BitMain ‘s co-founder and co-CEO Micree Zhan is a low profile billionaire with a net worth of around $4 billion dollars. Forbes reported Zhan’s fortune by applying the price to sales ratios in comparison with other crypto company’s like Nvidia, AMD, Qualcomm, and Cisco.
Based on recent stock market figures, the Chinese stock market is facing quite a downturn. However, steel prices are still on the rise. Many market analysts say that this is a positive sign that shows just how resilient the world’s second largest economy is.
The bitter trade war between two of the world’s largest economies have caused some countries to be wary. As the trade war between China and the United States continues to escalate the European Union is converging in order to protect the World Trade Organization (WTO).
The bitter trade war between China and the United States have caused some industrial metal prices to fall. The most recent to fall victim to this trade tension is copper which lost its ground on Tuesday. Trade forecasts reveal that copper is set to fall for three out of the possible four sessions.
Russian Defense Minister Sergei Shoigu revealed on Tuesday that the country is set to hold its biggest war games since the dark days of the Cold War. The massive three-country war game is expected to involve Mongolian and Chinese armies.
China is experiencing an unprecedented growth in its population. As such, Swedish healthcare products are also seeing an exponential boom in the country. Sweden's medical and pharmaceutical products in 2013 amounted to around 5.4 billion kronor. In 2017, this figure increased to just under 10 billion kronor or around $1.1 billion.
A Chinese truck company and a Belarus-based parts manufacturer have recently signed an agreement. The agreement states that the Belarusian BelAZ OJSC will supply truck parts worth more than $360,000 to China Datang Corporation (CDT).
The Chinese government recently iterated its effort to at least mitigate, if not totally curb, online financial risks. Beijing added that it will also take a closer look and impose new regulations regarding the use of shares as collateral for financing activities in order to maintain the stability of the market.
Recent figures have revealed that world stock markets have posted more than two-week highs. This is despite the backdrop of the bitter trade war between China and the United States. As world stocks post impressive growth, the Chinese Yuan continues to stabilize.
Lately, China has imposed a price cut to pharmaceutical products sold by some of the world’s top pharmaceutical companies. Despite this price cut, pharmaceutical companies are still positive as China has recently expanded the country’s state insurance which could mean a bigger and more lucrative market for said companies.