Hermes strategygroup, Ltd. provides its clients with knowledge support to better navigate China/Asia markets. Retweets to be taken with a large grain of salt.
Hong Kong-Beijing-Singapore
Joined March 2012
- Tweets126K
- Following752
- Followers1.4K
- Likes9.6K
Pinned Tweet
The Tradition and Prototypes of the China-Watcher
Lo Hui-min 駱惠敏 - East Asian History (June 1996)
eastasianhistory.net/sites/d…
(h/t China Heritage)
8
2026年第三季度中国货币政策执行报告
China's Monetary Policy Implementation Report for the Third Quarter of 2026
pbc.gov.cn/goutongjiaoliu/11…
10
Hermes strategygroup retweeted
I was deeply shocked to learn of the passing of Ted Plafker. He was the first foreign correspondent I met, and he was also the person who introduced me to my later employer, the New York Times. Through him, I opened the door to the world of international reporting and benefited greatly. RIP. Although the Economist's reports are not bylined, I know that its coverage of China in those years could not conceal his talent.
Hermes strategygroup retweeted
独家丨字节 AI 芯片负责人离职，自研芯片布局进一步整合
《晚点 LatePost》独家获悉，字节跳动 AI 芯片与 DPU 团队负责人施云峰已提交离职申请，目前正处于离职交接期。施云峰毕业于北京大学信息科学技术学院，曾任职于联发科、美满电子及华芯通， 2018 年加入字节跳动，向字节跳动副总裁、火山引擎业务负责人杨震原汇报。
从成立之初，字节 AI 芯片团队就选择对标谷歌 TPU 的专用芯片路线，采用纯 ASIC 架构。2026 年，相关芯片已完成流片，但实际性能未达预期，团队目前正推进下一代芯片的研发。
一位接近字节芯片团队的人士评价施云峰：“他是典型的理工男形象，对硬件的理解没问题，但这个事情确实很有挑战性。”
Hermes strategygroup retweeted
30 Japanese porn stars denied entry into Hong Kong, forcing expo’s cancellation scmp.com/news/hong-kong/law-…
Hermes strategygroup retweeted
Chinese government has diverging interests with Chinese tech giants on chip import ban. The former wants it in place to leave market space for indigenous chip (otherwise they would allow the 600k H200 sitting in HK in), the later want it relaxed to build up their model capacity. More importantly, Chinese tech giants don’t necessarily want the ban completely gone but want to outcompete their domestic competitors by having more exclusive hold of more compute. Given Alice Huang’s high-profile show off of her access to Jensen in Chinese social media, a much more consistent story is Alice Huang works for one of the tech giants to get preferential access to Nvidia chips over other Chinese giants in building data centres in SEA, circumventing China side’s import ban.
Hermes strategygroup retweeted
Desmond's distinction explained:
Alice Huang looks more like a commercial fixer (掮客) who may also have served as a clean-handed front (白手套) for business interests than like a dedicated Ministry of State Security-style intelligence operative.
That distinction is meaningful in Chinese political-commercial jargon: one emphasizes deal facilitation and possible fronting for private or elite commercial interests; the other would emphasize formal intelligence collection and reporting to the state security apparatus. Both roles can overlap in practice, but they are not the same thing.
Alice Huang: The Spy Narrative Misses Her Real Business
Everyone on X seems to treat the “Alice Huang is a Chinese spy” narrative as established fact. I say, not so fast.
Having spent over two decades doing business in China, I recognize a different character: the 掮客 (commercial fixer) and 白手套 (white glove)—an intermediary who shields the real principals behind a deal.
Her career in Shanghai’s murky capital markets, followed by Megaspeed’s $4.8 billion in Nvidia chip purchases, reveals a strikingly similar pattern.
The relevant questions should be: Whose money? Whose chips? Whose interests?
My latest Substack follows the money rather than the sensational spy narrative.
desmondshum.substack.com/p/a…
Hermes strategygroup retweeted
I don't know why people confuse what the Chinese government wants (domestic chip supply chain, like yesterday) versus what some Chinese AI companies want at present (Blackwells and Vera Rubins)
Market demand is not the same thing as national strategy
National strategy can try to change the contours of market demand though because at the end of the day it only really works well when both are aligned
Hermes strategygroup retweeted
Alice Huang: The Spy Narrative Misses Her Real Business
Everyone on X seems to treat the “Alice Huang is a Chinese spy” narrative as established fact. I say, not so fast.
Having spent over two decades doing business in China, I recognize a different character: the 掮客 (commercial fixer) and 白手套 (white glove)—an intermediary who shields the real principals behind a deal.
Her career in Shanghai’s murky capital markets, followed by Megaspeed’s $4.8 billion in Nvidia chip purchases, reveals a strikingly similar pattern.
The relevant questions should be: Whose money? Whose chips? Whose interests?
My latest Substack follows the money rather than the sensational spy narrative.
desmondshum.substack.com/p/a…
ChinAI #381: China’s Venture Capital Market is Defying Common Sense chinai.substack.com/p/chinai…
24