ACN Newswire

Li Jiaqi and Livestreaming, Unbound by Time or Space

indie
4 minutes

HONG KONG, Aug 20, 2021 - (ACN Newswire via SEAPRWire.com) - Li Jiaqi, the most influential figure in China's livestreaming e-commerce space, recently announced his latest move - his hosting of a new fashion show at the iconic Shanghai K11 Art Mall, to be held between August 19-22. The show will feature five up-and-coming Chinese designers, based throughout the world, who will interact with visitors on the scene. It may sound like fantasy, but such reality is made possible through the implementation of livestreaming technology.At the show, visitors can check out the 2021 autumn and winter collections, while at the same time interacting with the participating designers through opening relevant "doors." As an extension of Li Jiaqi WoW, Li Jiaqi's online live shopping information & recommendation program, the show promises an immersive experience unbound by time or space and different from the conventional live streaming studio partitioned by screens. Li is China's most popular key opinion leader (KOL) in the livestreaming e-commerce industry - with nearly 170 million fans - and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, live...

ACN Newswire

Li Jiaqi, China’s “King of E-commerce Livestreaming,” to Host Interactive Fashion Show

indie
4 minutes

HONG KONG, Aug 20, 2021 - (ACN Newswire via SEAPRWire.com) - Li Jiaqi, known for his successes as a livestreaming e-commerce influencer, is set to host a fashion show at the iconic Shanghai K11 Art Mallon August 19-22. The show will feature both online and offline elements, in line with recent shopping trends in China. By taking Li Jiaqi WoW, his personal shopping information and recommendation channel, offline for the first time ever, Li will encourage viewers to interact with the five participating up-and-coming Chinese designers, based around the world, via livestreaming behind the "door" (in Li Jiaqi's new product launch, the word "door" metaphorically implies the bridge between online and offline channels). Different from conventional livestreaming shows, Li Jiaqi's team has created an immersive showcase of interconnected livestreaming and e-commerce elements.Li is China's most popular key opinion leader (KOL) in the livestreaming e-commerce industry - with nearly 170 million fans - and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, livestreaming e-commerce has grown in popularity in China. Outperforming all other shopping ch...

SeaPRwire

Global investors bet on China’s rental property amid shifting political winds

elean
4 minutes

SHANGHAI (REUTERS) - Beijing's regulatory firestorm is hitting large swathes of China's economy, but global investors including Blackstone and Warburg Pincus are ramping up bets on Chinese rental properties, judging the political wind is blowing in their favour. China has cracked down on private tutoring, brought monopolistic tech giants to their knees, and stepped up curbs on home buying. But Beijing is wooing capital to help provide rental housing and is attracting plenty of institutional interest. In China, "people need to be housed, but houses have become too expensive to buy. You need to have housing for rent," said Graeme Torre, managing director of APG Asset Management, which has entered China's rental housing market in partnership with US property developer and operator Greystar. "We like to invest with policy rather than trying to avoid it or invest against it. So I'd like to think it's politically correct," Mr Torre said, estimating APG will commit around 1 billion euros (S$1.59 billion) into Chinese rental housing over the next 3-5 years. Centralised long-term rental apartments - or multifamily as they're called in the United States - are the best solution to the housing...

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Sihuan Pharmaceutical(0460.HK): Respond to the special directives to combat illegal medical aesthetics services, Advocate ‘Positive Energy’ of China’s Medical Aesthetics Industry

indie
4 minutes

HONG KONG, Aug 11, 2021 - (ACN Newswire via SEAPRWire.com) - On June 10, 2021, the National Health Commission, leading eight ministries and commissions, issued the "Notice on Distributing the Special Rectification Work Plan for Combating Illegal Medical Aesthetic Services." On August 9, 2021, 'The People's Daily' published an article entitled - 'Medical aesthetic sector needs to achieve best effects and prevent adverse consequences.' The article highlighted the current rectification plan in the medical aesthetic sector is to establish high industry standards, strengthen supervision, and crack down on illegal medical aesthetic services in order to create a clean and reliable medical aesthetic environment. This plan will foster new advances in medical aesthetic industry and encourage the sector's healthy development.The imported product - Letybo (botulinum toxin type A for Injection) is a medical aesthetic product produced by South Korea's Hugel Inc. Bain Capital, a well-known international private equity fund, is the controlling shareholder of Hugel Inc in South Korea. Beijing Meiyan Space Biomedicine Co., Ltd., a subsidiary of Sihuan Pharmaceutical, serves as the product's exclusiv...

