiMedia Research, CNN, China New Employment Research Center, Research, China Labour Bulletin, Polytechnic University, Global Times, Chongqing Broadcasting Group Locations: Beijing, Hong Kong, China, Polytechnic University of Hong Kong, AFP, Chinese, Hunan

☆ Chinese robotaxi firm Pony AI files for U.S IPO
▼ + stars: | 2024-10-17 | by ( ) www.cnbc.com time to read: +2 min

Pony AI, in which Japan's Toyota owns a 13.4% stake, revealed that its revenue nearly doubled to $24.7 million in the first half of 2024. Net loss attributable to the company was $51.3 million in the same period, compared with $69.4 million last year. The number of Chinese companies that pursued stock market flotations in the U.S. dropped in the past few years after Beijing clamped down on offshore capital-raising in 2021. EV maker Zeekr's debut in May was the first big listing by a Chinese company in the U.S. since then. Pony AI has applied to list on the Nasdaq stock exchange under the ticker symbol "PONY."

Persons: Saudi Arabia's NEOM, BingEx, Goldman Sachs Organizations: Toyota, U.S . Federal Reserve, Japan's Toyota, Saudi Arabia's, Zeekr's, Nasdaq, BofA Securities, Deutsche Bank, Huatai Securities, Tiger, underwriters Locations: Beijing, China, U.S, Saudi

☆ CNBC Daily Open: Strong earnings, macro conditions propelling stocks up
▼ + stars: | 2024-10-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets rise on upbeat earningsU.S. stocks resumed their advance Wednesday, as Morgan Stanley and United Airlines earnings topped estimates. The ministry also announced that bank loans to developers will be speeded up and nearly double to 4 million trillion yuan by the end of 2024, from the 2.23 trillion yuan already approved. [PRO] A shining sector that's not tech nor utilitiesBig Tech stocks, fueled by excitement over generative artificial intelligence, have been responsible for most of this year's rally in the market. But there's a new group of stocks that's fast becoming one of the best-performing sectors for the year.

Persons: Morgan Stanley, it'd, CSAC Organizations: CNBC, United Airlines, CSI, Beijing, ECB, European Central Bank, Intel Intel, Cybersecurity Association of China, Officials, Big Tech Locations: Asia, Pacific

☆ Oil inches up after surprise drop in U.S. crude stockpiles
▼ + stars: | 2024-10-17 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose in early Asian trade on Thursday, paring sharp losses over the past two sessions, after industry data showed an unexpected drop in U.S. crude stockpiles last week. It's coming, we know that but we don't know when," Sycamore said, adding that both factors bring upside risks for crude oil. In the U.S., crude oil and fuel stocks fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, against expectations of a build-up in crude stockpiles. Crude stocks fell by 1.58 million barrels in the week ended Oct. 11, the sources said on condition of anonymity. Gasoline inventories fell by 5.93 million barrels, and distillate stocks fell by 2.67 million barrels, they said.

Persons: Tony Sycamore, Sycamore Organizations: Brent, U.S, West Texas, Organization of, Petroleum, International Energy Agency, China NPC, IG, Investors, American Petroleum Institute, Reuters, Energy Information Administration, U.S . Department of Energy, European Central Bank Locations: Almetyevsk, Tatarstan, Russia, Israel, Iran, China, Sydney, Beijing, U.S

☆ China-led regional group calls for countering protectionist policies, sanctions
▼ + stars: | 2024-10-17 | by ( ) www.cnbc.com time to read: +1 min

The Chinese national flag flies outside the Ministry of Foreign Affairs in Beijing on July 26, 2023. A China-led 10-state regional group criticized what it called protectionist trade measures on Wednesday, part of an intensifying standoff between Beijing and Western countries over tariffs on Chinese products. The Shanghai Cooperation Organization, a Eurasian security and political group, also hit out at "unilateral sanctions" as member states Iran and Russia face curbs on trade. The statement said that the 10 member states, represented by seven prime ministers, "consider it important to continue joint efforts to counter protectionist trade measures that are contrary to WTO rules." Beijing has termed the moves discriminatory, and responded with similar actions as the standoff intensifies.

Organizations: Ministry of Foreign Affairs, Shanghai Cooperation Organization, European Union Locations: Beijing, China, Western, Iran, Russia, Islamabad, India, Pakistan, United States, Canada

☆ IMF chief warns 'not yet time to celebrate' as low growth and high debt weigh on global economy
▼ + stars: | 2024-10-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

The head of the International Monetary Fund cautioned on Thursday that high debt and low growth remained major impediments to the global economy. "When we look into the challenges ahead of us, the biggest one is low growth, high debt. "It is successful major economies that have done really well … and there are pockets in the world where inflation is still a problem," she said. Georgieva warned that international trade would no longer be the "engine of growth" it once was, highlighting the proliferation of restrictive policies among many economies. Earlier on Thursday, Georgieva also pointed to wider geopolitical tensions as one of the key risks to global financial stability.

