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The reading was also much lower than 679 billion yuan in July 2022. "China’s bank loan growth fell to its lowest in seven months in July, while broad credit growth dropped to a record low," Capital Economics said in a note to clients. Hobbled by weak demand at home and abroad, China's economic momentum has faltered in recent months despite strong bank lending in the first half. Outstanding yuan loans expanded by 11.1% in July from the year before, the lowest so far this year, compared with 11.3% growth the previous month. In July, TSF slumped to 528.2 billion yuan from 4.22 trillion yuan in June.

Persons: Florence Lo, Luo Yunfeng, TSF, Qiaoyi Li, Kevin Yao, Kim Coghill Organizations: REUTERS, People's Bank of China, Reuters, Huajin Securities, Analysts, Thomson Locations: BEIJING, China, Beijing, Central, TSF

☆ European gas prices jumped nearly 40% on Australia supply fears — and analysts expect further rises
▼ + stars: | 2023-08-10 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Liquefied natural gas (LNG) storage units at Grain LNG importation terminal, operated by National Grid Plc, on the Isle of Grain on August 22, 2022 in Rochester, England. Energy analysts believe the bullish momentum for European natural gas prices will persist over the coming months after futures jumped almost 40% on Wednesday. Fears over possible supply disruption in Australia saw the front-month gas price at the Dutch Title Transfer Facility (TTF) hub, a European benchmark for natural gas trading, hit its highest level since mid-June on Wednesday. The surge in gas prices came on news of a potential liquefied natural gas (LNG) facility strike at major plants in Australia as workers campaign for higher pay and improved job security. "Looking ahead, we expect the bullish outlook for gas prices to continue with fewer LNG imports to Europe, planned maintenance for Norwegian pipelines and continued heatwaves in multiple regions globally," Luo said.

Persons: Luo Organizations: National Grid, Energy, New York Mercantile Exchange, Rystad Energy, Woodside Energy Group, LNG Locations: Isle, Rochester , England, Australia, U.S, Europe, Chevron, China, Japan

☆ Chinese stand-up comedian forced to apologize after military joke angers officials
▼ + stars: | 2023-05-16 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

He went on to say that one day his two energetic canines gave chase to a squirrel, which reminded him of eight words, before he delivered the controversial punchline, according to audio posted to Chinese social media site Weibo. “Fine style of work, capable of winning battles,” he said, flipping a well known Chinese Communist Party slogan referring to the PLA. Shanghai Xiaoguo Culture Media described the joke as “inappropriate” before offering an apology in a statement on Monday. Comedians make a name for themselves by taking part in these shows and often expand their careers to live shows – as Li did. Last May, former investigative journalist Luo Changping was sentenced to seven months in prison and ordered to offer a public apology for calling Chinese soldiers portrayed in a blockbuster movie about the Korean war “stupid.”Li’s sense of humor divided users on Chinese social media.

☆ Can the Zibo barbecue frenzy save China from economic crises?
▼ + stars: | 2023-05-15 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Zhu Zheng/Xinhua/Getty ImagesSo many tourists flocked into Zibo, now dubbed China’s outdoor barbecue capital, that even the local tourism authorities urged visitors to go elsewhere. A few may, but most won’t.”A shop owner shows off grilled meat during a barbecue festival on April 29, 2023 in Zibo, eastern China. The city Zibo became a tourism hot spot after videos of its barbecue went viral online. China’s economy is navigating a growing array of challenges. The informal trade might reduce unemployment temporarily, and give people feeling poorer a boost, but it “won’t save China’s economy,” Tsang said.

☆ What you need to know if you want a job at an elite firm like Point72, Citadel, or Millennium
▼ + stars: | 2023-05-10 | by ( ) www.businessinsider.com time to read: +3 min

The biggest hedge funds are battling it out to attract and retain top talent and outperform peers. Insider has talked to a number of hedge funds to get a peek into their recruiting strategies. Shaw, and Bridgewater are in constant competition for the best and brightest to help them gain an edge in the cutthroat investment industry. Internships and fellowshipsThe opaque and secretive world of hedge funds might not necessarily be an obvious choice for many college graduates. Investment training programsTypically, hedge funds acquired their investment talent after a few years of working at an investment bank.

