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Star fund manager Zhang Kun, who manages nearly 90 billion yuan for Guangzhou-based E Fund Management, has seen his flagship 56 billion yuan Blue Chip Selected Mixed Fund lose 8% so far this year. The fund soared 95% in 2020 which attracted significant subscriptions and helped Zhang become China's first so-called "100 billion fund manager". Another high profile fund manager, Ge Lan at Lombarda China Fund Management, saw her flagship 28 billion yuan healthcare fund retreat 7% in 2021 and 23% in 2022, after a nearly 100% gain in 2020. "Not just mutual funds, the overall fund issuance is difficult, as this is closely connected with the economic situation," Steve Chen, partner of Shanghai-based hedge fund manager MX Capital. To boost market sentiment, some mutual funds announced fee cuts or started to purchase their own fund shares recently.

Persons: Thomas Peter HONG, Jiao Jinyuan, Zhang Kun, Zhang, Ge Lan, Emily Gao, Steve Chen, Debbie Dai, Dai, China Asset’s Jiao, Summer Zhen, Sumeet Chatterjee, Kim Coghill Organizations: REUTERS, Z, Ben Advisors, CSI, China Asset Management, Star, E Fund Management, China Fund Management, MX Capital, Thomson Locations: Beijing, China, Thomas Peter HONG KONG, Guangzhou, Shanghai

☆ How Samsung became the world’s No. 2 advanced chipmaker and set the stage for a U.S. manufacturing boom
▼ + stars: | 2023-06-09 | by ( Katie Tarasov | ) www.cnbc.com time to read: +5 min

In this article NVDAQCOM6758.T-JPAMATAMD2330-TW.FKRX300MUAAPL Follow your favorite stocks CREATE FREE ACCOUNTSamsung's $17 billion new chip fab is under construction in Taylor, Texas, on April 19, 2023. CNBC recently went inside Samsung's Austin chip fab, for the first in-depth tour given on camera to a U.S. journalist. Samsung got its start in 1938 as the Samsung Sanghoe Trading Company, founded by Lee Byung-chull in Korea. Just a decade after making its first memory chip, Samsung was coming to market with a version that had 1,000 times the capacity. As consumers rein in their spending in the face of rising inflation, demand for memory chips has weakened sharply.

Persons: Katie Brigham, Jon Taylor, Patel, Jinman Han, Han, Lee Byung, Lee Kun, Geoffrey Cain, weren't, Apple, Cain, Jay Y, Lee, Yoon Suk, Joe Biden, Jonathan Ernst Organizations: AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Intel, they'll, CNBC, Austin, Samsung Sanghoe Trading Company, Samsung Samsung, Samsung Electronics, Samsung TV, Hankook Semiconductor, Apple, Republic of Samsung, Samsung Electronics Pyeongtaek, Reuters Locations: Taylor , Texas, TSMC, U.S, Korea, New Jersey, Silicon Valley, South Korea, Republic of, Austin , Texas, Texas, Austin, Pyeongtaek

WASHINGTON, May 16 (Reuters) - The speaker of Taiwan's parliament praised Japan, South Korea and the Philippines on Tuesday for helping to create a "crescent of defense" with Taiwan and the U.S. against China's ambitions in the Indo-Pacific region. You praised Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol for calling Taiwan a global issue and opposing a change to the status quo by force. "The crescent of defense formed by Korea, Japan, Taiwan and the Philippines will, with American support, be a key stabilizer of peace and security in the Indo-Pacific region," he added. China has been stepping up its military activities around Taiwan to try and force the democratically governed island to accept Beijing's sovereignty. It has never renounced the use of force to bring Taiwan under its control.

☆ This golden statue was ridiculed when a local government erected it. Then gold price skyrocketed.
▼ + stars: | 2023-05-11 | by ( Jake Kwon | ) edition.cnn.com time to read: +3 min

The county government decided it would erect a statue of bats – dubbed “golden bats” by savvy marketers – made from, as one could guess, pure gold. Then it took three years for renowned South Korean sculptor Byun Kun-ho to sculpt five golden bats flying through a massive silver ring. Its detractors viewed spending millions on a golden statue as a waste, while the county relies on subsidies for around 90% of its revenue. A local newspaper called the move a “flashy but hollow bureaucratic decision” that was “divorced from the local sentiment.”After an attempted heist, additional security has been installed to protect the golden statue. But the value of the golden statue has attracted unwanted attention too.

