China Financial News

President-elect Donald Trump has promised to impose new tariffs on China. Many countries, including the United States, already levy extra tariffs on China's electric vehicles. But with all of the advantages China wields in automaking, this pushback is unlikely to undercut China's dominance. China's home market for car sales is the world's largest — almost as big as the U.S. and European markets combined.

Upcoming phone launches this week: It's going to be an exciting week with a number of new smartphone launches lineup starting with the Redmi Note 14 series debut today, followed by the Moto G35 5G on December 10 and Vivo X200 on December 12. Here's a look at all the new phones launching this week.Redmi Note 14 series is all set to debut in India during a launch event today.

Subscribe to enjoy similar stories. One way of gauging how a country is faring is to track the wealth of its people. India, by that measure, is doing well.

Oil prices were mixed in early Asia trade on Monday as concerns over weak Chinese demand were offset by rising tensions in the Middle East following the rebel overthrow of Syrian President Bashar al-Assad. Brent crude futures fell by 1 cent to $71.11 per barrel by 1117 GMT. U.S. West Texas Intermediate crude futures rose by 1 cent to $67.21 per barrel.

BYD is set to show further market share gains when November vehicle sales data is released on Monday, putting it on course to exceed its annual goal and overtake Ford and Honda in global sales. BYD has been on an extraordinary expansion this year, growing capacity and undertaking a massive hiring spree to turbocharge revenue, which overtook EV leader Tesla in the third quarter. Aided by robust sales in China that continued in recent months, BYD is now on course to beat its annual sales target of 4 million vehicles, more than Japan's Honda and Detroit-based Ford in 2024 worldwide sales.

TikTok, which was banned in India in 2020, is now a step closer to meeting the same fate in the United States. A US federal court last Friday rejected TikTok’s appeal challenging a law requiring it to divest from its Chinese parent company or shut up shop next month. ET explains the case and what’s in store for the platform. Why does the US government want to ban TikTok?

ET. The executive, who was in India last week, mentioned that Bitget has been actively engaging with regulators over the past few months to obtain the necessary approvals for its local operations. In a conversation with ET’s Vinod Mahanta, Zade discusses Bitget’s plans for India, the impact of the Trump presidency on cryptocurrencies, the ongoing bull run, and the evolving role of crypto in a post-AI world. Edited excerpts: Q) Do you think that crypto has a future in countries like India where regulators are not in favour of digital currencies? As a company, we firmly believe that having regulations is far better than having none at all. Recently, I’ve had the opportunity to engage with some regulators in India, as compliance is a key priority for us. Binance has recently secured registration to operate in India and we are looking forward to getting ours from authorities.

Hyderabad by the Delhi police on Saturday for forcing several youngsters from India to commit cyber crimes through fake call centres on the promise of getting them jobs abroad after a 2,500-km chase. The accused, Kamran Haider alias Zaidi, carried a reward of Rs 2 lakh on his information by the National Investigation Agency (NIA). Zaida, along with his associates, trafficked vulnerable young Indian men to the Golden Triangle Region in Southeast Asia, where the borders of Thailand, Laos and Myanmar meet, and force them to work in Chinese companies. Then, their passports would be taken away and they would be forced into cyber crimes.

Subscribe to enjoy similar stories. Anant Goenka, vice-chairman of RPG Group, recalls a chance meeting with an HSBC banker during a flight from Delhi to Mumbai some six months ago, which sparked the conglomerate's interest in acquiring Michelin's off-highway tyres and tracks business. In the next 4-6 months, Ceat faced a brief process as it had to navigate competing interests from Indian and Chinese tyre manufacturers that were also pursuing Camso.

India registered a commanding 35-22 win over Singapore at the Asian Women's Handball Championship in Delhi on Sunday, opening up the opportunity for their best-ever finish in the tournament. India, who have never finished above sixth, will face China on Tuesday in the 5th/6th place playoff match. Charged by the backing of their fans, India opened the placement match against Singapore with high energy, leading 9-6 midway through the first half, courtesy Menika and Bhawana Sharma's consistent scoring. At the other end, captain Diksha Kumari and goalkeeper Nina Shil, who made key saves including a penalty, kept Singapore at bay.

Subscribe to enjoy similar stories. It was a tea-loving author who started off my dalliance with cosy crimes that transformed into a 20-year affair before gently fizzling out. My current infatuation is also set off by a tea-loving author, Kevin Kwan, and his Crazy Rich Asians trilogy.

