A nationwide pilot program to trade green power has been introduced in China in an attempt to increase renewable energy consumption, reports Caixin. The program, which permits electricity generators to sell green power directly to end-users, is a step towards reaching the country’s lofty carbon emissions targets. Under the program, a total of 259 market […]
Category: Markets
US investment firm, BlackRock, has raised RMB 6.7 billion ($1 billion) for its first mutual fund in China. The world’s largest asset manager is pushing forward with its expansion into the country’s lucrative savings market, despite worries over the political climate, reports the Financial Times. BlackRock, which became the first global group to gain approval […]
China’s exports expanded at a faster rate than expected in August, brushing aside the impact of a global resurgence of the Covid-19 pandemic, port congestion and supply bottlenecks, reports The Wall Street Journal. According to the General Administration of Customs, China’s outbound shipments rose 25.6% in August from a year earlier, higher than the 19.3% […]
Investors are pouring money into emerging market funds that exclude China after Beijing’s continued crackdown on targeted stocks and sectors, reports the Financial Times. Five prominent EM ex-China exchange traded funds (ETFs) increased by 41% in August to $1.5 billion, bringing their year-to-date growth to 442%, having ended 2020 with $277 million cumulatively. The jump […]
The CEO of Swedish telecoms company Ericsson has vowed that the company will double down on attempts to regain Chinese market share lost after the Swedish government blocked Chinese suppliers from its 5G roll-out, a move that antagonized Beijing and has impacted the equipment maker’s business in China, reports Reuters. China accounted for about 10% […]