☆ Macron comments leave senior Taiwanese official 'puzzled'
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 12 (Reuters) - Comments by French President Emmanuel Macron on Taiwan are puzzling, a senior Taiwanese politician said, wondering whether France's founding ideals of liberty, equality and fraternity are now out of fashion. He also called for the European Union to reduce its dependence on the United States and to become a "third pole" in world affairs alongside Washington and Beijing. Taiwan parliament speaker You Si-kun, writing on Facebook late Tuesday above a screengrab of a report about Macron's comments on Taiwan, questioned the French commitment to freedom. "Are 'liberté, égalité, fraternité' out of fashion?," he wrote, referring to the official French motto of "liberty, equality, fraternity". "The actions of President Macron, a leading international democracy, leave me puzzled."

☆ Senior US lawmaker says doing everything possible to speed up Taiwan arms deliveries
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +3 min

[1/5] Michael McCaul, Chairman of the U.S. House Foreign Affairs Committee, who is leading a delegation of US lawmakers visiting Taiwan, and Taiwan's Parliament Speaker You Si-kun, shake hands during a news conference at the parliament in Taipei, Taiwan April 7, 2023. REUTERS/Carlos Garcia RawlinsTAIPEI, April 7 (Reuters) - A senior U.S. lawmaker said on Friday he was doing everything possible to speed up the delivery of weapons to Taiwan, suggesting other countries that have the arms could sell them onto the island with U.S. government permission. Taiwan has since last year complained of delays to U.S. weapons deliveries, such as Stinger anti-aircraft missiles, as manufacturers turn supplies to Ukraine to support its defence against Russia. "On the weapons issue, I sign off on those deliveries and we are doing everything in our power to expedite this," he said, speaking at Taiwan's parliament where he met its speaker, You Si-kun. While China staged war games around Taiwan in August after then-Speaker Nancy Pelosi visited Taipei its reaction this time has been more muted.

☆ US corporates and China hug awkwardly in Beijing
▼ + stars: | 2023-03-27 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

The final quarter saw a slight rebound, but American FDI into China has been slowing for years. Despite their suspicions of the U.S. government, Chinese officials don’t want American capitalists to stop investing in the country because their firms create jobs, bring technology and best practices. Anecdotal evidence suggests even in harmless industries like textiles and market research, decoupling is becoming the default American investment thesis. If China surprises by dramatically boosting internal demand, U.S. executives and their shareholders will be placated. Cook is in Beijing to attend the China Development Forum, a flagship investment conference organised by the government and held March 25-27.

☆ Factbox: Key takeaways from China's annual NPC parliamentary meeting
▼ + stars: | 2023-03-13 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

These include Premier Li Qiang, NPC Chairperson Zhao Leji, Executive Vice-Premier Ding Xuexiang, and Vice President Han Zheng. China's private sector has been rattled in recent years by a sweeping regulatory clampdown targeting some of its most vibrant industries, including the internet and private education. The new national financial regulatory administration will replace the existing banking and insurance watchdog and oversee all aspects of China's $57 trillion financial sector apart from the securities market. A separate top-level party financial watchdog, the Central Financial Work Commission, is likely to be resurrected after the NPC, sources earlier told Reuters. This will likely have responsibility for the new state financial regulator.

However, further announcements are expected in coming weeks as China implements a reorganisation of its financial regulatory structure and other government bodies. "Opting for continuity in these critical economic roles suggests an emphasis on credibility and stability," said Mattie Bekink, China director at the Economist Intelligence Corporate Network. The U.S.-educated central bank chief Yi, appointed PBOC governor in 2018, had widely been expected to retire after being left off the ruling Communist Party's Central Committee during the party's once-in-five-years congress in October. "It shows China wants to at least have a dialogue with the United States on monetary policy and financial cooperation," he said. The parliamentary session will end on Monday, with Xi expected to give a speech and Li, the new premier, scheduled to hold a televised media conference afterwards.

