China chen

SHANGHAI/HONG KONG: Investors in China are betting on a bumpy ride until the end of the US presidential election and seeking to protect their assets from a long chill in Sino-US ties. Global equity fund managers are shifting out of New York-listed shares in Chinese firms and into Hong Kong-listed vehicles to counter the risk of forced delistings, as both Democrat Joe Biden and Republican President Donald Trump promise a hard line on Beijing. And currency investors are fretting that a yuan hovering near 16-month highs is priced for a Biden win, and a calmer tone in diplomacy, which could swiftly unwind if Trump is victorious. Their bets are focused less on the outcome and more on what most expect to be a rollercoaster period until at least polling day on Nov 3. "It doesn't matter if Biden or Trump will be elected. The bipartisan consensus is to be tough on China," said Chen Jiabeng, fund manager of Xiamen Portfolio Management, which helps investors allocate assets through … [Read more...] about China investors bet on volatility as US presidential election heats up

Video Player Close HEFEI, Feb. 28 (Xinhua) -- Holding a picture taken 53 years ago, Chen Xinge live streamed the tale of her 92-year-old grandfather on the video-sharing app Douyin, which is known as TikTok overseas. It was a black-and-white photo taken in the Great Hall of the People, featuring a group of young, passionate soldiers around China's late chairman Mao Zedong and premier Zhou Enlai. "It's one of the proudest moments for my grandfather who joined the army at the age of 19 and the Communist Party of China (CPC) at 22," said 28-year-old Chen from Huoshan County, Lu'an City, east China's Anhui Province. Chen is among a group of young people participating in an online campaign to display old artifacts of the CPC on Douyin, which has attracted over 137,000 viewers. This year marks the centenary of the CPC. Founded in 1921, it has grown into the largest political party in the world with over 91 million members. The trendsetting Chinese youth, however, have broken … [Read more...] about Across China: Young people innovate narration of Party history

BEIJING: The chairman of cash-strapped HNA Group has been barred from taking flights and high-speed trains and going on vacations due to the Chinese conglomerate's failure to pay a court-ordered US$5,300 in a lawsuit, a court document showed. The once high-flying company, which owns Hainan Airlines , is in the midst of a restructuring led by the Hainan government to resolve its liquidity risks stemming from years of aggressive acquisitions abroad. The group and its affiliates have delayed payments on a few bond products this year. HNA chairman and legal representative Chen Feng has also been barred from spending at star-rated hotels, nightclubs and golf clubs, and buying properties and high-premium insurance products, an order from the People's Court in Xi'an city's Beilin district showed on Tuesday. The order also disallows his children from attending private schools. The conglomerate declined to comment on the order. While such court-ordered bans in China are indefinite, … [Read more...] about HNA Group chairman barred from flying, vacationing on firm’s failure to pay court-ordered US$5,300

TAIPEI: As they celebrated tying the knot at an outdoor party, many of the first same-sex couples to marry in Taiwan on Friday (May 24) urged Asian governments to follow their island's lead. Taiwan's decision to legalise same-sex marriage was not without controversy and came after three decades of campaigning by activists against staunch conservative opposition. READ: Taiwan holds first gay weddings in historic day for Asia It places the island at the forefront of the gay rights movement in Asia, a continent home to 60 per cent of the world's population but where the battle for marriage equality has struggled. "I think this will have a ripple effect and influence other Asian countries, they will see that this is feasible, that it can be done in Taiwan," Chen Xue, a writer who married her long-term partner on Friday, told AFP in a Taipei park where newlyweds and their supporters had gathered to celebrate. "Even though there might be some unease in the short term, in the … [Read more...] about We do: Taiwan’s gay newlyweds urge Asia to follow their lead

TOKYO: Oil prices slipped on Tuesday as worries over slow recovery in global fuel demand were reinforced by warnings by major oil producers, but short-covering ahead of a meeting later this week of OPEC and its allies, known as OPEC+, limited losses. Brent crude was down 5 cents, or 0.1per cent, at US$39.56 a barrel by 0407 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 3 cents, or 0.1per cent, at US$37.23 a barrel. Both contracts ended slightly lower the previous day. "Sentiment in oil markets remained gloomy due to bleak demand outlook by oil producers and as a resurgence in COVID-19 cases in many countries fuelled concerns over slower pick-up in global fuel demand," said Chiyoki Chen, chief analyst at Sunward Trading. "Brent and WTI are likely to stay between US$35 and US$40 a barrel until U.S. demand for heating oil starts picking up as the peak driving season has ended," he said. Major oil industry producers and traders are forecasting a bleak … [Read more...] about Oil slips as bleaker demand outlook weighs on sentiment