The average annual rate of return on Chinese insurers’ investments last year tumbled to the lowest in 15 years, although it exceeded 2022’s rate if unrealized gains were counted, official data showed, reports Caixin. Insurance firms’ investments yielded 2.23% in 2023, down 1.53 percentage points from the previous year, data released last week by the […]
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China’s benchmark Shanghai Composite Index gained for an eighth straight session Friday to surpass the psychologically important 3,000 mark, after a round of state-backed efforts to shore up stock prices, reports Nikkei Asia. The index ended up 0.55% at 3,004. The last time it saw eight straight days of gains was between June and July […]
Luckin Coffee Inc. became China’s dominant coffee chain last year, outpacing the nation’s previous leader Starbucks Corp. in annual sales for the first time, reports Caixin. The Xiamen-based company posted quarterly net revenue of RMB 7.06 billion ($980 million), representing an increase of 91% from a year ago in a growing and increasingly competitive China market. Net […]
China and India have signed agreements to restructure their holdings of Zambian debt, the bankrupt southern African nation’s president has said, raising hopes that a delayed effort to exit a long-running default is back on track, reports the Financial Times. Hakainde Hichilema said Zambia planned to resume talks with private creditors to resolve a “terrible […]
China’s top maker of laser cinema projectors is turning its beams on electric vehicles, as cut-throat competition among domestic carmakers creates demand for advanced displays and new kinds of in-car entertainment to make their models stand out, reports the Financial Times. Appotronics—laser display tech provider to more than 30% of China’s cinemas and with a 70-80% share […]