China's four new vice premiers:Ding Xuexiang, 60, is the first-ranked vice premier who also sits in the ruling Communist Party's Politburo Standing Committee, China's top echelon of power. Wang Zhigang, 65, remains minister of science and technology. Huai Jinpeng, 60, remains minister of educationPan Yue, 62, remains head of the National Ethnic Affairs CommissionWang Xiaohong, 65, remains minister of public securityChen Yixin, 63, remains minister of state security. Considered a Xi ally, he had worked with Xi when the latter was party chief of Zhejiang province from 2002-2007. Tang Dengjie, 63, remains minister of civil affairsHe Rong, 60, remains minister of justiceWang Xiaoping, 59, remains minister of human resources and social securityWang Guanghua, 59, remains minister of natural resourcesHuang Runqiu, 59, remains minister of ecology and environmentNi Hong, 60, remains minister of housing and urban-rural developmentLi Xiaopeng, 63, remains minister of transportLi Guoying, 63, remains minister of water resourcesTang Renjian, 60, remains minister of agriculture and rural affairsHu Heping, 60, remains minister of culture and tourismMa Xiaowei, 63, remains head of the National Health CommissionPei Jinjia, 59, remains minister of veterans affairsWang Xiangxi, 60, remains minister of emergency managementHou Kai, 60, remains auditor-general of the National Audit OfficeReporting by Yew Lun Tian, Ziyi Tang, additional reporting by Albee Zhang; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ Global asset managers in China grapple with fraudulent investor schemes
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +4 min

Such scams have become so widespread that China's securities regulator issued a rare statement on Thursday cautioning investors against fund-raising schemes purporting to be from foreign asset managers. The online rackets add reputational risks for global asset managers already suffering from trademark disputes, geopolitical worries, and cut-throat competition in China. "Swindlers mushroom when the economy is bad," said an executive at a consultancy that serves global asset managers in China. "Cheaters and life-long learners ... some tech-savvy ones would even copy the programming of a foreign money manager's website," he said. Scams using Van Eck's brands first emerged in China's southern Guangdong and Southwestern Guangxi provinces, and later sprung up in central Sichuan province, the source said.

☆ World Bank promises 'concessionality' in debt restructuring
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 25 (Reuters) - The World Bank will "provide as much concessionality to the debt treatment" for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday. The United States, meanwhile, has repeatedly criticised China over its "foot-dragging" on debt relief for dozens of low-and middle-income countries. "The World Bank is committed to providing net positive flows in a way that maximizes concessionality in the restructuring process," David Malpass said at the Global Sovereign Debt Roundtable in India's Bengaluru city on the sidelines of the G20 financial leaders' meet. "We will provide as much concessionality to the debt treatment as possible." On Friday, Chinese Finance Minister Liu Kun told the G20 financial leaders that international financial institutions and commercial creditors should follow the principle of "joint action, fair burden" in debt settlements.

☆ China calls for 'joint action' in debt settlements at G20
▼ + stars: | 2023-02-24 | by ( Joe Cash | ) www.reuters.com time to read: +3 min

BEIJING, Feb 24 (Reuters) - China, the world's largest bilateral creditor, urged G20 nations on Friday to conduct a fair, objective and in-depth analysis of the causes of global debt issues and to "resolve the problem in a comprehensive and effective manner." The United States has repeatedly criticised China over what it considers to be "foot-dragging" on debt relief for dozens of low-and middle-income countries. According to a statement released by his ministry, Liu said that international financial institutions and commercial creditors should follow the principle of "joint action, fair burden" in debt settlements. Officials from the IMF, the World Bank and G7 nations will meet on Saturday on the sidelines of the G20 meeting for the first in-person discussions of the new IMF Global Sovereign Debt Roundtable. China's role in the G20 Common Framework, however, is expected to feature in Saturday's talks.

☆ North Korea may try to pressure U.S. with ICBM, nuclear tests - S.Korean lawmakers
▼ + stars: | 2023-02-22 | by ( Hyonhee Shin | ) www.reuters.com time to read: +3 min

[1/3] A Hwasong-15 intercontinental ballistic missile (ICBM) is launched at Pyongyang International Airport, in Pyongyang, North Korea February 18, 2023 in this photo released by North Korea's Korean Central News Agency (KCNA). KCNA via REUTERSSEOUL, Feb 22 (Reuters) - North Korea could test-fire intercontinental ballistic missiles on a lower, longer trajectory and conduct its seventh nuclear test this year to perfect its weapons capabilities, South Korean lawmakers said on Wednesday, citing intelligence officials. The briefing came as the U.S., South Korean and Japanese navies staged joint tactical drills on Wednesday in waters between the Asian neighbours. A Japanese escort vessel and U.S. and South Korean destroyers joined the training aimed at stepping up trilateral ballistic missile responses, Tokyo's defence ministry said. Youn Kun-young, another member of the committee, said North Korea might also develop solid fuel-based ICBMs this year, and confirmed the defence ministry's report that Chinese spy balloons did not enter South Korean airspace.

