China Financial News

The American embassy in Dhaka says a high-level U_S_ delegation has met with the head of Bangladesh’s interim government, Nobel laureate Muhammad Yunus, to affirm “dedication to fostering inclusive economic growth."

China is testing a new stealth fighter jet called J-35 to be deployed on its third aircraft carrier, the Fujian, which is equipped with an electromagnetic catapult unlike the other two fitted with ski-jump take-off ramps, official media reported on Sunday. A new type of warplane was tested earlier this year on the Chinese People's Liberation Army (PLA) Navy's first aircraft carrier, the Liaoning, state-run Global Times quoted official broadcaster CCTV as saying. It added that the new aircraft could be the long-expected J-35 — China's next-generation carrier-borne stealth fighter jet.

Shanghai halted transportation links, recalled ships and shut tourism spots including Shanghai Disney Resort on Sunday as it braced for Typhoon Bebinca, in what could be the strongest tropical cyclone to hit the Chinese financial hub since 1949. The Category 1 typhoon, packing maximum sustained wind speeds near its centre of around 144 kilometres per hour (89 miles per hour), was about 500 kilometres southeast of Shanghai as of 1:00 p.m. (0500 GMT). It is expected to make landfall along China's eastern coast after midnight on Monday. The strongest storm to make landfall in Shanghai in recent decades was Typhoon Gloria in 1949, which tore through the city with gusts of 144 kph. Shanghai was last threatened by a direct hit in 2022 by the powerful Typhoon Muifa, which instead landed 300 km away in the city of Zhoushan, in Zhejiang province.

The MacBook Pro is the only Apple product manufactured in the USA. Currently, total sales of Mac computers account for less than 10% of Apple's revenue, with the MacBook Pro representing slightly more than half of Mac computers' sales.

Sebi chairperson Madhabi Puri Buch has traded in listed securities worth about Rs 37 crore during her tenure at the regulatory body, violating its conflict-of-interest policy, Congress alleged on Saturday in a fresh salvo against her. The country's main opposition party also accused Buch of making investments abroad including in Chinese funds.

Receding inflation and growing economic concerns prompted the European Central Bank to lower interest rates a quarter point for the second time this year. Clues on the timing of the next cut were in short supply on Thursday, with President Christine Lagarde and colleagues awaiting data on how drastically the economy is deteriorating — and how that will shift inflation. In the US, an unexpected pickup in underlying inflation reduced odds of a bigger rate cut from Federal Reserve policymakers this coming week.

nuclear technology with Iran in return for ballistic missiles. These missiles, believed to be used in Russia’s ongoing war with Ukraine, have prompted fears of a growing nuclear threat. Both leaders acknowledged the deepening military cooperation between Moscow and Tehran during their discussions, which also covered the war in Ukraine, the Middle East crisis, and competition with China. US Secretary of State Antony Blinken, speaking earlier in London, warned, “For its part, Russia is sharing technology that Iran seeks – this is a two-way street – including on nuclear issues as well as some space information,” suggesting that Russia and Iran are engaged in destabilizing activities with global implications.

Subscribe to enjoy similar stories. GÖRLITZ, Germany—When the Cold War ended, European governments slashed their military budgets and spent a windfall of several trillion dollars on social programs—a popular policy with voters when Europe faced few external threats and enjoyed the security protection of the U.S. Now, European nations are finding it difficult to give up those peacetime benefits, even as the war in Ukraine has revived Cold War-era tensions and the U.S.

industrial policy to expand its economy and finance green manufacturing has helped kick off a fevered scrimmage among nations to develop and protect their own hometown businesses. It has been 40 years since such competitive anxieties about a rising Asian power prompted this kind of embrace of government intervention among the biggest free-market economies. Only then it was Japan, not China, that was the source of unease.

Subscribe to enjoy similar stories. Jim Farley had just returned from China. What the Ford Motor chief executive found during the May visit made him anxious: The local automakers were pulling away in the electric-vehicle race.

