CX Daily: China Boots Record Number of Companies From Its Bourses
In Depth: China boots record number of companies from its bourses
A record number of companies got the boot from Chinese mainland stock exchanges last year, and the total could double in 2023 as regulators ramp up efforts to cull poorly performing businesses and those that violate the rules or break the law.
A total of 42 companies were kicked off either the Shanghai or the Shenzhen stock exchange in 2022, more than double the figure in the previous year, according to public information compiled by Caixin. The vast majority were delisted due to poor financial performance.
Covid deaths fall nearly 80% from January peak, China CDC says
The number of Covid deaths in China dropped nearly 80% from a peak this month and the number of critically ill Covid patients fell 72% from the daily peak, according to the Chinese Center for Disease Control and Prevention (CDC).
In a statement published Wednesday, the CDC said Covid deaths in Chinese hospitals declined to 896 Monday from a peak of 4,273 Jan. 4. Meanwhile, the number of seriously ill patients in hospitals fell to 36,000 Monday from a high of 128,000 Jan. 5.
China shivers through freezing Lunar New Year as temperature records tumble
A cold snap that began last week and is coinciding with the Lunar New Year holiday caused temperatures in parts of China, including the capital Beijing, to plunge to record lows, with business and financial hubs Shanghai and Guangzhou shivering through their chilliest days so far this winter.
On Wednesday morning a weather station in Beijing’s Mentougou district recorded its lowest-ever temperature of minus 22.4 degrees Celsius, the National Meteorological Center (NMC) said.
FINANCE & ECONOMY
Charts of the Day: Gloomy outlook for China’s population
China’s population fell in 2022 for the first time since 1961, but the drop shouldn’t have come as a surprise. A string of other data trends over the past few years, from marriages and births to fertility rates, all presaged the decline.
At the end of 2022, the Chinese mainland had 1.412 billion people, 850,000 fewer than a year earlier, according to data issued by the National Bureau of Statistics (NBS) Jan. 17. The bureau’s calculation was based on a survey of households, although the number involved was not disclosed.
At least one Chinese national among victims in Lunar New Year U.S. shooting
China’s consulate in Los Angeles confirmed that at least one Chinese citizen was among the 11 killed during the Saturday mass shooting at a dance club in Monterey Park, California.
In a statement published Tuesday, the Chinese Consulate General said it was in close contact with local police and relevant departments in the U.S. on progress of the investigation and welfare of Chinese nationals involved.
China urges Los Angeles community to be vigilant after New Year’s Day mass shooting
Quick hit /
China to resume overseas group tours Feb. 6 to 20 countries
BUSINESS & TECH
Hills of salt at Uyuni, Bolivia. Photo: IC Photo
Hills of salt at Uyuni, Bolivia. Photo: IC Photo
Bolivia picks CATL-led consortium to develop untapped lithium deposits
The Bolivian government chose a Chinese consortium led by battery giant Contemporary Amperex Technology Co. Ltd. (CATL) to invest upwards of $1 billion in developing local untapped lithium deposits, with the ambitious goal of producing lithium batteries in the country by 2025.
Bolivia has the largest lithium reserves in the world but little local means to develop them. Its state-owned Bolivian Lithium Deposits (Yacimientos de Litio Bolivianos), known as YLB, signed agreements with the consortium, CBC, to jointly exploit, refine, process and market lithium resources, the country’s Ministry of Hydrocarbons and Energy said Jan. 20.
China’s box office springs back during Lunar New Year holiday
China is showing signs of a box office revival as people flock to theaters during a Lunar New Year holiday unrestrained by Covid movement curbs, industry data suggest.
The country’s box office reached 4.7 billion yuan ($692.8 million) during the first five days of the public holiday starting Saturday, 6.8% higher than the same period last year, according to data from Dengta, a movie industry intelligence provider.
Blizzard games go offline in China as deal with NetEase ends
A number of iconic Blizzard games such as World of Warcraft went offline on the Chinese mainland at midnight Tuesday as a 14-year partnership between the U.S. developer and Chinese gaming giant NetEase Inc. ended after licensing talks broke down.
Other suspended game titles in the world’s largest gaming market included Hearthstone, Overwatch, Diablo III and the StarCraft series, according to a Monday notice released by NetEase that also thanked players for their support and patience.
Quick hits /
Taiwan fines Foxconn $329,000 for unauthorized Unigroup investment
Cathie Wood’s Ark Investment resumes selling in JD.com
Long Read /
Liu He’s Davos speech explained
Lunar New Year travel rebounds
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