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Persons: Dow Jones

Persons: Dow Jones

☆ The macroeconomic picture is relatively challenging in China, economist says
▼ + stars: | 2023-08-15 | 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 EmailThe macroeconomic picture is relatively challenging in China, economist saysHao Zhou, chief economist at Guotai Junan International, says Chinese policymakers will prevent an economic slump and try to deliver on its growth target of 5% this year.

Persons: Hao Zhou Organizations: Guotai Locations: China

☆ China surprises with rate cuts as economy grapples with 'confidence crisis'
▼ + stars: | 2023-08-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +4 min

Str | Afp | Getty ImagesChina's central bank unexpectedly cut rates on Tuesday, as policymakers continued to ramp up support for its struggling economy. It was the second rate cut in three months. China is facing a "confidence crisis" as Beijing's policy delay is being perceived as "inaction" to spur growth, according to an economist. "In a crisis such as this … you can't really call it a consumption crisis or investment crisis. In addition to the rate cut on Tuesday, the central bank also injected 204 billion yuan through seven-day reverse repos, cutting borrowing costs by 10 basis points to 1.80% from 1.90%.

Persons: we've, Louise Loo, CNBC's, Loo, they've, 15bps, Goldman Sachs, Hao Zhou Organizations: Afp, Getty, People's Bank of China, Oxford Economics, Guotai Locations: China

☆ Country Garden's missed dollar bond coupon payments came as a 'big surprise,' economist says
▼ + stars: | 2023-08-10 | 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 EmailCountry Garden's missed dollar bond coupon payments came as a 'big surprise,' economist saysHao Hong, partner and chief economist at Grow Investment Group, discusses the prospects for China's Country Garden, one of the largest non-state-owned developers by sales, which reportedly missed two coupon payments on dollar bonds that were due Sunday.

Persons: Hao Hong Organizations: Grow Investment

☆ China Drafts Rules for Facial-Recognition Use
▼ + stars: | 2023-08-08 | by ( Karen Hao | Liza Lin | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/china-drafts-rules-for-facial-recognition-use-4953506e

Persons: Dow Jones

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Walt Disney Studios in Burbank, California, U.S., July 31, 2023. As evidence of its interest, Disney has 11 current job openings seeking candidates with expertise in artificial intelligence or machine learning. AI has become a powder keg in Hollywood, where writers and actors view it as an existential threat to jobs. In Switzerland, Disney Research has been exploring AI, machine learning and visual computing, according to its website. This technology is used to augment digital effects, not replace human actors, according to a source familiar with the matter.

Persons: Mario Anzuoni, Walt Disney, Walt Disney Imagineering, Indiana Jones, Disney Imagineer, Groot, Imagineer, Harrison Ford, STEAMBOAT WILLIE, Willie, Bob Iger, Marvel, Hao Li, Li, Scott Trowbridge, Dawn Chmielewski, Krystal Hu, Kenneth Li, Matthew Lewis Organizations: Writers Guild of America, Walt Disney Studios, REUTERS, Hollywood, Reuters, Disney, Guardians, Screen Actors Guild, STEAMBOAT, U.S . Patent, Swiss Federal Institute of Technology, Carnegie Mellon University, Disney Research, Star, Galactic, Thomson Locations: Burbank , California, U.S, Hollywood, Zurich, Pittsburgh , Pennsylvania, Pittsburgh, Disney's, Switzerland, Los Angeles, New York

☆ The Art of Telling Forbidden Stories in China
▼ + stars: | 2023-08-03 | by ( Han Zhang | ) www.nytimes.com time to read: +5 min

Browsing one of the literature bulletin boards, he came across a serialized novel titled “My Beijing,” published under the pseudonym Drunken Fish. Hao’s depiction of Chengdu’s seedy underbelly became a sensation on forums like Tianya, one of the period’s largest blogging platforms. Once, a colleague recommended the novel to Hao without knowing that he was Murong Xuecun. “From the get-go, he has been completely obsessed with how people are corrupted by the environment in which they live,” says Megan Walsh, author of “The Subplot,” a book about contemporary Chinese literature. Later, at a propaganda meeting, the deputy party secretary of Chengdu criticized Hao’s fiction for damaging the city’s image.

