PRE-MARKET CHINESE STOCK NEWS: US President Biden’s administration is to propose barring Chinese software and hardware in connected vehicles on US roads
Beijing Energy International (686 HK) - Co. announced that Beijing Guodian, Beied and Huadian Gaintime entered into a limited partnership agreement with a total capital contribution of CNY 2.13bln. (Newswires)
China Environmental Energy Investment (986 HK) - Co. announced Chair and Executive Director Zhou Yaying retires, while Liu Jun was appointed as chairperson. (Newswires)
China Environmental Resources (1130 HK) - Co. sees consolidated loss for the year to increase by a minimum 100% Y/Y. (Newswires)
China Aoyuan (3883 HK) - Co. announced Guo Zi Wen re-designated from executive director to non-executive director and is no longer the chairman, while Mohamed Obaid Ghulam Badakkan Alobeidli was named as Chairman and Ace Rise will transfer 621.7mln shares in the Co. to Middle East investment institution Multi Gold Group Limited. (Newswires)
China Mobile (941 HK) - Co. August 5G network customers 533.5mln (prev. 528mln M/M). (Newswires)
China Telecom (728 HK) - Co. August mobile subscribers increased by a net 1.7mln to 420.7mln. (Newswires)
China Unicom (762 HK) - Co. August aggregate number of Big Connectivity subscribers 1.09bln (prev. 1.08bln M/M). (Newswires)
Greater Bay Area Dynamic Growth Holding (1189 HK) - Co. was presented with a winding up petition on July 18th and it is seeking legal advice in respect of its appropriate response to the petition. (Newswires)
Midea Real Estate (3990 HK) - Co. H1 (CNY) net fell 64.2% Y/Y to 596.2mln, rev. fell 30.8% Y/Y to 25.1bln. (Newswires)
Property - Chinese banks may carry out a new round of mortgage rate cuts this year to help shore up flagging consumption, according to analysts cited by Securities Daily. (Securities Daily)
Tech - Huawei launched over 20 all-new Xinghe Intelligent Network offerings to amplify industrial intelligence. (Newswires)
Other News
US President Biden said his view is that Chinese President Xi is looking to buy diplomatic space to aggressively pursue China’s interests and is trying to minimise turbulence in diplomatic relations. Biden said that China continues to behave aggressively in the South China Sea and Taiwan Straits, while he said the US sees engagement with China as important for conflict prevention and crisis management, according to Reuters. (Newswires)
US President Biden’s administration is to propose barring Chinese software and hardware in connected vehicles on US roads with the Commerce Department expected to propose making prohibitions on software effective in the 2027 model year and prohibitions on hardware would be in January 2029, according to Reuters sources. (Newswires)
US President Biden and Japanese PM Kishida reaffirmed a commitment to developing and protecting technologies like AI and semiconductors while increasing resilience to economic coercion, while they also discussed diplomacy with China and destabilising activities including in the South China Sea during a meeting on Saturday. (Newswires)
Data Recap
- Hong Kong CPY YY (Aug) 2.5% vs Exp. 2.6% (Prev. 2.5%). (Newswires)
23 Sep 2024 - 02:23- MetalsResearch Sheet- Source: Newswires
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