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03.03.26 - 17:37
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China calls for vessels in strait of Hormuz to be protected amid soaring shipping costs (The Guardian)
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Beijing's foreign ministry urges 'all parties' to avoid escalation as spot rate for tankers reaches $424,000 a dayHow escalating Iran conflict is driving up oil and gas prices – a visual guideBusiness live – latest updatesThe Chinese government has called for vessels passing through the strait of Hormuz to be protected by all sides in the escalating Iran conflict, as shipping freight rates soared.Maritime traffic through the strait – a narrow channel on Iran's southern border that connects the Persian Gulf with the Gulf of Oman – has effectively been closed since the US and Israel launched missile attacks on Iran at the weekend, prompting a retaliation from Tehran. Continue reading......
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03.03.26 - 15:06
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China Panics, Urges Ceasefire To Reopen Strait Of Hormuz As Beijing Is Addicted To Cheap Iranian Crude (ZeroHedge)
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China Panics, Urges Ceasefire To Reopen Strait Of Hormuz As Beijing Is Addicted To Cheap Iranian Crude
Chinese Foreign Ministry spokeswoman Mao Ning said at Tuesday's regular press briefing in Beijing that all parties in the Iran conflict must ensure the safe transit of commercial shipping through the critical maritime energy chokepoint of the Strait of Hormuz.
"China urges all parties to immediately cease military operations, avoid escalating tensions, and safeguard the safety of navigation in the Strait of Hormuz," spokeswoman Ning said.
We've briefed readers that China is heavily exposed to cheap Iranian crude exports. About 80% of Iran's oil exports - about 1.6 million barrels per day - go to China.
While prices are fungible, the biggest loser from a Hormuz closure in terms of actual physical oil is China which is the main destination of the 13.1mm barrels of oil that passes through the Strait every day https://t.co/FwWVsHiwpZ pic.twitter.com/ozXwXpo2El
— zerohedge (@zerohed...
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03.03.26 - 14:01
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China′s AI red-packet battle burns through US$1 billion – but will users stick around? (SCMP)
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In an unprecedented Chinese New Year marketing blitz, Alibaba Group Holding, Baidu, ByteDance and Tencent Holdings spent an estimated 8 billion yuan (US$1.1 billion) to turn their artificial intelligence assistants into household names, according to Morgan Stanley.
Now the dust is settling.
A week after the holiday ended, early data offers a first glimpse into how China's AI landscape is evolving and which players gained lasting traction from the spending spree.
Morgan Stanley said all platforms......
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03.03.26 - 13:36
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Chinese AI drug researcher XtalPi expects to turn first annual profit on 193% revenue jump (SCMP)
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Chinese artificial intelligence-powered drug researcher XtalPi Holdings said it expects to turn its first annual profit on the back of strong revenue growth, according to a corporate filing.
The Shenzhen-based company projected a swing to a net profit of at least 100 million yuan (US$14.5 million) in 2025 from a net loss of around 1.5 billion yuan in 2024, notching its first full-year profit, according to a filing with the Hong Kong stock exchange on Tuesday.
XtalPi attributed the earnings boost......
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03.03.26 - 12:01
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Will Apple′s budget-priced iPhone 17e make a splash in China′s tough smartphone market? (SCMP)
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The iPhone 17e, the entry-level addition to Apple's latest iPhone 17 series, faces an uphill battle in China's highly competitive smartphone market, according to analysts, as presales for the new handset start on Wednesday.
The new budget-priced iPhone “lacks competitiveness”, said IDC China research manager Guo Tianxiang, who pointed out that the handset “still uses outdated moulds, with the chip being the only major upgrade”.
“The shortcomings in imaging and display persist, making its overall......
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03.03.26 - 11:31
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HSBC chairman floats ′IPO connect′ for Hong Kong, Shenzhen ahead of China′s ′two sessions′ (SCMP)
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Beijing should create a “connect” scheme for initial public offerings (IPOs) in the Greater Bay Area to allow mainland and Hong Kong investors to buy into new listings across the border, HSBC chairman Peter Wong Tung-shun said on the eve of China's annual “two sessions” meetings.
“If investors in both Shenzhen and Hong Kong are further allowed to participate simultaneously in IPOs in both markets – achieving a more comprehensive IPO connect mechanism for the Greater Bay Area – it would help......
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