China Financial News

07.12 / 12:23
Strategy Moodys Experts classical Equality peace chess World Chess Championship: Gukesh plays out easy draw, scores remain tied
D Gukesh yet again proved equal to the task with defending champion Ding Liren of China as the 10th game of the World Chess Championship between them ended in a draw without much excitement here on Saturday. It was by far the easiest of the game with black pieces for Gukesh as the position played itself out of a London system game wherein Ding Liren took no risks and was also apparently happy with the drawn result. The seventh consecutive draw — and eighth of the match — left both players on an identical tally of 5 points each, still shy of 2.5 points in order to win the championship.
07.12 / 11:07
UPS Man security Southern audience Michael Kovrig, former hostage of the Chinese state
Subscribe to enjoy similar stories. THE GOGGLES were bothersome. They fogged up when worn with glasses, rendering the world fuzzy when Michael Kovrig wanted to send his accusers the clearest possible message.
07.12 / 08:29
Platform ByteDance TikTok Justice Department Courts rights TikTok is inching closer to a potential ban in the US. So what's next?
TikTok’s future in the U.S. appeared uncertain on Friday after a federal appeals court rejected a legal challenge the company brought against a law that requires it to cut ties with its China-based parent company or be banned by mid-January
07.12 / 06:17
markets Digital Software Tesla Doge reports When Vivek Ramaswamy called Elon Musk, his friend in DOGE, a 'circus monkey' for China
Vivek Ramaswamy, who is co-heading proposed Department of Government Efficiency, had a controversial past with billionaire Elon Musk. Ramaswamy has a lengthy history of attacking Musk's ties to China, frequently referring to his partner's as a «circus monkey», and a puppet for the Chinese Communist Party, reports the CNN. Ramaswamy also criticized Tesla's investments and Musk’s comment on Taiwan. He argued the Tesla CEO was pandering to the Chinese Communist Party for business benefits, such as regulatory approvals and tax breaks. Ramaswamy’s critiques, reviewed by CNN’s KFile, include pointed remarks about Musk’s 2022 suggestion that Taiwan should become a special administrative region of China. ALSO READ: US stares at billions in losses as China bans exports of these rare minerals. All you need to know
07.12 / 06:17
markets Digital Software wellness PAM reports India set to witness surge in billionaire entrepreneurs over next decade: UBS Report
billionaire entrepreneurs over the next decade, mirroring like China's growth in billionaires until 2020, says a report by UBS. The report noted that the key factors such as rapid urbanization, digitalization, expanding manufacturing capabilities, and preparations for the energy transition are driving this momentum. It said «It may well be that India's billionaire entrepreneurs multiply over the next 10 years just as China's did in the years until 2020».
07.12 / 05:19
markets UPS Reuters Strategy Software Trade Experts Rattled by China, West scrambles to rejig critical minerals supply chains
China's trade restrictions on strategic minerals are starting to hit Western companies where it hurts. Blaming Beijing's curbs on antimony exports announced in August, German chemicals and consumer goods heavyweight Henkel told customers last month it had declared force majeure and suspended deliveries of four types of adhesives and lubricants widely used by automakers, according to a Nov. 8 letter to clients reviewed by Reuters. Henkel uses the silvery metal to make its Bonderite and Teroson-branded products, core parts of the company's adhesive technologies division, which brought in 10.79 billion euros ($11.4 billion) in revenue last year.
07.12 / 04:55
UPS Provident SpaceX country reports International Why China is building a Starlink system of its own
Subscribe to enjoy similar stories. ON December 5th a Long March 6a rocket blasted off from Taiyuan Satellite Centre, in Shanxi province in northern China. Aboard was the third batch of satellites for the Qianfan, or “SpaceSail" network, which aims to deploy a “mega-constellation" of thousands of satellites to beam fast internet access to users anywhere in the world.
07.12 / 04:25
markets Citi Racing Strategy International Sporting sprint Formula 1 announces five-year extension with Chinese Grand Prix
Formula 1 on Friday announced a five-year extension with the Chinese Grand Prix that will see the Shanghai International Circuit remain on the calendar through the 2030 season. As per a release from F1, the extension follows Formula 1's successful return to China in 2024 after a five-year absence, where 200,000 passionate fans attended the race to see Max Verstappen take victory in both the Sprint and the Grand Prix. In the 20 years since its first race, the 5.45km Shanghai International Circuit has established itself as a favourite of drivers and fans alike. The drivers relish the unique challenge the circuit provides, including the ever-tightening Turns 1 and 2, and high g-force Turns 7 and 8, and fans come to enjoy incredible racing and the vibrant culture of the city of Shanghai.
07.12 / 03:09
UPS Strategy Software ByteDance TikTok President Courts Why TikTok faces a US ban, and what's next?
TikTok, which is owned by Chinese company ByteDance, have prompted the U.S. government to pass legislation banning the social media platform unless it is sold to a government-approved buyer. President Joe Biden signed into law legislation that gives ByteDance up to a year to divest from TikTok. The company lost its first legal effort to overturn the law on Friday, when a panel of three federal judges unanimously rejected TikTok's argument that the law violated the First Amendment. The company pledged to appeal the decision to the Supreme Court. TikTok, which boasts 170 million users in the United States, could be banned as soon as mid-January, unless it receives a court-ordered injunction that would pause the law from taking effect as the appeal proceeds. There is also a chance that President-elect Donald Trump will try to rescue the app.
