Noriyuki Doi

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Articles

China sees investment rush in bendable solar panels

Sep 19, 2024 | asia.nikkei.com | Noriyuki Doi

JIANGSU PROVINCE, China -- An investment boom is taking place in China for perovskite, the light and flexible solar cell technology developed in Japan, with startups building factories and working towards mass production with the hope of grabbing a large piece of the new market. The startup UtmoLight is nearing completion of a 3 billion yuan ($424 million) plant in Wuxi, Jiangsu province, that the company says will be the world's first gigawatt-class production site for perovskite solar cells.
Alibaba fintech arm Ant Group buys Chinese health platform HaoDF

Sep 13, 2024 | asia.nikkei.com | Noriyuki Doi

SHANGHAI -- Ant Group, a fintech heavyweight backed by Chinese e-commerce conglomerate Alibaba Group Holding, has completed the takeover of Chinese online health care platform Haodf.com, filings revealed Friday show. As of Wednesday, an Ant affiliate became the full owner of HaoDF's operating company, according to Chinese registry data. HaoDF founder Wang Hang is no longer a shareholder in the company.
Alibaba's Hong Kong listing upgrade set to spur China money outflows

Sep 6, 2024 | asia.nikkei.com | Kensaku Ihara |Noriyuki Doi |Tomoko Wakasugi

HONG KONG/SHANGHAI -- Mainland China investors have been buying Hong Kong equities at a record pace, and the inclusion of Alibaba Group Holding in the Hong Kong Stock Connect program is expected to quicken the capital outflows. The Chinese tech group on Aug. 28 upgraded to a primary listing on the Hong Kong market, a step toward being eligible for Stock Connect, which lets investors in Hong Kong, Shanghai and Shenzhen trade designated shares listed in each other's markets.
Yuan carry trade dims amid U.S. rate cut expectations

Aug 30, 2024 | asia.nikkei.com | Noriyuki Doi |Kensaku Ihara

SHANGHAI/HONG KONG -- The previously booming yuan carry trade is coming to a turning point with an anticipated U.S. interest rate cut expected to add to the unwinding triggered by early August's plunge in Japanese equities. The yuan strengthened to 7.0825 to the dollar in intraday trading Friday in Shanghai, a level last seen in June 2023. It appreciated by more than 0.13 to the greenback in August alone -- its largest monthly gain in nine months -- rebounding from late July's lows.
China central bank fears Silicon Valley Bank redux as yields sink

Aug 26, 2024 | asia.nikkei.com | Noriyuki Doi

SHANGHAI -- As long-term government bond yields in China hover near a record low, authorities are scrambling to head off a bubble in the market that could put banks at risk, with limited success so far. The People's Bank of China worries about a bubble in government bond prices that could eventually burst, causing yields to rebound and banks to suffer losses.
China tells companies to put worker reps in boardrooms

Jul 29, 2024 | asia.nikkei.com | Noriyuki Doi

SHANGHAI -- China is requiring big companies to guarantee worker representation in boardrooms as part of President Xi Jinping's push for "common prosperity."Under China's amended company law, which took effect July 1, limited liability companies that employ 300 or more people must have an employee representative on the board, unless they have a separate supervisory board with employee representation.
Saudi ETFs surge in China debut as financial ties deepen

Jul 16, 2024 | asia.nikkei.com | Noriyuki Doi

SHANGHAI -- Two Saudi Arabian exchange-traded funds made a strong market debut in mainland China on Tuesday as investors snapped up the instruments on the first day amid strong financial ties between the two countries. The two Chinese-managed ETFs, which launched on both the Shanghai and Shenzhen exchanges, are the first for Saudi stock funds in mainland China. They track major Saudi businesses like Saudi Aramco, one of the world's biggest oil companies.
China central bank to borrow government bonds, with sale seen possible

Jul 1, 2024 | asia.nikkei.com | Noriyuki Doi

SHANGHAI -- The People's Bank of China said Monday it will start borrowing Chinese government bonds soon, a move seen as a step toward selling them to stabilize an overheating market. "In order to maintain the sound operation of the bond market, the People's Bank of China (PBOC) decided to borrow China government bonds from primary dealers of open market operations in the coming period, based on prudent observation and assessment of the current market situation," the central bank said.
China's Fosun to sell Hokkaido ski resort for $250m

Jul 1, 2024 | asia.nikkei.com | Noriyuki Doi

SHANGHAI -- Chinese conglomerate Fosun International will sell Hoshino Resorts Tomamu, a ski resort in Japan, for 40.8 billion yen ($252 million), according to plans announced Monday, as the group sheds nonstrategic assets in the face of a slumping property market in China. A 99.998% stake in Tokyo-based Shinsetsu, a Fosun unit holding Hoshino Resorts Tomamu as its main asset, will be sold to limited liability company YCH16.
China RV market booms as vacationers embrace the great outdoors

Jun 22, 2024 | asia.nikkei.com | Noriyuki Doi

SHANGHAI -- Chinese people are hitting the road in recreational vehicles in greater numbers as young outdoorsy types and retirees alike embrace the freedom and convenience of nomadic travel life. Zhang Shihua, a 76-year-old retiree who has been traveling in an RV with his wife, is one such RV enthusiast.