China Tag

11 Apr China’s young ultra-rich seen reshaping wealth management, art collection and luxury spending: HSBC summit speakers

Posted at 05:56h in Asia

China’s young, tech-savvy, ultra-rich cohort is shaping the wealth management and luxury spending industries, including art collecting, according to experts at a conference in Hong Kong.“The asset management landscape in Asia is undergoing significant transformations due to changing demographics and digitisation,” said Chen Ding, the...

Read More

11 Apr Beware what you wish for: calls for China to loosen grip on the yuan may rock emerging and developed markets alike, strategists say

Posted at 05:45h in Asia

China watchers calling for Beijing to loosen its grip on the besieged yuan need to be mindful of the risk that it unleashes a chain reaction rocking emerging- and developed-market currencies alike, according to some strategists.Most under threat are the currencies of Asian neighbours such...

Read More

11 Apr Climate change: China drives increase in global coal-fired power capacity amid building boom, slow retirement, study says

Posted at 00:00h in Asia

China drove a global surge in new coal-fired power plants last year, building and approving capacity at a rate not seen in nine years despite the country’s promise to “strictly control” its use of the most damaging fossil fuel, according to a new report.China accounted...

Read More

10 Apr TSMC’s sales surge most since 2022 after riding AI chip boom

Posted at 12:43h in Asia

Taiwan Semiconductor Manufacturing Co’s quarterly revenue grew at its fastest pace in more than a year, shoring up expectations that a global boom in artificial intelligence (AI) development is fuelling demand for high-end chips and servers.The main chip maker to Nvidia and Apple reported a...

Read More

10 Apr China scraps ownership caps on some telecoms services, courting foreign capital resurgence

Posted at 12:00h in Asia

China has designated areas where limits on foreign investment for select telecommunications services will be lifted, with the cities of Beijing, Shanghai, Shenzhen and the island province of Hainan acting as testing grounds for an oft-cited goal to open the bedrock industry to overseas capital.These...

Read More

10 Apr HSBC to host next investment summit in early 2025 after resounding success of ‘Hong Kong is back’ pitch

Posted at 11:33h in Asia

HSBC plans to host another global investment summit within the first four months of 2025 in the city, after this year’s sell-out inaugural conference drew 3,500 attendees, an overwhelming success that CEO Noel Quinn said was proof that “Hong Kong is back”.The bank hosted more...

Read More

10 Apr China added 1 unicorn per week last year despite slumping global investments thanks partly to AI frenzy, report says

Posted at 10:30h in Asia

China last year bred an average of one new unicorn each week amid frenzied growth in the country’s artificial intelligence (AI) sector, bucking a declining trend in global venture capital investments, according to a new research report.The nation added 56 unicorns – start-ups valued at...

Read More

10 Apr EU investigation into Chinese wind turbine exporters could lead to higher costs, slow down clean energy projects in bloc, analysts say

Posted at 10:20h in Asia

An anti-subsidies investigation into Chinese wind turbine manufacturers by the European Union (EU) could saddle the bloc’s renewable project developers with high costs and slow down their decarbonisation efforts, while the impact on Chinese firms could be limited, analysts said.“Since the basis of the complaint...

Read More

10 Apr China creating ‘unfair competition’ for foreign players, German firms say in survey

Posted at 09:01h in Asia

German businesses in China have reiterated their calls for a level playing field, with two-thirds of those surveyed seeing themselves in “unfair competition” when operating there – findings which add to pressures on Beijing from foreign investors over persistent struggles related to market access and...

Read More

10 Apr Microsoft’s Blizzard resumes NetEase partnership, bringing World of Warcraft back to Chinese players after bitter break-up

Posted at 05:10h in Asia

Blizzard Entertainment, the video game giant behind World of Warcraft, is resuming its partnership with NetEase under its new owner Microsoft, marking a revival of the most enduring US-China video game partnership that had an acrimonious break-up over a year ago.Confirming an earlier South China...

Read More