MARKET
China, EU held high-level economic, trade dialogue
Chinese Vice Premier Liu He and Executive Vice President of the EU Commission, Valdis Dombrovskis co-chaired the ninth high-level China-EU economic and trade dialogue on Tuesday, according to China’s official Xinhua News Agency.
Foxconn accelerate hiring of fresh graduates in China ahead of iPhone 14 production
Foxconn, a major assembler of Apple’s iPhone, is accelerating hiring of fresh graduates from college in China ahead of the launch of the iPhone 14.
Global smartphone market fell 9% on year in Q2 amid waning demand, economic headwinds – research
The global smartphone market fell 9% year over year in the second quarter amid waning demand and economic headwinds, according to research firm Canalys.
CICC’s ratings and target prices on Chinese property developers
China international Capital Corporation (CICC)’s ratings and target prices for Chinese property developers:
Goldman Sachs, CLSA, Jefferies slashed stock price target for Pop Mart
CLSA lowers the rating for Chinese designer toymaker Pop Mart to Outperform from Buy and slashed the highest stock price target by 48% to HK$26 from HK$50.
Rise in mortgage defaults in China raises risks, authorities likely to step in – Fitch
A rise in the number of Chinese homebuyers ceasing mortgage payments on properties where construction has been suspended for a prolonged period could weaken banks’ asset quality and authorities are likely to step in to curb mortgage defaults from spreading more widely and to larger cities, says Fitch Ratings.