SeaPRwire

Four of Hong Kong’s top banks halt some Evergrande mortgages

elean
4 minutes

HONG KONG (BLOOMBERG) - HSBC Holdings, Bank of China's Hong Kong unit and at least two other major lenders stopped providing mortgages to buyers of China Evergrande Group's unfinished residential properties in Hong Kong, the latest sign of dwindling confidence in the developer's financial strength. The lenders, which also include Hang Seng Bank and Bank of East Asia (BEA), suspended new mortgages for Evergrande's two projects under construction in Hong Kong after re-evaluating the risks of such loans, people familiar with the matter said, asking not to be identified discussing private information. Evergrande still has good relationships with many banks in Hong Kong, so its local operation won't be impacted, the developer said in a written statement while declining to comment on any action by individual banks. It's sticking with plans for its Hong Kong projects, and is confident on delivering Emerald Bay II in August as scheduled. The developer said it will consider allowing buyers to delay transactions by 60 days if they're affected. BEA declined to comment and representatives for the three other banks didn't immediately comment. Industrial and Commercial Bank of China (Asia) also ...

SeaPRwire

China’s Huawei scores 4G patent deal for Volkswagen cars

elean
2 minutes

SHANGHAI (AFP) - Huawei has struck a licensing deal that will allow use of its 4G technologies in connected vehicles manufactured by Volkswagen Group, the Chinese tech giant said on Wednesday (July 7). The deal is its largest yet in the automotive industry, it added. It comes as the company moves aggressively into intelligent vehicles and other new sectors after US sanctions imperilled its traditional network equipment and smartphone business lines. Huawei did not provide financial terms or identify the VW supplier but it said the agreement included a licence under Huawei's 4G patents which covers Volkswagen vehicles equipped with wireless connectivity. VW later released a statement which said: "We welcome that a leading ICT (Information Communication Technology) company has granted one of our suppliers a licence to standard-essential mobile communications patents. "This licensing in the supply chain is a model of how the increasingly close cooperation between the mobility industry and the information and communications industry can succeed." Branding Huawei a security threat, the United States has barred the company from the huge American market, cut it off from global supply chai...

SeaPRwire

China asked banks to rein in credit on bubble fears, FT reports

elean
1 minute

BEIJING (BLOOMBERG) - China's central bank asked lenders to rein in credit supply on concern the surge in loans is fueling asset bubbles, the Financial Times reported. The People's Bank of China in February told banks to keep new loans in the first quarter roughly at the same level as last year, if not lower, the newspaper reported citing unidentified people with knowledge of the situation. It is the latest indication policy makers' attention is returning to curbing financial risks, after stepping up monetary support earlier to cushion the economy through the pandemic. Authorities have recently pared back liquidity injections and sounded the alarm over risks in the property sector and bubbles in global markets. China's new loans rose by 16 per cent in the first two months of this year while new home sales surged 133 per cent, according to the FT. More on this topic Related Story The green finance challenge facing China's banks Related Story Chinese banks to feel fund-raising pain as investors fear bad loans

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China fintech curbs that hit Ant were no surprise, Ping An says

elean
5 minutes

BEIJING (BLOOMBERG) - China's curbs on fintech that thwarted a massive stock sale by Ant Group have been under consideration for years and weren't a surprise to those in the industry, according to an executive at China's biggest insurer by market value. Like Ant, Ping An Insurance (Group) was in the midst of planning a public listing for a fintech unit when regulators began issuing a flurry of rules to contain the country's burgeoning online lending industry. Its Lufax Holding Ltd. debuted on the New York Stock Exchange days before the most-sweeping checks were unveiled in November, followed closely by the abrupt suspension of Ant's initial public offering. While the string of tightening moves has prompted investors to dump Chinese tech stocks and led to deep cuts in valuations, industry players saw them coming, Jessica Tan, co-chief executive officer of Ping An said in an interview. Ms Tan, 43, oversees Ping An's technology units including Lufax and OneConnect Financial Technology Co. "Chinese regulators don't suddenly throw a regulation at you and say 'we will do this,'" Ms Tan said while on a visit to her native Singapore. "Every regulation that has been announced, it's not a su...

