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Bloomberg
2 hours ago
- Bloomberg
BYD's Shenzhen Share Split Could Boost Stock After Retreat
A three-for-one stock split for BYD Co. 's mainland-traded shares could be a positive catalyst for the carmaker after a weeks-long slump. Its Shenzhen-listed stock trades ex-dividend on Tuesday, taking into account a bonus issue and capitalization issue announced in April. This will lower the price for one lot of 100 shares to around 11,000 yuan ($1,532), down from roughly 34,000 yuan per lot on Monday, a potential boon onshore where retail investors are more active. They're also highly sensitive to the minimum amount required to own shares of the company.
New York Post
2 hours ago
- New York Post
Extension of US-China tariff pause ‘likely' – South Korea eager to get trade pact signed, Commerce Secretary Howard Lutnick says
Commerce Secretary Howard Lutnick signaled Monday that the Trump administration appears 'likely' to extend a pause on tariffs with China as trade negotiations continue, while the South Koreans 'really, really want to get a deal done.' 'They're talking right now, but the decision-maker, of course, is President Trump,' Lutnick said of the state of negotiations with China, during an interview with Fox News 'Special Report' host Bret Baier. 3 Lutnick suggested Monday that another 90-day pause on China tariffs seems likely. Ron Sachs/CNP / Washington and Beijing struck a deal in May to pause their raging trade war for 90 days, with the US agreeing to drop its 145% tariff rate on most Chinese goods to 30%, while China lowered its rate to 10% from 125%. The truce is set to expire on Aug. 12. Asked about reports that both sides were seeking to extend the pause, Lutnick indicated that while it appears 'likely,' the decision ultimately rests on Trump. 'I'm sure the people who are speaking with China are going to go discuss with President Trump how he wants to play it,' the commerce secretary said. 'He's got an excellent relationship with [Chinese President Xi Jinping], and I think we'll leave that to Donald Trump to decide.' 'Is that a likely outcome? Sure, it seems that way, but let's leave it to President Trump to decide,' Lutnick said of the potential for another 90-day pause. Lutnick noted that negotiations over the social media app TikTok are 'separate but adjacent' to a potential China deal. TikTok's China-based parent company, ByteDance, has a Sept. 17 deadline to divest the platform's American assets or face a US ban. 3 Lutnick touted Trump's 'excellent relationship' with Xi. REUTERS 3 Trump's 'Liberation Day' tariffs go into effect on Aug. 1. REUTERS Meanwhile, South Korea is eager to reach an agreement on a trade deal before Trump's so-called 'Liberation Day' tariffs go into effect on Aug. 1. 'The South Koreans flew to Scotland to meet with me and [US Trade Representative Jamieson Greer] after dinner,' Lutnick said of his late-night, weekend discussions with South Korea. 'I mean, think about how much they really, really want to get a deal done,' Lutnick added. The Trump Cabinet official argued that the president 'is in the driver's seat now' when it comes to trade deals, and that he expects the commander in chief to 'consider a few deals' before Aug. 1, but that he's focused on deciding what the tariff rates will be for countries that haven't reached agreements with the US. So far, Trump has cut preliminary tariff deals with the UK, Vietnam, Japan, Indonesia, the Philippines and the European Union. The president told reporters on Sunday that he has no intention of delaying the Aug. 1 deadline.
CNBC
2 hours ago
- CNBC
China unveils childcare subsidies in push to boost fertility
China rolled out on Monday an annual childcare subsidy of 3,600 yuan (about $500) until age three, as authorities look to spur a flagging birth rate with fewer young people choosing to have children. The high cost of childcare and education, as well as job uncertainty and a slowing economy, are among the concerns that have discouraged many young Chinese from getting married and starting a family. Subsidies will start from this year, with partial subsidies for children under three born prior to 2025, in a policy expected to benefit more than 20 million families of toddlers and infants, the official Xinhua news agency said. The plan is an "important national livelihood policy," and direct cash subsidies would help "reduce the cost of family childbirth and parenting", the National Health Commission said. Demographers and economists said while the move was positive, the amount was likely to small to incentivise people to have children. China's population fell for a third consecutive year in 2024, with experts warning of a worsening downturn, after decades of falling birth rates following a one-child policy adopted from 1980 to 2015, coupled with rapid urbanisation. In the past two years, provinces nationwide have started handing out childcare subsidies in amounts that vary considerably, from 1,000 yuan a child to up to 100,000 yuan, including housing subsidies. The central government will fund the new national policy instead of local authorities, Xinhua said. Authorities are expected to announce more details on Wednesday. Zichun Huang, China Economist at Capital Economics, said the sums involved were too small to have a near-term impact on the birth rate or consumption. "But the policy does mark a major milestone in terms of direct handouts to households and could lay the groundwork for more fiscal transfers in future." Citi Research estimates a total lump-sum payout of 117 billion yuan in the second half of this year through the plan, saying the scheme is more meaningful as a consumption policy than as a population policy. "As a population policy, it remains to be seen whether the national program can move the needle on fertility rate," the research house said in a note. Authorities in China unfurled a series of "fertility-friendly" measures in 2024 to tackle the coming decade's challenge of the entry into retirement of roughly 300 million people, equivalent to almost the entire U.S. population. A nationwide scheme may offer some coordination and signal greater central commitment, said demographer Emma Zang, a professor at Yale University, but called for greater efforts. "Without sustained structural investment in areas like affordable childcare, parental leave, and job protections for women, the effect on fertility is likely to remain minimal," she added.
