Previous close | 0.9200 |
Open | 0.9200 |
Bid | 0.1100 |
Ask | 0.5400 |
Strike | 80.00 |
Expiry date | 2024-10-18 |
Day's range | 0.9200 - 0.9200 |
Contract range | N/A |
Volume | |
Open interest | 263 |
Colin Huang Zheng, the 44-year-old founder of PDD Holdings, and Zhang Yiming, the 41-year-old founder of ByteDance, are the richest tech entrepreneurs in China, according to a list published by Chinese magazine New Fortune on Wednesday. Huang, whose wealth is largely derived from the popularity of budget e-commerce platforms Pinduoduo and Temu, has a personal wealth of 425 billion yuan (US$59 billion), followed by Zhang, whose 21 per cent stake in TikTok's parent company gives him a personal net
The Federal Reserve meeting and CPI inflation loom. Oracle soared overnight while the EU hiked tariffs on Chinese EVs.
SHANGHAI (Reuters) -An aggressive market grab by low-cost Chinese retailers has delivered bumper earnings for some firms but has also intensified a bruising price war, exacerbating deflationary fears in the world's second-largest economy. From coffee to cars to clothes, China's discount retailers have cut prices on just about everything as they chase a consumer whose confidence has been battered by a property crisis, high unemployment and a gloomy economic outlook. "If this situation continues, China may end up with what we call a vicious cycle: lower value added consumption, deflation, low profit rates leading to low wages, which further pushes consumers to downgrade their consumption," said He-Ling Shi, an economics professor at Monash University in Melbourne.