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Bank of America Corp DE trimmed its position in SPDR S&P China ETF (NYSEARCA:GXC) by 7.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,058 shares of the company's stock after selling 7,846 shares during the period. Bank of America
The Hang Seng Index has outperformed its major Asian peers this year, even as the Kospi and Nikkei 225 have come under pressure. The index has rebounded nearly 14% from its lowest level this year, while the Nikkei 225 and Kospi have fallen about 15% and 40%, respectively, from their year-highs.
Chinese regulators are considering tightening export controls on AI and semiconductor technologies, the Financial Times reported on Tuesday.
China can stabilise economic growth this year by accelerating already-budgeted national infrastructure investment projects, economists and one government adviser said, reducing the likelihood of large-scale fiscal stimulus.
China has unveiled a new carbon-peaking action plan that targets new energy vehicles (NEVs) accounting for 30% of the country's total vehicle fleet by 2030, marking a significant step in the electrification of the world's largest automobile market. The State Council on Thursday released the "15th Five-Year Plan" Carbon Peaking Action Plan, outlining the country's roadmap to peak carbon emissions before 2030.
China's onshore technology IPOs are on track for their strongest year since 2023 as Beijing seeks to bolster listings of chip and artificial intelligence companies in a push for tech self-reliance amid the country's rivalry with the U.S.
China's State Council, the cabinet, issued the country's next five-year plan for implementing the "employment-first strategy" on Wednesday, pledging to keep the job market broadly stable and prevent large-scale unemployment risks.
Dan Wang from Eurasia Group says China is a major beneficiary of the increase in U.S. AI capex, with AI-related exports driving growth. She also thinks that China's strength in supplying critical components makes it indispensable to the global economy.