Daniel Ren

Shanghai

Daniel Ren

Shanghai Bureau Chief

Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.

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Latest from Daniel Ren

Hong Kong, Chinese stocks slide as sentiment sours on Fed outlook for recovery

Hong Kong and mainland stocks extend losses, tracking declines in regional markets, as sentiment sours on Fed outlook for recovery.

17 Sep 2020 - 4:52PM

Hong Kong and mainland stocks extend losses, tracking declines in regional markets, as sentiment sours on Fed outlook for recovery.

Hong Kong, Chinese stocks slide as sentiment sours on Fed outlook for recovery
Hong Kong, mainland stocks rise for second session, but analysts say outlook remains cloudy

The Shanghai Composite advanced 0.57 per cent, while the Star50 index rose 2.71 per cent. In Hong Kong, the Hang Seng Index added 0.56 per cent to 24,640.28.

14 Sep 2020 - 5:27PM

The Shanghai Composite advanced 0.57 per cent, while the Star50 index rose 2.71 per cent. In Hong Kong, the Hang Seng Index added 0.56 per cent to 24,640.28.

Hong Kong, mainland stocks rise for second session, but analysts say outlook remains cloudy
China’s private sector feels the hardest pinch in balancing profits with job safety, as Covid-19 takes its economic toll, survey finds

The findings underscore how the worst global public health crisis in decades has exacerbated a slowdown in the world’s second-largest economy after a bruising two-year trade war with the United States.

11 Sep 2020 - 6:30AM

The findings underscore how the worst global public health crisis in decades has exacerbated a slowdown in the world’s second-largest economy after a bruising two-year trade war with the United States.

China’s private sector feels the hardest pinch in balancing profits with job safety, as Covid-19 takes its economic toll, survey finds
Yum China flops in Hong Kong debut amid lingering questions about strategy for KFC, Pizza Hut to overcome Covid-19 slump

The flop in Yum China’s Hong Kong debut draws a stark contrast with a spate of bumper initial public offerings (IPO) in the city, where stocks gained 50 per cent or more in value when they changed hands for the first time.

10 Sep 2020 - 5:06PM

The flop in Yum China’s Hong Kong debut draws a stark contrast with a spate of bumper initial public offerings (IPO) in the city, where stocks gained 50 per cent or more in value when they changed hands for the first time.

Yum China flops in Hong Kong debut amid lingering questions about strategy for KFC, Pizza Hut to overcome Covid-19 slump
China sends 500 senior bankers for training on risk controls as bad loans at decade-high worry regulators

China’s banking regulator is looking to train its senior bankers on risk controls after the Covid-19 pandemic pushed bad loans to the highest in a decade.

9 Sep 2020 - 9:30AM

China’s banking regulator is looking to train its senior bankers on risk controls after the Covid-19 pandemic pushed bad loans to the highest in a decade.

China sends 500 senior bankers for training on risk controls as bad loans at decade-high worry regulators
Food vendors foresee demand returning for imported meats, seafood after Xinfadi coronavirus outbreak made Chinese consumers wary

Amid fears of tainted food shipped from abroad, mainland Chinese consumers shied away from once-popular premium salmon, beef and pork

8 Sep 2020 - 9:30AM

Amid fears of tainted food shipped from abroad, mainland Chinese consumers shied away from once-popular premium salmon, beef and pork

Food vendors foresee demand returning for imported meats, seafood after Xinfadi coronavirus outbreak made Chinese consumers wary
Chinese retail investors’ bet on IPOs pays outsize dividends, but analysts say bubble could burst without warning

Investors eager to cash in on the sure-fire first-day returns on Chinese IPOs could get their fingers burnt as alarm bells ring after first debut flop in 2020, say analysts.

5 Sep 2020 - 1:30PM

Investors eager to cash in on the sure-fire first-day returns on Chinese IPOs could get their fingers burnt as alarm bells ring after first debut flop in 2020, say analysts.

Chinese retail investors’ bet on IPOs pays outsize dividends, but analysts say bubble could burst without warning
CanSino gets Russia’s approval to start Covid-19 vaccine trials on humans after snubbing Canada

CanSino Biologics will start testing its Covid-19 vaccine candidate on humans in Russia, after ending a cooperation with National Research Council of Canada.

2 Sep 2020 - 8:06PM

CanSino Biologics will start testing its Covid-19 vaccine candidate on humans in Russia, after ending a cooperation with National Research Council of Canada.