Persons: Hao, ”, Fish, Murong Xuecun, Wei Da, Wei, Megan Walsh, Li Boqing, Li, Ran Yunfei, ” Ran Organizations: Authorities, Writers ’ Association, International New York Times Locations: Beijing, H.R, Shenzhen, Chengdu, China, North Africa, Weibo

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Persons: Dow Jones Locations: kenya

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/chatgpt-openai-content-abusive-sexually-explicit-harassment-kenya-workers-on-human-workers-cf191483

Persons: Dow Jones Locations: kenya

☆ CNBC Daily Open: The long-awaited recession might not come
▼ + stars: | 2023-07-18 | 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. Meanwhile, China's lackluster gross domestic product figures, released yesterday, prompted Wall Street to cut their expectations of China's annual growth to around 5%. Peak oil demandIndia imported 2.2 million barrels of Russian oil per day in June. Since Russia invaded Ukraine in February last year and oil price caps were instituted, India has become one of the leading importers of Russian oil. Buffett previously revealed Berkshire added to its initial Activision stake in a bet the deal would close and cause shares to rise.

Persons: Hong, Hong Hao, Viktor Katona, Berkshire Hathaway, Buffett, Bitcoin, bitcoin Organizations: New York Stock Exchange, CNBC, Grow Investment, Activision Blizzard, Microsoft, Activision, BlackRock Locations: New York City, Asia, Pacific, India, Russia, Ukraine, Berkshire

☆ China's risk of deflation is 'serious' — one economist says it's 'time to act'
▼ + stars: | 2023-07-18 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Fears are growing that China's economy is tethering on the verge of deflation after another slate of underwhelming economic data provided more evidence of stagnating growth, renewing calls for more meaningful policy intervention. On Monday, Beijing announced that GDP for the second quarter grew 6.3% from a year ago, missing market expectations for 7.3%. "We need to see broad and persistent price pressure before we can declare deflation," said Hong Hao, Grow Investment Group's chief economist. "I think we are on the verge of deflation. The annual decline in June was China's ninth consecutive drop and its steepest since December 2015.

Persons: Hong Hao, Hong, — Organizations: Grow Investment Locations: Beijing

[1/3] US Treasury Secretary Janet Yellen speaks during her meeting with China's Vice Premier He Lifeng (out of frame) at the Diaoyutai State Guesthouse in Beijing on July 8, 2023. Yellen said nothing publicly to indicate that the U.S. was poised to ease tariffs, but commentators in China were hopeful, amid a U.S. Trade Representative review. "While U.S might continue its technological curbs on China, a reduction or exemption of non-core tariffs against China is possible." Yellen last year advocated eliminating some duties on "non-strategic" goods as a way to ease some specific costs amid high inflation. Haley has said she would push Congress to revoke China’s trade status until China curbs its alleged role in the fentanyl trade.

Persons: Janet Yellen, Lifeng, Pedro PARDO, Janet Yellen's, Biden, Harry Broadman, Donald Trump's, Premier Li Qiang, Yellen, Hong Hao, Chad Bown, " Bown, Josh Hawley, Ron DeSantis, Nikki Haley, Haley, Donald Trump, David Lawder, Andrea Shalal, Gram Slattery, Jeff Mason, Heather Timmons, Nick Zieminski Organizations: China's, WASHINGTON, . Treasury, Trump, White House, World Bank, Berkeley Research, Premier, U.S . Treasury, . Trade, China's Finance, U.S, Grow Investment, Times, Peterson Institute of International Economics, Reuters, Republican, Firebrand, Thomson Locations: Diaoyutai, Beijing, China, U.S, Washington, U.s, Donald Trump's China, CHINA, Xinjiang, Hong Kong, Florida, Mexico, Cuba

☆ Premier urges Chinese tech giants to support economy as crackdown ends
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

After listening to suggestions from firms that also included PDD Holdings' (PDD.O) Pinduoduo and JD.com (9618.HK), Li told them authorities would seek to make regulation of platform firms more transparent and predictable. Shares in some U.S.-listed Chinese firms rallied in premarket trade, with Alibaba Group Holding gaining 2.2% and PDD Holdings rising 2.7%. Still Zhou Hao, economist at Guotai Junan International, said Wednesday's meeting was a "positive signal". "A sound development of the platform economy is very significant to investors too. Prudent development of platform firms is important to investors' long-term valuation," he added.

