Iris Hong


First CDRs open for subscription on China's STAR Market

First CDRs open for subscription on China's STAR Market

(ATF) China’s first initial public offering of Chinese Depositary Receipts – or CDRs – by Xiaomi-backed electric scooter maker Segway-Ninebot (Ninebot), has opened for subscription on Shanghai’s Nasdaq-style STAR Market. Analysts expect the CDR to facilitate the return of Chinese tech companies that have gone public overseas to their homeland's …

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Yuan gets an upgrade as China’s economy recovers

Yuan gets an upgrade as China’s economy recovers

(ATF) China's quick economic recovery has made it the only major economy to post growth in 2020, and the PBoC's reluctance to cut rates has analysts scrambling to raise their forecasts for the yuan.A spokesperson from the State Administration of Foreign Exchange has called for enterprises to be cautious about …

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TSMC raises 2020 outlook 30% in sign of 5G boost

TSMC raises 2020 outlook 30% in sign of 5G boost

(ATF) Taiwan Semiconductor Manufacturing Company (TSMC) raised its 2020 revenue forecast for a second time this year, supported by robust demand for 5G mobile devices like Apple’s new iPhones and high-performance computing (HPC). CC Wei, chief executive of the world’s largest contract chipmaker, told investors on the company’s third quarter …

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With Prada to 1-yuan deals, Alibaba kicks off Chinese Black Friday early

Prada to 1-yuan deals, Alibaba kicks off Chinese Black Friday

Alibaba Group yesterday kicked off presales for this year’s 11.11 Global Shopping Festival, the biggest shopping event in the world, and announced to extend the sales period this year by three days in an effort to spur spending amid the pandemic.Another promotion period from November 1 to November 3 will …

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Pandemic spurs buy-up of debt-laden airlines in China

Pandemic spurs buy-up of debt-laden airlines in China

(ATF) Consumer demand for flights has recovered, but China’s smaller private airlines are running out of working capital. Local governments have stepped in to “bargain hunt” for new owners and turned these airlines into local sweethearts. Several have been nationalised – Ruili Airlines, Hongtu Airlines and Qingdao Airlines – but …

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Promise of China’s first 7nm chip tangled in fiasco

Promise of China’s first 7nm chip tangled in mystery

(ATF) Once a star project on the Wuhan government’s list, the $20 billion Wuhan Hongxin Semiconductor Manufacturing (HSMC) project has been put on hold and its promise to deliver China’s first 7-nanometre (nm) chips may never happen. Chinese media say HSMC is only one of many who have exploited the …

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Shenzhen, China's fintech sandbox

Shenzhen, China's fintech sandbox

(ATF) China released a plan on Sunday about implementing pilot reforms in Shenzhen – Hong Kong’s neighbour – to develop the city into a model socialist city over the next five years.Now in its 40th year as a special economic zone, Shenzhen will be given more autonomy to manage its …

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