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South China Morning Post
4 days ago
- Business
- South China Morning Post
China rolls out mandatory safety regulations for power banks after fire incidents
China has introduced new regulations requiring makers of lithium-ion battery packs to obtain a mandatory quality and security certificate, a move that comes after the demise of a major power bank brand amid a string of fire incidents caused by faulty products. Starting Friday, power banks must carry a China Compulsory Certification (CCC), or 3C certificate, before they can be sold, distributed or produced in China, according to the State Administration for Market Regulation. While the regulation is not an outright ban on the use of power banks that do not have the certificate, it could mean that their use in public vehicles or even public venues could be prohibited. China's civil aviation administration has already banned such power banks on domestic flights. On e-commerce platforms such as Taobao, owned by Alibaba Group Holding, searches for power banks now showcase results with 3C in the description. A popular search term is 'power banks I can bring on the plane'. Alibaba owns the South China Morning Post. Shenzhen-based Romoss Technology suspended production last month after it was linked to multiple instances of combustible power banks. Photo: Handout China has for some time been issuing 3C certificates, but they have not been mandatory until now. The lack of compulsory quality and safety checks was seen as one cause of multiple fire incidents linked to power banks.
Yahoo
23-07-2025
- Business
- Yahoo
Synopsys Buy of Ansys Gets China OK. The $35 Billion Deal Is Set to Close.
The software companies were awaiting clearance from China's State Administration for Market Regulation. Sign in to access your portfolio
Forbes
18-07-2025
- Business
- Forbes
China Market Update: Hong Kong Higher, Regulators Comment On Instant Commerce, Week In Review
CLN Asian equities ended the week largely higher overnight, as Hong Kong and Australia outperformed, while India underperformed. Positive momentum is driving the Hang Seng, Hang Seng Tech, Shanghai, and Shenzhen indexes higher as growth stocks and subsectors outperformed. Hong Kong was led higher by Alibaba, which gained +2.93%, Tencent, which gained +0.39%, Xiaomi, which gained +1.51%, and Meituan, which gained +1.43%. It was a broad rally as electric vehicles did well, including NIO, which gained +4.63% on its new model release, BYD, which gained +2.1%, and CATL gained +5.61%. Nonferrous metals, oil, insurance, and technology hardware also had positive performance. The most important news came out after the close as the State Administration for Market Regulation (SAMR) announced that it had 'carried out administrative interviews and required takeaway platform enterprises to compete rationally'. SAMR met with which is owned by Alibaba, Meituan, and The agency urged the companies to 'strictly abide by the laws and regulations such as the e-commerce law' and the Anti-Unfair Competition Law. UBS is predicting the restaurant delivery war between Alibaba, Meituan, and will peak in August. The consequence will be higher revenue year-over-year (YoY) in Q2 financial results, though net income is going to plunge, as Meituan's net income is predicted to fall by -27% YoY, Alibaba -5% YoY, and -42% YoY. Mainland investors bought a net $755 million worth of Hong Kong-listed stocks and ETFs today via Southbound Stock Connect. Southbound Stock Connect volume as a percentage of Hong Kong turnover has declined indicating that maybe, just maybe, foreign investors are starting to notice the rally. A US-China trade deal would be a significant catalyst, in my opinion. Mainland China had a good day as healthcare stocks kept their positive momentum, along with beverages, non-ferrous metals, and the chemical industry. The Ministry of Industry and Information Technology (MIIT) held a press conference focused on ten industries' growth and 'adjusting structure, optimizing supply and eliminating backward production capacity.' Industries in focus include steel, non-ferrous metals, petrochemicals, and building materials. AI, along with copper, aluminum, and gold, were cited as focus areas as well. The South China Morning Post wrote today that some speculate further 'anti-involution' policy direction could come from the month-end Politburo meeting, though we do not know the exact date yet. Nvidia's Jensen Huang met with the Ministry of Commerce's Wang Wentao on the China AI opportunity. Huang also met with the founder of privately-held AI startup Minimax, a private company valued at $4B based on recent financing details, Yan Junjie. Unitree Robotics, known officially as Hangzhou Yushu Technology, filed paperwork with the CSRC, indicating a path to an IPO that revealed founder Wang Xingxing owns 23.8% of the company. The National Development and Reform Commission (NDRC) held a press conference on incentivizing foreign companies to invest in China, with an emphasis on capital markets. The People's Bank of China (PBOC), China's central bank, will release its decision on the Loan Prime Rate (LPR), which helps set mortgage rates, on Monday, though most expect no change at this time. Live Webinar Join us on Tuesday, July 22, 10:00 am EDT for: China Mid-Year Outlook: Trade Deal Loading, Consumption & Innovation Locked In Please click here to register New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read 1 Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
Argaam
26-06-2025
- Business
- Argaam
Tadawul cancels outstanding orders amid tick size changes
The Saudi Exchange (Tadawul) canceled today, June 26, all outstanding orders after market close to prepare for upcoming changes to price tick size bands on the Main Market (TASI) and Nomu-Parallel Market.
