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Bottom line: Google's launch of a China AI lab marks the latest step in its campaign to curry favor with Beijing, which could give it a 50-50 chance of being allowed to sell its Pixel phones and open a China Google Play store in 2018.
Google's China return like watching grass grow
Chronicling Google's (Nasdaq: GOOG) slow march back to China has been a bit like watching grass grow these days. It's been a painfully slow process, including the latest announcement that the company will open an artificial intelligence (AI) lab here in Beijing.  Put more cyn......
姜雅玲

【一】付费新闻的 “天价” 真的让人负担不起吗?

姜雅玲 12月12日

现为双语撰稿人、口译,Impact Hub 上海创始成员。

这是我计划推出的【新闻小白外参】系列第一篇,每月更新。付费新闻的推行难度高不在于价格,而是人们内心的门槛——你同意吗?
今早伴着阴沉的天气,在上班路上听 BBC Radio 4 的媒体评论节目 The Media Show,听到来自 FT 主编一段刺耳但真实的言论:I see young people with their 2.20 Cappuccino, latte or whatever from Starbucks, and then holding the Metro(地铁站和巴士上的免费报纸). They are willing to pay for good coffee, but they are not willing to pay for good journalism. 
长着一副八卦小报脸的 Metro 现为英国发行量最大的报纸
先插两句闲话:主编大人显然不买星巴克咖啡(好样的),不......
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Bottom line: Alibaba's plan to roll out 2,000 of its high-tech Hema grocery stores looks overly aggressive but typical for the company, and could prove costly if the concept fails to catch on.
Alibaba has big plans for Hema
E-commerce giant Alibaba (NYSE: BABA) is pretty much a carbon copy of its founder Jack Ma when it comes to standing still, in that the concept is completely foreign to both. I've been critical of the company in the past for getting into too many things too quickly without a coherent big-picture plan, and that's what seems to be happening onc......
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INTERNET: Twitter Tweets Indecisively Around China

阳歌 12月08日

财新传媒英文部编辑

Bottom line: Twitter's conservative approach to China reflects a broader indecision at the company that is limiting its growth potential.
Twitter shackled by indecision in China
While social networking giant Facebook (Nasdaq: FB) actively flirts with China in a bid to enter the world's largest Internet market, the smaller, struggling Twitter (NYSE: TWTR) seems unable to make up its mind. That seems to be the key takeaway from a new interview on the prickly subject of China between Maya Hari, Twitter's Asia Pacific chief, and Caixin, a well-respec......
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SMARTPHONES: Xiaomi Eyes IPO, Gets Setback in Europe

阳歌 12月06日

财新传媒英文部编辑

Bottom line: Xiaomi's growing comeback is giving it confidence to launch an IPO plan, as its loss of a trademark case in Europe highlights renewed obstacles it will face in its global expansion.
Xiaomi eyes Hong Kong IPO
Comeback kid smartphone maker Xiaomi is in a couple of headlines as we reach the middle of the week, including one that highlights its return to growth and another that shows the obstacles it will face as it continues with its global expansion. The first headline has media reporting that Xiaomi is planning an IPO as early as next year, as its sagg......
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Bottom line: Attendance of Google's CEO at China's premier Internet event marks a continuation of its slow return to China, while appearances by top Apple, Qualcomm and Microsoft executives are more expected.
Western tech execs hobnob at Internet conference
As we head into the new week, the headlines are filled with the latest words of wisdom on the future of the Internet from some of China's leading company chiefs, who were all in the scenic city of Wuzhen for a major conference that kicked off over the weekend. But equally interesting were the guest list of foreign big......
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TELECOMS: 5G Buzzes Early Into China

阳歌 12月01日

财新传媒英文部编辑

Bottom line: A bevy of signals from Beijing indicate China will roll out 5G networks around 2020, in step with major Western markets, providing a boon for telcos, equipment sellers and Internet companies.
China gets serious on 5G
After years of watching China following years behind the West in rolling out its next-generation wireless networks, there are growing signs that the country intends to be a leader rather than a laggard with upcoming 5G service. The latest signal in that drive is coming from the country's state planner, which has just announced that five or more cit......
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BUYOUTS: eHi Prepares to Drive Off, Jumei Bid Unravels

阳歌 11月29日

财新传媒英文部编辑

Bottom line: A third-party buyout offer for eHi could presage a wave of similar new bids for undervalued, profitable Chinese companies, while withdrawal of Jumei's buyout bid could be followed by a new, lower offer.
eHi gets buyout offer
After a period of relative quiet, the privatization wave that swept US-listed Chinese companies nearly two years ago is bubbling back into the headlines with a couple of stories from different directions. In the "leaving" direction there's car rental comp eHi Car Services (NYSE: EHIC), which has received a third-party off......
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INTERNET: Tencent Rockets Up Global Tech Value Charts

