China's Luxury Car Brand That's Come From Behind to Overtake BMW

In under four years, Seres Group Co., a small Chinese automaker once best known for its 30,000 yuan ($4,200) minivans, has beaten luxury legacy names like BMW and Mercedes to become the nation's hottest high-end car seller.
Formerly called DFSK Motor, Seres partnered with telecommunications giant Huawei Technologies Co. back in 2021 to launch the Aito brand of premium electric and hybrid sport utility vehicles. Since then, Seres has had a dizzying rise. Sales tripled in three years to around 427,000 vehicles in 2024, while the company's Shanghai-listed stock is up 120%.

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Japan scraps US meeting after Washington demands more defense spending -FT

WASHINGTON (Reuters) -Japan has canceled a regular high-level meeting with its key ally the United States after the Trump administration demanded it spend more on defense, the Financial Times reported on Friday. U.S. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth had been expected to meet their Japanese counterparts in Washington on July 1 for annual 2+2 security talks. But Tokyo scrapped the meeting after the U.S. side asked Japan to boost defense spending to 3.5 per cent of GDP, higher than an earlier request of 3 per cent, the paper cited unnamed sources familiar with the matter, including two officials in Tokyo, as saying. A U.S. official who did not want to be identified confirmed Japan had "postponed" the talks but said the decision was made several weeks ago. The source did not cite a reason. A non-government source familiar with the issue said he had also heard Japan had pulled out of the meeting, but not the reason for it doing so. U.S. State Department spokesperson Tammy Bruce said she had no comment on the FT report when asked about it at regular briefing, and the Pentagon also had no immediate comment. Japan's embassy in Washington did not respond to a request for comment. The Financial Times said the new higher spending demand was made in recent weeks by Elbridge Colby, the third-most senior Pentagon official, who has also recently upset another key U.S. ally in the Indo-Pacific by launching a review of a project to provide Australia with nuclear-powered submarines. In March, Japanese Prime Minister Shigeru Ishiba said that other nations do not decide Japan's defense budget after Colby called in his nomination hearing to be under secretary of defense for policy for Tokyo to spend more to counter China. Japan and other U.S. allies have been engaged in difficult trade talks with the United States over U.S. President Donald Trump's worldwide tariff offensive. The FT said the decision to cancel the July 1 meeting was also related to Japan's July 20 Upper House elections, at which the ruling Liberal Democratic Party is expected to suffer a loss of seats. It comes ahead of a meeting of the U.S.-led NATO alliance in Europe next week, at which Trump is expected to press his demand that European allies boost their defense spending to 5 percent of GDP.

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Nvidia (NVDA) Could Hit $5 Trillion as Analysts Lift Price Targets

Nvidia (NVDA, Financials) is drawing fresh bullish forecasts after a rapid five-year rally, with analysts now predicting the chipmaker could grow into a $5 trillion company. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Shares have climbed more than 3,000% over the past five years, and are currently trading near all-time highs. Rosenblatt Securities analyst Hans Mosesmann maintained a $200 price target this week, while UBS and Goldman Sachs pointed to Nvidia's dominant position in AI hardware as reason for long-term upside. Nvidia controls more than 80% of the AI accelerator market and reported a 427% year-over-year jump in data center revenue in its latest quarter. That segment is critical to generative AI and cloud infrastructure buildouts, bolstering Nvidia's top line and free cash flow which now exceeds Amazon's. The company's proprietary CUDA software, tight integration with Taiwan Semiconductor Manufacturing Co., and leading-edge GPUs like the H100 and upcoming Blackwell series reinforce its pricing power and market moat. Nvidia also reported more than $14 billion in quarterly profits, helping justify its $2.9 trillion market cap as of June 18. A doubling in valuation would place it in direct competition with Apple (AAPL, Financials) and Microsoft (MSFT, Financials) as the world's most valuable public firm. Nvidia trades at over 40x forward earnings, raising valuation concerns. Analysts are also monitoring geopolitical tensions between the U.S. and China, which could impact Nvidia's chip exports and manufacturing pipeline. Advanced Micro Devices (AMD, Financials) and Intel (INTC, Financials) continue to invest in AI chips, although they currently trail Nvidia on execution. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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The China Fund, Inc. Announces Board Approval of Plan of Liquidation

BOSTON, June 20, 2025 (GLOBE NEWSWIRE) -- The China Fund, Inc. (NYSE: CHN) (the 'Fund') announced today that its Board of Directors (the 'Board') has approved a plan of liquidation and dissolution (the 'Plan') for the Fund. The Plan will be submitted to Fund stockholders for approval at a Special Meeting. The date of the Special Meeting and more detailed information about the proposed liquidation and Plan will be set forth in a proxy statement to be mailed to the Fund's stockholders in the near future. The Board recommends that the Fund's stockholders vote for the liquidation of the Fund at the Special Meeting. In determining to liquidate the Fund, the Board considered a variety of factors including, among others, prevailing geopolitical and market conditions, the size of the Fund, the trading volume of the Fund's shares, the Fund's discount to net asset value, and the availability of competing open-end products, such as exchange-traded funds. The Board also considered alternatives, including converting the Fund into an open-end management investment company. On balance, the Board determined that the liquidation of the Fund is in the best interests of the Fund and its stockholders. The Fund intends to file a proxy statement with the U.S. Securities and Exchange Commission (the 'SEC') with respect to the proposal to liquidate the Fund. As noted, copies of the Fund's proxy statement will also be mailed to each stockholder of record of the Fund. Upon receipt, stockholders are advised to read the Fund's proxy statement as it will contain important information. Once filed with the SEC, the proxy statement will be available free of charge on the SEC website, This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's regulatory filings, which are available free of charge on the SEC's website. An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Any data and commentary provided in this press release are for informational purposes only. The Fund is a closed-end management investment company. The Fund's investment manager is Matthews International Capital Management, LLC. For further information regarding the Fund, please call (888)-CHN-CALL or visit the Fund's website at The information contained on the Fund's website is not part of this press release. Copies of the Fund's complete audited financial statements are available free of charge upon request. Investments involve risk, including possible loss of principal, and an investment should be made with an understanding of the risks involved with owning a particular security or asset class. Interested parties are strongly encouraged to seek advice from qualified tax and financial experts regarding the best options for your particular circumstances. Contact Julian ReidChairman of the BoardThe China Fund, Inc.+44 7768 068200Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data