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If you’re an equity investor, who would you trust most? An analyst at Goldman Sachs or an analyst at Haitong Securities?
It may not sound like a relevant comparison, but if you’re a Chinese equity analyst wondering whether to join the growing ranks of international investment banks in Hong Kong and mainland China, then your bargaining power has just got stronger.
That’s because local Chinese analysts are more accurate than their foreign peers when it comes to earnings forecasts, an academic study has found.
The study of stock recommendations of China A Shares, found that local analysts are 9-10% more optimistic in their target prices than their foreign peers, and 17-25% more optimistic in their stock recommendations. “These biases are highly significant in a statistical sense,” says the report’s authors Wen Jiu, Joshua Livnat, Sean Lu and Ziyue Zeng at the Hong Kong Polytechnic University.
Fine-grained location data gleaned from mobile phones shows that people living in less affluent neighborhoods spent less time at home during the early lockdown and first several months of the coronavirus pandemic.
'Red tourism' is now one of the hottest travel trends in China, with tourists flocking to sites significant to the Communist Party's history. But critics say these sites present a doctored version of history.
18 Online Fashion Courses Anyone Can Take
Whether you re looking to start a new hobby, a new business or a new career, here s where to start.
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Photo: Stefan Wermuth/Bloomberg via Getty Images
Whether you want to brush up on illustration skills, master sewing, learn the basics of running a fashion business or take a full eight-week course on fashion buying, there are a number of ways to do so without ever setting foot in a physical classroom.
Online learning saw significant growth during the pandemic, which helped validate a practice that already existed and forced fashion design schools to innovate their teaching methods. And while there are (increasingly) entire degree programs available to take online, there are also shorter certificate programs and individual courses that anyone can take for a few hundred bucks.