CanSino gets Russia’s approval to start Covid-19 vaccine trials on humans after snubbing Canada
Tesla hiring team of software engineers to develop car video games based at its upcoming Gigafactory in Texas

Job listings show Tesla is looking to build a software development team comprising video game, infotainment, user interface and rendering engineers to elevate its in-car experience.

2 Sep 2020 - 9:18AM

Job listings show Tesla is looking to build a software development team comprising video game, infotainment, user interface and rendering engineers to elevate its in-car experience.

Tesla hiring team of software engineers to develop car video games based at its upcoming Gigafactory in Texas
China’s top banks swamped by wave of Covid-19 related bad loans see pandemic casting shadow on full-year profits

Senior Chinese bank officials expect more bad loan provisioning to come, resulting in further pressure on net profit for the full year.

1 Sep 2020 - 9:30AM

Senior Chinese bank officials expect more bad loan provisioning to come, resulting in further pressure on net profit for the full year.

China’s top banks swamped by wave of Covid-19 related bad loans see pandemic casting shadow on full-year profits
Tesla’s made-in-China Model Y launch imminent after resounding success of Model 3 among mainland buyers

Tesla’s Model Y could be launched in the first quarter of next year as plans are going as per schedule, which is likely to build pressure on its Chinese rivals.

31 Aug 2020 - 10:59PM

Tesla’s Model Y could be launched in the first quarter of next year as plans are going as per schedule, which is likely to build pressure on its Chinese rivals.

Tesla’s made-in-China Model Y launch imminent after resounding success of Model 3 among mainland buyers
Hong Kong-listed biotech firm Henlius edges closer to Star Market listing

Hong Kong-listed Shanghai Henlius Biotech, which developed China’s first monoclonal antibodies biosimilar product last year for cancer treatment, is edging closer to a listing on Shanghai’s Nasdaq-style Star Market.

1 Sep 2020 - 9:52AM

Hong Kong-listed Shanghai Henlius Biotech, which developed China’s first monoclonal antibodies biosimilar product last year for cancer treatment, is edging closer to a listing on Shanghai’s Nasdaq-style Star Market.

Hong Kong-listed biotech firm Henlius edges closer to Star Market listing
Fosun’s billionaire chairman, stung by collapse of Thomas Cook, Cirque du Soleil, says missteps inevitable in global strategy

Fosun said that its tourism and cultural businesses were affected because of the extensive lockdown measures to contain the Covid-19 pandemic around the world.

28 Aug 2020 - 10:58PM

Fosun said that its tourism and cultural businesses were affected because of the extensive lockdown measures to contain the Covid-19 pandemic around the world.

Fosun’s billionaire chairman, stung by collapse of Thomas Cook, Cirque du Soleil, says missteps inevitable in global strategy
Chinese TV maker TCL reports 49 per cent increase in underlying second-quarter profit, after North America emerges as main growth engine this year

China’s TCL Electronics Holdings, the world’s second-largest manufacturer of televisions by market share, said it expected restrictive coronavirus containment measures to boost sales in the United States in the second half of this year.

26 Aug 2020 - 7:17PM

China’s TCL Electronics Holdings, the world’s second-largest manufacturer of televisions by market share, said it expected restrictive coronavirus containment measures to boost sales in the United States in the second half of this year.

Chinese TV maker TCL reports 49 per cent increase in underlying second-quarter profit, after North America emerges as main growth engine this year
Ping An’s OneConnect fintech arm expects flurry of deals in Southeast Asia as Covid-19 spurs shift to digital banking

The SoftBank-backed fintech platform last week raised US$356.4 million from a follow-on share sale to fund its overseas expansion and new product development.

24 Aug 2020 - 1:05PM

The SoftBank-backed fintech platform last week raised US$356.4 million from a follow-on share sale to fund its overseas expansion and new product development.

Ping An’s OneConnect fintech arm expects flurry of deals in Southeast Asia as Covid-19 spurs shift to digital banking
China’s electric car start-ups accelerate plans to grab market share, but mainland Chinese buyers can’t look beyond Tesla

Chinese electric car start-ups dream of unseating Tesla by raising fresh capital, developing new models with longer driving range, and innovating ownership plans. They have yet to persuade mainland Chinese consumers to look away from Tesla.

23 Aug 2020 - 7:52PM

Chinese electric car start-ups dream of unseating Tesla by raising fresh capital, developing new models with longer driving range, and innovating ownership plans. They have yet to persuade mainland Chinese consumers to look away from Tesla.

