$BABA is owned by Chineses, Chinese are poor, people who can afford shopping need to buy something
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| A popular way for investors to gain exposure to Chinese stocks is through exchange-traded funds (ETFs). These funds invest in a basket of stocks and provide a way for investors to easily gain exposure to a broad swath of companies from a particular country or sector. Two popular ETFs that focus on Chinese stocks are the iShares China Large-Cap ETF (FXI) and the KraneShares Trust KraneShares CSI China Internet ETF (KWEB).
The iShares China Large-Cap ETF (FXI) is one of the oldest and most popular China-focused ETFs. The fund tracks the performance of the CSI 300 Index, which is composed of the largest and most liquid Chinese stocks listed on the Shanghai or Shenzhen exchanges. The fund has $3.8 billion in assets under management and charges an expense ratio of 0.73%.
The KraneShares Trust KraneShares CSI China Internet ETF (KWEB) is a popular fund that focuses on Chinese internet and technology stocks. The fund tracks the performance of the CSI Overseas China Internet Index, which is composed of Chinese companies that generate the majority of their revenues from internet-related activities and that are listed on a U.S. exchange or have ADRs that trade in the U.S. The fund has $2.6 billion in assets under management and charges an expense ratio of 0.73%.
Other popular ETFs that focus on Chinese stocks include the Invesco Golden Dragon China ETF (PGJ), the Global X MSCI China Consumer Discretionary ETF (CHIQ), and the VanEck Vectors ChinaAMC CSI 500 ETF (CAY).
Investing in Chinese stocks can be a great way to diversify your portfolio and gain exposure to one of the fastest-growing economies in the world. However, it is important to do your research and understand the risks involved in investing in Chinese stocks, as they can be more volatile than stocks from other countries.
by Anusuya Lahiri, Benzinga Editor September 24, 2024 9:22 AM | 2 min read | Make a Comment
Zinger Key Points
Alibaba stock rose 4.9% as China’s central bank cut RRR by 50 bps
Chinese tech and EV stocks, including Baidu and NIO, gained in Read from source...

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Recent attacks on state government in Ekiti over tax and charges, and revenue generated by the state, has shown that a vast majority of those criticising government on this matter are either playing partisan politics or are ignorant of the workings of government and revenue collection at the sub-national level.

The criticisms are coming as the state government under Dr. Kayode Fayemi, is working round the clock to entrench probity, accountability and transparency in the management of the state’s financial resources as part of its journey towards qualitative governance and sustainable development.

Contrary to the insinuations of critics, the fact remains that the rate of tax in Ekiti is not only the lowest in the country but is less than N10, 000 per annum.

Also, the proposed 15 percent tax increment on property is only for property owners with property value of N100 million and above, a figure that is far above the average property value owned by individuals in the state.

As of today, the total revenue generated by the Fayemi administration since its inception in 2018, stands at N73.8 billion. The major contributors to the revenue are Value Added Tax (VAT), taxes, levies and other charges.

Contrary to the insinuations of critics, it is glaring that there is no personal tax in Ekiti State, and no tax or levy is imposed on Okada, Keke or Tricycle operators by the state government.

Similarly, there is no tax on all small and medium scale businesses as the state government only generates revenue from the certificate of occupancy (C of O) for those with property value of N100 million and above.

In addition, Ekiti State Government generates revenue from tax on property at the point of sale or when it changes ownership; commercial businesses such as petrol stations, companies and big hotels; levies on saw mills; land charges, fees and revenue from registration of births and deaths, among others.

It must be pointed out that government is driven by data and revenue projections, and these projections are sourced from the Federal Inland Revenue Service (FIRS), the Federal Ministry of Finance, and other relevant agencies of government.

For avoidance of doubt, the

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### What's Going On With Chinese Stocks Alibaba, NIO, XPeng, Li Auto On Tuesday?

Chinese tech industry barometer Alibaba Group Holding BABA stock gained on Tuesday after China’s central bank announced plans to slash banks’ reserve requirement ratio (RRR) by 50 basis points. The central bank will also cut the seven-day reverse repurchase rate to 1.5% from 1.7%. Alibaba rivals Baidu, Inc BIDU, PDD Holdings Inc PDD, and JD.com, Inc JD also noted an upward movement in their stock prices in Tuesday premarket trading. Battered Chinese electric vehicle stocks, including NIO Inc. NIO, XPeng Inc XPEV, Li Auto Inc. LI, and ZEEKR Intelligent Technology Holding ZK, were also up on Tuesday premarket. The Chinese companies have been battling the double whammy of a weak domestic economy and geopolitical tensions with the U.S., impairing their artificial intelligence technology ambitions. AI technology has been pivotal in upgrading hyperscaler businesses, including e-commerce, logistics, electric vehicles, and more. Last week, the stocks got a boost from the U.S. Fed rate cut. The U.S. Fed slashed the lending rate by 50 bps, lowering the central bank’s benchmark rate to 4.75%-5% to spur demand. Analysts expect the cut to drive growth in discretionary spending from U.S. companies. Investors can gain exposure to Chinese stocks through iShares China Large-Cap ETF FXI and KraneShares Trust KraneShares CSI China Internet ETF KWEB. Price Actions: At the last check on Tuesday, BABA stock was up 6.25% at $95.72 premarket. PDD was up 5.32% at $107.71, JD was up 8.53% at $32.30, BIDU was up 5.12% at $92.80, NIO was up