CX Daily: China’s Efforts to Unlock the Value of Data as an Asset
TOP STORY
Data?/
Chinese businesses and regulators are making new efforts to put a value on data generated in commerce and to monetize information as an asset in the digital economy.
Government data indicates that from 2012 to 2021, China’s digital economy expanded from 11 trillion yuan ($1.5 trillion) to more than 45 trillion yuan, and its share of the national economy grew from 21.6% to 39.8%. The burgeoning digital economy generates vast amounts of data, which can be harnessed for business development through collection and analysis. ?
FINANCE & ECONOMY
Bonds?/
Yields on China’s long-term sovereign bonds have continued to drop this week due to heightened demand as expectations for looser monetary policy grew and investors shunned riskier assets in light of ongoing economic uncertainty.
The yield on 30-year Chinese government bonds hit 2.46% on Thursday, and the 10-year yield dropped to 2.34%, according to data published by China Central Depository and Clearing Co. Ltd. Neither figure had plumbed such lows since at least 2009, available data compiled by economic data provider CEIC show. ?
Stocks?/
China’s securities regulator is tightening its grip on a popular and highly leveraged quantitative trading strategy that is blamed for fueling the recent stock market upheavals.
The China Securities Regulatory Commission (CSRC) in a Tuesday statement promised to gradually reduce the size and leverage of Direct Market Access (DMA), a business model widely used by quantitative funds. The move will help control risks and ensure the stable and healthy operation of the market, the regulator said in the statement.
BUSINESS & TECH
Power?/
Nearly half of the power traded on China’s electricity market in 2023 came from wind and solar plants, doubling from just two years ago, according to an energy expert.
The portion of “new energy”— which refers to wind and solar energy — in the total amount of power traded last year surged to 44%, up from 22% in 2021 and 32% in 2022, according to figures released at an industry seminar held in Beijing on Tuesday. ?
领英推荐
EVs?/
China’s beleaguered premium electric vehicle startup HiPhi is reaching out to the state-owned automotive behemoth Changan Automobile Co. Ltd. as the cash-strapped carmaker faces a ticking clock in its quest for survival.
Ding Lei, the founder of HiPhi, visited the headquarters of Changan Automobile in Chongqing on Feb. 27 and met with chairman Zhu Huarong, Caixin learned.
Cruise?/
Shanghai Waigaoqiao Shipbuilding Co. Ltd., the cruise ship-making subsidiary of state-owned China State Shipbuilding Corp. Ltd., said Wednesday that it has started making the second home-built cruise ship and expects to deliver by the end of 2026.
This ship is scheduled for delivery three years after Waigaoqiao Shipbuilding built China’s first domestically built cruise ship, the Adora Magic City, which embarked on its first commercial voyage on Jan. 1. ?
Quick hits?/
Daily Tech Roundup?/
Long Read?/
GALLERY
Mourners laid out bouquets of flowers and boxes of Wahaha-branded drinks in Hangzhou this week in memory of the beverage giant’s founder, Zong Qinghou. The Wahaha Group chairman’s memorial service took place Wednesday in Hangzhou, East China’s Zhejiang province. Zong died from an illness Sunday at age 79.