Iris Hong


PBoC JV with Swift may signal bid to boost digital yuan's reach

PBoC JV with Swift may signal bid to boost digital yuan's reach

(ATF) The People’s Bank of China (PBoC) has set up a joint venture with SWIFT, the global system for financial messaging and cross-border payments, in a sign that China is exploring global use of the digital version of the yuan - China’s national currency. SWIFT (the Society for Worldwide Interbank …

Continue reading

China backs merger of Shenzhen’s main stock and SME boards

China backs merger of Shenzhen’s main stock and SME boards

(ATF) China’s securities regulator has approved consolidation of the Shenzhen Stock Exchange’s main board and the small and medium-sized enterprise (SME) board in a bid to streamline the bourse’s structure and better serve enterprises’ financing needs.The SME board was created in 2004 to help smaller companies raise funds after new …

Continue reading

SMIC spending $9 bn to build China’s most-advanced wafer plant

SMIC spending $9 bn to build China’s most-advanced wafer plant

(ATF) The sub-14-nanometer wafer plant that Semiconductor Manufacturing International Co (SMIC) is spending $9.06 billion to build has been identified by the local government as a key project for 2021, as the country bids to boost its semiconductor supply chain amid ongoing US sanctions in the tech sector.Analysts say the …

Continue reading

Tesla’s Supercharger factory in China goes online

Tesla’s Supercharger factory in China goes online

(ATF) Just a few months after revealing plans to build a supercharger factory in Shanghai, Tesla announced on Wednesday the facility was completed and put into production.“With the strong support of Shanghai municipal governments at all levels and Tesla’s rapid advancement, Tesla’s Shanghai Super Charging Pile Factory was officially completed …

Continue reading

SMIC to expand mature technology amid US sanctions squeeze

SMIC to expand mature technology amid sanctions squeeze

(ATF) Chinese chipmaker Semiconductor Manufacturing International (SMIC) will allocate the majority of its $4.3 billion capital expenditure (capex) for 2021 to expand mature technologies to keep up with customer demand, as US sanctions have squeezed revenues from advanced processes and eroded margins.“At present, the foundry industry capacity is tight” outside …

Continue reading

China’s provinces aim for over 6% GDP growth this year

China’s provinces aim for over 6% GDP growth this year

(ATF) Most of China’s provinces are targeting economic growth of at least 6% this year, with Hubei, epicenter of the coronavirus outbreak last year, and Hainan free-trade port, expecting to hit double digits.Aside from Hebei and Heilongjiang provinces – which have been hit by sporadic re-emergence of Covid-19 – and …

Continue reading

China records world's top five VC deals in Q4

China records world's top five VC deals in Q4

(ATF) Chinese companies accounted for the top five venture capital (VC) mega-deals globally in the fourth quarter. Sectors with high demand amid the pandemic such as logistics, ed-tech and healthcare attracted interest across Asia, according to an analysis by KPMG.“After a lacklustre first half of the year, VC investment in …

Continue reading