China Financial News

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, thinks the US tariff announcements, which should start coming because very clearly there is going to be a differentiated tariff between China and India. And China will be having a much higher tariff vis-a-vis India that is the expectation. And as and when that is clearly articulated, Indian companies and Indian businesses will get enthused on the back of exciting prospects of doing business in the US.

Subscribe to enjoy similar stories. A PART OF Donald Trump’s political genius is being all things to all people—or at least to all his supporters. He has said so many contradictory things, throughout his public life and during the presidential campaign, that it is easy to latch on to the bits you like and either ignore those you don’t, or dismiss them as braggadocio.

Oil prices settled down more than 2% on Friday as investors fretted about weaker Chinese demand and a potential slowing in the pace of U.S. Federal Reserve interest rate cuts. Brent crude futures settled down $1.52, or 2.09%, to $71.04 a barrel. U.S. West Texas Intermediate crude futures (WTI) settled down $1.68, or 2.45%, at $67.02.

India is emerging as one of the least affected markets in the region when it comes to former U.S. President Donald Trump's trade policies, highlighted a report by global brokerage firm CLSA. The report stated that this resilience is attributed to India's relatively low trade exposure to the U.S., manageable corporate leverage, and declining levels of foreign equity ownership. While other markets might face greater vulnerabilities, India remains better positioned to weather such challenges. «India appears as among the least exposed of regional markets to Trump's adverse trade policy. Moreover, so long as energy prices remain stable, India may offer a relative oasis of FX stability in an era of a strengthening US dollar» it said.

The pan-European STOXX 600 index dropped 0.8%, trading just above a three-month low hit earlier this week.

cyber-espionage operation that gained entry into multiple U.S. and international telecommunications companies, The Wall Street Journal reported on Friday citing people familiar with the matter. Hackers linked to a Chinese intelligence agency were able to breach T-Mobile as part of a monthslong campaign to spy on the cellphone communications of high-value intelligence targets, the Journal added, without saying when the attack took place. «T-Mobile is closely monitoring this industry-wide attack,» a company spokesperson told Reuters in an email.

India will likely retain the fastest-growing G20 economy tag, with the bigger G20 emerging economy China seen growing 4.7%. Overall, the G20 economies will expand 2.8% in 2024, slower than 3% in 2023, according to the Global Macro Outlook 2025-26 report released Friday. The relocation of supply chains, investment from multinational companies and Chinese domestic manufacturers seeking to diversify production are creating opportunities for India, Mexico and many Southeast Asian nations, per the report.

President-elect Donald Trump said Friday that North Dakota Gov. Doug Burgum, Trump’s choice to head the Interior Department, will also head a newly created National Energy Council that will seek to establish U.S. “energy dominance” around the world

Leaders of Pacific Rim countries including the U.S. and China have gathered in Peru for an Asia-Pacific Economic Cooperation meeting, the first major global summit since U.S. President-elect Donald Trump’s election victory

retail sales growth in eight months and indicating Beijing's latest round of stimulus has boosted some key sectors. Retail sales increased 4.8% from a year earlier, the National Bureau of Statistics said Friday, up from September's gain of 3.2% and beating the median forecast of 3.8% by economists in a Bloomberg survey. It marked the best reading since February. Industrial output rose 5.3% from a year earlier, slightly slower than the previous month and lower than a forecast growth of 5.6%.

quality control regime for electrical goods to allow testing and certification at laboratories owned by equipment manufacturers, officials said. These equipment- like circuit breakers — can now be covered under a modified quality control regime. This relaxation in norm will benefit companies wanting to shift electrical equipment manufacturing out from China, they told ET, since these products can be conveniently tested at more facilities. «Effectively, India has doubled the number of labs where quality of electrical goods like circuit breakers can be vetted. These certifications are valid under Scheme X of the Bureau of Indian Standards (BIS),» a senior official told ET, adding that the heavy industries ministry is the first to allow testing under this scheme. With this, enforcement of the Electrical Equipment (Quality Control) Order, 2020 (EEQCO, 2020) can now begin. «The domestic industry was concerned since there is inadequate testing infrastructure to certify products for compliance with the QCO,» the official said.

lunar volcanism. Researchers said on Friday the soil brought back from the Chang'e-6 landing site contained fragments of volcanic rock — basalt — dating to 4.2 billion years ago and to 2.8 billion years ago. This points to a long period of volcanic activity — at least 1.4 billion years — on the far side during the first half of the moon's history, when it was a more dynamic world than it is today. The moon, like Earth, formed about 4.5 billion years ago. Volcanism on the moon, Earth and other planetary bodies involves the eruption of molten rock from the mantle — the layer just under the outer crust — onto the surface. The landing site in the South Pole-Aitken Basin, an impact crater, is an area with the thinnest crust on the moon, helpful for finding evidence of volcanism.

