Sportswear brand Puma is preparing for a massive shift of its production operations away from China to other Asian countries, in anticipation of tariffs from the US on Chinese-made imports. Puma’s CEO Bjorn Gulden said on Tuesday morning “our sourcing people have been working on alternatives [to Chinese-based production] for the last two months”, but […]
Category: Brief
China’s aluminum industry had a shaky start to the year, with state enterprise Aluminium Corp of China, or Chalco, posting first-quarter net profits down 19.4% year-on-year on the back of sinking aluminium prices. Chalco’s net profits came in at RMB308.6 million ($48.94 million) up to the end of March, Reuters reports, down from RMB382.9 million […]
The UAE’s international financial centre has confirmed the first steps of a deal with the Shanghai Stock Exchange that will boost bilateral trade between the two regions, Reuters reports. Officials from the Abu Dhabi Global Market (ADGM) and the Shanghai Stock Exchange signed a memorandum of understanding to begin the deal. Richard Teng, head of […]
Chinese mainland investors will now have full access to financial research reports and advisory services of Hong Kong-registered brokerage firms, Caixin Global reports, furthering integration between the two financial systems. Hong Kong branches of mainland companies will be able to sell their reports back across the border, as will research firms and asset managers that […]
Investors are getting anxious regarding Chinese tech stocks following the announcement of a US ban on ZTE and slowing smartphone sales, with big firms such as Lenovo faring poorly on the markets, Bloomberg reports. The MSCI China technology index was down 0.8% yesterday afternoon local time. Lenovo fell 1.1% – it’s lowest in 9 years, […]