Persons: Li Qiang, Li, ByteDance's Douyin, Zhou Hao, Ella Cao, Brenda Goh, Ellen Zhang, Ethan Wang, Ryan Woo, Barbara Lewis, Mark Potter Organizations: Wednesday, HK, PDD Holdings, Alibaba, Ant, Reuters, Guotai, Thomson Locations: BEIJING, China, premarket

[1/2] US Treasury Secretary Janet Yellen speaks during a lunch meeting with women economists in Beijing, on July 8, 2023. Pedro Pardo/Pool via REUTERS/File PhotoHONG KONG, July 10 (Reuters) - A group of Chinese female economists who met with U.S. Treasury Secretary Janet Yellen over the weekend have been lambasted on Chinese social media by some netizens who accused them of treason for meeting her and being "radical feminists". Yellen, a trailblazer in the field of economics, had lunch with six female economists in Beijing on Saturday, an effort to spotlight gender diversity following meetings with China's largely male government leaders. Some users called Yellen an "obviously dangerous person" asking why she was allowed to be officiated as a public guest in the country, while others called out the female economists as being pro-American. "Look at the bunch, the anti-espionage law might come in handy," wrote a user called Shan3847, while another user wrote "Everyone around the table should be caught, no one is innocent.

Persons: Janet Yellen, Pedro Pardo, China's, Hao Jingfang, Yellen, Hao, Xi, Communist Party's, Devika Organizations: U.S, Treasury, American, U.S . Federal Reserve, Communist, Thomson Locations: Beijing, HONG KONG, China, U.S, United States

☆ Economist Hao Hong discusses China's economic outlook
▼ + stars: | 2023-07-10 | 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 EmailThere'll be a greater urge to roll out blanket stimulus if China's economy slows further: EconomistHao Hong, Grow Investment Group's chief economist, says there's a debate about whether to hand out coupons, like Western economies do, to Chinese consumers.

Persons: Hao Hong, there's Organizations: Grow Investment

☆ Yellen's China trip yields long meetings, 'cordial' tone, but no consensus
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +5 min

"The accomplishment of the meeting was the meeting itself, not specific issues," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. A senior U.S. Treasury official accompanying Yellen on her first trip to China as secretary described it as "respectful, frank and constructive," adding: "She was warmly received." Her meeting on Saturday with He, China's new economic czar, was scheduled for two hours but lasted five, followed by a "cordial" dinner, the official said. In the meantime, Yellen said the talks set the stage for more frequent U.S.-China communications at the staff level about economic issues, including areas of disagreement. A possible venue for this would be the Asia-Pacific Economic Cooperation summit in San Francisco in November.

Persons: Janet Yellen, Yellen, Lifeng, Scott Kennedy, Premier Li Qiang, Pan Gongsheng, Joe Biden's, Jake Colvin, Hong Hao, Hong, Colvin, Biden, John Kerry, Gina Raimondo, Xi Jinping, Wang Yiwei, David Lawder, Andrea Shalal, Ryan Woo, Ellen Zhang, Qiaoyi Li, Stephen Coates Organizations: . Treasury, U.S, Center for Strategic, International Studies, Global Times, Treasury, Premier, People's Bank of China, National Foreign Trade Council, Grow Investment, . Commerce, Renmin University, Economic Cooperation, Thomson Locations: Beijing, China, Washington, China's, U.S, United States, Hong Kong, Asia, San Francisco, Anchorage , Alaska

☆ Chinese rush to buy Hong Kong insurance, dollars as confidence cracks, yuan weakens
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +5 min

SHANGHAI/HONG KONG, July 6 (Reuters) - Chinese investors are rushing offshore to make dollar deposits and buy Hong Kong insurance in a signal domestic confidence is languishing and that the ailing yuan faces more pressure. New premiums collected on Hong Kong insurance policies leapt a staggering 2,686% to $9.6 billion in the first quarter of 2023. "The burst of insurance buying in Hong Kong reflects a gloomy domestic outlook, and worries about an uncertain future." "Offshore demand for policies denominated in Hong Kong dollars is low – U.S. dollar-denominated policies are more prevalent, to provide access to global asset allocation," said Lawrence Lam, chief executive officer at Prudential Hong Kong. The wealth manager at Noah fears that a sustained rush into Hong Kong insurance risks inviting Beijing's policy tightening.

Persons: Helen Zhao, lurch, Noah Holdings, Lawrence Lam, Hao Hong, Tan Xiaofen, We've, Sami Abouzahr, Samuel Shen, Winni Zhou, Georgina Lee, Summer Zhen, Tom Westbrook, Kim Coghill Organizations: Hong, AIA, HK, Prudential, Manulife, Noah Holdings, Savings, Bank of China, U.S, Prudential Hong Kong, Investment, School of Economics, Management, Beihang University, HSBC, Thomson Locations: SHANGHAI, HONG KONG, Hong Kong, Macau, COVID, U.S, Beijing

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/mark-zuckerberg-was-early-in-ai-now-meta-is-trying-to-catch-up-94a86284

Persons: Dow Jones, zuckerberg

☆ What one key business indicator is saying about China's consumer recovery
▼ + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"For 618, generally of course brands will be trying, but compared to before it's a bit more tired," said Ashley Dudarenok, founder of ChoZan, a China marketing consultancy. In the first quarter, the median disposable income of urban residents in China was officially 12,175 Chinese yuan ($1,739), up 3.9% from a year ago. A focus on affordabilitySluggish economic growth and uncertainty about future income have weighed on Chinese consumer spending since the Covid-19 pandemic. watch nowBrands are keen to spend more on ByteDance's Douyin, likely taking away from ad spending on Alibaba's Taobao and Tmall e-commerce platforms, Oliver Wyman's Xie said. And for brands spending on Douyin, he said the return on investment per ad dollar was getting lower.