☆ Even Chinese companies are moving supply chains out China to avoid geopolitical risks. Here are the 6 places they're heading for instead.
▼ + stars: | 2023-04-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Even Chinese manufacturers are shifting parts of their supply chains out of China to manage risks. That's because manufacturers are moving to near where their customers are. To be sure, Chinese manufacturers aren't moving all their production out of the mainland. But a combination of geopolitical risks — such as tensions with the US — and rising costs are pushing them to look for alternatives. Here are the six countries these supply chains are moving to:

☆ China resorts to extraordinary measures to soothe entrepreneurs amid deep retreat of private business
▼ + stars: | 2023-04-17 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —After years of regulatory crackdowns and draconian Covid curbs, private entrepreneurs in China are low on enthusiasm. If anything, the private sector seems to be retreating even more so far this year. State-led investment surged 10.5%, while private investment increased a mere 0.8%. In 2022, state investment rose 10.1%, while private investment ticked up 0.9%. “We always regard private enterprises and private entrepreneurs as people on our own side,” Xi said.

☆ Hedge fund career guide: What you need to know if you want a job at an elite firm like Citadel, D.E. Shaw, or Point72
▼ + stars: | 2023-04-13 | by ( ) www.businessinsider.com time to read: +3 min

Insider has talked to a number of hedge funds to get a peek into their recruiting strategies. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking — delivered daily to your inbox. Shaw, and Bridgewater are in constant competition for the best and brightest to help them gain an edge in the cutthroat investment industry. Internships and fellowshipsThe opaque and secretive world of hedge funds might not necessarily be an obvious choice for many college graduates. Investment training programsTypically, hedge funds acquired their investment talent after a few years of working at an investment bank.

☆ Alphabet's A.I. frenzy hits startup scene as CapitalG unit leads $100 million investment in AlphaSense
▼ + stars: | 2023-04-11 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

Google's hefty investment in artificial intelligence and the latest boom in generative AI doesn't end with its homegrown products. Alphabet's late-stage venture capital arm, CapitalG, told CNBC that it just led a $100 million investment in corporate data firm AlphaSense, valuing the company at $1.8 billion. Generative AI wasn't a talking point in the prior two rounds because the term hadn't yet jumped into the popular lexicon. Generative AI has been the one bright spot this year, turning rather frothy in some corners. He said the money will also help AlphaSense improve its technology, taking advantage of advances in generative AI.

☆ 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.

Multiple experts identified the presence of malware on the Pinduoduo app that exploited vulnerabilities in Android operating systems. Evidence of sophisticated malware in the Pinduoduo app comes amid intense scrutiny of Chinese-developed apps like TikTok over concerns about data security. Pinduoduo has previously rejected “the speculation and accusation that Pinduoduo app is malicious.”CNN has contacted PDD multiple times over email and phone for comment, but has not received a response. Google Play is not available in China, and Android users in the country download their apps from local stores. Engineers also found their access to big data, data sheets and the log system revoked, the source said.

☆ Airfares across Asia are sky-high this year. Here’s why
▼ + stars: | 2023-03-24 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

But passengers in Asia Pacific are currently grappling with bigger price jumps than other regions, highlighting the uneven global recovery. Economy fares to Asia from North America and Europe are set to rise 9.5% and 9.8% this year from last year, respectively, Amex GBT forecasts show. “In the markets where restrictions have been the last to lift, and hence [flight] capacity last to be restarted, the difference in fares is the highest,” said Aitken. Despite China’s reopening, outbound flight capacity “is currently only at 15% to 20% of pre-Covid levels,” according to Trip.com (TCOM) CEO Jane Sun. The restrictions have remained, and those most heavily impacted are between Asia and North America or Europe.