For the previous week, India's foreign exchange reserves dropped to $682.13 billion as of Nov 1. India's forex kitty: With its growing economic strength, India has achieved the significant feat of joining the ranks of the world's largest foreign exchange reserves, securing the 4th position globally after China, Japan, and Switzerland.

South China Sea without any confrontation with Chinese forces guarding the disputed area, officials said Friday. The Philippine delivery of supplies and military personnel on Thursday to the Second Thomas Shoal was the third such trip that did not lead to any confrontation since July, when both sides signed a rare deal to stop an alarming spike in violent confrontations. «The Armed Forces of the Philippines continues to uphold its mandate of safeguarding Philippine sovereignty and ensuring the welfare of its stationed personnel in the West Philippine Sea,» military spokesperson Col Xerxes Trinidad said, using the Philippine name for the South China Sea. «There were no untoward incidents during the mission,» Trinidad said.

However, there are substantial challenges. Any structure on the Moon will face harsh conditions, including intense cosmic radiation, extreme temperature changes, and moonquakes. Transporting building materials from Earth to Moon is also very expensive. Scientists in Wuhan, China, believe that using lunar soil could be a solution. Researchers at Wuhan’s Huazhong University of Science and Technology have created prototype bricks from materials similar to lunar soil, such as basalt. These samples will be tested for their durability and performance in space. «It's mainly exposure,» said Professor Zhou Cheng. «To put it simply, we put (the material) in space and let it sit there… to see whether its durability, its performance will degrade under the extreme environment.»

It said, «the return of the Donald to the White House offers an opportunity for Beijing to negotiate a new deal with Washington, which would probably include China indicating a willingness to move some production to America». On the continued war between Russia and Ukraine, the report noted that a deal could have been signed in the past on an agreement that Ukraine would not join NATO.

Subscribe to enjoy similar stories. SINGAPORE—The last thing Xi Jinping needs right now is another showdown with Donald Trump over trade. China is grappling with an epic property collapse, and local governments are wobbling under trillions of dollars of debt.

Lenovo will further diversify its supply chain and plans to open more manufacturing facilities outside China amid global geopolitical uncertainty, Chairman Yang Yuanqing said. Lenovo, the world's largest PC maker, has most of its plants in China, a common situation in the electronics industry that creates potential vulnerability as US President-elect Donald Trump threatens to impose 60% tariffs on Chinese imports. Yang told Reuters that while it's too early to predict the new US administration's policies, Lenovo has an advantage over competitors in hedging such risks through its more diversified manufacturing base and sourcing strategy, as well as balanced regional revenue streams.

BEIJING — China on Friday reported strong growth in retail sales and a steep decline in real estate investment in October, signaling that the country's recent stimulus push has already bolstered certain sectors of its flagging economy.

October industrial output grew 5.3% from a year earlier, slowing from September's pace of 5.4%, reflecting concern about confidence and demand woes confronting a sluggish economy and keeping alive calls for even more stimulus. Data released on Friday by the National Bureau of Statistics missed expectations for a rise of 5.6% in a Reuters poll of 43 analysts. Retail sales, a gauge of consumption, grew 4.8% in October, up from a 3.2% increase in September. Analysts had forecast retail sales to expand 3.8%.

Rajnath Singh is likely to meet his Chinese counterpart Dong Jun at an event in Laos next week. Following the border patrolling agreement with China that led to disengagement of troops in eastern Ladakh, Singh-Dong meeting would be the first high-level engagement between the two countries. Singh will visit Laos to attend ASEAN Defence Ministers Meeting Plus (ADMM Plus), where he is likely to meet his outgoing US counterpart as well. Sources said while the meeting with Dong has not been finalised yet, the interaction could take place on the sidelines of the two-day event.