/biz/ - Business & Finance

Who is this woman?

>inb4 man

>>50887530
What’s the bank-run situation like in China? Is the financial sector becoming insolvent?

China Daily Business news.
>https://www.chinadaily.com.cn/business

all crypto is chinese because tether

>>50887571
Honestly, I want to know also Anon. Help me start this general. /CHI/ Chinese news? Chinese market info? Chinese gen? ?CHIGEN? /CHI/

>>50887585
I don't know about tether cause I am a stock fag. Enlighten us CHI bro!

chinese meme stocks or nah

>>50887637
MEGL is for sure P&D. If you missed it now them do not get in. Let's find the new China IPO.

Chipmakers beat expectations

>Two major Chinese chipmakers recorded better-than-expected revenue in the June quarter, with Semiconductor Manufacturing International Corp highlighting its long-term confidence in local semiconductor manufacturing, despite short-term challenges.

SMIC on Friday reported a 42 percent year-on-year jump in second-quarter revenue to $1.9 billion, slightly better than Bloomberg's estimate of $1.89 billion.

>Its net profit came in at $514.3 million under global accounting standards, down 25 percent from the same period last year, but also exceeding Bloomberg's consensus estimates of $469 million.

>The Shanghai-based company's management said in a statement that due to the COVID-19 epidemic, some of its plants did not conduct annual maintenance in the second quarter, causing the overall impact of the epidemic on output to be lower than expected. As a result, its revenue and gross margins in the quarter slightly exceeded forecasts.

>https://www.chinadaily.com.cn/a/202208/13/WS62f6e7f4a310fd2b29e71f16.html

China Aviation

>Several airlines seek to tap growing demand for biz and education travel

After a hiatus of more than two years, more international flights to and from China restarted this month after the country's aviation regulator decided to relax rules-this bodes well for the recovery of a sector hurt by COVID-19 and subsequent losses, industry experts said on Friday.

Direct flights between China and the United Kingdom resumed on Thursday after a gap of more than 18 months, following negotiations between the Civil Aviation Administration of China and the UK's Department for Transport, the British Embassy in Beijing said on Wednesday.

Air China took the lead by restarting direct flights between Beijing and London on Thursday, followed by China Eastern Airlines that relaunched services from Shanghai to London on Friday, while China Southern Airlines announced flights from Guangzhou to London from Aug 17.

Flights to other European destinations also resumed. Hainan Airlines announced restoration of direct flights between Beijing and Berlin on Friday. This is the Hainan-based carrier's fourth regular intercontinental flight to resume service from Beijing or surrounding areas since the COVID-19 pandemic broke out, according to Securities Daily.

"The resumption of these international flights resulted from China's constantly optimized measures for containing COVID-19, which has boosted confidence of carriers to restore more outbound flights," said Zheng Hongfeng, founder and CEO of aviation data and solutions provider Vari-Flight.

The CAAC said on Sunday that any flight with five detected COVID-19 cases will be suspended for one week when the confirmed cases account for 4 percent of all those onboard, and for two weeks when the confirmed cases account for 8 percent of those on board.

>China Crypto Mogul Seeks to Sell Huobi Stake at $3 Billion Value

China Crypto Mogul Seeks to Sell Huobi Stake at $3 Billion Value

Huobi Group founder Leon Li is in talks with a clutch of investors to sell his majority stake in the crypto-exchange at a valuation of as much as $3 billion, in what could be the industry’s largest takeover since a $2 trillion global crypto rout began.

The Chinese crypto-mogul has held discussions with a raft of financiers, seeking to sell a roughly 60% slice of the company he founded almost a decade ago, according to people familiar with the matter. Tron founder Justin Sun and crypto-billionaire Sam Bankman-Fried’s FTX are among those who’ve had preliminary contact with Huobi about a share transfer, the people said, asking to remain anonymous discussing private information.

Existing backers including ZhenFund and Sequoia China were informed about Li’s decision during a July shareholders’ meeting, the people said. A deal could be completed as soon as the end of this month, one person said. Li is seeking a valuation of between $2 billion to $3 billion, meaning a sale could fetch upwards of $1 billion, the people added.

