Key Highlights from Yesterday's Trading Session (9/5) :
1. China's Exports to ASEAN Surpass US and EU
China's exports to the Association of Southeast Asian Nations (ASEAN) have reached $600 billion annually, outpacing its exports to the US and EU. The trade growth is attributed to the Regional Comprehensive Economic Partnership (RCEP), which includes Australia and New Zealand. This highlights ASEAN's dependence on China and the challenges Western allies face in countering China's influence.
2. China Establishes $41 Billion Chip Industry Fund
China is launching a fund worth RMB 300 billion ($41 billion) to support its chip industry, focusing on chip manufacturing equipment. This move follows efforts to restrict China's access to advanced chip technology. The fund aims to strengthen China's semiconductor capabilities, although access to advanced equipment remains a limiting factor.
3. Stock Connect Program Adds 22 Companies
The Stock Connect program expands mainland Chinese investor access to Hong Kong-listed companies. Previously, major companies like $BABA-SW(09988.HK$ and $JD-SW(09618.HK$ were inaccessible to mainland investors. Notable additions include $SHANGRI-LA ASIA(00069.HK$ , $CAFE DE CORAL H(00341.HK$, and $SUNAC(01918.HK$, which jumped 25%, signaling optimism about Beijing's real estate market support.
4. Trip.com Exceeds Q2 Earnings Expectations
$Trip.com(TCOM.US$ reports Q2 revenues of $1.55 billion, a 172% YoY growth, beating earnings estimates. Domestic hotel bookings exceeded pre-pandemic levels by 60%, while outbound travel is still recovering. Air ticket bookings have doubled compared to Q2 2019, indicating strong demand for domestic air travel in China.
5. China's Growth Outlook Until 2050
A Bloomberg report suggests China's economic growth will slow to 0.9% by 2050 from an estimated 5.4% this year. It cites various factors, including a post-COVID rebound, a property downturn, and weak confidence. Despite this, China leads in GDP by purchasing power parity (PPP) and possesses tools for economic stimulation. The US is expected to maintain its position as the world's largest economy.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
llkk Kum : you didnt post link to validate your statement.
迎接虎年 : China's imports and exports are still declining in August, so we can only look for highlights that can be shown