October 2022 Wang Linfang,92, molecular biologist Four members of China’s two most prestigious academic institutions died in October – in line with the average in recent years. October 2022 Wang Linfang,92, molecular biologist Four members of China’s two most prestigious academic institutions died in October – in line with the average in recent years. Zhang Guocheng, 91 Zhao Zisen, 90, developed China’s first practical optical fiber Tang Hongxiao, 91 The obituaries began accumulating. October 2022 Wang Linfang,92, molecular biologist Four members of China’s two most prestigious academic institutions died in October – in line with the average in recent years. October 2022 Wang Linfang,92, molecular biologist Four members of China’s two most prestigious academic institutions died in October – in line with the average in recent years.

☆ Companies can ‘hire’ a virtual person for about $14k a year in China
▼ + stars: | 2023-01-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Virtual singer Luo Tianyi performing with world renowned pianist Lang Lang in 2019 at the Mercedes-Benz Arena in Shanghai, China. Launched in 2012, Luo Tianyi has nearly 3 million fans and even performed at the Winter Olympics opening ceremony in Beijing this year. BEIJING — From customer service to the entertainment industry, businesses in China are paying big bucks for virtual employees. It costs about 100,000 yuan ($14,300) a year for a three-dimensional virtual person, and 20,000 yuan for a two-dimensional one. Li expects the virtual person industry overall will keep growing by 50% annually through 2025.

☆ China's BYD to launch a second new EV brand in 2023 -executive
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 15 (Reuters) - China's BYD Co will launch a new "professional and personal" electric car brand in 2023, a senior executive said on Thursday as the automaker expands its range following a year of strong sales. The new brand will be an addition to Yangwang, a premium brand set for launch in the first quarter of 2023 that it announced last month. Having ditched gasoline vehicles from its product mix this year, BYD has been able to capitalise on a range of incentives for electric cars offered by the central and local governments. Luo said BYD has sold cars to 35 countries outside China since it started exporting to Norway last May. Reporting by Zoey Zhang and Brenda Goh; Writing by Liz Lee; editing by Christian Schmollinger and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ China's BYD to launch new "professional and personal" EV in 2023 - executive
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 15 (Reuters) - China's BYD Co will launch a new "professional and personal" electric car brand in 2023, Brian Luo, the company's branding assistant general manager, said on Thursday. The new brand will be an addition to Yangwang, a premium brand slated for launch in the first quarter of 2023. Reporting by Zoey Zhang and Brenda Goh; Writing by Liz Lee; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

After explosions - whose cause is under investigation - damaged the Nord Stream Russian gas pipeline system to Europe under the Baltic Sea, Putin in October proposed setting up a gas hub in Turkey, building on a southern route for exports. "Does Europe need the project, given the determination of the EU countries to forego Russian gas in the nearest future?" A source in Russia's pipeline gas exporting monopoly Gazprom (GAZP.MM) said be believed the hub would facilitate sales. "That will not be Russian gas, but gas from the hub," said the source, who did not want to be named due to the sensitivity of the matter. Neither Gazprom, nor the Kremlin provided a cost estimate for the Turkish hub idea.

☆ New subvariants, family gatherings may bring more Covid-19 after holiday, but experts don’t expect severe surge
▼ + stars: | 2022-11-24 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

Experts expect that Thanksgiving gatherings will stir up social networks and give new coronavirus subvariants fresh pockets of vulnerable people to infect. And we are concerned that after holiday gathering, lots of people coming together, that we may see increases in Covid-19 cases as well,” Dr. Rochelle Walensky, director of the US Centers for Disease Control and Prevention, said Tuesday on CNN. For the week ending Nov. 19, the CDC estimates that BQ.1 and BQ.1.1 were causing about half of all new Covid-19 cases in the US. Covid-19 cases, hospitalizations and deaths have remained flat for the past four weeks. “It’s probably got a bit more of a fitness advantage, so what we’re seeing is gradual replacement without a massive change in the total number of Covid-19 cases,” he said.

