Trend-setter Shein on Mexico expansion ideals
Shein, a prominent online fashion retailer, is considering the establishment of a factory in Mexico as part of its efforts to expand its manufacturing capabilities beyond China, according to insider sources. This move is seen as a step towards localizing production, which could result in shorter shipping times and reduced distribution costs for Shein’s customers […]
Chip firm CXMT in dire straits with legislators chasing tails
On Tuesday, the chairman of the U.S. House of Representatives’ committee on China called for trade restrictions on Changxin Memory Technologies (CXMT), a Chinese memory chip maker. This request follows China’s recent ban on the sale of certain chips by Micron Technology Inc, a U.S.-based company. The trade dispute between the two largest economies in […]
Chinese consulting businesses tested their cap; Beijing outlook
After some businesses tried to push the boundaries of the law and Beijing’s tolerance to satisfy surging need as China broke free from its COVID-lockdowns, the country’s crackdown on the consulting and due diligence area forced them to review how they were operating. These consultancies prospered by giving investors, ranging from large hedge funds to the private equity companies, […]
Dollar declines on expectations of weaker US rate increases and China’s resumption
On Monday, risk sentiment increased as a result of China reopening its borders and rising expectations that the Federal Reserve may lower the rate at which it raises interest rates.After surging 1.5% on Friday, the sterling was back on the move on Monday, rising 0.42% to $1.2143. After finishing 1.17% higher on Friday, the euro […]
Caixin PMI: China’s December manufacturing activity continues to fall because of a rise in COVID
A private sector poll released on Tuesday revealed that China’s industry activity dropped at an even faster rate in December as rising COVID-19 infections disrupted output and weighed on consumption after Beijing largely eliminated anti-virus measures.The manufacturing Caixin/Markit purchasing managers’ index (PMI) decreased from 49.4 in November to 49.0 in December.For five consecutive months, the […]
U.S. alarmed by China’s hold of outdated chip technology
The largest chip manufacturer in China, SMIC (0981.HK), is increasing production of ten-year semiconductor technology that is essential to the supply chains of many industries, raising concerns in the US and driving some lawmakers to attempt to stop them. Dan Hutcheson, the chip economist at TechInsights, warned that if China unveils a trillion yuan ($144 […]
Chinese pension markets welcome JPMorgan, UBS and more
As the nation formally revealed a private pension system last week, Chinese subsidiaries of global asset managers JPMorgan (JPM.N), Warburg Pincus (WP.UL), and UBS (UBSG.S) are preparing to extend their retirement services.As it struggles with a steadily ageing population, China unveiled its first private pension programme on Friday in 36 cities, enabling people to create […]
Ant group sees fine from China over $1 bln, suggesting overhaul is almost done
Six sources with first-hand familiarity with the situation stated that Chinese authorities are prepared to punish Jack Ma’s Ant Group more than $1 billion, which would put a stop to the fintech business’s two-year regulatory makeover.Five of the sources identified the regulator preparing the fine as the People’s Bank of China (PBOC), which had been […]
COVID ignites a breakthrough in one-day work trips as airlines undergo rebranding
To accommodate a COVID-instigated trend in corporate travel for CEOs like Jerome Harris, airlines all over the world are rearranging schedules and adding additional flights. This trend involves doing away with single-day business trips in preference of longer stays. After a pandemic-inspired review of his travel patterns, Sydney-based Harris decided to stop making laborious one-day […]
China maintains its COVID strategy; U.S. stocks decline and the dollar rises
After Beijing stated it was considering loosening its zero COVID-19 policy, U.S. stock futures fell in Asia on Monday, helping the dollar regain some of its losses while hurting oil and commodities. However, over the weekend, health officials reaffirmed their dedication to the “dynamic-clearing” method to COVID instances as soon as they arise. Risk assets […]