Ping An Insurance Group Co (2318.HK )

China's largest insurer by market value, said it has applied to the Hong Kong Stock Exchange for a dual currency counter. The addition of a Renminbi counter will enable investors to trade the company's shares in the yuan, in addition to the Hong Kong dollar.

Late last year, the Hong Kong Stock Exchange said it would introduce a new dual counter trading model from the first half of 2023 where investors would be able to interchange securities listed in both Hong Kong dollars and renminbi counters.

"The dual counter model will offer a new choice of trading currency and the opportunity to potentially tap into more liquidity for the shareholders of the Company and potential investors," Ping An Insurance said in an exchange filing.

China Mobile Ltd (941.HK)

Chinese state-owned telecom firms are developing a US$500m undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar U.S.-backed project. The plan is a sign that an intensifying tech war between Beijing and Washington risks tearing the fabric of the internet.

China's three main carriers; China Telecommunications Corporation, China Mobile Limited and China United Network Communications Group Co Ltd are mapping out one of the world's most advanced and far-reaching subsea cable networks, according to the people, who have direct knowledge of the plan.

Lenovo Group Ltd (992.HK)

Chinese tech heavyweight Lenovo Group Ltd said it will step up efforts to accelerate its service-oriented transformation and fully promote technology-driven innovation.

Yang Yuanqing, chairman of Lenovo, said the company aims to grow its personal computer business at a growth rate that outpaces the overall industry growth and maintain industryleading profitability in its new fiscal year.

While the industry faces significant macroeconomic pressures, Lenovo said it sees long-term opportunities ahead as the global trends of digitalization and intelligent transformation continue accelerating and IT spending is expected to recover to a moderate growth rate in the mid-to long-term.

Meituan (3690.HK)

Meituan's long-awaited food delivery service launch in Hong Kong appears to be just around the corner. The battle of the food delivery market in Hong Kong goes on and is heating up, with dominance by Deliveroo and Foodpanda.

Meituan is gearing up to enter the Hong Kong market, and it will come into action by 1H2023 or even sooner and the company has been proactively while silently establishing its food delivery business in Hong Kong.

According to Sing Tao Daily, Meituan has confirmed that it will launch a brand new, standalone food delivery brand in Hong Kong, with tailored products and services that cater specifically to local markets.

Tencent Holdings Ltd (700.HK)

Douyin, the Chinese equivalent of TikTok, and Tencent announced a new agreement aimed at exploring the joint promotion of short and long videos. This marks a significant step towards reconciliation between the two tech giants, who have been embroiled in copyright disputes for years. The agreement will see Douyin and Tencent Video collaborating on a range of areas, including the joint promotion of long and short videos and the generation of secondary content.

The agreement between Douyin and Tencent will allow users to create more diverse content and could potentially attract more users to both platforms. This is a significant development in the ongoing battle for dominance in China’s video-sharing market.

Source: Rakuten Research - 12 Apr 2023

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