Tag: Tencent Holdings Ltd

China’s Investors Are Losing Faith in Its Markets and Economy

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Like many Chinese people, Jacky hoped that he could make enough money investing in China’s stock markets to help pay for an apartment in a big city. But in 2015 he lost $30,000, and in 2021 he lost $80,000. After that, he shut down his trading account and started investing in Chinese funds that track stocks in the United States. It’s a perilous time for investors in China. Their main vehicle, so-called A shares of Chinese companies, fell more than 11 percent in 2023 and have continued their losses this…

China Appears to Backpedal From Video Gaming Crackdown

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Chinese regulators on Tuesday appeared to backpedal from a plan to reduce how much money people spend on online video games, after the proposal had tanked video gaming companies’ stocks and raised doubts about the government’s commitment to reviving China’s slowing economy. The draft rules disappeared from the website of the National Press and Publication Administration, the agency overseeing the proposal, after previously being posted there for public comment. Instead, the page displayed an error. The agency, which issues licenses to game publishers and regulates the industry, did not issue…

Tencent and Netease Rally on Signs China May Ease Gaming Proposal

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The stock prices of Chinese video game companies rebounded Wednesday after investors seized on signals that the government was having second thoughts about proposed regulations on gaming. Since the weekend, regulators have attempted to calm the market after shares of the two largest video game companies, Tencent and Netease, plunged on Friday. When trading resumed after the four-day holiday weekend in Hong Kong, Tencent rose about 4 percent and Netease jumped 12 percent, recovering some of their losses. The events of the past several days underline the push-and-pull forces in…

China Unveils New Restrictions on Online Video Games

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The Latest Chinese regulators announced new restrictions Friday on online video games, which they said were aimed at tightening the management of the industry and protecting the country’s minors. The proposed rules, which are subject to public comment before being made final, are the latest in several rounds of curbs on the industry over the last few years. The plan would call for users to have spending limits on the game platforms and would prohibit minors from tipping videogame live streamers. The draft rules, issued by the National Press and…

Alibaba, Baidu and Tencent Signal First Steps in Bumpy Recovery

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Eight months ago, the future of China’s largest internet companies looked grim. Covid-era lockdowns crushed sales and Beijing’s harsh tech regulations had spooked even audacious China investors. Shares of Alibaba, Baidu and Tencent dropped to some of their lowest levels in several years. With China’s economy now reopen, the tech giants this week released earnings reports that showed initial signs of recovery. But the financial results, the first issued since the end of “zero Covid” restrictions, also reflected the uneven pace of China’s economic rebound and signaled that the companies’ makeovers, while underway, are likely…

The Chinese Dream, Denied

Chin@Strategy

The narrow alleyways of Haizhu district have long beckoned to China’s strivers, people like Xie Pan, a textile worker from a mountainous tea-growing area in central China. Home to one of the country’s biggest fabric markets, Haizhu houses worker dormitories and textile factories in brightly colored buildings stacked so close that neighbors can shake hands out their windows. Once a smattering of rural villages, the area became a manufacturing hub as China opened its economy decades ago. The government had promised to step back and let people unleash their ambitions,…

U.S. Said to Plan New Limits on China’s A.I. and Supercomputing Firms

Chin@Strategy

The Biden administration has faced some criticism that it has moved slowly to curb China’s access to cutting-edge U.S. technology. For many administration officials, China’s recent progress in clearing a key technological hurdle in semiconductor manufacturing underscored the urgent need for more expansive regulation in the industry, people familiar with the discussions said. The export controls are part of a bigger strategy from the Biden administration to starve China of key technologies while pumping money into U.S. chip-making factories. The measures come as Beijing ramps up its aggression toward Taiwan,…

N.B.A. Basketball Returns to Chinese TV After a Long Absence

Chin@Strategy

China Central Television, China’s state-run TV network, has begun to broadcast N.B.A. games again, signaling that the rift between the league and the authoritarian government that has persisted since 2019 appears to be coming to an end. The news was first reported by Global Times, a state-run Chinese media outlet, and confirmed by a spokesman for the N.B.A. The first game this year on state TV, according to Global Times, was Tuesday night’s matchup between the Los Angeles Clippers and the Utah Jazz. According to Global Times, the broadcast was…

Covid, Russia and Economy Put the ‘China Model’ to the Test

Chin@Strategy

A year ago, while many countries were still reeling from Covid-19, China seemed to be one of few places prospering through the pandemic. It was also the only major economy that reported growth in 2020. Global investors were bullish on Chinese stocks even as Beijing’s regulatory crackdown on its private sector became more like a political campaign. That led some people in China to argue that its one-party authoritarian rule offered a compelling alternative to traditional liberal democracy. The United States was declining politically and economically, they said, and the…

Clamping Down on ‘Spiritual Opium’

Chin@Strategy

Which he did not (although he did not embarrass himself either). What Clegg claimed in his post, “What The Wall Street Journal Got Wrong,” was hard to argue with: that Facebook’s challenges are complex and that the people at Facebook working on them are trying really hard, so give them a friggin’ break. Who can argue with that? No one, since no one is asserting that Facebook is Thanos. Still, he persisted: “These stories have contained deliberate mischaracterizations of what we are trying to do, and conferred egregiously false motives…