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23.01.26 - 05:06
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China sets yuan at strongest rate in years as Greenland furore affects US dollar (SCMP)
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China's central bank has strengthened the yuan's daily fixing rate to break through the psychologically important level of 7 per US dollar for the first time since May 2023, as the American currency weakens amid concerns over recent US attempts to gain control of Greenland.
The People's Bank of China set the yuan's midpoint rate – also known as the daily fixing rate – at 6.9929 to the US dollar on Friday, after weeks of keeping the benchmark just on the weaker side of the 7 mark.
The move came......
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23.01.26 - 03:06
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Major foreign carmakers set to stage a comeback in China this year: analysts (SCMP)
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Major international marques, from Tesla to Volkswagen, continued to lose market share in mainland China, as consumers increasingly favoured new domestic electric vehicle (EV) models equipped with hi-tech features.
But in 2026, foreign carmakers are expected to stage a comeback when they launch models with innovative technologies, which are expected to attract buyers in spite of sluggish consumer demand, according to industry officials and analysts.
“Finally, foreign OEMs [original equipment......
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23.01.26 - 03:00
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Hong Kong stocks rise for third day on China easing hope and resilient US data (SCMP)
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Hong Kong stocks rose for a third day on Friday after China's central bank signalled more room for policy easing and strong US data reinforced a solid outlook for global equities.
The Hang Seng Index gained 0.7 per cent to 26,806.85 as of 9.41am local time. The Hang Seng Tech Index gained 0.6 per cent.
On the mainland, the CSI 300 Index slipped 0.1 per cent and the Shanghai Composite Index added 0.2 per cent.
Pop Mart International Group rallied 8 per cent to HK$222, and Alibaba Group Holding......
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23.01.26 - 01:36
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Revealed: global funds, from BlackRock to Temasek, back China′s largest biotech firms (SCMP)
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As Chinese biotech and pharmaceutical firms gain importance on the global stage, foreign investors from sovereign wealth funds to industry players are securing strategic stakes in their future success.
International institutional investors have built up significant positions in Chinese biotech firms over the past decade. These positions often approach, and in some cases exceed, the 5 per cent disclosure threshold for substantial shareholders in Hong Kong.
BlackRock, the world's largest asset......
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22.01.26 - 20:54
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US-China AI Race in Focus at Davos (Bloomberg)
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Tech leaders at the World Economic Forum in Davos have been giving their views on the US-China AI race. Liza Tobin, managing director at Garnaut Global, says the US advantage lies in the scale of its compute capacity. Tobin joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)...
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