BRIEF: JPMorgan buys major stake in travel site Tongcheng
Fund management major JPMorgan has taken a major stake in online travel site Tongcheng Travel Holdings Ltd. (0780.HK), according to a new disclosure to the Hong Kong Stock Exchange. The…
INDUSTRY BRIEF: Macau’s gaming revenue growth slows in August
Macau's gaming revenue totaled 197.5 billion patacas ($24.55 billion) in August, up 14.8% year-on-year and a 6.2% rise month-on-month, the city’s Gaming Inspection and Coordination Bureauannounced. That brought cumulative gaming…
PODCAST: Endangered Cash Payments, and a TikTok Bid
KFC and others are fined after some of their outlets refuse to take cash. Is cash becoming an endangered species in China? And a group led by former L.A. Dodgers owner Frank McCourt assembles a bid for TikTok's U.S. operations. Will TikTok change its mind and decide to sell?
CHINA BULLETIN: Factories Send Mixed Signals
In this week’s issue mixed manufacturing messages, China stocks in bull territory, and travelers stay closer to home. On a scale of 1 to 100, we give the week a…
Fosun Tourism’s post-Covid holiday fizzles
The resort unit of one of China’s leading conglomerates posted modest growth in the first quarter, as its broader outlook was clouded by debt issues at its parent Key Takeaways:…
PODCAST: A Fitch Downgrade, and New Steps to Bring Back Global Tourists
Fitch has lowered its outlook on China's sovereign rating to "negative," citing economic uncertainty. What does this mean for investors, and what's the likelihood of an actual ratings downgrade? And China has ordered all hotels rated three stars or higher to accept foreign credit cards. Will this help to bring back foreign travelers after three years of Covid isolation?
FAST NEWS: Trip.com annual profit soars on travel rebound
The latest: China’s leading online travel agent Trip.com Group Ltd. (9961.HK; TCOM.US) on Thursday reported its net profit soared more than six-fold to 9.92 billion yuan ($1.38 billion) last year,…
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