Asia

25 Feb China to widen access to US$232 trillion repo market in transformative, signalling impact on interest rates, analysts say

Posted at 22:30h in Asia

Turnover in China’s interbank repo market, dominated by pledged repos, has soared over the past decade. These contracts surged 21 per cent to 1,668 trillion yuan (US$231.8 trillion) in 2023, according to central bank data. Overnight repo made up 88 per cent of the volume...

25 Feb Opinion | Why chipmakers’ stock surge is no guarantee of AI revolution’s future

Posted at 12:15h in Asia

Some of the controversies are easier to manage. The machine learning driven by generative AI has already shown its value in speedy and reliable early indication of diseases, for example. We are at the earliest stages of discovering how these new technologies can enhance productivity...

25 Feb China’s lithium-ion battery industry faces excess inventory, production capacity as EV market downshifts: industry analysts

Posted at 06:30h in Asia

China’s electric vehicle (EV) battery market is expected to see continuous destocking of inventory this year as demand for EVs cools and companies along the lithium-ion battery supply chain suffer losses amid a price war stemming from excess capacity, analysts said.Some small manufacturers could be...

25 Feb Zong Qinghou, billionaire founder of Chinese drinks giant Wahaha Group, dies at 79

Posted at 05:33h in Asia

Zong Qinghou, the founder of China’s drinks giant Hangzhou Wahaha Group that bought out its French partner Danone to dominate the local market, has died, according to a company statement. He was 79.The billionaire passed away at 10.30am local time on February 25, the company...

25 Feb China’s solar panel makers to enjoy brighter outlook as plant shutdowns, scrapped expansions ease overcapacity crisis

Posted at 03:43h in Asia

China’s solar photovoltaic (PV) industry’s protracted battle with overcapacity may be drawing to a close, after years of bruising price wars and rapid capacity build-up plunged half the sector into the red, forcing closures and disrupting expansion plans, analysts say.Several solar panel producers have delayed...

25 Feb Chinese investors struggle to hold on to property abroad as soaring rates, weak domestic economy make mortgages unaffordable

Posted at 02:00h in Asia

These dynamics seem to be playing out for a number of Chinese home owners in Australia, where the central bank has hiked interest rates on 13 occasions since 2022. 10:45Chinese investors offloading overseas properties Chinese investors offloading overseas properties In the popular Sydney suburb of Bondi,...

25 Feb Meituan, Didi Chuxing in the spotlight as China stresses rights of delivery, ride-hailing gig workers

Posted at 01:00h in Asia

The Chinese government is ordering online platforms to better protect the rights of the country’s 200 million gig workers, including ride-hailing and food delivery drivers employed by the likes of Meituan and Didi Chuxing.The Ministry of Human Resources and Social Security (MHRSS) released three new...

24 Feb From Chelsea FC to Bayern Munich, global brands eye post-Covid recovery in China’s sports market

Posted at 13:30h in Asia

Major international sports brands are setting their sights on the Greater Bay Area as a gateway to the Chinese market, where demand from fans and consumers is heating up after a Covid-related lull, according to executives in the industry.Getting closer to or establishing a presence...

24 Feb China’s February box office surpasses US$1.4 billion as local productions win over domestic audience during Lunar New Year

Posted at 10:31h in Asia

China’s box office has racked up more than 10 billion yuan (US$1.4 billion) in revenue in February, buoyed by film-goers flocking to the cinemas during the eight-day Spring Festival holiday, according to the latest surveys.Theatres sold 8 billion yuan in tickets from February 10 to...

24 Feb Opinion | Fugitive thief of global debt is now a potential killer

Posted at 07:45h in Asia

The Institute of International Finance (IIF) reported in its latest Global Debt Monitor on February 21 that over US$15 trillion was added to the global debt mountain last year, and the total is now a record US$313 trillion. But it is not so much facts...