>>50887539
>>50887539
Honestly, I don't know anymore anon. I apologize, but I will try keep the sauce from now on. I hope others can help.

I am saving links for a general thread. If you have good English Chinese or Taiwanese news sites drop the URL here. Other China and Taiwan sites can be left here also ATM.

Billionaire Twitter Founder Jack Dorsey Takes on China

>Jack Dorsey speaks little, but when he does, he does not hesitate to attack the powerful.

The founder of microblogging website Twitter (TWTR) - Get Twitter Inc. Report last June decided to work on a new generation of decentralized internet that would escape the control of big tech -- Alphabet's Google (GOOGL) - Get Alphabet Inc. Report and Meta's (META) - Get Meta Platforms Inc. Report Facebook -- and venture capital firms.

This decision came after a verbal confrontation on Twitter with legendary VC firm Andreessen Horowitz.

Web 3, the new iteration of the internet, is “somewhere between a and z,” Dorsey wrote in December, referring to a16Z, a shorthand for Andreessen Horowitz.

He meant that since a16Z is one of the main firms financing web3 projects, we would simply go from an internet controlled by Google, Meta, and others to an internet dominated by VCs. Marc Andreessen, co-founder and general partner at a16z, then blocked Dorsey on Twitter.

Andreessen, who also co-founded the early internet platform Netscape and was an early investor in Facebook, has been an early backer of web 3. He has already invested more than $3 billion into various crypto and web 3 startups.
'End the CCP'

"End the CCP," Dorsey wrote, without elaborating.

"Green code is needed to enter public areas. Red means quarantine/isolation. Authorities track people's movements thru these apps. Concern is this surveillance will stay long after covid is gone." the reporter said

"After more than two years of these on and off restrictions, people are getting frustrated," she said in the report. "Every part of our days are tracked and surveilled."

Health apps, which are mandatory in China, show users a "green code" if they are allowed to travel and a "red code" if they must immediately self-isolate or enter quarantine.

But critics have warned that Chinese authorities are using health apps to crack down on dissent.

>>50887571
Small banks in China are running into trouble. Savers could lose everything

> The 45-year-old entrepreneur asked us to call him Peter for security reasons. He’s from the eastern city of Wenzhou and is just one of thousands of depositors who have been fighting to recover their savings from at least six banks in rural provinces in central China.

“I’m close to having a nervous breakdown. I can’t sleep,” Peter told CNN Business.

When he tried to access his accounts online, a statement would pop up on the homepage informing him that the website was under maintenance and services would be unavailable for a while, Peter told CNN Business. Two months later, those services have not been restored.

The trouble began in April, when four banks in Henan suspended cash withdrawals.

In China, local banks are only permitted to obtain deposits from their home customer base, but authorities say that “third-party platforms” were used to acquire funds from depositors outside the region. In Peter’s case, for example, his hometown is over 700 miles away from the banks in Henan.

The national banking regulator has accused a major shareholder of the four banks of illegally attracting money from savers. “Henan New Fortune Group, a shareholder of the four village banks, has illegally absorbed the public’s funds through internal and external collusion, the use of third-party platforms, and fund brokers,” the China Banking and Insurance Regulatory Commission told state-run Xinhua News Agency in May.

>>50887996
> Risky liabilities

In early 2021, Beijing banned banks from selling deposit products via third party online platforms, fearing that the rapid expansion of the fintech sector could increase risks in the wider financial system. The People’s Bank of China called such practices “illegal financial activities.”

So why were small local banks in Henan apparently ignoring the ban and raising deposits from savers — like Ye, who live on the other side of the country?

China’s national banking and insurance regulator says third party online platforms allowed them to bypass these geographical restrictions and grow their business nationwide.

>Chinese Miners

>David Pan
Thu, August 11, 2022 at 9:43 AM·3 min read
1 / 2
Crypto Lender Tied to Chinese Rig Giant Throws Miners a Lifeline
In this article:

CORZ
+3.70%
NG=F
-1.06%
LC=F
-0.66%
FC=F
-0.65%

(Bloomberg) -- Chinese Bitcoin mining rig giant Bitmain Technologies Ltd. has been selling machines to miners for about nine years. Now it’s helping to keep them afloat during the cryptocurrency market downturn through its ties with industry financier Antalpha.