Reuters
25-06-2025
- Business
- Reuters
LME's new position rules reflect a changed metals landscape
LONDON, June 25 (Reuters) - The London Metal Exchange's (LME) move to tighten the regulatory screws on long position holders comes at a time of turmoil in both aluminium and copper contracts. Traders have been scaling up bets even as LME warehouse inventory has been depleting, generating acute stress in the exchange's unique date structure. But it's no coincidence that it's these two contracts that have been most roiled. Both copper and aluminium physical markets have been massively distorted by tariffs and sanctions respectively. Having just emerged from its 2022 nickel debacle, the LME is understandably keen to avoid a new crisis and since it can't do much about either tariffs or sanctions, managing the consequences is its best bet. The danger as ever with this 148-year old market is that tweaking such a complex ecosystem causes unforeseen consequences. This week's upheaval in the copper market bears all the hallmarks of a mega clash of positions on the cash date. The "tom-next" spread, which is an overnight position roll, flared out to a backwardation of $69 per metric ton on Monday. That helped inflate the backwardation across the cash-to-three-months period to $397 per ton, the widest since 2021. One entity had bulked up on cash positions to the tune of 80-90% of available stocks coming into the week and whoever it is will be subject to the exchange's automatic lending rules. These are intended to prevent anyone cornering the market with positions so dominant they distort prices. The new rules introduced on Friday by the LME's special committee extend those lending caps beyond the cash date through the next monthly prompt. They are, for now at least, temporary. This follows the recent squeeze in the aluminium market, which was focused not on the LME's rolling cash date but on the June monthly prompt date. But it's clearly not the only mega long position that has given LME senior management cause for concern. There have been "a number of occasions" of significant positions in nearby prompt dates and the special committee has "at times" directed holders to reduce them "relative to prevailing stock levels," the LME said. And there's the rub. There's not much stock of either copper or aluminium. LME copper stocks have shrunk by 65% to 94,675 tons since the start of 2025 with the amount of available tonnage at a two-year low of 54,525 tons. This is not due to diminished global availability but rather reflects a massive redistribution of global inventory. Ever since U.S. President Donald Trump launched a so-called Section 232 national security investigation into U.S. copper imports in February, physical metal has been flowing to the United States to capitalise on the premium commanded by the CME's U.S. customs-cleared copper contract over the LME's international product. U.S. imports of refined copper jumped to more than 200,000 tons in April, the highest monthly arrival rate this decade. LME warehouses have been stripped to feed this physical tariff trade. CME stocks, on the other hand, have more than doubled this year to 184,464 tons, the highest they've been since August 2018. While the prospect of U.S. tariffs has upended global copper flows, those of aluminium have been fractured by sanctions on Russian metal. When the United States and Britain announced sanctions on Russian producer Rusal in April 2024, the LME suspended all deliveries of Russian aluminium produced after that date. Russian metal already in the LME system could continue trading but clearly wasn't as desirable as other brands. There have been sporadic dog-fights over available non-Russian stocks ever since, each involving large positions and spread turbulence. But the net result is that LME aluminium stocks are now at their lowest point since October 2022. Most of the stock awaiting physical load-out has departed and most of what remains is Russian metal. There is no sign of any imminent replenishment. LME off-warrant stocks, which often rise when visible inventory falls as metal is re-directed to cheaper warehouse deals, are also down on the start of the year. There have been no significant fresh deliveries onto LME warrant since March. The Russian liquidity tap has been dry since last year and holders of other brands are likely reluctant to lose them in the LME clearing. In the case of both copper and aluminium, the efficiency of the LME's global delivery function relies on the existence of a globally fluid physical supply chain that simply isn't there right now. The LME's lending guidance has always faced criticism for favouring short position holders over longs. Extending the lending restrictions on dominant long positions across the front month of the curve naturally skews the regulatory focus further. It's worth remembering that it was a dominant short not a dominant long that caused the 2022 nickel blow-out. But given the growing mismatch between position size and available inventory, the LME is doubling down on precedence to try and avert another crisis. The problem is that smoothing out what the LME deems distortions in the exchange's price-setting function may reduce the financial incentive for metal to be delivered to what is supposed to be the market of last resort. Assuming, of course, it's neither Russian aluminium nor copper on its way to the United States. The opinions expressed here are those of the author, a columnist for Reuters