Russian hacker groups briefly disrupted Taiwanese financial platforms including the stock exchange and lender Mega Financial Holding Co.’s website, exposing the vulnerability of the island to foreign cyberattacks. Two groups that go by the handles “NoName057” and “RipperSec” on Telegram swamped targeted websites with a so-called Distributed Denial of Service attack, which caused unstable connection issues for the platforms Thursday afternoon, the Ministry of Digital Affairs said Friday. During the incident, the Taiwan Stock Exchange detected web queries from overseas internet-protocol addresses at volumes several times bigger than usual, the bourse said in a separate text message to Bloomberg News.

BEIJING — China's retail sales, industrial production and urban investment in August all grew slower than expected, according to National Bureau of Statistics data released Saturday.

Chinese banks extended 900 billion yuan ($126.86 billion) in new yuan loans in August, up 246% from July but short of analyst expectations, data released by the People's Bank of China (PBOC) showed on Friday. Analysts polled by Reuters had predicted new yuan loans would reach 1.02 trillion yuan last month, versus 260 billion yuan the previous month, but lower than the 1.36 trillion yuan a year earlier. «Both broad credit and bank loan growth slowed in August, coming in below expectations,» Leah Fahy at Capital Economics said in a note. «While stronger government spending should give the economy a boost over the coming months, that doesn't seem likely to be helped by any pickup in private credit demand.»

Russian hacker groups briefly disrupted Taiwanese financial platforms including the stock exchange and lender Mega Financial Holding Co.'s website, exposing the vulnerability of the island to foreign cyberattacks. Two groups that go by the handles "NoName057" and «RipperSec» on Telegram swamped targeted websites with a so-called Distributed Denial of Service attack, which caused unstable connection issues for the platforms Thursday afternoon, the Ministry of Digital Affairs said Friday. During the incident, the Taiwan Stock Exchange detected web queries from overseas internet-protocol addresses at volumes several times bigger than usual, the bourse said in a separate text message to Bloomberg News. Government websites and trading functioned normally on Friday. DDoS attacks are intended to overload systems rather than steal valuable information, and the stock exchange restored normal operations within a half-hour on Thursday. But the incident exposes the potential vulnerability of computing platforms in Taiwan, the world's biggest producer of advanced semiconductors and a potential flashpoint in a US-China conflict.

The Biden administration is cracking down on the cheap products sold out of China by companies such as Temu and Shein

Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to strengthen protections for strategic domestic industries from China's state-driven excess production capacity. The U.S. Trade Representative's said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals, would go into effect on Sept. 27. The USTR determination, published on Friday but first reviewed by Reuters, showed a 50% duty on Chinese semiconductors, which now include two new categories — polysilicon used in solar panels and silicon wafers — are due to start in 2025.

Chinese authorities have banned the accounting firm PwC for six months and fined it over $56 million for its involvement in the audit of collapsed local property developer Evergrande

A San Jose-based biotechnology company that helps doctors detect genetic causes for cancer is among those that could be cut out of the U.S. market over ties to China

A fake video that ricocheted across the internet claiming tensions between France and the United Arab Emirates after Telegram CEO Pavel Durov’s arrest likely came from Russia

light tank, Zorawar, a highly versatile platform being developed to boost the Army's combat capabilities along the frontier with China. The tank demonstrated «exceptional» performance, efficiently meeting all the intended objectives during the field trials conducted in desert terrain, the defence ministry said. The Defence Research and Development Organisation (DRDO) and the L&T Defence are developing the air-transportable 25-tonne tank that has been designed for rapid deployment largely along the frontier with China. Defence Minister Rajnath Singh described the successful trials of the Indian light tank as a «significant milestone» towards India's goal of self-reliance in critical defence systems and technologies.

China is raising its retirement age for workers, which is now among the youngest in the world’s major economies