Persons: Kristalina Georgieva, Karen Tso, Georgieva, Ukraine — Organizations: International Monetary Fund, IMF, CNBC, Washington DC, World Bank Group, European Union, Ukraine Locations: Washington, U.S, China, United States

☆ Intel is a security risk for China, says influential industry group
▼ + stars: | 2024-10-16 | by ( ) edition.cnn.com time to read: +3 min

Beijing Reuters —Intel products sold in China should be subject to a security review, the Cybersecurity Association of China (CSAC) said on Wednesday, alleging the US chipmaker has “constantly harmed” the country’s national security and interests. “It is recommended that a network security review is initiated on the products Intel sells in China, so as to effectively safeguard China’s national security and the legitimate rights and interests of Chinese consumers,” CSAC said. Last year, CAC barred domestic operators of key infrastructure from buying products made by US memory chipmaker Micron Technology Inc (MU) after deeming the company’s products as having failed its network security review. A similar security review on Intel products could negatively impact the company’s revenues, over a quarter of which came from China last year. “This poses a great security threat to the critical information infrastructures of countries all over the world, including China … the use of Intel products poses a serious risk to national security,” CSAC said.

Persons: ” CSAC, ”, Dan Coatsworth, AJ Bell Organizations: Beijing Reuters, Intel, Cybersecurity Association of China, Cyberspace Administration of China, CAC, Micron Technology Inc, Washington, US National Security Agency, NSA, Nvidia Locations: Beijing, China

☆ It looks like the glory days of luxury are over for LVMH, at least for now
▼ + stars: | 2024-10-16 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

LVMH reported a 3% decline in sales in its most recent quarter. The drop is driven by decreased demand from Chinese consumers, affecting luxury sales. AdvertisementFrench luxury conglomerate LVMH, the world's largest luxury company, reported a 3% year-on-year decline in sales in its most recent quarter. On Wednesday, LVMH shares fell by nearly 7% in early trading, driven by waning demand from Chinese consumers, who were once key spenders of European luxury goods. Some Chinese luxury consumers have been flocking to Japan to take advantage of lower prices caused by the country's currency downturn.

Persons: LVMH, —, Louis Vuitton, Christian Dior —, lockdowns, Jean, Jacques Guiony Organizations: Service, Louis, National Development, Reform Commission Locations: Beijing, China, Covid, Asia, Japan, United States, Europe

☆ CNBC Daily Open: Bullish sentiment and broadening rally – markets are in a good place
▼ + stars: | 2024-10-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineDespite markets falling Tuesday, there's still plenty to like about their current state. Weighed down by ASML's 16% dive and a report by Bloomberg on potential AI-chip export controls, semiconductor stocks like Nvidia and AMD fell 4.7% and 5.2% respectively. Still, investors are the most bullish in four years, according to the October BofA Global Fund Manager Survey.

Persons: DJI, Spencer Platt, there's, They're, Michael Hartnett, Mary Daly, who's, Dow, Piper, Craig Johnson, –, Jeff Cox, Samantha Subin, Yun Li, Lisa Kailai Han, Alex Harring Organizations: AMD, New York Stock Exchange, Getty, CNBC, ASML's, Bloomberg, Nvidia, Semiconductor, Nasdaq, Dow Jones, Dow, Survey, U.S . Federal Reserve, San Francisco Fed, Federal Locations: U.S, Beijing

☆ China could raise nearly $1 trillion of fresh debt in the next 3 years to revive its economy
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Chinese media reported that China could rack up $850 billion in debt to help revive its economy. China has vowed to roll out more fiscal stimulus, but key details were missing in a recent update. AdvertisementChina's fiscal stimulus efforts could include racking up almost $1 trillion in fresh debt over the next several years, according to local media. The money could be used as fiscal stimulus and to help "off-the-books debt" in local governments, the people added. One researcher recently estimated that the direct effects of China's latest stimulus package may not be felt until 2025, mainly because more fiscal stimulus needs to be unlocked before the policies can bolster the nation's economy.

