Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Corruption / Cover Story: Record river of graft leads to death penalty for one-time water official</li><li>Telecom fraud /: Chinese police issue wanted notices on 10 Myanmar cybercrime ring leaders</li><li>Macro /: China’s top leadership pledges stronger focus on growth next year</li></ul>

Corruption / Cover Story: Record river of graft leads to death penalty for one-time water officialTelecom fraud /: Chinese police issue wanted notices on 10 Myanmar cybercrime ring leadersMacro /: China’s top leadership pledges stronger focus on growth next year

CX Daily: Record River of Graft Leads to Death Penalty for One-Time Water Official 

HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>China's announcement of the third batch of international destinations for the resumption of outbound travel will serve as another important catalyst for the rebound of outbound tourism.</li>
<li>The generally weak performance of tourism-related stocks YTD is unjustified. <a href="https://www.smartkarma.com/entities/fosun-tourism-group" target="_blank" data-smartkarma-citation="entities:27439:1" rel="noopener">Fosun Tourism (1992 HK)</a> and <a href="https://www.smartkarma.com/entities/china-travel-international-investment-hong-kong" target="_blank" data-smartkarma-citation="entities:3879:1" rel="noopener">China Travel International (308 HK)</a> have both issued positive profit alerts for 1H23.</li>
<li>
<a href="https://www.smartkarma.com/entities/air-china-ltd-h" target="_blank" data-smartkarma-citation="entities:8239:1" rel="noopener">Air China Ltd (H) (753 HK)</a> is also an important beneficiary as international passenger capacity recovers. The release of pent-up demand will have positive implications on passenger yield.</li>
</ul>


China's announcement of the third batch of international destinations for the resumption of outbound travel will serve as another important catalyst for the rebound of outbound tourism.
The generally weak performance of tourism-related stocks YTD is unjustified. Fosun Tourism (1992 HK) and China Travel International (308 HK) have both issued positive profit alerts for 1H23.

Air China Ltd (H) (753 HK) is also an important beneficiary as international passenger capacity recovers. The release of pent-up demand will have positive implications on passenger yield.


China Tourism Sector: Anticipating More Upward Strengths

Equity Long-Short

Mo Aziz

<ul>
<li>China is expanding its list of countries allowed to enter visa-free. A good gesture to make China more friendly to foreigners and one step closer to global best practices </li>
<li>Chinese major airlines and airports can become more desirable global aviation hubs, assuming they play their cards right </li>
<li>Doubt much can change in a year, but the seeds are sown for stiffer competition for airlines with a hub-and-spoke strategy in North Asia</li>
</ul>


China is expanding its list of countries allowed to enter visa-free. A good gesture to make China more friendly to foreigners and one step closer to global best practices 
Chinese major airlines and airports can become more desirable global aviation hubs, assuming they play their cards right 
Doubt much can change in a year, but the seeds are sown for stiffer competition for airlines with a hub-and-spoke strategy in North Asia


China to Provide Visa-Free for Six Countries - Why and The (Possible) Impact

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 79.8% as of Aug 21st.</li>
<li>The average A-H premium changed by -3.0ppt week-on-week, led by communication services, utilities, health care.</li>
<li>We highlight weekly changes in A-H premium for Smic, China South Air, Gtht, Yankuang Energy, China Telecom, Haier Smarthome.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 79.8% as of Aug 21st.
The average A-H premium changed by -3.0ppt week-on-week, led by communication services, utilities, health care.
We highlight weekly changes in A-H premium for Smic, China South Air, Gtht, Yankuang Energy, China Telecom, Haier Smarthome.


A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

<ul><li>The number of weekly flights between China and the U.S. will increase again next month, sparking hopes that more supply will put downward pressure on sky-high ticket prices.</li><li>But industry insiders warned that the cost of a ticket won’t drop significantly anytime soon, as low travel demand means American airlines are taking a “cautious” approach to resuming operations.</li><li>From Nov. 9, Chinese carriers will be able to operate 35 weekly round-trips to the U.S., according to a U.S. Department of Transportation order issued Friday. </li></ul>

The number of weekly flights between China and the U.S. will increase again next month, sparking hopes that more supply will put downward pressure on sky-high ticket prices.But industry insiders warned that the cost of a ticket won’t drop significantly anytime soon, as low travel demand means American airlines are taking a “cautious” approach to resuming operations.From Nov. 9, Chinese carriers will be able to operate 35 weekly round-trips to the U.S., according to a U.S. Department of Transportation order issued Friday. 

More China-U.S. Flights Unlikely to Bring Down High Ticket Prices 

China

China Eastern Airlines Corporation Limited operates airline businesses. The Company provides passenger transport, air freight, air catering, and other related services. China Eastern Airlines conducts businesses worldwide.

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China Eastern Airlines Lt (600115 CH)

CX Daily: Record River of Graft Leads to Death Penalty for One-Time Water Official

Corruption / Cover Story: Record river of graft leads to death penalty for one-time water official In a nation of superlatives when it comes to...

Caixin Global

China Tourism Sector: Anticipating More Upward Strengths

China's recent policy to allow visa-free travel for citizens from France, Germany, Italy, the Netherlands, Spain, and Malaysia for up to 15 days...

Osbert Tang, CFA

China to Provide Visa-Free for Six Countries - Why and The (Possible) Impact

China is opening visa-free entry for more countries, aiming to improve its global image and become a preferred aviation hub in North Asia. Could...

Mo Aziz

A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Smic, China South Air, Gtht, Yankuang Energy, China Telecom,...

Ke Yan, CFA, FRM

More China-U.S. Flights Unlikely to Bring Down High Ticket Prices

The number of weekly flights between China and the U. S. will increase again next month, sparking hopes that more supply will put downward...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CX Daily: Record River of Graft Leads to Death Penalty for One-Time Water Official

Corruption / Cover Story: Record river of graft leads to death penalty for one-time water official In a nation of superlatives when it comes to...

Caixin Global

China Tourism Sector: Anticipating More Upward Strengths

China's recent policy to allow visa-free travel for citizens from France, Germany, Italy, the Netherlands, Spain, and Malaysia for up to 15 days...

Osbert Tang, CFA

China to Provide Visa-Free for Six Countries - Why and The (Possible) Impact

​China is opening visa-free entry for more countries, aiming to improve its global image and become a preferred aviation hub in North Asia. Could...

Mo Aziz

A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Smic, China South Air, Gtht, Yankuang Energy, China Telecom,...

Ke Yan, CFA, FRM

More China-U.S. Flights Unlikely to Bring Down High Ticket Prices

The number of weekly flights between China and the U. S. will increase again next month, sparking hopes that more supply will put downward...

Caixin Global

China is opening visa-free entry for more countries, aiming to improve its global image and become a preferred aviation hub in North Asia. Could...