Persons: Jade Gao, Ashley Dudarenok, Dudarenok, let's, Microsoft's Bing, Dave Xie, Oliver Wyman, Douyin, Oliver Wyman's Xie, ByteDance isn't, doesn't, Pinduoduo, Sun Hao, Sun, didn't, Trip.com, Kelly Shi Organizations: Afp, Getty, Baidu, Retail, Brands, Growth, Nestle, Netflix Locations: Beijing, BEIJING, China

☆ OpenAI CEO Calls for Collaboration With China to Counter AI Risks
▼ + stars: | 2023-06-10 | by ( Karen Hao | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/openai-ceo-calls-for-collaboration-with-china-to-counter-ai-risks-eda903fe

Persons: Dow Jones

☆ Chinese regulators warn four analysts over Feb 2022 strategy report
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

The research report, published in February 2022 when China was battling the pandemic, predicted that the domestic stock market would still seek bottom following a rebound, as the economy was under heavy downward pressure. Negative comments by analysts and commentators in China are often censored and have come under increased regulatory scrutiny. The warning comes as China's stock market is struggling to stand on its feet amid signs the post-COVID recovery is losing steam. Other analysts and commentators in China have been censored or come under scrutiny after negative comments in the past. Separately, China's securities watchdog last March launched a crackdown on brokerages using feng shui to predict stock market trends in their research notes, state media reported.

Persons: CSRC, Zhang Xia, Chen Gang, Geng Ruitan, Tu, Yi Huiman, Hong Hao Organizations: China Merchants Securities, China Securities Regulatory Commission, Bank of Communications International Holdings Co, Shanghai, Thomson Locations: SHANGHAI, China, Shenzhen

A cargo ship carrying containers is seen near the Yantian port in Shenzhen, following the novel coronavirus disease (COVID-19) outbreak, Guangdong province, China May 17, 2020. BEIJING — China's exports fell in May for the first time since February, customs data showed Wednesday. Exports fell 7.5% year-on-year to $283.5 billion, far worse than the 0.4% decline predicted by a Reuters poll. The disappointing export figures indicate that the longer-term trend is down, said Hao Hong, chief economist at Grow Investment Group. China won't be able depend on trade to boost its economy for "another six months, for sure," he said, noting a drag from lackluster U.S. demand, where inflation — and interest rates — remain high.

Persons: Hao Hong Organizations: Grow Investment Locations: Shenzhen, Guangdong province, China, BEIJING

☆ China's exports are likely to decelerate this month, economist says
▼ + stars: | 2023-06-07 | 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's exports are likely to decelerate this month, economist saysHao Hong of Grow Investment Group says imports are also likely to be weak.

Persons: Hao Hong Organizations: Grow Investment

☆ U.S.-China ties weigh on security summit as defense chiefs meet in Singapore
▼ + stars: | 2023-06-02 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Regional concerns were underscored recently with the Pentagon saying that a Chinese fighter jet made an "unnecessarily aggressive maneuver" against an American reconnaissance plane in the South China Sea late last week. Under President Xi Jinping's leadership, China has grown more hawkish on the global stage, particularly in its historic claims over Taiwan and the South China Sea. "What you are seeing is the emergence of a regional security architecture," said Thompson of the LKY School. "The region is really coming together with a common interest in regional security and stability." Singapore is Austin's second stop on a whirlwind tour that will also take him to Japan, India and France.

Persons: Li, Xi Jinping's, We're, Chin, Hao Huang, Wang Wenbin, Huang, What's, Anthony Albanese, Thompson, Li —, Donald Trump, Austin, Joe Biden Organizations: Yale, NUS College, CNBC, International Institute for Strategic Studies, Australian, LKY, Pentagon, Association of Southeast Asian Nations, Observers Locations: Austin, American, South, China, Taiwan, South China, Asia, Pacific, Brunei, Indonesia, Malaysia, Philippines, Vietnam, Singapore, Japan, South Korea, Australia, India, Beijing, Korea, France, U.S

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