China Mobile Limited

Google has won a chunk of Vodafone’s cloud computing business. Vodafone is the world’s second-largest mobile operator by subscribers after China Mobile.

The global telecom industry is undergoing a rapid transformation, especially with the advent of 5G technology. We look at the telecom space’s key trends.

Qualcomm and Tencent, two giants in their respective industries, have entered into a broad partnership focused on gaming technology.

Ericsson (ERIC) expects Chinese operators to begin deploying 5G networks in the coming months, executives said at an investor briefing recently.

Ericsson (ERIC) continues to win 5G contracts from top operators.

iQiyi (IQ) will collaborate with China Unicom (CHU) to develop virtual reality (or VR) products.

Ericsson (ERIC) appears to be waging a price war against its competitors in China as it seeks to expand its foothold in the country.

China is a top priority market for Ericsson (ERIC).

The government of Finland has been quietly building its holding in Nokia (NOK).

Ericsson (ERIC) didn’t do well enough in China in the previous cellular generations, mostly because it lacked the right product range for the Chinese market.

Nokia (NOK) recently unveiled a new cost-savings plan that could result in an ~$800.0 million reduction in its annual costs by 2020.

The European Investment Bank (or EIB) has extended a five-year, $580 million loan to Nokia (NOK).

Nokia (NOK) recently signed a one-year equipment and services deal worth ~$1.2 billion with China Mobile (CHL).

Earlier this year, Nokia announced a partnership with China Mobile’s (CHL) optical network project.

The idea of Vodafone (VOD) buying assets from Liberty Global (LBTYA) in certain European markets doesn’t sit well with T-Mobile (TMUS) parent Deutsche Telekom.

Nokia (NOK) believes telecom operators haven’t yet tapped the potential of analytics.

Germany-based (EWG) investment company Deutsche Bank (DB) is treading a different path regarding Apple’s (AAPL) iPhone 8 estimates.

China’s (FXI) (MCHI) economy, based on some of its economic indicators, has recently shown signs of a slowdown.

Chinese exports in US dollar terms fell 7.7% in 2016 compared to 2015, making it the worst decline since 2009.

The bubbles created in China’s stock market in 2007 and 2015–2016 show that stocks fell ~65.0% and ~41.0%, respectively.

China Mobile (CHL) stock rose 3.9% on March 20, 2017, to close at $58.52. It had risen 5.3% one day previously, on March 19.

On December 19, Vodafone was the fourth-largest global telecom by market capitalization (~$67.3 billion). The largest global telecom company was AT&T (T).

On December 19, 2016, Vodafone’s stock was trading at $25.13. The stock was trading 1% above its 20-day moving average of $24.88.

Vodafone operates nearly globally, providing a range of telecom services centered on mobile technology to more than 483.7 million customers around the world.

The primary geographic focuses of the American Funds EuroPacific Growth Fund (AEPGX) are Europe and the Pacific Basin.

According to State Administration of Foreign Exchange, China’s foreign reserves fell by $4.1 billion in July to $3.20 trillion.

The China Caixin Manufacturing PMI (Purchasing Managers’ Index) rose to 50.6 in July from 48.6 in June. This indicates renewed improvement in operating conditions.

According to the National Bureau of Statistics, China’s industrial profits for firms above a designated size rose by 5.1% year-over-year to 616.3 billion yuan ($92.4 billion) in June.

According to the National Bureau of Statistics (or NBS), China’s industrial profits for firms above a designated size rose 3.7% year-over-year to 537.2 billion yuan.

MAPTX has been an above-average performer across all periods. It stands fourth among the funds under review YTD (year-to-date) in 2016.

Though ASIAX retains the flexibility of investing across market capitalizations, its focus areas are the small- and mid-cap segments.

TGRAX is quite balanced as far as allocation in its top three sectors is concerned.

China’s MNI Business Sentiment Indicator rose sharply in June to 54.5 from 50.0 in May due to the availability of cheaper credit and better credit terms.

There have been significant steps toward the eventual inclusion of China A shares in the MSCI Emerging Markets Index.

The Caixin China manufacturing PMI (or purchasing managers’ index) contracted further in May 2016 and came in at 49.2 compared to 49.4 in April.

China’s MNI Business Sentiment Indicator fell to 50.0 in May from 50.5 in April. The fall in new orders was offset by an increase in production.

