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Cake day: 2025年1月29日

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  • The propaganda is all by you here.

    Your own article’s headline ends with a question mark. It basically says that China’s social credit system may evolve over time. It says the system may move ahead with the long-delayed “Law on the Establishment of the Social Credit System” or continue working on points incentives for citizens.

    The Chinese government did not cancel this system.

    There is ample evidence for its existence, even from within China, Your own linked article is prove for that.

    More importantly, the scholars who wrote the report cited in my linked article are all Chinese, live in China, and, therefore, know the system as they must live with it every day, whether they want it or not.


  • The propaganda is all by you here.

    Your own article’s headline ends with a question mark. It basically says that China’s social credit system may evolve over time. It says the system may move ahead with the long-delayed “Law on the Establishment of the Social Credit System” or continue working on points incentives for citizens.

    The Chinese government did not cancel this system.

    There is ample evidence for its existence, even from within China, Your own linked article is prove for that.

    More importantly, the scholars who wrote the report cited in my linked article are all Chinese, live in China, and, therefore, know the system as they must live with it every day, whether they want it or not.






  • In China, the AI bubble has already burst

    … The meltdown, tanking the mainland STAR50 index of AI and semiconductor leaders by 40% in less than four months and vaporising some $480 billion in market value, is an ill omen for wobbly world markets and a dampener on China’s efforts at encouraging its savers into stocks to fund the AI boom.

    … With AI stocks running to 42% of China’s market capitalisation and 57% of turnover across mainland-listed A-shares and Hong Kong’s H-shares, according to Goldman Sachs, few in a market dominated by small investors have escaped pain.

    … Shares in robot-maker Unitree, 8,000 times oversubscribed by retail buyers at listing, have halved since they started trading in August, and chipmaker CXMT has lost more than a quarter of its value in the past month.

    … Chipmakers MetaX Integrated Circuits and Moore Threads Technology, which leapt 700% and 400% respectively on their market debuts last year, have also halved in value since July.

    … Frustration that an investment theme backed by Beijing has ended so badly has driven many investors into defensive assets and is likely to slow equity fundraising by tech firms.

    A remarkable detail in China, citing the report:

    The frenzy and its fallout contrast with a push by authorities to improve returns and dampen volatility by cracking down on leverage and high-frequency trading. State-backed investors were sellers into rallies to keep gains in check.

    [Emphasis mine.]


  • In China, the AI bubble has already burst

    … The meltdown, tanking the mainland STAR50 index of AI and semiconductor leaders by 40% in less than four months and vaporising some $480 billion in market value, is an ill omen for wobbly world markets and a dampener on China’s efforts at encouraging its savers into stocks to fund the AI boom.

    … With AI stocks running to 42% of China’s market capitalisation and 57% of turnover across mainland-listed A-shares and Hong Kong’s H-shares, according to Goldman Sachs, few in a market dominated by small investors have escaped pain.

    … Shares in robot-maker Unitree, 8,000 times oversubscribed by retail buyers at listing, have halved since they started trading in August, and chipmaker CXMT has lost more than a quarter of its value in the past month.

    … Chipmakers MetaX Integrated Circuits and Moore Threads Technology, which leapt 700% and 400% respectively on their market debuts last year, have also halved in value since July.

    … Frustration that an investment theme backed by Beijing has ended so badly has driven many investors into defensive assets and is likely to slow equity fundraising by tech firms.

    A remarkable detail in China, citing the report:

    The frenzy and its fallout contrast with a push by authorities to improve returns and dampen volatility by cracking down on leverage and high-frequency trading. State-backed investors were sellers into rallies to keep gains in check.

    [Emphasis mine.]