China

China’s Religious Crisis and the Battle for Moral Domination
Asia, China

China’s Religious Crisis and the Battle for Moral Domination

China’s policies toward religion have changed radically during the Xi era. The state has sought to Sinicize religious practices and bring them under tighter bureaucratic control, while stricter regulations have curtailed public discussion of faith and spirituality on the Internet and social media. Nonetheless, more Chinese than ever are turning to spiritual pursuits in search of comfort and relief from the stress and unpredictability of life in China at a time of economic uncertainty, social disruption, and eroding trust in the Party-state and its secular materialist ideology. Internal migration and rapid urbanization have weakened community life and family ties, creating a sense of social isolation. A highly competitive education system, bleak employment prospects, and the pressures o...
According to reports, ByteDance, a Chinese computer titan, increased its worth to $300 billion.
China, Market, World

According to reports, ByteDance, a Chinese computer titan, increased its worth to $300 billion.

TikTok owner ByteDance now values itself at around $300 billion, among the highest valuations for a Chinese tech company. The company’s valuation came in a recent share buyback at about $180 a share, The Wall Street Journal reported, and indicates that it expects its business to grow even as its app TikTok faces a potential ban in the US. Both TikTok executives and experts in Washington believe President-elect Donald Trump could reverse the law, which goes into effect the day before he is inaugurated, and his election “significantly improves the picture for TikTok,” the National Security Agency general counsel told Bloomberg. ByteDance also owns various other businesses, including a Chinese version of TikTok called Douyin.
Morgan Stanley and Goldman Sachs reduce China’s prospects for economic development.
Asia, China, Market

Morgan Stanley and Goldman Sachs reduce China’s prospects for economic development.

Hong Kong stocks are cheap but may miss out on the benefits of China's economic support, analysts at Goldman Sachs said, while Morgan Stanley warned tensions and tariffs could hurt, as both brokerages downgraded market forecasts.  Goldman Sachs trimmed its recommendation on Hong Kong shares to "underweight" from "market weight".  Morgan Stanley downgraded China to slight "underweight" from "equal weight" in emerging markets, with analysts noting that efforts to revive the economy and a Republican sweep of Congress and the White House could significantly impact markets. "We expect even stronger headwinds on corporate earnings and market valuation in the coming months," Morgan Stanley analysts said in a note dated Nov. 17.  Morgan Stanley's base-case target for Ch...
Ahead of more US technology and trade restrictions, China targets vital metal exports.
Asia, China, Market, USA, World

Ahead of more US technology and trade restrictions, China targets vital metal exports.

Beijing will expand export controls on critical minerals like tungsten, graphite, and magnesium needed to make electronics, a move analysts say is in anticipation of expected sweeping US tariffs on Chinese goods and increased curbs on advanced semiconductor chips and AI technology to China following the re-election of US President Donald Trump. The restrictions also apply to specific technologies that can be used for both civilian and military purposes. China controls more than 80% of the world’s supply of tungsten and about 90% of global magnesium production, according to one official estimate; the minerals are indispensable in building defense technology, weapons, aviation equipment, and spacecraft. Washington has pushed to delink the supply chain from China ...
<strong>Slowing Chinese Economy Triggers Foreign Investment Pullout</strong>
China

Slowing Chinese Economy Triggers Foreign Investment Pullout

As China's economy shows signs of slowing down, a growing number of foreign companies are reconsidering their investments. Concerns over weakening growth, regulatory unpredictability, and geopolitical tensions are prompting these companies to pull out their funds. The once-booming market now faces challenges such as reduced consumer spending and supply chain disruptions. As a result, businesses are redirecting their investments to more stable and promising markets, seeking to mitigate risks and sustain profitability amidst China's economic uncertainties. This shift underscores the broader impact of China’s economic deceleration on global business strategies. Last quarter, foreign companies pulled more money out of China, indicating ongoing skepticism about the country's economic pr...
Why is COP29 all about money, and what is it?
Asia, China, Market, World

Why is COP29 all about money, and what is it?

Each year, world leaders and negotiators gather at the United Nation’s climate summits to address the escalating climate crisis. But this year's COP29 in Baku feels different.  Dubbed the "Finance COP", its focus is on funding initiatives to curb the flailing increase in global warming temperatures. This COP also marks the last major talks before countries submit updated emission reduction targets in 2025. With the world far off track to limit warming to 1.5 degrees Celsius, the pressure is on. This year's discussions centre on a new financial target to be set before early 2025. For developing countries, especially in the Asia-Pacific region, this isn't just about numbers — it's about survival. What is COP29 and why is it ...
Malaysia and other Asian economies prepare for the effects of the Trump trade war as tariffs present both opportunities and risks.
Asia, China, Market, Singapore, USA, World

Malaysia and other Asian economies prepare for the effects of the Trump trade war as tariffs present both opportunities and risks.

Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of factory relocations to the rest of the region. But a trade war between the world’s biggest economies would also destabilise markets everywhere, with Asia — which contributes the largest share of global growth — the most affected. Trump, who won a crushing presidential victory this week, vowed during his campaign to slap 60 per cent tariffs on all Chinese goods entering the United States in an attempt to balance trade between the two nations. Analysts however question whether the new president will stick to such a high figure, and dispute the blow such tariffs could inflect on the Chinese economy, estimating GDP could be lowered b...
Asian Financial Institutions Are at Risk Due to AI Adoption Lag in the Face of Increasing Financial Crime
Asia, China, Market, Singapore, USA, World

Asian Financial Institutions Are at Risk Due to AI Adoption Lag in the Face of Increasing Financial Crime

AI-based transaction monitoring, sanctions screening, and fraud prevention deliver proven benefits as adoption gains traction New research from SymphonyAI and Regulation Asia reveals legacy systems, data quality, model explainability, data privacy, and regulatory uncertainty hinder AI adoption in financial crime compliance. Only 15% of Asian FIs report "advanced" AI integration in their compliance functions, leaving significant untapped potential. Financial crime, particularly money laundering, represents an escalating threat, accounting for up to 6.7% of global GDP. Palo Alto, Calif., (ANTARA/PRNewswire)- SymphonyAI, a leader in predictive and generative artificial intelligence (GenAI) SaaS products for the enterprise, today launched a new report with Regulation Asia, revea...
Asia, China, Market

Asia Economic Monthly: Exposure to China in Asia

Australia and Singapore are the most exposed to China growth due to strong economic linkages via the commodity and trade channels, respectively. The Philippines and India are the least exposed due to weak trade and investment linkages with China. The spillover from China to the rest of Asia has weakened over the last decade due to the fall in Asia’s export share to China. China’s policy blitz China’s recent stimulus blitz is the latest addition to the various uncertainties weighing on Asia’s economic outlook. Since September 24, the nation has announced monetary policy easing, liquidity support for equity markets, government pledges to arrest the property market decline, and reports of fiscal support in the pipeline. Nomura’s China economics team has lifted its Q4 2024 GDP fo...
Asia, China, Market

The October manufacturing PMI for China resumed its upward trajectory.

China's manufacturing PMI surprisingly returned to expansion China's PMI beat expectations with an uptick to 50.1 in October, which marked the first expansion since April, and marked a six-month high. The 50.1 level is the smallest possible expansion for the PMI but nonetheless bucks expectations for continued contraction, and is a positive sign that the small bounce back of industrial production that we saw in September could continue.  Looking at the subindices, there are some signs that the domestic situation could be seeing a gradual improvement. The production subindex hit a six-month high of 52.0, and new orders also returned to a neutral state of 50.0 after contracting the previous five months. While still in contraction, employment (48.4 up from 48.2...