Some mixed messages amongst the tea leaves this week. The latest Chinese trade data is good, with exports showing double-digit growth. The background to that is the fundamentally solid state of the global economy, particularly the United States. That has good implications in terms of GDP growth prospects for Q2. A raft of tech IPOs […]
Category: Consumer
The US and China have finalized a deal lifting sanctions on ZTE doing business with American companies in return for a $1 billion fine and special regulatory measures to be carried out on the firm. ZTE, which ceased its core business operations shortly after the US government banned it from using its suppliers, will have […]
British chip maker Arm Holdings – a unit of SoftBank Group Corp. – will sell a 51% stake in its China operations to a consortium of Chinese investors, helping the country move closer to its goal of technology independence. The stake will go for $775 million to the investor group led by China Investment Corp-backed […]
Smartphone giant Xiaomi plans to make a dual listing in mainland China alongside its landmark $10 billion IPO later this year, sources told Reuters, helping the firm meet its targeted $70 billion valuation. According to the sources, Xiaomi intends for about 30% of new funds raised to come from issuing the newly-available Chinese Depositary Receipts […]
Caixin’s monthly services PMI report points to stable growth in China’s services industry in May, with inflation easing and business sentiment reaching a one-year high. The index remained unchanged from April’s reading of 52.3, where 50 marks neither expansionary nor contractionary behaviour in the sector. The survey’s respondents reported strong client demand and a reduction […]