☆ Explainer: What we know about China's medical reform protests
▼ + stars: | 2023-02-16 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

WHAT ARE THE MEDICAL INSURANCE REFORMS? Beginning Feb. 1, personal medical insurance benefits for Wuhan retirees were slashed from about 5% of the average basic pension to 2.5%, or 83 yuan ($12) per month, according to the Wuhan Healthcare Security Administration. In an essay published Thursday that did not refer to the protests, Finance Minister Liu Kun vowed to "deepen the reform of medical insurance payment methods". Following initial protests in Wuhan last week, the hashtag "Major adjustment in Wuhan medical reform" was viewed over 100 million times before being blocked. Since January, similar insurance reforms have been rolled out in provinces and regions including Jiangxi, Gansu，Shanxi, Qinghai, Sichuan and Guangxi.

[1/2] Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. "If Taiwan falls into the sphere of influence of CCP, then the beacon of democracy will be destroyed. Speaking through a translator, You said about 50% of global shipping used the Taiwan Strait between the island and China, "so it has very important economic significance for the global trade." "And ... Taiwan has produced the best semiconductor chips and will be very important for global trade as well," he said. "So if Taiwan cannot be safeguarded very carefully, it will be very dangerous to global trade as well as global peace."

☆ I run a multimillion-dollar specialty-coffee business that I started 5 years ago. Here are our 3 main marketing channels and how we measure success.
▼ + stars: | 2022-12-13 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +8 min

Sahra Nguyen is the founder and CEO of Nguyen Coffee Supply, which sells Vietnamese coffee. On social media, I can share ideas for ways to enjoy our beans and insights into how to use our specialty-coffee equipment. I can show behind-the-scenes shots of the Vietnamese coffee farmers we work with directly and explain why Vietnamese coffee is so special. We sought out food publications to discuss why Vietnamese coffee deserved a rebrand and what it could offer serious coffee lovers. So we eventually started to add in paid advertising on Instagram, Facebook, and Google to scale our message to newer audiences.

☆ Canelo slams Messi over Mexico team World Cup jersey
▼ + stars: | 2022-11-28 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

The Argentina star may have gotten into trouble with the wrong person after moving the Mexican national team jersey with his foot while celebrating his team’s much-needed World Cup win against Mexico on Saturday. The Mexican boxer said on Twitter that Messi “was cleaning the floor” with the Mexican shirt. Messi was taking his right shoe off when he — apparently without intention — moved the Mexico shirt which he had exchanged with a Mexican player after Argentina’s 2-0 win. The 35-year-old Messi is trying to win his first World Cup title with Argentina. The win over Mexico kept the Argentines in position to advance to the knockout round.

☆ Super skills on show for Guinness World Records Day
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 10 (Reuters) - Feats ranging from the most alternating single-arm handstands in one minute to solving the most rotating puzzle cubes while skateboarding are being celebrated in this year's Guinness World Records Day. With the theme of "Super Skills", the 19th annual event has prompted people across continents to set new milestones for what is humanly possible. "Guinness World Records Day is a global celebration of the superlative so it's a chance for everyone around the world to have a go at getting their name in the famous Guinness World Records book," said Craig Glenday, editor-in-chief of Guinness World Records. "We've all got skills, we've all got party tricks but are they good enough to make it into the Guinness World Records book. Nicolas Montes de Oca from Mexico scored three titles: most single-arm handstands in one minute (male) with 23 repetitions, most handstands in one minute (male), totalling 41 repetitions, and most alternating single-arm handstands in one minute, with 32 repetitions.