阳歌 11月23日

财新传媒英文部编辑

Bottom line: Tencent and Alibaba stocks have become overvalued at current levels compared with global peers, and are due for a pullback of up to 30 percent in 2018.
Tencent looks frothy at current levels
Much ado is being made about the meteoric rise in value for Tencent (HKEx: 700), the Chinese social media giant that is now neck-and-neck with global heavyweight Facebook (Nasdaq: FB). Specifically, the pair now boast nearly identical market values in the $520-$530 billion range, which one report points out is larger than the entire GDP of Taiwan. That makes them......
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FINANCE: Fintechs Sink on Regulatory Crackdown

阳歌 11月22日

财新传媒英文部编辑

Bottom line: A new crackdown on microlenders could put a slight damper on their growth, but is unlikely to affect them significantly next year unless China experiences a bad debt crisis.
Beijing clamps down on microlenders
Word that China will clamp down on the nation's thriving field of online microlenders is sending a chill through the sector, as many predict new moves could severely slow down their breakneck growth. The newly-announced crackdown is only aimed at new microlenders, at least for now, with word that the central government has ordered all provinces to immediately ......
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Bottom line: Alibaba's new investment in grocery operator Sun Art looks like a shrewd move into an area where logical synergies between online and offline shopping can be achieved.
Alibaba buys into Sun Art
After a period of relative quiet, e-commerce giant Alibaba (NYSE: BABA) is splashing back into the major M&A headlines with its purchase of a major stake in grocery retailer Sun Art (HK: 6808) for HK$22.4 billion ($2.9 billion). This particular deal looks strikingly similar to an earlier tie-up between Alibaba's archrival JD.com (Nasdaq: ......
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IPOs: Sogou Makes It to Market, But Will It Excite?

阳歌 11月10日

财新传媒英文部编辑

Bottom line: Sogou is unlikely to shed its position as a second-tier search engine anytime soon, despite its ties to Tencent ties, and its stock is also unlikely to be a strong performer over the next 2-3 years.
Sogou pops on debut, but will it hold?
After writing about up-and-coming hot new names like Qudian (NYSE: QD) and ZhongAn Insurance (HKEx: 6060) making blockbuster IPOs over these last few weeks, it feels a bit like going back to the future by writing today about a new listing for search engine Sogou (NYSE: SOGO). The fact of the matter is that ......
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Bottom line: The intensifying spat between Sina and a dissident shareholder is likely to ultimately cool down without any legal action, and could see the addition of 1-2 new independent directors to its board.
Sina-Aristeia tussle headed for court?
The battle for reform at Internet stalwart Sina (Nasdaq: SINA) has taken a somewhat nasty twist, with a dissident shareholder threatening legal or other action following a power play by longtime CEO Charles Chao to deprive minority shareholders of influencing the company through use of the ballot box. This particular move doesn&......
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Bottom line: The wave of strong sentiment for new offshore IPOs by Chinese companies is running out of steam, but listings before year-end could still get a slight left, especially fintechs.
Hexindai jumps on trading debut
Fintech is hot, and just about everything else is not. That appears to be the message with the latest offshore IPO by a Chinese firm, this time from Hexindai (Nasdaq: HX), a peer-to-peer (P2P) lender that takes in money from small investors and then lends it out to borrowers. Hexindai's shares initially soared as much as 70 percent in their trading d......
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Bottom line: Apple should be able to extend its return to growth in China into at least one more quarter, while Xiaomi should also be able to continue posting strong double-digit growth for the next year.
Apple returns to China growth
Apple (Nasdaq: AAPL) has just released its latest quarterly results that show China is back on a growth track, quieting skeptics who had said its latest iPhone was debuting to mostly snoozes in the world's largest smartphone market. On a broader basis, IDC has also just announced its global figures for third-quarter smartphone sales, show......
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NEW ENERGY: Tesla Takes Its Time With China Plant

