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【U.S. Senate Passes the Bill that Could Ban TikTok】 (TMTPOST) -- TikTok users across the United States would soon find that the popular Chinese-owned short video sharing platform being controlled by a U.S. owner or banned, although it may take up to a year. On Tuesday night, the U.S Senate passed the bill that requires the social media platform’s parent company ByteDance to divest itself of the app under the pretext of national security concerns. The bill, bundled with a large foreign aid package for Ukraine, Israel and other U.S. allies, will be sent to the White House and U.S. President Joe Biden has promised to sign into law.
快报4月24日
【China Exports 298,000 Cars in February】 (AsianFin)—China's car exports have continued the robust growth from the end of last year. In the January-February period of 2024, the total automobile export volume jumped 22% year-on-year to 831,000 units and the car export value climbed 13% year-on-year to $15.7 billion, data released by the China Passenger Car Association ("CPCA") showed. According to the CPCA’s data, in February alone, China exported around 298,000 passenger vehicles (including complete vehicles and CKDs), marking an 18% year-on-year jump and a 17% month-on-month decline. NEVs accounted for 26.4% of the total PV exports in February, reflecting a 4.6-percentage-point decrease compared to the same period last year.
快报3月8日
【ByteDance Reveals Cases of Rule-Breaking and Suspected Crimes by Employees】 (AsianFin)—ByteDance's Corporate Discipline and Professional Ethics Committee has recently issued an internal document on numerous recent cases of violations investigated by the company, with the Life Services department having the highest number of cases. The violations mainly fall into five categories: suspected criminal activities, violations of integrity and anti-corruption systems, breaches of information security protocols, and violations of workplace respect policies. The timeframe for these violations spans from 2021 to 2023, and all implicated employees have been terminated.
快报3月8日
【Yi Gang Proposes Establishment of Real Estate Pre-Sale Fund Insurance Mechanism】 Yi Gang, Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference Economic Committee, on Thursday suggested the creation of a real estate pre-sale fund insurance mechanism. Proposed funding, estimated at around 10 billion yuan annually, would be extracted from the central government or the People's Bank of China, equivalent to 1% of the pre-sale regulatory funds balance. Real estate enterprises may utilize a portion of pre-sale regulatory account funds in accordance with their governance structures, potentially unlocking around 1 trillion yuan for immediate use.
快报3月7日
【75.52 Million Yuan Worth of Assets of Gome Seized】 According to Tianyancha, from Monday to Tuesday, six new cases of enforcement against Gome were added, totaling 75.52 million yuan. The cases involve disputes related to sales contracts, with executing courts located in various cities, including Urumqi, Beijing, and Guangzhou. Currently, there were over 190 cases of enforcement against Gome, totaling more than 4.4 billion yuan. Additionally, the company was slapped with restrictions on consumption, named as a dishonest debtor, and mired in a few law suits.
快报3月7日
【Toyota Takes Panasonic's Primearth EV Energy Stake】 BEIJING, March 5 (AsianFin)—Toyota Motor Corporation announced on Tuesday its decision to acquire a 19.5% stake held by Panasonic in battery joint venture Primearth EV Energy. This move will turn Primearth EV Energy into a wholly-owned subsidiary of Toyota, strengthening its capacity for large-scale production of automotive batteries. The acquisition is expected at the end of March.PEVE is envisioned to start working on creating batteries for battery electric (BEV) and plug-in hybrid electric vehicles (PHEVs).
快报3月5日
【TSMC Stock Price Hits 30-Year High Amid AI Wave】 BEIJING, March 5 (AsianFin)—The stock price of giant chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) reached NT$730 (US$ 23) on Tuesday, marking its highest point since 1994. The company's market value hit NT$18.93 trillion at market close on Tuesday, with a 23.10% cumulative surge in its stock price since the beginning of 2024. A significant factor driving the rise in TSMC's stock price is the artificial intelligence (AI) wave, with the company currently holding a large number of orders from Apple and NVIDIA. Recently disclosed data indicates that NVIDIA contributed 11% of TSMC's revenue in 2023.
快报3月5日
【Japan's Nikkei 225 Share Index Tops 40,000 For the First Time】 BEIJING, March 4 (TMTPOST)—Japan's Nikkei 225 share index on Monday closed at 40109, up 0.5%. It marks the first time for the index to surpass 40,000, lifted by buying of tech stocks. The index had gained 0.8% to 40,226.83 during the intraday trading. Shares in computer-chip related companies rallied, with Renesas Electronics jumping 5.8%, Advantest up 3.9%, and Olympus gaining 7.4%.
快报3月4日
【Phones in Over 20 Chinese Provinces Compatible With 5G-A Technology in 2024】 BEIJING, March 4 (AsianFin)— Chinese telecom operators have deployed 5.5G pilot networks in more than 20 provinces across the country, with a large number of individual users and some enterprise users expected to experience 5.5G services this year. "Many phones will support 5G-A technology this year. We are exploring the introduction of new artificial intelligence technologies such as real-time translation and digital humans during calls. In the future, the development of applications like AR and VR will provide users with a better experience," said Jin Wei, Head of the Beijing Operator Solutions Sales Department at Huawei.
快报3月4日
【Vanke Says Its Self-owned Funds Sufficient to Cover Maturing Overseas Debt】 BEIJING, March 4 (AsianFin) — China’s property developer Vanke on Monday denied that it had a cash crunch amid its share price tumble. "At present, the company has some funds overseas. Even without bank loans, it can cover this debt. We will consider the ratio of our own funds and bank loans used for repaying debts based on market changes and loan conditions," said Vanke regarding the maturity of a $630 million overseas bond on March 11. Both the A-share and H-share prices of Vanke experienced significant declines in Monday's trading. As of the press time, Vanke A-shares fell nearly 5%, and dropped over 7% in H-share market. According to market reports, there have been speculations that Vanke's senior management went to Beijing to discuss the extension of soon-to-mature non-standard debt with insurance companies. However, Xinhua Asset Management Co., Ltd. issued a public statement on Sunday, saying that the company has noted the unfounded information concerning its relationship with Vanke.
快报3月4日
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