China’s electric car start-ups accelerate plans to grab market share, but mainland Chinese buyers can’t look beyond Tesla
Shanghai wants to drive up Lingang output with more success stories like Tesla’s, targets 600 billion yuan in output by 2022

The Shanghai government is pulling out all stops to draw foreign investment to the Lingang free-trade zone, with the aim of driving up its annual industrial output to 600 billion yuan (US$86.7 billion) by 2022.

21 Aug 2020 - 8:30AM

The Shanghai government is pulling out all stops to draw foreign investment to the Lingang free-trade zone, with the aim of driving up its annual industrial output to 600 billion yuan (US$86.7 billion) by 2022.

Shanghai wants to drive up Lingang output with more success stories like Tesla’s, targets 600 billion yuan in output by 2022
China’s top electric-car battery producer, Nio to team up for battery-swap venture as industry sales forecast to triple by 2025

China’s biggest producer of electric-car batteries is seeking to capture the rapid growth of green vehicles in the world’s biggest market – by offering owners the convenience of swapping battery packs at stations nationwide, for a fee.

20 Aug 2020 - 9:35PM

China’s biggest producer of electric-car batteries is seeking to capture the rapid growth of green vehicles in the world’s biggest market – by offering owners the convenience of swapping battery packs at stations nationwide, for a fee.

China’s top electric-car battery producer, Nio to team up for battery-swap venture as industry sales forecast to triple by 2025
China’s July new stock accounts more than double to 2.43 million as traders continue their headlong dive into market to sustain rally

While new stock accounts give legs to the bull market, having so many first-time investors – retail traders make up an estimated 70 per cent of China’s stock transactions – raise the political and socioeconomic stakes for the authorities, forcing them to do all they can to sustain prices and avoid scaring traders.

20 Aug 2020 - 11:47AM

While new stock accounts give legs to the bull market, having so many first-time investors – retail traders make up an estimated 70 per cent of China’s stock transactions – raise the political and socioeconomic stakes for the authorities, forcing them to do all they can to sustain prices and avoid scaring traders.

China’s July new stock accounts more than double to 2.43 million as traders continue their headlong dive into market to sustain rally
Mainland-listed companies’ first-half profits provide a peek into sectors leading China’s economic recovery after Covid-19

Although more than half of the 732 companies reported a year on year increase in profits, close to 3,300 A-share firms are yet to release their results.

19 Aug 2020 - 8:48AM

Although more than half of the 732 companies reported a year on year increase in profits, close to 3,300 A-share firms are yet to release their results.

Mainland-listed companies’ first-half profits provide a peek into sectors leading China’s economic recovery after Covid-19
Greenland, Vanke, Sunac among developers planning health care facilities in new residential projects as Covid-19 changes mindsets and lifestyles

Chinese home builders are rushing to incorporate medical facilities into their future developments as the Covid-19 crisis changes people’s priorities.

16 Aug 2020 - 9:51PM

Chinese home builders are rushing to incorporate medical facilities into their future developments as the Covid-19 crisis changes people’s priorities.

Greenland, Vanke, Sunac among developers planning health care facilities in new residential projects as Covid-19 changes mindsets and lifestyles
China’s financial clean-up whittles thousands of peer-to-peer lenders down to just 29, with US$115 billion in outstanding debt

With only 29 of the more than 6,000 peer-to-peer lenders remaining, China’s banking regulator plans to ease up on the crackdown by the year-end.

14 Aug 2020 - 9:43PM

With only 29 of the more than 6,000 peer-to-peer lenders remaining, China’s banking regulator plans to ease up on the crackdown by the year-end.

China’s financial clean-up whittles thousands of peer-to-peer lenders down to just 29, with US$115 billion in outstanding debt
CanSino, China’s first drug maker to start human trials for Covid-19 vaccine, soars in Star Market trading debut

The vaccine developer said it will use the latest proceeds to build a manufacturing base, fund research on vaccines, build cold-storage logistic and information technology systems and replenish working capital.

13 Aug 2020 - 10:34PM

The vaccine developer said it will use the latest proceeds to build a manufacturing base, fund research on vaccines, build cold-storage logistic and information technology systems and replenish working capital.