阳歌 11月02日

财新传媒英文部编辑

Bottom line: Tesla's announcement that its China plant is three years away puts a clear and realistic timeline on its intentions, which include strong growth in the market banking on supportive policies by Beijing.
Tesla gets realistic about China car production
Anyone who was hoping that electric car superstar Tesla (Nasdaq: TSLA) would start cranking out its products in China anytime soon will have to think again. Founder and celebrity CEO Elon Musk has poured cold water on all the speculation about his company imminently building a China manufacturing base by saying......
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Bottom line: Whatsapp has likely been permanently blocked in China, while Satya Nadella's visit to Xiaomi underscores Microsoft's growing ties  with the company, and Google's China AI push is mostly PR.
Whatsapp booted from China?
A couple of the big high-tech multinationals are in the headlines as we head into the next-to-last month of the year, which seems like a good opportunity to review where these companies stand heading into the second term of President Xi Jinping and also as Donald Trump gets set to make his first China visit. One of those headlines involves......
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INTERNET: Shares Rides See Merger, Fund-Raising, Shutdown

阳歌 10月25日

财新传媒英文部编辑

Bottom line: A merged company combining Youon and Haluo could emerge as a strong regional shared bike company, while Shouqi could likewise emerge as a strong regional player in the private car services space.
Shouqi raises new money
China's shared ride space has been on a turbulent ride of its own this past year, as billions of investor dollars flooded into a sector with big but also limited potential. The result has been the typical bloody battle for market share, which is starting to result in a trickle of mergers, closures and even one new fund-raising in the latest headlines......
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Bottom line: The strong debut for Rise Education reflects good investor appetite for new China concept stocks in New York, which should bode well for a new listing by Jianpu and could also buoy iClick.
Jianpu, iClick file for NY listings
The IPO floodgates are opening wider following the hugely successful listings of microlender Qudian (NYSE: QD) in New York last week and the Hong Kong listing of online insurance provider ZhongAn (HKEx: 6060) shortly before that. Those two nice debuts may be partly behind an equally impressive launch for Rise (Nasd......
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SMARTPHONES: Coolpad Finds New Suitor, As LeEco Retreats

阳歌 10月19日

财新传媒英文部编辑

Bottom line: LeEco is likely to sell its stake in Coolpad in the next six months, and new investor Centralcon could emerge as the buyer with a goal of trying to turn the company around.
Coolpad finds new suitor
A potential white knight has stepped forward to provide some funds for struggling smartphone maker Coolpad (HKEx: 2369), in a fresh sign that controlling stakeholder LeEco (Shenzhen: 300104) may be preparing to dump the company as part of its protracted reorganization. The amount of the fund-raising is relatively small at HK$582 million ($75 million),......

精彩评论

陈酿老久 实朴

原文:还乡琐记:草木叩门 生活继续

吴春波H-R “乡田同井,出入相望,守望互助,疾病相持”,已成追忆。

原文:还乡琐记:草木叩门 生活继续

小胖子真不瘦 风口浪尖上的传奇人物!如果你就这样被打败,那你就真的太失败了,但是我相信你不是这种人,期待你东山再起的那天。

原文:回来吧,贾跃亭

lulud 创业英雄还是欺诈惯犯

原文:回来吧,贾跃亭

zhangmingxiao 川普执政一百多天,初见端倪

原文:商人治国成笑柄

孙越 史上有很多传奇,更有很多英雄,他们的死彰显生命的价值。

原文:对外侦察局的掏心猎手

zhangmingxiao 这个不是一起超售事件,是美联航因为内部员工需要乘坐飞机,旅客满员的情况下利用超售这个工具来达到赶下旅客的目的。

原文:美联航赶乘客下飞机 资深机长告诉你是否违规

郭杰群 在美国,地产开发商将出售资产所得在一定期限内进行类似房产的再投资可以享受一定的免税条款。这在我国当前还不具备,因此在一定程度上制约了地产商的能动性。

原文:REIT的海外发展及启示

Lypsey3543 “据个人了解,中国一线城市住宅投资收益率不会高于3,美国可以达到6。”作者这里说的应是租金收益率。首先,因(特大)人口增长加速,在新兴市场投资房产,主要看资本利得,动态租金收益要会延后实现,静态比较同期没有太大意义。其次,物业年均持有成本,纽约和中国一线城市不可比。第三,纽约和曼哈顿是两个概念。离开曼岛,租金中位数值完全是不是一个档次。而中国一线城市的租金上涨范围更大。因为仍处于成长期。总体而言,虽然在中美两国都投资的是房产,但从收益分布特征和波动率来说,完全可以看作是差别极大的两类资产。就如同高等级债券和蓝筹股票,横比收益没有意义,因为后者大幅超越。归根结底更可能是风险偏好异质性(含Demographic factors)和经济周期所处阶段决定了投资者更偏爱哪一类。

原文:2017年美国房地产市场展望——美国市场、中国视角

王争春 价格和土地供给的问题,我们慢慢谈。市场有垄断市场、寡头市场和竞争市场,定价规则自然有差异。

原文:面对房价,教科书自焚吗?经济规律笑了

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