Persons: —, Lan Fo'an Organizations: Service, China's, Finance, CNBC, Bloomberg, CSI Locations: China, Beijing, Hong Kong

☆ Russia defense chief touts ‘common understanding’ with China in Beijing talks
▼ + stars: | 2024-10-16 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +4 min

Their task is to “strengthen and develop” their strategic partnership, the Russian defense chief added. Russia and China have been bolstering their security coordination in the face of shared frictions with the West. Belousov also held talks a day earlier with Chinese Defense Minister Dong Jun, who ranks below Zhang in China’s military hierarchy. Belousov’s arrival in Beijing Monday coincided with China’s military flying a record number of fighter jets and other warplanes around Taiwan during large-scale military drills. China said the drills were intended as a “stern warning” to what it described as pro-independence forces in Taiwan.

Persons: that’s, Andrey Belousov, Zhang Youxia, Xi Jinping, That’s, Zhang, Xi, Vladimir Putin, Belousov, Dong Jun, Andrei Belousov, Wang Yi, Putin, Lai Ching Organizations: Hong Kong CNN, US, China’s, Military Commission, Tass, China’s Defense Ministry, Chinese Defense, Russia's Defense, China's, Russian Defence Ministry, Reuters China’s Ministry of Foreign Affairs, Canadian Locations: China, Hong Kong, Beijing, Russia, Washington, Russian, Kazan, BRICS, Moscow, Ukraine, Ocean, Alaska –, South China, Taiwan

☆ CNBC Daily Open: Bullish sentiment and broadening rally – plenty to like about markets
▼ + stars: | 2024-10-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Breather from rally U.S. markets fell Monday, weighed down by a drop in semiconductor stocks and a 8.1% slide in UnitedHealth . Tech stocks fell 6.36%, while telecoms stocks rose 1.97%. Indeed, San Francisco Fed President Mary Daly, who's a member of the Federal Open Market Committee this year, noted that the central bank is "a long way from where [rates are] likely to settle."

Persons: ASML, there's, They're, Michael Hartnett, Mary Daly, who's, Dow, Piper, Craig Johnson, –, Jeff Cox, Samantha Subin, Yun Li, Lisa Kailai Han, Alex Harring Organizations: New York Stock Exchange, CNBC, UBS, Tech, ASML's, Bloomberg, Nvidia, AMD, Semiconductor, Nasdaq, Dow Jones, Dow, Survey, U.S . Federal Reserve, San Francisco Fed, Federal Locations: New York City, U.S, Tuesday's, Netherlands, ., Beijing

☆ Wall Street strategists sour on the China trade, see stimulus as another 'boom-bust' episode
▼ + stars: | 2024-10-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Beijing's lack of concrete economic stimulus actions poured cold water on U.S. investors who went big on the China trade, and strategists on Wall Street are warning of disappointment ahead. The professional cohort had piled into beaten-down stocks last month, stirred by hopes of more government assistance for the troubled China economy. "Indeed, the only part of the Chinese economy that appeared to be holding was its export sector. Investor sentiment toward Chinese stocks was partly aided by high-profile hedge fund manager David Tepper of Appaloosa Management, who turned extremely bullish. Stanley Druckenmiller reportedly said he's not interested in Chinese stocks under the current political leadership, regardless of the new policies.

Persons: Stefano Pascale, Sameer Samana, Donald Trump, Barclays Pascale, David Tepper, Tepper, Ray Dalio, Stanley Druckenmiller, he's, — CNBC's Michael Bloom Organizations: Barclays, Trump, CSI, Appaloosa Management, CNBC Locations: China, Wells Fargo, Beijing

The UAE has shown it can “guarantee the safety and the security” of chips “if and when they are being deployed and used here,” Peng Xiao, CEO of UAE AI firm G42, told CNBC at a conference in Dubai on Tuesday. “I cannot read the mind of the U.S. policymakers, but in many ways, I understand their position,” Xiao told CNBC. “At the same time from our side, we've shown from the UAE side how transparent we are and how we can guarantee the safety and the security of this technology,” he added. The United States has previously warned over G42's ties to China and its work with companies in Beijing, which Washington considers a possible security threat. In February, the group sold its stake in Chinese companies including Bytedance in a bid to reassure American partners.

Persons: ” Peng Xiao, Joe Biden, “, ” Xiao, Kiril Evtimov, Evtimov Organizations: United, United Arab Emirates ’, CNBC, Nvidia, AMD, Bloomberg, “, Washington, Bytedance Locations: United Arab, U.S, Washington, UAE, Dubai, China, United States, Beijing

☆ Investor sentiment on China is turning a corner, but support details needed: Investment strategist
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestor sentiment on China is turning a corner, but support details needed: Investment strategistChristy Tan from Franklin Templeton says a precondition for a major return of investor confidence into China clarity on the quantum and speed of Beijing's stimulus measures. She adds that the U.S. election also factors into sentiment.

Persons: Christy Tan, Franklin Templeton Locations: China

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