>itmain and its Antpool mining spinoff are working with Singapore-based Antalpha to offer low-interest loans to miners to help them reduce borrowing costs and repay nearly $4 billion in loans backed by equipment which have fallen in value along with the price of Bitcoin since it peaked in November.

Antalpha, which calls Bitmain and Antpool “strategic partners,” will use proprietary data from these two companies to enable it and other crypto lenders to evaluate financing risks, Max Liao, managing director of business development at Antalpha, told Bloomberg. Antpool is the second-largest Bitcoin mining pool in the world.

Bitmain has been one of the largest beneficiaries of the crypto-mining boom in North America after China banned it in May 2021. The mining-machine manufacturer and consultant, which is still based in China while operating subsidiaries overseas, continues to have strong pricing power. It has the lion’s share of the Bitcoin mining hardware market with as much as $5.6 billion in revenue over the last year, according to an estimate by crypto-mining company Luxor Technologies Corp. based on purchase orders and rig prices.

Are zerg rushes on bank-runs still a thing in China?

BEIJING, Aug. 13 (Xinhua) -- China's textile industry posted stable revenue growth in the first half of this year, official data showed.

Textile companies with an annual main business income of at least 20 million yuan (about 3 million U.S. dollars) raked in 2.52 trillion yuan in revenue in the first six months of 2022, up 5.7 percent year on year, according to the Ministry of Industry and Information Technology.

The total added value of these companies rose 0.9 percent year on year during the period.

The combined sales of main retailers amounted to 8.12 trillion yuan in the January-June period, up 0.8 percent from a year earlier. The country's garment exports amounted to 156.5 billion U.S. dollars, an increase of 11.7 percent.

>>50888058
>>50888058
It appears not to be an issue as far as I can find ATM. 08/13/2022 EST

If any other Anons contribute please do with citations.

I will ask random Chinese people questions during appropriate times if I can utilizing WeChat. Although, my location will make it tough to complete.

Why are you not selling JiaoZi on the street anon?

>>50888136
I doubt they would advertise such a thing. They would be able to manage running a tight ship for now.

>>50888180
>>50888180
Are there any China Anon's who could give a true location status? Or a better news source, 中文新华, I will not be able to until I return to China.

>>50888220
This is a Tibetain Yak shaving forum, sir. Ask /GME/.

>Taiwanese Military Drills

https://www.youtube.com/watch?v=dbVfTmyldIc

>Pentagon Officials insist China would not invade for at least 2 more years.

>>50888272
Ok. To /GME/ we go.

>>50888272
Ok, I sent the same question to /GME/ we shall await their answer.

>>50888220
First reply
>>50888298 (You)
>return
ngmi

>>50888322
It is an abrasive culture, there are a few Chinese holders that show themselves from time to time. I haven't seen many other Chinese anons here. Ryan Cohen's (Chairman of GME) partner is Chinese and has been lurking in the threads from time.

>>50888272
>>50888298 (You)
ChinaAnon, I summon you!

噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢噢

They appear to be asking anon. I hope you receive an answer.

>glowies think spreading misinformation about china will make it go into recession
Chinks have over $3 trillion reserve, they can bailout evergrande and every developer easily.
They have trade surplus with almost every major country they deal with and they'll recover all the money in an year.

>>50888343
I have lived in Chin a for a year. And have a degree in Mandarin Chinese. I hope to facilitate a new general that can, for the time being, contain Chinese Crypto and Business news. Although, I hope and expect for a China Crypto Anon to take over that general soon. I want to encourage more regional generals in /biz/ because we cannot just have garbage pajeet coins for every thread.

>>50888371
How can US investors profit from this information Anon?