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Cofttek, China’s Largest Manufacturer of PEA, Draws Attention of Investors

indie
2 minutes

LUOHE CITY, China, Feb 14, 2021 - (ACN Newswire) - Cofttek Holding Limited, a Chinese pharmaceutical manufacturer, has recently drawn the attention of investors, following the U.S. introduction of the FDA drug ultramicronized Palmitoylethanolamide (PEA) for COVID-19 patients. Cofttek is China's largest manufacturer of ultramicronized Palmitoylethanolamide (PEA) raw materials. Following the U.S. news, orders at Cofttek have surged, and production capacity has been saturated. Cofttek founder Dr. Zeng explained, "Following this FDA news, the share price of FSD Pharma (NASDAQ: HUGE), our main competitor in the USA, roared from $3 to $14 in a few days. As the largest PEA manufacturer in China, Cofttek has attracted similar attention from many investors in the industry."About Palmitoylethanolamide (PEA): https://www.cofttek.com/product/544-31-0/Palmitoylethanolamide (PEA), an endogenous (manufactured by the body) fatty acid amide, is emerging as a new agent in the treatment of pain and inflammation. As an endogenous agent, one that is also found in foods such as eggs and milk, no serious side effects or drug-drug interactions have been identified. PEA is a naturally occurring fatty acid....

SeaPRwire
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China fund managers rush to capitalise on investors’ green fever

elean
3 minutes

SHANGHAI • Chinese money managers are rushing to launch new energy funds, seeking to capitalise on investors' green fever which has been fuelled by President Xi Jinping's carbon-neutrality pledge. China's first photovoltaic industry exchange-traded fund, launched by Huatai-PineBridge Fund Management in December, attracted hot demand - with assets under management jumping nearly sixfold in just a month to 10 billion yuan (S$2.04 billion). A slew of mutual fund houses are following suit, with Yinhua Fund Management raising money for a rival product this week while Tianhong Asset Management plans to launch an index fund that invests in solar power companies next Monday. More green energy funds are in the pipeline. The funds will likely bring more money into an already red-hot sector. China's new energy index doubled last year, pushing up the sector's earnings multiples to almost 90 compared with 22 for Chinese stocks broadly. "Renewable energy is the only option for the human race in the combat against climate change," said Mr Richard Pan, portfolio manager at China Asset Management. Mr Pan, who made lucrative investments in battery maker Contemporary Amperex Technology and solar equi...

SeaPRwire
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Pinduoduo worker’s death renews scrutiny over work culture

elean
2 minutes

BEIJING • The recent death of a Pinduoduo employee renewed criticism of the long hours commonly practised at China's tech companies, which are already under scrutiny by regulators for anti-competitive business practices. The e-commerce company confirmed yesterday that an employee died after working past midnight last week. That sparked a social media backlash against the company and the relentless working schedules expected of its employees. The so-called 996 office schedule - 9am to 9pm, six days a week, plus overtime - has spurred criticism in previous years following complaints from tech workers and earlier deaths. Still, tech billionaires from Alibaba Group Holding founder Jack Ma to JD.com chief Richard Liu have endorsed the practice as necessary for survival in an intensely competitive industry and the key to accumulating personal wealth. The online criticism adds to the challenges for China's largest tech companies, which spent the past year fending off efforts by the Trump administration to curb their growth while navigating heightened regulatory scrutiny at home. Beijing last November unveiled regulations designed to root out monopolistic practices in the Internet industry...

SeaPRwire
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Chinese banks to feel fund-raising pain as investors fear bad loans

elean
3 minutes

BEIJING (REUTERS) - Chinese banks are expected to face headwinds raising funds next year as profit-conscious investors cling to the sidelines, expecting a wave of bad loans to hammer the sector and erode already slimming margins. The sector is ending its worst annual performance in years after putting aside record provisions due to Covid-19 while Beijing urged banks to sacrifice profits to help the economy. Next year as lenders end pandemic-related loan forbearance - which let borrowers suspend repayments or pay less in interest - banks must bolster their capital against loans previously not classified as nonperforming. Big and medium-sized lenders also need to improve their capital adequacy as demanded by global and domestic watchdogs. China's banks raised 1.2 trillion yuan (S$24 billion) in the first 11 months of the year, off the pace of 1.5 trillion yuan for all of 2019, data from Fitch Ratings shows. The 26 listed banks may need to replenish at least 1.25 trillion yuan of capital in 2021, Shenzhen-based brokerage Guosheng Securities estimates. "The pressure of capital-raising for the whole banking industry is still pretty big," said Vivian Xue, Fitch's director of Asia-Pacific...

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Chinese clampdown on fintech companies unlikely to affect Singapore firms: Experts

elean
1 minute

China's fintech clampdown will probably have a limited impact on Singapore, although it could encourage investors to pivot to the city-state and local fintech companies to expand their footprint in the region. Yesterday, China's top banking watchdog called for fintech firms to be subjected to the same supervision and risk management requirements as banks. It had laid out detailed regulations aimed at curbing anti-competitive behaviour for the first time on Tuesday. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.