CX Daily: Are Chinese Solar Giants Flying Too Close to the Sun?
TOP STORIES
Solar?/
China’s solar panel makers, which already account for as much as 95% of global manufacturing capacity, are doubling down on their investment in the booming segment, announcing expansion plans up and down the supply chain.
But with capacity already exceeding demand and on track to balloon by 2030 to far in excess of forecast market requirements, analysts and investors alike are beginning to question whether these plans are justified. ?
ASEAN Summit /
Chinese Premier Li Qiang will arrive in Jakarta Tuesday, kicking off a four-day trip incorporating an official visit to Indonesia and attending a series of regional? meetings aimed at safeguarding “open and inclusive” cooperation in the East and Southeast Asia, according to the Chinese Foreign Ministry.
Those meetings include the 26th summit between China and the Association of Southeast Asian Nations (ASEAN), the 26th ASEAN Plus Three (APT) Summit and the 18th East Asia Summit, according to the ministry. ?
FINANCE & ECONOMY
Stocks?/
China’s securities regulator introduced a monitoring and reporting mechanism for program trading Friday to put the use of computer-generated algorithms in stock trading under closer scrutiny.
Under the guidance of the China Securities Regulatory Commission (CSRC), stock exchanges in Shanghai, Shenzhen and Beijing published rules on program trading and will set up reporting systems to monitor abnormal behaviors. The new rules and mechanism take effect Oct. 9, according to the CSRC.
Index?/
The contribution of high value-added industries such as biomedicine to China’s total economic inputs expanded in August due chiefly to a rise in capital inputs, a Caixin index showed Saturday.
领英推荐
The Caixin BBD New Economy Index (NEI) came in at 30.4 last month, indicating that new economy industries accounted for 30.4% of China’s overall economic input activities. The reading is up from 29.5 in July and marks a second straight month of growth. ?
Quick hits?/
BUSINESS & TECH
Property?/
China’s ailing property sector is hoping for a short-term rebound as developers in the country’s biggest cities race to ramp up sales on looser mortgage requirements laid out in the government’s latest stimulus package — efforts that some analysts warned aren’t enough to revive the overall gloomy sentiment.
In Guangzhou, developers including Poly Developments and Holdings Group Co. Ltd. and China Vanke Co. Ltd. have been promoting the 20% minimum down-payment for first homes as set out by the central government, although the local government has not announced whether it would adopt the ratio.
Quick hits?/
Long Read?/
GALLERY
The Hong Kong movie star bagged one of the most coveted acting prizes in show business, the Golden Lion for Lifetime Achievement award, at the 80th Venice Film Festival on Saturday. Leung has acted in three films that have clinched the Golden Lion: ‘City of Sadness’ by Hsiao-Hsien Hou, ‘Cyclo’ by Anh Hung Tran and ‘Lust, Caution’ by Ang Lee — ‘finally, I can have it (the prize) for myself,’ Leung joked during a press briefing