>Test

Here's some chinese smart phone data to keep your thread alive chinaanon

Haha, you're losing ur money on the shit and then cry on 4ch on every topic. Be smarter, kids, check Life Beyond

>Massive Multiplayer Online game
>Doxxed Team
>Upcoming NFT Drop

>YINN 67.88+1.05 (+1.57%)
At close: August 12 04:00PM EDT

>YANG 14.97-0.22 (-1.45%)
At close: August 12 04:00PM EDT

>>50888376
I would love to know more as an Australian as our nation strong economic ties with China buying many of our minerals and assets, Dan Andrews even supported the Silk Road 2.0, but the prognosis for many nation states is not good. Our public medicine system has about 2 months left until the U.S. has completely looted those coffers and the Central Bank is tightening hard.

With high mental health rates, it is a societal tsunami with the waves receeding as we speak.

How about Kintor Pharmaceutical.
They have the only drug for male baldness that's currently in Phase 3 clinical trials. There's currently only 2 treatments approved by the FDA for male baldness (finasteride+minoxidil) which don't work for everyone and have been the only treatments on the market for decades. Consider how many people go bald, and how vain our society is these days and especially zoomers will be looking for any treatments they can get their hands on.
Any other new drugs to the market are still years away.

>>50888437
fuck off you yellow bug worshipper

>>50887530
Jannies really are fucking trannies. The sight of beautiful female form upsets them. It reminds them of that which they will never be. Just as it is true that WAGMI, it is also true that they WNBAW.

>>50888490
Which tickers anon?

How can you help us?
Save us from China, Anon please!

>>50888506
Thank you, Anon! WAGMI!

>Anons, if you don't like China, then help us all exploit it!

>If you like Asia and China then help us make money and create lives there!

Anon I love Asia, after living in both China (for 1 year) and Worst Korea ( 8 months), also East China for 2 Months...I want to be able to capitalize on our ability to reach those countries! Help create a better /biz/ Create your /country/!

Crypto only, I dont trust the stocks

>>50888555
Digibyte.

>>50888555
>checked yo!
What is the Asian crypto hotspot bro? Any insider info crypto is cool bro! I'm trying to start both in one thread for now. A cool crypto Anon can take over a Asian or Chinese crypto thread if they want. I just want one place for Asian stuff ATM.

>>50888559
I will look into this DigiByte. If it is garbage tell us why!
>DigiByte is that the Asian Anon's crypto of choice ATM?

>>50888559
I cannot trade DigiByte on Webull or Robinhood. >How can I trade it? (this is your chance DigiByte Anon)
>It is the weekend, any Anons have any stock plays they are looking to for the coming week in China, Korea, Japan, or Asia?

Market Close for @USA EST

>>50888769
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>>50888376
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>>50888287
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>>50888220
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>>50888136
>>50888095
>>50888046
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>>50887530
jesus christ

>>50889003
Ok!

>Thanks for the bump, Anon!

>>50889063

Taiwan or Indonesia. Any investment ideas?

>TSMC?

>Indonesia? Are there any worthy investments there?

>Vietnam. I have heard the US wants to invest in Vietnamese factories, but how can anon capitalize on it?

>Indonesia: Banking and commodity plays

>Vietnam and Singapore

JPMorgan Asset Management also likes Vietnam, which Loh termed a “star performer in the past few years” in economic resiliency and growth. Vietnam is one of the few economies globally to have seen positive economic growth throughout the pandemic, he added.

Anymore detailed ideas?

>PTON Short now, is this the best play?

>ZM Is the Chinese video conference player finished?

>>50888497
Wow! Damn Anon, that is some good info. I haven't heard any about this yet! But that is, of course, an amazing investment if true!

Can any other anon's better at investigating financials take a look here at Kintor Pharmaceutical?

>>50888495
Australia to China mineral transfer....interesting take. Can anyone else feed Anon with some answers?

>>50888497
>>50889818
Traded on HongKong Stock Exchange - 9939

Random TA shows a downtrend with no apparent recovery long term.

Great idea though, that of course would make tons of money. But do they have any studies that beat out red light therapy as cheaper and/or more effective.

>>50888495
Does anyone have any insights into Australia and their mineral rights or sales?

This is totally out of my area even for a quick search, so of course Anon could use some help here.