Profits at state-controlled firms have fallen 7.8% YoY. This impacted total industrial profits. The inventory levels at industrial firms fell 1.2% YoY at the end April.

We think that 2016 will be challenging for the Chinese economy. With policy support and improved credit conditions, economic activity stabilized in 1Q16.

Hedge fund managers such as John Burbank of Passport Capital and Michael Novogratz of Fortress Investment Group LLC turned bearish on China this year.

According to customs data, China’s exports to the United States—the country’s biggest market—fell 9.3% YoY in April.

China’s Caixin Manufacturing PMI fell to 49.4 in April from 49.7 in March. This indicated further deterioration in the manufacturing sector.

China’s MNI Business Sentiment Indicator expanded to 50.5 in April due to stimulus measures from Chinese authorities to boost economic growth.

New loans issued by Chinese banks rose to 1.4 trillion yuan ($211.2 billion) up from 726.6 billion yuan ($112.0 billion) in February 2016.

In its Asian Development Outlook 2016 report, the Asian Development Bank projected that China’s economic growth should slow to 6.5% this year and to 6.3% next year.

According to the General Administration of Customs, China’s exports, in US dollar terms, jumped 11.5% YoY (year-over-year) in March.

China’s State Administration of Foreign Exchange, or SAFE, released foreign reserve data for March on April 7, 2016. China’s foreign reserves rose $10.3 billion to $3.2 trillion in March.

The ADB (Asian Development Bank) expects developing Asia to grow by 5.7% in 2016 as well as in 2017, a little slower than the 5.9% pace seen in 2015.

Brocade announced new technology partnerships to accelerate the development of new IP solutions.

The iShares China Large-Cap ETF (FXI) is the most heavily traded ETF that invests in Chinese equities. It manages $4.7 billion in assets and is invested in 51 holdings.

The Caixin China Manufacturing PMI rose to 49.7 in March—its highest level 13 months—from 48.0 in February, indicating deterioration in operating conditions.

China’s aggregate financing also fell sharply from 3417.3 billion yuan ($525 billion) in January to 780.2 billion yuan ($120 billion) in February.

As of March 9, 2016, Verizon is the third-largest global telecom player by market capitalization.

Nokia (NOK) commands a strong presence in China due to its combined installed base of Nokia and Alcatel Shanghai Bell (ALU). In 4Q15, Nokia’s revenues from Greater China (FXI) rose 17% YoY.

China’s exports fell sharply by 25.4% YoY (year-over-year) in February—compared to a decline of 11.2% in January. It was the largest decline since May 2009.

ASiAX is invested in companies such as Broadcom, Taiwan Semiconductor Manufacturing, China Mobile, NetEase, and class B shares of Telekomunikasi Indonesia.

Though ASIAX retains the flexibility of investing across market capitalizations, its focus area is the small- and mid-cap segment.

China’s MNI business sentiment indicator fell to 49.9 in February from 52.3 in January.

The yuan accounted for 2.5% of global payments in January, slightly up from 2.3% in December 2015.

The Templeton China World Fund – Class A (TCWAX) is the third-largest fund under this review, with an asset size of $297.2 million as of January 2016.

China’s official manufacturing purchasing managers’ index reading for January was down and came in at 49.4 as compared to 49.7 in December 2015.

The Global X China Financials ETF (CHIX)(FXI) seeks to track the performance of the Solactive China Financials Total Return Index.

Some analysts believe that the unexpected drop in foreign trade was mainly due to a change in the timing of the Lunar New Year.

The Invesco Pacific Growth Fund, under normal circumstances, will invest “at least 80% of its net assets in securities of issuers in the Pacific region.”

Unless you’re ultra-cautious and want to restrict yourself to Europe, Asia-Pacific should figure in your list of investible regions.

According to the latest SWIFT RMB Tracker, the yuan—also known as the “renminbi”—accounted for 2.3% of the global payments in November 2015.

China’s MNI Business Sentiment Indicator fell to 52.3 in January from 52.7 in December. The overall indicator fell, but production and new orders rose in January.

By market capitalization, AT&T ranks second among global telecom companies as of January 26, 2016. China Mobile (CHL) remains the leader in this metric

According to China’s General Administration of Customs, China’s exports fell 1.4% year-over-year in December 2015, compared to a fall of 6.8% in November.

On January 3, Religare Institutional Research projected that revenues of large-cap IT sector firms in India could grow between 0.3%–1.1% QoQ in fiscal 3Q16.

