Big data changes life

  China now dominates the strategically important industries in ITIF’s Hamilton Index, producing  more than any other nation in absolute terms and more than all but a few others in relative  terms. Its gains are coming at the expense of the United States and other G7 and OECD  economies, and time is running short for policymakers to mount an industrial comeback.

  In the two years following the release of the 2021 OM Survey Report, Hong Kong has  achieved a pace in developments that is both blisteringly fast and concurrently measured,  carefully planned and sensibly thought out.  

  We initiate with a "Buy" rating and a TP of HK$40.77. We adopt relative  valuation based on PE ratio. We primarily referenced two peer groups, HK listed companies that provide internet content and information services, and US  listed companies related to music streaming. Currently, we value Tencent Music  (“TME”, or the “Company”) at 24.0x PE for 2024, and estimate a market  capitalization of around HK$139.9 bn. Based on the latest number of issued  shares, we calculate the corresponding target price to be HK$40.77/share. 

  Power electronic devices, also known as power semiconductor devices, are electronic components used in circuits for power conversion and control, specifically for high-power applications (typically referring to current in the range of tens to thousands of amperes and voltages of several hundred volts or higher). Power devices are capable of handling and controlling large currents and voltages, and they offer advantages such as high efficiency, high reliability, and high-speed operation. They play a critical role in various application scenarios. The main types of power semiconductor devices include diodes, thyristors, and transistors. Among them, diodes and thyristors have relatively mature and simple manufacturing processes, while transistors, particularly insulated-gate bipolar transistors (IGBTs), metal-oxidesemiconductor field-effect transistors (MOSFETs), and bipolar junction transistors (BJTs), have the largest market share. 

 As Chinese jewellery retailers shook off the pandemic, many  strode into 2023 with strong expectations. But the recovery has  been bumpy. In the face of economic uncertainties and the recordlevel renminbi (RMB) gold price, understanding current trends  and future possibilities is fundamental to jewellers’ businesses. We  have partnered with China Gold News to produce the 2023 edition  of our annual Chinese jewellery market insights. The main findings  include:  

  Welcome to our 2023 PwC China ESG Report – a collective story of how over 25,000 of our people came together on a sustainability journey. PwCers are adopting sustainable work practices, transforming our operations to achieve net zero emissions, actively engaging in community-driven initiatives, and helping our clients in their transformative journey toward long-lasting success.

  In 2021, JLL released the GBA (Greater Bay Area) Real Estate Guide, introducing the major real estate markets of the 11 GBA cities. Building on that, we recently released the 2023 GBA Residential Guide, which focuses on the living sector.