Congress general secretary in-charge communications Jairam Ramesh said a discussion in Parliament on the India-China relationship should focus on both strategic and economic policy, especially since our dependence on China has increased economically, even as it unilaterally changed the status quo on our borders over four years back. In a statement, Ramesh said the Congress has studied the recent suo motu statement made by External Affairs Minister S Jaishankar in both Houses of Parliament titled «Recent Developments in India's Relations with China».

China's Ant Group, Cyril Han, will take over from Eric Jing as chief executive from March 1, showed an internal memo seen by Reuters which was confirmed by a spokesperson. Han will continue to report to Jing who will remain as chairman, the memo showed. Han became president in March during the fintech's biggest organisational change since it was fined $984 million in July 2023 for violations in areas such as corporate governance.

Redmi Note 14 series on December 9. The series, comprising the Redmi Note 14 5G, Redmi Note 14 Pro, and Redmi Note 14 Pro+, will bring advanced features to the Indian market. These devices, initially introduced in China in September, are expected to feature similar specifications with minor changes to suit Indian customers.

Modi government has agreed to a «new normal» over the «old normal» prevailing prior to April 2020 and demanded that Parliament must be given an opportunity to debate the full gamut of the relationship between the two countries. Congress general secretary in-charge communications Jairam Ramesh said a discussion in Parliament on India-China relationship should focus on both strategic and economic policy, especially since our dependence on China has increased economically, even as it unilaterally changed the status quo on our borders over four years back. In a statement, Ramesh said the Congress has studied the recent suo motu statement made by External Affairs Minister S Jaishankar in both Houses of Parliament titled «Recent Developments in India's Relations with China».

Europe's economy has enough difficulties, from tepid growth to trade tensions with the U.S. Dealing with those woes is only getting harder due to the political chaos in the two biggest European countries, France and Germany

balloons near Taiwan between Saturday and Sunday, according to Taiwan's Defence Ministry, as Beijing ramps up pressure on the island it claims as its own. China's military activities come amid speculation Beijing might organise military drills around the island in response to Taiwanese President Lai Ching-te's recent visit to Pacific allies, including US stops in Hawaii and Guam. China claims Taiwan, a self-ruled democracy of 23 million people, as its own territory, and bristles at other countries' formal exchanges with Taiwan. The United States, like most countries, doesn't recognize Taiwan as a country but is its main unofficial backer and sells it arms.

AI firm G42, Axios reported on Saturday, citing two people familiar with the deal. Microsoft invested $1.5 billion in G42 earlier this year, giving the U.S. company a minority stake and a board seat. As part of the deal, G42 would use Microsoft's cloud services to run its AI applications. The deal, however, was scrutinized after US lawmakers raised concerns G42 could transfer powerful US AI technology to China. They asked for a US assessment of G42's ties to the Chinese Communist Party, military and government before the Microsoft deal advances.

electric car market is shifting into high gear, particularly in the affordable segment, with 86% of sales concentrated in the sub-Rs 20 lakh segment. With consumers increasingly choosing battery-powered SUVs over traditional hatchbacks, the electric PV sales are expected to exceed the 100,000 mark this year. While early market leader Tata Motors is facing headwinds, upcoming launches of Suzuki e-Vitara, Mahindra BE.6e and CEV9e early next year are expected to recharge the market and boost competition. Experts said more choices in the electric PV space will only make the market grow. They also said stricter emission penalties and the growing environmental benefits of EVs are driving automakers towards electrification.

Textile industry insiders in Surat said they are getting enquiries for the production and supply of ready-to-wear garments from such brands. If these materialise into orders, they estimate the growth of Surat's garment sector could accelerate to 20-25%, from the current 12% a year. Textile hubs in Tamil Nadu, Punjab and Noida too could benefit from new orders, they said. While Bangladesh is the second-largest exporter of ready-made garments behind China, it is highly dependent on the fabric supplied from Surat, the textile city of India. As big brands are looking for alternative sources amid increasing political instability and law and order issues, as well as unrest among textile industry workers, in Bangladesh, Indian companies see it as an opportunity to supply more value-added products to global markets.

TikTok asked followers to subscribe to their channels on rival platforms like Meta-owned Instagram and Alphabet's YouTube after a federal appeals court ruled that the social media app could be banned if it is not sold to a US-based company by January 19. TikTok has become a major US digital force as it has grown to 170 million US users, especially younger people drawn to its short, often irreverent videos. It has sucked away advertisers from some of the largest US players and added commerce platform TikTok Shop, which has become a marketplace for small businesses. The US Congress, fearing TikTok's Chinese owners are gathering information about American consumers, has passed a law requiring its owner, Chinese-backed ByteDance, to divest its TikTok in the US or face a ban. On Friday, a federal appeals court upheld the law.