China’s super wealthy couples are turning to divorce as a way to cash out stock and avoid tough sales restrictions. A slew of high-profile splits—nicknamed “sky-high divorces” because they are tied to high stock prices—have made the news recently, with massive quantities of stock changing hands in divorce settlements. Analysts say corporate shareholders are employing…
Chipmaker Micron Beats on Demand From Booming AI, Easing Glut
June 29, 2023
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Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
Chipmaker Micron Beats Demand Estimates
June 29, 2023
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Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
US Social Media ‘Influencers’ Under Fire Over Free Trip to Fast-Fashion Giant Shein’s China Factory
A group of American fashion influencers has come under fire for attending a fully paid trip to tour one of fast-fashion giant Shein’s factories based in Guangzhou, China. The influencers—Dani Carbonari, Destene Sudduth, Aujené, Fernanda Stephany Campuzano, Kenya Freeman, and Marina Saavedra—were flown out to China as part of a tour sponsored by Shein in June,…
Beijing and Shanghai Record Largest Decline in Second-Hand Home Prices
China released its May national housing price data on June 15. Beijing and Shanghai had the largest fall in second-hand home prices among 70 large and medium-sized cities. The price of second-hand homes in Shanghai fell by 0.8 percent compared with the previous month, the largest drop among cities surveyed, and Beijing fell by 0.6…
China Sees Exodus of Fund Managers
June 28, 2023
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Amid China’s economic downturn, several new equity funds have failed to attract investors, and fund managers have been resigning in droves since the start of June. Analysts attribute the equity fund trend to the poor performance of Chinese A-shares on the stock market, which has made stock selection and profitability challenging for fund managers. Contributing…
3 Factors Continue to Drive Foreign Investment out of China: Experts
June 26, 2023
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Foreign investments have continued to flee China as the country’s economy remains sluggish. Experts pointed out three major factors causing it. Since last December when Beijing abandoned the restrictive “Zero-COVID” policy, foreign investors were optimistic about the Chinese market. Foreign investment poured back into China in the first few months of this year, but this…
ANALYSIS: India Embraces Opportunity as Multinational Companies Shift Production out of China
June 26, 2023
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India, with the world’s largest population and a huge market, is benefiting from the global trend of “derisking” from China. Market research firm IMA India released its “2023 Global Operations Benchmarking Survey” in May, which surveyed 100 business leaders representing international B2B (business to business) companies in India. It showed that 88 percent of CEOs preferred…
Major Shareholders Reduce Holdings in Chinese AI Firm SenseTime
Chinese artificial intelligence company SenseTime is experiencing a continuous reduction in shareholding by its major shareholders. The company—hit by U.S. sanctions over Uyghur concerns—has accumulated losses of 43.83 billion yuan (about $6.14 billion) in the past five years. The company joins Megvii Technology, Yitu Technology, and Cloudwalk Technology as part of China’s four “AI dragons.”…
Sluggish Recovery Post COVID for Chinese Film Industry
June 23, 2023
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June was a big month for the Chinese movie industry, with the glitzy Shanghai International Film Festival proclaiming a rebound for the industry post-COVID. Meanwhile, Hong Kong’s Fresh Wave International Film Festival sounded a more sobering note as organizers not-so-subtly highlighted Chinese Communist Party (CCP) censorship. The two festivals provided a perspective on a movie…
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