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Factbox-China's new political elites and their connection to Xi
October 24, 2022 7:42 AM EDTBy Yew Lun Tian
BEIJING (Reuters) - Xi Jinping on Sunday secured a third term as leader of China's ruling Communist Party and unveiled a new leadership team dominated by his allies, including the entire seven-member Politburo Standing Committee, which he heads.
Most of the wider Politburo, made up of 24 members, all of them men, also have some sort of connection to Xi.
Since coming to power in 2012, Xi has promoted numerous people who worked for or with him when he held various senior roles in Shanghai and the provinces of Fujian and Zhejiang.
Former... More
China ADRs tumble as Xi's new team sparks worries over economy's path
October 24, 2022 5:59 AM EDTBy Medha Singh
(Reuters) -U.S.-listed shares of Chinese companies slumped on Monday after President Xi Jinping's new leadership team sparked investor concerns that ideology-driven policies would be prioritized at the cost of private sector growth.
Ecommerce giants Alibaba, JD.com as well as internet behemoth Baidu crashed between 14% and 17%, even as the benchmark S&P 500 edged higher.
The iShares MSCI China ETF tanked 10%, tracking its steepest one-day drop ever.
"The concern... More
iShares China Large-Cap (FXI) option IV into China’s Xi expands power as head of China’s ruling power
October 24, 2022 5:16 AM EDTiShares China Large-Cap (NYSE: FXI) 30-day option implied is at 42; compared to its 52-week range of 23 to 55 into Chinas Xi expands power as head of Chinas ruling power.
... More