Nikkei Asian Review: Ant Group approved US$3 billion ABS financing
A few days ago, Ant Group’s US$20 billion ABS financing was approved. This means that there is no problem with financing through ABS, but it needs to be placed under stronger supervision.
Under regulatory pressure, Ant Group has reduced its sales of ABS products and increased capital. According to the new regulations, Ant Group can issue up to 140 billion yuan of ABS.
Analysts said that it is expected that Ant Group may have to change the way it raises funds for Huabei and Bibai.
Financial Times: Sony threatens to move factories out of Japan
Sony’s CEO Kenichiro Yoshida recently said that if the government’s pressure to reduce emissions is too great, it may move Sony’s factories out of Japan.
Kenichiro Yoshida’s voice was supported by Japanese companies such as Ricoh and Kao.
The Japanese government previously stated that it would achieve a carbon balance in 2050. In fact, many overseas factories of these Japanese companies have turned to renewable energy.
However, in Japan, the price of renewable energy is very high. In addition, most of the factories in Japan that Japanese companies like Sony produce are the most sophisticated products and require a more stable power supply, so the switch to renewable energy is at this stage. It is more difficult to say.
Nikkei Asian Review: Global unicorns break 500, China and the United States account for 70%
With the US-Israeli joint venture cyber security start-up Forter with a valuation of over US$1 billion and becoming the 500th unicorn company, the number of unicorn companies worldwide has also successfully doubled in the past two years.
Among these 500 unicorn companies, the United States continues to lead with 242. China ranked second with 119 companies.
This was followed by 24 in the UK and India, and South Korea ranked sixth with 11. Japan has only 4, ranking 11th.
In 2019, a total of 122 companies made the list, with technology finance and AI companies accounting for 20% and 13% respectively.
This year’s speed has slowed down. So far, only 89 companies have made the list, mainly e-commerce and medical companies.
Bloomberg: China’s industrial profit growth rate reached the highest in nearly 9 years
In October this year, the profit of Chinese industrial enterprises increased by 28.2% year-on-year, reaching the largest increase in the past nine years.
According to the National Bureau of Statistics of China, such a large increase is related to the lower level of the same period last year on the one hand, and the higher investment income in October this year on the other.
In the first 10 months of this year, the profits of state-owned industrial enterprises fell by 7.5%, while the profits of private enterprises rose by 1.1% year-on-year.
As China’s domestic demand increases and exports rebound, profit growth is likely to be maintained.