China audit deal provides relief, but there are limited incentives to invest
Investors applaud a groundbreaking agreement that grants U.S. regulators access to the financial records of Chinese companies, but they caution that before much more capital can be expected to flow to China, markets must first witness successful inspections and an improvement in the country’s economy. The agreement, which was announced on Friday, at least in […]
Ping An approves HSBC restructuring proposal; although not an activist investor
China’s Ping An Insurance Group stated that it supported calls for HSBC (HSBA.L) to be restructured, which may involve a spinoff of its Asia division, and that it was not an activist investor but worried about investment yields from its sizeable holding in the bank. When questioned about the motivations behind the insurer, which sources […]
China’s consumer rates hike as factory inflation slumps at 17-month decline
Although slower domestic building impacted on raw material needs, China’s factory-gate inflation dipped to a 17-month trough in July, bucking global pricing pressures. However, consumer price increases touched a two-year peak as pork supplies constricted. The National Bureau of Statistics (NBS) reported on Wednesday that the producer pricing index (PPI) increased 4.2% year over year […]
Biden signs legislation to improve U.S. chips, to rival with China
Tuesday saw the historic signing by President Joe Biden of a measure providing $52.7 billion in subsidies for American semiconductor research and production as well as stepping up initiatives to make the U.S. more comparable with China’s scientific and technology initiatives. The future will be created in America, according to Biden, who described the initiative as […]
China’s regulatory body rejects data report to evade U.S. delistings
China’s securities regulator refuted claims made in the media on Monday that Beijing intended to group Chinese companies with U.S. listings according to how sensitive the data they store is, as an effort to prevent American authorities from delisting hundreds of companies. The Financial Times reported Saturday, citing people with an understanding of the incident, that the […]
Blockbuster 2021 reels in Global investment banking for the recovery year
The pandemic was devastating to major economies, there is no mistaking that. Markets saw it strike first-hand as the stock prices plummeted devastatingly low and the revenue at global investment banks was more slow than gradual, all routes clogged due to the gravity of the situation. Apart from that event spanning through countless economic shattering, […]
Semiconductor base in China, by Merck
Merck KGaA have signed a contract to open a semiconductor base in the Chinese city of Zhangjiagang. This is their largest single electronics business investment in the country. The new 69-acre base will house production plants for thin film materials and electronic specialty gasses, warehouses, and operation centers.Merck China President Allan Gabor stated that China […]
Xiaomi accuses Indian agency of physical violence threats
Chinese smartphone maker Xiaomi Corp has alleged its top executives faced threats of physical violence and coercion during questioning by India’s financial crime fighting agency. Officials from the Enforcement Directorate warned the company’s former India managing director, Manu Kumar Jain, current Chief Financial Officer Sameer B.S. Rao, and their families if they did not submit statements […]
China uses AI software
Dozens of Chinese firms have built software that uses artificial intelligence to sort data collected on residents. This is amid high demand from authorities seeking to upgrade their surveillance tools. According to more than 50 publicly available documents examined, dozens of entities in China have over the past four years bought such software, known as […]
China, US working hard on solution to audit dispute
Chinese regulators and their U.S. counterparts are working hard to solve an audit dispute affecting U.S.-listed Chinese firms. They want to achieve effective and sustainable cooperation as soon as possible. The official China Securities Journal reported that the China Securities Regulatory Commission (CSRC) heard opinions from some U.S.-listed Chinese companies during an online meeting. They […]