2023 Calendar Week 36

Posted on September 4, 2023

1.HUAWEI’s Mate 60 Pro is back on the market after US sanctions

Without any press release, without any launch event, without any rumors, Huawei unexpectedly released its flagship phone Mate 60 Pro on 29th August 2023 at 12:08pm. People, especially tech vloggers rushed to Huawei’s flagship webstore and flagship store in Shenzhen to buy this phone, and soon the phone equipped with Kirin 9000s processor, 5G equivalent speed and satellite call capacity become the most popular topic on social media immediately.

Huawei Mate 60 Pro

On 16th May 2019, the US imposed complete sanctions against Huawei, blocking all loopholes in Huawei’s path to building 5G chips and mobile phones. So, since Huawei depleted their stock in 2020 and released the Mate 40, by the time the Mate 50 was introduced, it had no 5G capability.

Throughout 2021, the company did not release a new Mate phone, and sold out its own Honor brand.

Huawei spent four years developing the “de-US” chip technology, marking a significant victory in the US-China chip war. It is noteworthy that the sale of Huawei Mate 60 Pro is scheduled to coincide with Raimondo’s trip to China.

United States Secretary of Commerce, Gina Raimondo visiting China

So why was it a huge moment for Huawei?

First of all, even though Huawei didn’t announce that the phone is using 5G technology, according to the field tests, the download and upload speed was even faster than 5G Apple phones and after switching off 5G of the network operator, the download speed dropped to 4G equivalent speed. Proving that it is a phone with 5G capabilities.

Second, even though not announced but according to teardown reports by analysis firm TechInsights, and quoted by Reuters, the new Kirin 9000s chip is an advanced 7-nanometer processor made in China by Semiconductor Manufacturing International Corp, indicating a break through for China’s semiconductor industry.

Last but not least, it is also believed that the phone is completed made and based on Chinese technology, while the new satellite call function is not really needed for normal users but for nature explorers this function might come in handy in the mountains or on the sea.

According to Huawei, they are planning to sell more than 7 million units of the Mate 60 series, will we see the return of Huawei phones in the high end market?

2.China’s PMI stabilizing in August at 49.7% but still in contraction

In August, China’s Manufacturing Purchasing Managers’ Index (PMI) was 49.7%, an increase of 0.4 percentage points from the previous month, indicating a continued improvement in the manufacturing sector’s prosperity, though still in contraction.

PMI during the last 12 months

When viewed by company size, the PMI for large enterprises was 50.8%, up 0.5 percentage points from the previous month. The PMI for medium-sized enterprises was 49.6%, up 0.6 percentage points from the previous month. The PMI for small enterprises was 47.7%, up 0.3 percentage points from the previous month.

Looking at the sub-indices that comprise the manufacturing PMI, the production index (51.9%) supplier delivery time index (51.6%) and new orders index (50.2%) were above the threshold, while the raw material inventory index (48.4%), and employment index (48.0%) were below the threshold.

In August, the non-manufacturing business activity index was 51.0%, a decrease of 0.5 percentage points from the previous month.

Non-manufacturing business activity index during the last 12 months

In August, the Composite PMI output index, which reflects the changes in the output in current period of the entire industry (manufacturing and non-manufacturing industries) was 51.3%, an increase of 0.2 percentage points from the previous month.

the Composite PMI output index during the last 12 months

3.Moutai and Luckin hit the market with a co-branded coffee

On 1 September, Luckin Coffee posted a photo on its official Weibo account with the caption “Countdown to 3 days. The annual king bomb, please look forward to”, which is considered a preview of its upcoming collaboration with Maotai.

Based on the poster, it can be confirmed that Luckin Coffee is set to introduce a co-branded 53 degrees coffee product, which is slated to launch on the 4th of September.

Luckincoffee official Weibo account

According to the images that have emerged on the Internet, the cup sleeves and paper bags of the featured products bear an unmistakable Moutai-style branding, with the inscriptions, “The Chinese’s first cup of soy latte” and “Wine and coffee – love this cup”.

