This past Monday (October 24), the Hong Kong China 50 Index, which includes the top 50 Chinese companies listed in Hong Kong, Shanghai, and Shenzhen, dropped nearly 6% on heavy volume. Stocks with significant foreign holdings were hit particularly hard, with Alibaba, Tencent and Meituan each tumbling more than 10%. Overseas investors sold a record […]Continue Reading
BEIJING: Chinese cities from Wuhan in central China to Xining in the northwest are doubling down on COVID-19 curbs, sealing up buildings, locking down districts and throwing millions into distress in a scramble to halt widening outbreaks. China on Thursday (Oct 27) reported a third straight day of more thanContinue Reading
Artisans, architects and urban planners are incorporating environmental urgency into their creations as they work to design a sustainable future for the region.
The post Southeast Asia’s interiors and infrastructure are built on sustainable design appeared first on Southeast Asia Globe.
Chinese leader Xi Jinping’s recent speech to the Communist Party Congress could be one of the most consequential of the decade. He told the audience – and the world – that his economic growth-crushing “zero-Covid” policy is here to stay, and that Beijing is more determined than ever to reunify with Taiwan, peacefully if possible […]Continue Reading
Overseas investors sold a record US$2.5 billion worth of mainland China shares on Monday, according to Bloomberg data. This pushes the year-to-date level into a “net outflow.” It comes as foreign investors fled after the twice-per-decade Communist Party congress at which Chinese President Xi Jinping appeared to cement a power grab with an unprecedented third […]Continue Reading
The kind way to describe the yuan weakening decisively past 7.3 to the dollar is that China’s currency is reflecting the widening cracks in Asia’s biggest economy.
That the move came a day after President Xi Jinping achieved his longtime goal of remaking the Communist Party in his own image raises more difficult questions.
Worse, Hong Kong stocks had their worst day since the 2008 global financial crisis as the yuan hit 14-year lows. Shares in e-commerce giant Alibaba Group, food delivery behemoth Meituan and social media and gaming colossus Tencent all had a very rough Monday in the wake of China’s Communist Party Congress.
Some global investors are worried about Xi’s concentration of power and the stacking of his leadership ranks with loyalists, an arrangement that many view as one-man rule. Others worry about signals that the growth-killing “zero-Covid” strategy isn’t going anywhere.
Yet one thing is certain: the most powerful Chinese leader since Mao Zedong is on the clock with markets as never before. And the months ahead will attract intense scrutiny from CEOs who call the shots on global capital flows.
China’s government will implement a series of measures to attract foreign companies to invest in high-end manufacturing in mainland China, a counter to US-led efforts to persuade firms and allied nations to “decouple” from China and its supply chains. The National Development and Reform Commission (NDRC), the Ministry of Commerce, the Ministry of Industry and […]Continue Reading
The empire has struck back with a vengeance, as Anglo-Indian Rishi Sunak takes the United Kingdom’s national helm as its first-ever non-Caucasian prime minister. In a country that has had a sometimes vexed relationship with multi-culturalism, it speaks much of the millennial UK’s embrace of its ethnic minorities that Sunak has become prime minister. It […]Continue Reading
It is a huge relief. For the first time in many years, Britain’s ruling Conservative Party has made a sane, even boring choice as its new leader. The selection of Rishi Sunak gives the country its first prime minister of Indian ethnic origin, its youngest ever prime minister (at 42, pipping David Cameron, who when […]Continue Reading
Sophie Qian will relocate from New York to Singapore later this year.Continue Reading