CanSino, China’s first drug maker to start human trials for Covid-19 vaccine, soars in Star Market trading debut
Beijing plans to scrap mandatory ratings to help companies hit by coronavirus issue bonds and raise new funds

China plans to remove mandatory credit ratings for companies in a move that will make it easier for them to issue debt and raise funds on the country’s stock exchanges.

13 Aug 2020 - 11:07AM

China plans to remove mandatory credit ratings for companies in a move that will make it easier for them to issue debt and raise funds on the country’s stock exchanges.

Beijing plans to scrap mandatory ratings to help companies hit by coronavirus issue bonds and raise new funds
Mainland Chinese mutual funds raise US$251.8 billion from individual investors bullish about A shares

Mainland Chinese mutual fund houses have this year raised a record amount of fresh capital from individual investors, who have shown an increased appetite for equities amid expectations of a further rally in stocks.

12 Aug 2020 - 9:30AM

Mainland Chinese mutual fund houses have this year raised a record amount of fresh capital from individual investors, who have shown an increased appetite for equities amid expectations of a further rally in stocks.

Mainland Chinese mutual funds raise US$251.8 billion from individual investors bullish about A shares
‘Recessionproof’ Huizhou records smallest drop in rents in first six months, emerges as Greater Bay Area’s most resilient office market

Huizhou, which is included in Beijing’s Greater Bay Area development zone, was its most resilient office market over the first half of this year, according to property services firm Savills.

29 Jul 2020 - 11:00PM

Huizhou, which is included in Beijing’s Greater Bay Area development zone, was its most resilient office market over the first half of this year, according to property services firm Savills.

‘Recessionproof’ Huizhou records smallest drop in rents in first six months, emerges as Greater Bay Area’s most resilient office market
Hong Kong developer Wheelock sells most expensive unit at its Koko Hills development for US$8.1 million

Wheelock Properties sold the most expensive flat at its Koko Hills project in Hong Kong’s Lam Tin neighbourhood through a bidding process on Sunday. The flat was offered separately from a batch of 34 units available for sale on the day. Of these, only one found a buyer.

27 Jul 2020 - 9:30AM

Wheelock Properties sold the most expensive flat at its Koko Hills project in Hong Kong’s Lam Tin neighbourhood through a bidding process on Sunday. The flat was offered separately from a batch of 34 units available for sale on the day. Of these, only one found a buyer.

Hong Kong developer Wheelock sells most expensive unit at its Koko Hills development for US$8.1 million
Alibaba unit UC Web reiterates commitment to Indian market after summons issued in case filed by ex-employee

UC Web, the Indian subsidiary of Chinese e-commerce giant Alibaba Group Holding, reiterated its unwavering commitment to the market on Sunday, after it was summoned by a local court in a case filed by a former employee.

26 Jul 2020 - 11:01PM

UC Web, the Indian subsidiary of Chinese e-commerce giant Alibaba Group Holding, reiterated its unwavering commitment to the market on Sunday, after it was summoned by a local court in a case filed by a former employee.

Alibaba unit UC Web reiterates commitment to Indian market after summons issued in case filed by ex-employee
Pfizer endorses CanSino’s meningitis vaccine, giving Chinese biotech company a shot in the arm

US global pharmaceutical giant Pfizer will promote Hong Kong-listed CanSino Biologics’ Menhycia meningitis vaccine candidate in the mainland.

26 Jul 2020 - 10:45PM

US global pharmaceutical giant Pfizer will promote Hong Kong-listed CanSino Biologics’ Menhycia meningitis vaccine candidate in the mainland.

Pfizer endorses CanSino’s meningitis vaccine, giving Chinese biotech company a shot in the arm
Singapore’s Keppel Capital builds its second Greater Bay Area data centre in Huizhou, rising on city’s infrastructure building spree

The GBA, a cluster of 11 cities in southern China including Hong Kong and Macau, is estimated to have a combined economic output of US$1.5 trillion, which would make it the world’s 13th-largest economy after South Korea if it were a stand-alone entity. Total population in the area is projected to grow to 100 million by 2035, from the current 70 million.

25 Jul 2020 - 9:29AM

The GBA, a cluster of 11 cities in southern China including Hong Kong and Macau, is estimated to have a combined economic output of US$1.5 trillion, which would make it the world’s 13th-largest economy after South Korea if it were a stand-alone entity. Total population in the area is projected to grow to 100 million by 2035, from the current 70 million.

Singapore’s Keppel Capital builds its second Greater Bay Area data centre in Huizhou, rising on city’s infrastructure building spree
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