Luckin Coffee is very good at launching new products and likes to tie in with seasons, festivals, popular themes and IPs. For instance, its successful product “Bi Luo Zhi Chun” captures the essence of spring and hibernation and other seasonal aspects, together with endorser selection that resonates with the current market, is popular among young demographics and aligns with the theme, achieving exceptional consumer interaction and response.

This time, Moutai (World’s most valuable alcohol stock) and Luckin Coffee (China’s largest coffee chain) collaborated to launch innovative products that combine Chinese liquor and Western coffee. According to the news on 4th September, this initiative indeed become the hotest topic on social media.

4.Beijing, Shanghai and more cities have announced the adoption of the policy of “recognising properties but not the mortgages”

On 1 September, Beijing and Shanghai have officially announced the adoption of the policy of “recognising properties but not the mortgages”.

China’s property market has stagnated since Q2, with a considerable underperformance of first-tier cities. The policy signals are clear and expected to significantly improve market sentiment and expectations, thereby increasing market confidence.

So, which groups will benefit from this policy? How significant will the impact be?

This policy directly benefits two groups of people: firstly, non-residents without a property, and secondly, local “sell one buy one” replacement families. After the policy optimization, the down payment ratio and loan interest rates for two groups of people buying a property again will be greatly improved, while property-related taxes are also expected to be implemented after the first set of this policy is conducive to lowering the threshold of the family to buy a home, reduce the cost of home ownership.

In Shanghai, when the two aforementioned beneficiary groups reapply to buy a home, for example, the down payment ratio will be reduced from 50 to 70 per cent to 35 per cent, and the interest rate on the loan will be reduced from 5.25 per cent to 4.55 per cent. Taking the total price of a house of 5 million yuan (non-general residential property) as an example, following the policy adjustment, the down payment burden of the beneficiary group in Shanghai for purchasing residential property will decrease from 3.5 million yuan to 1.75 million yuan. Additionally, the total loan amount will increase from 1.5 million yuan to 3.75 million yuan.

5.Chinese basketball icon Yi Jianlian has announced his retirement from a 21-year professional career

“Goodbye, my favourite basketball!” Late at night on 29 August, Yi Jianlian, a Chinese men’s basketball player and member of the Guangdong Hongyuan team, posted a message on social media. He announced his official retirement from basketball, bidding farewell to his beloved career.

Yi Jianlian official post on Weibo

Time back 20 years ago to the 2002-03 season of the CBA league, 16-year-old Yi Jianlian made his official debut on the Guangdong men’s basketball team, marking the beginning of a legendary story.

In the third season of his career, Yi Jianlian’s game data was revealed, with an average of 16.8 points and 10.2 rebounds. He quickly cemented his place among the ranks of the league’s outstanding interior players due to his excellent play. As a result, Yi Jianlian was selected for the national team in 2004.

In 2007, Yi Jianlian participated in the NBA draft and got chosen by the Milwaukee Bucks in the first round, ranking 6th overall.

After spending numerous years overseas, he returned to the CBA and assisted the Guangdong Men’s Basketball Team in winning multiple championships.

From Athens to Rio, Yi Jianlian wore the national team’s uniform four times at the Olympic Games. In 2004 and 2008, he helped the team reach the top 8 twice.

Yi Jianlian is a prominent basketball figure in China, expressing his intense passion for the sport in his statement announcing his retirement. He expresses his gratitude for the enriching 21-year journey filled with enthusiasm, happiness, sorrow, remorse, camaraderie, and honourable rivals.

In fact, he brings to the fans a sense of youth and nostalgia, evoking deep memories of a generation’s love for Chinese basketball. His retirement also came at a sensitive time when the national team struggling in the FIBA Basketball World Cup and failed to secure automatic qualification for the Paris 2024 Olympic Games.


Submit a Comment

Your email address will not be published. Required fields are marked *