China Financial News

Stinger missiles to boost its defence capabilities amid growing concerns about China's military activities. The Army and Navy each ordered 250 Stinger missiles in 2019 and 2015, respectively. However, Taiwanese forces urgently require more effective countermeasures and deterrence, prompting the Army to order 1,985 more Stinger missiles from the US for approximately NT$55.54 billion,Taiwan News reported, citing Liberty Times. The Army will procure 549 launch systems and 549 identification, friend or foe (IFF) systems. The missiles are expected to be delivered by 2031, according to the MND's 2025 budget report.

BEIJING – China's first attempt at a top-tier video game has smashed world records, bolstering the industry's global ambitions just a few years after Beijing's gaming crackdown.

India will be one of the «great global superpowers» in the next few decades but it must stay the course on structural reforms to raise its economic growth rate to 8% from 6-7% now, said Nouriel Roubini, professor emeritus at Stern School of Business, New York University. In a conversation with Kotak AMC MD Nilesh Shah, Roubini shrugged off concerns about coalition politics derailing the country's reforms momentum. «I think there is some cohesive view that certain types of reforms have to be done, regardless of who is in power,» he said. China is slowing and external headwinds are gathering force, so India needs to get the reforms direction right and keep going even if the momentum may at times falter, he said. «Whether it's land reform or labour market reform or bankruptcy reform or more financial inclusion, more investment in skills and human capital, more reform of the bureaucracy and provision of public services-the list is very long,» said Roubini, making a strong case for building on the reforms already undertaken.

There are lots of embarrassing ways to lose money, but it is particularly galling to lose when you correctly identify the theme that will dominate the market and manage to buy into it at a good moment. Pity the investors in the three artificial-intelligence-themed exchange-traded funds that managed to lose money this year. Every other AI-flavored ETF I can find has trailed both the S&P 500 and MSCI World.

Apple finally confirmed the launch date for its flagship iPhone 16 series, setting the event for September 9 this year, one day earlier than the September 10 date predicted by many reports. Apart from the four iPhone 16 variants, Apple is likely to launch AirPods 4 in two new versions, Apple Watch SE 3, Apple Watch Ultra 3, Apple Watch Series 10 and iPad Mini 7.A new leak by tipster Digital Chat Station on Weibo revealed that OnePlus has advanced the timeline for its OnePlus 13 press conference to end of October or November.

imports of goods such as umbrellas, toys, certain fabrics, and musical instruments are severely hurting MSMEs as many of these products are also made by domestic businesses, according to think tank GTRI. The report said that during January to June 2024, India exported goods worth only USD 8.5 billion, while imports stood at USD 50.4 billion, resulting in a trade deficit of USD 41.9 billion. This low export and high import makes China India's largest trade deficit partner. «China accounts for 29.8 per cent of India's industrial goods imports. India must invest in deep manufacturing to cut dependence on import of critical industrial products from China,» Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said.

Lenders to debt-ridden Reliance Capital Ltd (RCAP) have alleged that Hinduja Group firm IIHL is indulging in delaying tactics, resulting in slowdown in implementation of the resolution plan. Mauritius-based IndusInd International Holdings Ltd (IIHL) emerged as a successful bidder for acquisition of Reliance Capital. The NCLT Mumbai on February 27, 2024, approved IIHL's Rs 9,861-crore resolution plan for the debt-ridden financial firm. According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought.

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is to be reconstituted soon, as per its usual schedule, and its revised composition will be of interest. The approach so far has been to have three members from RBI, including its governor, and three external members. These members are appointed by the central government for a term of four years.

RJD MP Manoj Jha on Sunday defended his party leader Tejashwi Yadav's "Chinese replica of Yogi Adityanath" remark for Assam chief minister Himanta Biswa Sarma. Jha said that the remark was against the dog-whistle politics of the BJP. «What Tejashwi Yadav said is something that people say daily. When we say that something is „Chinese maal“, it means it is not durable,» Jha told ANI «He said it in the context of dog-whistle politics, the politics of polarisation. As far as the dignity of words is concerned, where do you place 'bhains', 'mangalsutra' and 'mujra'?» he added.

navies of Singapore and China on Sunday began the third edition of a bilateral maritime exercise, underscoring the «longstanding, warm and friendly» defence ties between the two countries, according to an official statement. The Exercise Maritime Cooperation is being conducted between the Republic of Singapore Navy (RSN) and China's People's Liberation Army (PLA) from September 1 to 5, the Ministry of Defence here said in a statement. Its opening ceremony was held at the Ma Xie Naval Base in Zhanjiang, China, on Sunday, with about 200 personnel from both navies in attendance, The Straits Times newspaper reported. This is the third edition of the maritime exercise since its inauguration in 2015.

Gopal Rai, Delhi Environment Minister and AAP leader, released a statement on Sunday regarding the possibility of cloud seeding (artificial rain) and the construction of smog towers in Delhi. Gopal Rai refuted the allegations by BJP leaders that the Delhi government was wasting money by not constructing smog towers. «Yesterday, BJP leaders said that money was wasted. They do not know that on the orders of the court, the Delhi government built a smog tower in Connaught Place and the centre built in Anand Vihar. In such a situation, how did the Delhi government waste money?», said the Delhi Environment minister. Rai criticised the condition of the smog tower built by the Union government in Anand Vihar, he added, «Also, find out what the condition of the smog tower built by the Centre is, and why are you hiding the smog tower of Anand Vihar. We are always ready to give all kinds of support to the Centre.»