Staying below the neutral reading of 50, the Caixin China manufacturing PMI came in at 48.2 in December, down from 48.6 in November.

China’s official manufacturing PMI reading for December 2015 was up slightly and came in at 49.7. However, it was still in contraction mode compared to 49.6 in November.

China accounts for ~8.4% of the global GDP, and manufacturing activity contributes about 31% to China’s GDP. The Caixin China manufacturing PMI declined 0.4 points to 48.2 in December.

China’s MNI Business Sentiment Indicator rose 5.6% to 52.7 in December—above the neutral level of 50 and also higher than November’s reading of 49.9.

The Conference Board’s Leading Economic Indicator for China rose 0.6% in November, following a 0.3% rise in October and a 1.6% increase in September.

For the month ending on November 30, NGCAX rose by 0.2%. The positive performance could be due to a boost in exports after the yuan devaluation.

For the month ending on November 30, 2015, TCWAX fell by 2.8% due to weakness in global demand and lower commodity prices.

NCEAX fell by 1.3%. Weak PMI data, lower commodity prices, and uncertainty regarding the Fed’s interest rate hike contributed to negative investor sentiment.

China’s currency is flowing out of the economy. With the rate hike looming in the US, Chinese investors are parking their funds in dollar-denominated assets.

The rise in new yuan loans doesn’t directly impact the overall performance of mutual funds. But with the rise in credit flow in the economy, mutual funds with large exposures to financials benefit.

Although Apple does not provide guidance beyond the next quarter, the management is optimistic about the company’s growth prospects in the long term.

The Caixin China Manufacturing PMI was 48.6 in November, slightly up from 48.3 in October, as manufacturing units signaled stabilized output in November.

China’s official Manufacturing PMI reading for November was slightly down and came at 49.6 as compared to 49.8 in October. This index is released every month.

On November 27, 2015, Moody gave a Baa1 rating to Vodafone’s equity-linked zero-coupon bonds of 600 million pounds with maturity in 2020.

According to the National Bureau of Statistics of China (or NBS), China’s industrial profits fell sharply by 4.6% in October from a year earlier.

In November, China’s MNI Business Sentiment Indicator fell 10.3% to 49.9—below the neutral level of 50. It was also lower than the October reading of 55.6.

According to the National Bureau of Statistics of China, industrial production in China rose 5.6% in October compared to 5.7% in September. The reading was below market expectations of 5.8%.

In this series, we’ll look at the performance of AT&T’s (T) overall domestic wireless component in 3Q15. Note that AT&T has divided its operations into four new divisions.

The financial sector dominates both the US Global Investors China Region Fund Investor Class (USCOX) and the AC One China Fund Investor Class (ACOCX).

The AllianzGI China Equity Fund Class A (ALQAX) and the RS China Fund Class A (RSCHX) benchmark their performance to the MSCI China Index.

In the quarter that ended on September 30, 2015, the returns of all four of our selected China-focused mutual funds were negative.

The goal of the Guinness Atkinson China and Hong Kong Fund aims for long-term capital appreciation by investing in securities of China and Hong Kong.

The Eaton Vance Greater China Growth Fund seeks to provide long-term capital appreciation by investing in equity securities of companies in the Greater China region.

According to the National Bureau of Statistics of China, retail sales reached 2,527.1 billion yuan, up by 10.9% in September as against 10.8% in August 2015.

Chinese policymakers should try to implement Ray Dalio’s three rules of thumb as closely as possible to get the country’s economic growth back on track.

China’s Central Bank slashed its interest rate again to increase the amount of money flow in the economy. China’s Central Bank devalued the yuan in August.

For the one-month ended September 30, 2015, the Clough China Fund Class A (CHNAX) stands out as the worst performer of our China-focused mutual funds with a return of -2.2%.

The Conference Board LEI (Leading Economic Indicator) for China aggregates six economic indicators that measure economic activity in China.

China’s industrial production data were weaker than expected and grew by 6.1% year-over-year, or YoY, in August.

China’s foreign trade data for August were released on September 8. China’s exports in US dollar terms fell 5.5% year-over-year (or YoY) in August, while imports fell sharply by 13.8% YoY.

China’s stock market has been in turmoil since June 2015. Its stock market had been soaring, but after May, there was a share selloff, which led to a crash.