Fosun Tourism Sees Rebound Just Around the Corner – Again

Owner of Club Med resort chain says business from core tourism operations slumped 42% in first half of 2020, an improvement from 74.5% drop in first quarter Key points: Fosun Tourism’s business continued to drop in the second quarter despite very weak comparisons from the year-ago period Company continues to see rebound coming, with bookings at 86% pre-pandemic levels in the second half of the year By Doug Young Tourism may be staging a nascent comeback as China and the west bring their pandemics under control. But you might have…

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Pandemic Accelerates China’s Drive Into mRNA Treatments

Messenger RNA-based technology that is highly effective in preventing Covid-19 can also be used for treatment of other diseases Key points: High efficacy rates in preventing Covid-19 spark rush by Chinese companies into mRNA vaccines and treatments At least one Chinese-made mRNA Covid vaccine, backed by the military, is now in late-stage development  By Richard Barbarossa They may be late to the party, but that hasn’t stopped China’s drug makers from rushing into messenger RNA (mRNA) drug-making technology, which has won global fame for its use in creating highly effective…

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Investment Bank China Renaissance Is Reborn on First-Quarter IPO Boom

Company’s deal volume rose six-fold in first three months of 2021, as it helped to underwrite Kuaishou’s blockbuster Hong Kong listing (Photo above of Renaissance founder Bao Fan) Key points: China Renaissance has reported a banner first-quarter on an explosion of IPOs by Chinese tech companies The investment bank faces several headwinds, including growing movement by big Wall Street banks into its backyard By Ben Livesey Boutique dealmaker and private equity investor China Renaissance Holdings Ltd. (1911.HK) has been going gangbusters this year. The self-proclaimed one-stop shop for Chinese “new…

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Club Med Owner Fosun Tourism Sees Sunnier Skies, But Investors Unimpressed

Company’s shares sag 5% after it reports business at its tropical Hainan island mega-resort soared 161% in first quarter of 2020 Key takeaways: The latest data from Club Med owner Fosun Tourism provides further evidence of a strong tourism rebound when the pandemic subsides. A selloff of the company’s shares after the announcement reflects investor caution following a recent run-up in the stock By Doug Young Investors are starting to tire of the nonstop stream of optimistic forecasts coming from a global tourism sector that has been one of the…

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