07.12 / 00:49
markets Manufacturing security community President reports International Japan's Nippon Steel sets sights on a growing overseas market in its bid to acquire US Steel
The signs at Nippon Steel read: “The world through steel,” underlining why Japan’s top steelmaker is pursuing its $15 billion bid to acquire U.S. Steel
07.12 / 00:49
COST UPS Manufacturing security economy Trade country China's ban on key high-tech materials could have broad impact on industries, economy
China has banned exports of key materials used for a wide range of products, including smartphones, electric vehicles, radar systems and CT scanners, swiping back at Washington after it expanded export controls to include dozens of Chinese companies th...
06.12 / 21:29
Platform ByteDance TikTok Instagram Meta Platforms social Courts TikTok's loss, Facebook, Instagram's gain! Check how Meta is soaring
Facebook, Instagram-owner Meta Platforms hit a record high on Friday after a U.S. appeals court upheld a law requiring China-based ByteDance to divest its popular short video app TikTok by early next year or face a ban. The decision is a devastating blow to ByteDance, whose social media app is used by 170 million Americans. It affirmed a law, which was passed by Congress with bipartisan support and signed by President Joe Biden, that gives the U.S. government sweeping powers to ban other foreign-owned apps that could raise concerns about collection of Americans' data. TikTok and ByteDance had argued that the law is unconstitutional and violates Americans' free speech rights.
06.12 / 21:29
markets Digital Action Persona country Latin reports This is how a tiny South American nation is taking on mighty China
Paraguay expelled the eminent Chinese diplomat Xu Wei from the country pretty recently while accusing him of interfering in its domestic affairs and urging the nation to sever its long-standing ties with Taiwan, reported CNN. According to CNN, the Paraguayan Ministry of Foreign Affairs declared Xu Wei as persona non grata while totally revoking his visa and gave him just 24 hours to leave the country. Xu Wei was originally in Paraguay for a UNESCO meeting but eventually caused a diplomatic stir by visiting Congress where he reportedly pressured the lawmakers to choose between China and Taiwan while stating that ‘It is either China or Taiwan’. Paraguay is one of only 12 unique countries globally that actually recognizes Taiwan as a sovereign state and it still remains the sole supporter in South America, asserted CNN. The Paraguayan government has resisted all kinds of pressure from Beijing while at the same time several Latin American nations have already switched their allegiance from Taiwan to China in recent years.
06.12 / 21:07
Platform Fighting ByteDance TikTok social information Courts TikTok's future uncertain after appeals court rejects its bid to overturn possible US ban
A federal appeals court panel on Friday unanimously upheld a law that could lead to a ban on TikTok in a few short months, handing a resounding defeat to the popular social media platform as it fights for its survival in the U.S. The U.S. Court of Appe...
06.12 / 21:07
UPS Waters security Fishing reports Investigations Atalanta A Chinese vessel has been hijacked off the Somali coast, officials say
Local authorities in Somalia have confirmed that a Chinese-owned fishing vessel with 18 crew members aboard was hijacked last week off the northeastern coast of Xaafuun district in Somalia’s Bari region
06.12 / 21:07
markets UPS Target economy Research reports International China fine tunes economic stimulus as it braces for new US administration
China is fine tuning its policies aimed at revving up its economy as it braces for an uncertain future in relations with the United States under President-elect Donald Trump
06.12 / 18:15
markets BLOCK Software ByteDance TikTok Courts Videos What happens next for TikTok after court ruling against it?
ByteDance to divest its popular short video app TikTok in the United States by early next year or face a ban. Here is what will likely happen next for TikTok. TikTok and its parent ByteDance sued in federal court to block a US law passed in April that would force ByteDance to divest of TikTok. It argued that the law would harm free speech.
06.12 / 14:23
markets UPS LGBT Boxing pop International This ‘blind box’ held a pleasant surprise for investors
Subscribe to enjoy similar stories. Forget semiconductors or artificial intelligence—one of the year’s hottest stocks has fur and plastic eyes and comes from China. Pop Mart has turned cute collectible toys into treasure, and you might see more of its shops around if its overseas expansion goes according to plan.
06.12 / 12:49
markets Art Remark Trade Experts reports Pharmaceuticals Indian billionaires' wealth nearly tripled to $905 billion in 10 years: Report
net worth of its billionaires nearly tripling to $905.6 billion in 10 years as of 2024. India now ranks third globally in total billionaire wealth, behind the United States and China, a UBS report highlighted. Rising sharply from $637.1 billion in 2023, this remarkable 42% growth rate in Indian billionaires’ wealth outpaces the global average and reflects India’s rapid economic transformation, propelled by family-led businesses and structural reforms propelled by the country’s government.
06.12 / 12:35
Bill Trade country information Department International Never before have so many sailors been abandoned at sea
Subscribe to enjoy similar stories. The crew of the Grand Sunny cargo ship has been stuck at sea for a year, unpaid and often hungry, after the vessel’s mysterious owner stopped paying the bills. The fate of the 11 men on board the Grand Sunny off the coast of China is increasingly common in the global shipping industry.

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