☆ Jay Y. Lee Formally Becomes Samsung’s Leader
▼ + stars: | 2022-10-27 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Jay Y. Lee had been serving as the de facto head of Samsung. SEOUL— Samsung Electronics Co. has officially appointed Lee Jae-yong as executive chairman, an elevation in title that formalizes the all-encompassing role he has played for years at South Korea’s largest business conglomerate. The 54-year-old Mr. Lee—who goes by Jay Y. Lee in the West—had previously held the title of Samsung Electronics vice chairman. He takes over a position previously held by his father, Lee Kun-hee, who died two years ago and had been incapacitated after a 2014 heart attack.

☆ Samsung’s De Facto Leader, Jay Y. Lee, Formally Takes the Top Job
▼ + stars: | 2022-10-27 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Jay Y. Lee had been serving as the de facto head of Samsung. SEOUL— Samsung Electronics Co. officially appointed Lee Jae-yong as its executive chairman, formalizing the all-encompassing leadership role he has long played at South Korea’s largest business conglomerate. The 54-year-old Mr. Lee—who goes by Jay Y. Lee in the West—had previously held the title of Samsung Electronics vice chairman. He takes over a position previously held by his father, Lee Kun-hee, who died two years ago after being incapacitated by a 2014 heart attack.

☆ Samsung Electronics names Jay Y. Lee executive chairman
▼ + stars: | 2022-10-27 | by ( ) www.cnbc.com time to read: +1 min

Samsung Electronics' de facto leader Lee Jae-yong during U.S. President Joe Biden's visit on May 20, 2022 in Pyeongtaek, South Korea. Samsung Electronics ' de facto leader Jay Y. Lee was named executive chairman on Thursday, a symbolic move confirming that South Korea's most valuable company will be officially run by the third generation of its founding family. The change reflects a role Lee, 54, has held since his father, the late patriarch and Samsung Group chairman Lee Kun-hee, was hospitalized in 2014, analysts said. Lee has been vice chairman of Samsung Electronics, the crown jewel of South Korea's biggest business conglomerate, since 2012. "The Board cited the current uncertain global business environment and the pressing need for stronger accountability and business stability in approving the recommendation," Samsung said in a statement.

☆ Samsung boss Jay Y. Lee to build on late father's legacy
▼ + stars: | 2022-10-27 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

Lee, 54, has been vice chairman of Samsung Electronics, the crown jewel of South Korea's biggest business conglomerate, since 2012. That is a major business risk for Samsung, which counts both China and the United States as major markets. But Samsung insiders say his quiet, urbane manner disguises a steely determination Lee will need if he is to grow Samsung. As an only son, Lee was groomed by his father to take over the core business of Samsung Group, which his grandfather founded in 1938. Shares in construction affiliate Samsung C&T (028260.KS), in which Lee owns a 18% stake, rose as much as 7.1%.

☆ Samsung Elec names Jay Y. Lee executive chairman
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Oct 27 (Reuters) - Samsung Electronics' (005930.KS) de facto leader Jay Y. Lee has been named executive chairman of the company, it said on Thursday, a symbolic move heralding that South Korea's most valuable company will be officially run by the third generation of its founding family. The change reflects a role Lee has held since his father, the late patriarch and Samsung Group chairman Lee Kun-hee, was hospitalised in 2014 and died in 2020, analysts said. Lee, 54, has been vice chairman of Samsung Electronics, the crown jewel of South Korea's biggest business conglomerate, since 2012. Reporting by Joyce Lee; Editing by Christian Schmollinger and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Reports shed new light on last hours of S.Korean slain by North in 2020
▼ + stars: | 2022-10-20 | by ( Hyonhee Shin | ) www.reuters.com time to read: +9 min

REUTERS/Kim Hong-JiSEOUL, Oct 20 (Reuters) - An investigation by the government of South Korean President Yoon Suk-yeol is raising fresh questions about the death of a South Korean official in 2020, which the previous administration wrote off as a failed defection attempt. Prosecutors on Tuesday filed for arrest warrants against a former defence minister and the former coast guard chief. The parliamentary report concludes that the coast guard and navy violated rules during their initial rescue efforts by failing to seek help from other vessels and authorities nearby. In June 2022, the coast guard apologised for "causing confusion", and its chief and eight other senior officials resigned. Prosecutors have raided a presidential archive and the offices and homes of two former intelligence chiefs, a former defence minister and the resigned coast guard head.

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