☆ How OneSchema, a Y Combinator-backed data-importing startup, raised $6.3 million from Sequoia and General Catalyst without a pitch deck
▼ + stars: | 2022-11-16 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

Here's how OneSchema raised $6.3 million from General Catalyst and Sequoia without a pitch deck. Luo's experience inspired him to start OneSchema alongside his cofounder, Christina Gilbert, to try to streamline the data-importing process for companies. The startup recently raised a $6.3 million seed round led by General Catalyst with participation from Sequoia Capital, Y Combinator, Elad Gil, and Contrary Capital. Because of inbound investor interest, OneSchema was able to raise its seed round without a pitch deck, Gilbert told Insider. A decade ago, many might have argued that OneSchema's focus would someday become obsolete because of the development of automated methods to transfer data, Gilbert told Insider.

Analysts polled by Reuters had predicted new yuan loans would fall to 800 billion yuan in October. Household loans, including mortgages, contracted by 18 billion yuan in October, versus 650.3 billion yuan in September, while corporate loans dropped to 462.2 billion yuan from 1.92 trillion yuan, central bank data showed. China's local governments issued a net 24.1 billion yuan in special bonds in September, the finance ministry has said, down from 51.6 billion yuan in August. China's local governments issued a net 24.1 billion yuan in special bonds in September, the finance ministry has said, down from 51.6 billion yuan in August. In October, TSF fell sharply to 907.9 billion yuan from 3.53 trillion yuan in September.

☆ Microsoft powers up search for Chinese gaming hits in race against Sony
▼ + stars: | 2022-10-24 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

Register now for FREE unlimited access to Reuters.com RegisterGrowing Western interest in Chinese games reflects a maturing of China's game development industry, analysts said. Chinese games are now on a par with big-budget Western games, said Daniel Ahmad, senior analyst at researcher Niko Partners. "Chinese game developers are trying to standardise their development tools, create advanced production processes, invest in really large-scale teams," Ahmad said. Microsoft has been building a team to scout for Chinese games, two industry sources said. Gaming executives now point to "Genshin Impact" as a global industry milestone, lauding its production value and seamless cross-platform game play.

An advertisement promoting Alibaba's Singles' Day shopping festival is pictured, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, October 22, 2022. Sweaty Betty China Vice President Lexie Morris told Reuters the active-wear brand would use only "one or two" livestream hosts this Singles Day season and that it was starting to work with much smaller and more sports-focused livestreamers. Analysts expect to see another year of slowing sales overall this Singles Day, dampened by a slowing economy and China's zero-COVID-19 policy. In June, Alibaba rival JD.com Inc (9618.HK) also recorded its slowest-ever sales growth for 618, China's second-largest shopping festival after Singles Day. "Instead of a traffic-driven model, Taobao Live helps merchants grow their businesses sustainably," it said.

DEBT STRESSTreasury bond quotas could be increased, so that some of them could be transferred to local governments to ease their fiscal stress, said Luo Zhiheng, chief macroeconomic analyst at Yuekai Securities. Combined with some maturing debts of local government financing vehicles (LGFVs) - investment companies that build infrastructure projects - this year and the next will be most stressful for local governments, he said. According to financial media outlet Yicai, local governments' revenue from fines and confiscations jumped 10.4% in January-July year-on-year. The fiscal stress is cutting into some households' income, a red flag for consumption and broader growth. As there is no way out, they have had to ask the local government fiscal department for money."

☆ He’s CEO of Two Companies—and a Ranked Fencer
▼ + stars: | 2022-10-15 | by ( Jen Murphy | ) www.wsj.com time to read: 1 min

Aaron Luo must choose between attending his sons’ fencing contests and his own. “When tournaments overlap, it’s such a dilemma,” says Mr. Luo, who, like his sons, competes at a national level. Mr. Luo, 42, fenced in high school and competed with a club at the University of Massachusetts Amherst. He took a 10-year hiatus from the sport to co-found Caraa, a New York-based luxury accessories brand, in 2014. So he dusted off his epee, the largest and heaviest of the three fencing swords.

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