Pakistan faces a rise in terrorist attacks over the past few years, its troubled Balochistan province was hit this week by a series of assaults that have resulted in over 70 fatalities. The coordinated attacks, possibly the most extensive of their kind in recent history, were carried out by the separatist Baloch Liberation Army (BLA). These events have once again highlighted the Baloch insurgency, driven by long-standing neglect and the exploitation of Balochistan's natural resources, revealing the province as a vulnerable point for Pakistan. The attacks, which saw BLA targeting police stations and taking control of major highways, coincided with the death anniversary of Baloch leader Nawab Akbar Khan Bugti, who was killed 18 years ago in one of then president Pervez Musharraf's counter-insurgency operations. Bugti's death only highlighted the shortcomings of military action, as it failed to address the true needs and aspirations of the tribal population. This lack of genuine engagement led to the rise of additional armed separatist groups, which now not only target Pakistani security forces and Chinese interests but also attack Punjabi and Sindhi migrant workers.

Ukraine’s incursion into Kursk isn’t just a brash bid to upend Russia’s invasion. It also marks the first time that a declared nuclear power has faced invasion and occupation by another country. For decades, nuclear-escalation theory has presumed that countries with atomic weapons were largely immune from attack because an aggressor risked triggering armageddon.

India has recorded trade surplus with as many as 151 countries such as the US and Netherlands, while the country has a trade deficit with 75 nations including China and Russia during the first half of this year, according to think tank GTRI. The Global Trade Research Initiative (GTRI) said that India does not need to worry about the trade deficit from importing crude oil and coal, however, it must focus on reducing the industrial goods imports, especially from countries like China, as these threaten India's economic sovereignty. «Between January and June 2024, India had a trade surplus with 151 countries, representing 55.8 per cent of its exports and 16.5 per cent of its imports, totalling USD 72.1 billion,» GTRI said in a report. The biggest surpluses were with the USA (USD 21 billion) and the Netherlands (USD 11.6 billion) during January-June this year.

India isn’t against investments from China or doing business with companies from there, but it’s common sense to have the investments scrutinised because there is a “general China problem”, external affairs minister S Jaishankar said on Saturday. “It has never been the government’s position… But on the investment issue, it is common sense that investments from China would be scrutinised. I think the border and the state of relations between India and China call for it,” Jaishankar said at a session on ‘New India's Risks, Reforms, and Responsibilities’ at The Economic Times World Leaders Forum. China in many ways is a unique problem because of its distinct political and economic systems, and it’s not just a problem for India, he said. “We are not the only country that is having a debate about China. Go to Europe, and ask them what is today among your major economic or national security debates? It’s about China. Look at the US. It's obsessed with China, and rightly so in many ways. So, the fact is, let's not make out as though it's only India which has a China problem,” the minister said.

Brazil's Supreme Court has ordered the suspension of X, formerly known as Twitter, after a protracted legal battle with the social media platform's owner, Elon Musk. The Court mandated this suspension due to the company's failure to appoint a new legal representative in Brazil within the deadline set by Supreme Court Judge Alexandre de Moraes. The decision affects approximately 40 million Brazilian users who will lose access to the platform within 24 hours, making it the latest addition to the list of countries that have banned or suspended the social media service. The legal confrontation between X and Brazilian authorities began in April when Judge de Moraes ordered the suspension of multiple X accounts accused of spreading disinformation, a directive with which the company did not comply. This defiance led to the current suspension order. The judge also imposed a fine of 50,000 reais (Rs. 7.47 lakh) for any attempts to circumvent the block, such as using a VPN. In response to the decision, Elon Musk stated, «Free speech is the bedrock of democracy, and an unelected pseudo-judge in Brazil is destroying it for political purposes.»

tech innovation, said Maria Katris, cofounder and CEO of Built In. Speaking at the Economic Times World Leaders forum, Katris noted that the advancements in artificial intelligence (AI) will lead to increased job creation. Katris said that although there has been a tech recession the last two years, there will be a lot of job creation going forward. «India is going to be the future for tech innovation,» Katris added. Speaking during the startup panel «Catalysts of Change: Crafting the Future Through Startups», Nikhil Goel, CCO, Archer Aviation and cofounder of Uber Elevate, said India has an opportunity for better infrastructure.

Dr S Jaishankar said at the ET World Leaders Forum referring to the challenges that the world faces in today's time. Jaishankar explained that there are different forms of risks that pose a threat to the globe, including pandemics and climate change. In a conversation with ET's Pranab Dhal Samanta, Jaishankar said that risks are coming out of changes happening in the world. With respect to the emerging risks, the EAM said that every government today is constantly and cautiously assessing risks. These risks also expand to the global supply chain, he added.

Chinese manufacturing contracted for a fourth consecutive month in August, official data showed Saturday, a worse-than-expected result reflecting the world's second-largest economy's struggle to recover. China is facing a crisis in its vast real estate sector as well as lackluster confidence among households and businesses, which is hindering consumption, while geopolitical tensions with Washington and the European Union threaten foreign trade. In August, the Purchasing Managers' Index (PMI) — a key barometer of industrial output — stood at 49.1 points, the National Bureau of Statistics (NBS) announced.

Japan’s Defense Ministry has sought a record 8.5 trillion yen or $59 billion budget for the next year to fortify its deterrence on southwestern islands against China’s increasing threat

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...