China Financial News

Adani Group, and India, have scripted history with a big cargo ship called San Fernando from China arriving at Kerala's newly built Vizhinjam International Sea Port. The 300-metre-long San Fernando, operated by Maersk, one of the world’s leaders in shipping and logistics, is the first commercial container cargo vessel to dock at India's largest transhipment port. Kerala Chief Minister Pinarayi Vijayan and Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal formally welcomed the ship. «The commissioning of Vizhinjam Port has started a new chapter in the development of Kerala. This moment is a matter of pride for our country too,» Vijayan said. «This milestone marks India's entry into global transshipment and ushers in a new era in India's maritime logistics, positioning Vizhinjam as a key player in global trade routes. Jai Hind!» Adani Group chairman Gautam Adani wrote on X. Karan Adani, Managing Director of Adani Ports and SEZ Limited (APSEZ), said in a statement, “San Fernando – now berthed at our harbour — is a symbol of a new, glorious achievement in Indian maritime history… No other port in India – including our own highly advanced Mundra Port – has these technologies. What we have already installed here is South Asia’s most advanced container handling technology. And once we complete the automation and the Vessel Traffic Management System, Vizhinjam will be in a class of its own as one of the most technologically sophisticated transshipment ports in the world.”

China’s Commerce Ministry has announced it will launch an investigation into whether unfair trade practices were adopted by the European Union in its probe of Chinese companies

China's Ministry of Finance is conducting more rigorous checks of work done by the Big Four auditing firms for local companies, three people with knowledge of the matter said, amid concerns auditors are not doing enough to uncover corporate wrongdoing. The tighter scrutiny, which has not been previously reported, is mainly focused on Deloitte, EY, PwC, KPMG and their audits of some financial firms as well as highly leveraged companies, said the people. It began a couple of months ago and comes in the wake of a regulatory probe into «intermediaries» for property giant China Evergrande Group, which refers to auditors, rating agencies and other providers of financial services.

Taiwan's defence ministry said Thursday it had detected 66 Chinese military aircraft around the island in a 24-hour window, a record-high this year, a day after it said Beijing was conducting exercises in nearby waters. China claims self-ruled democratic Taiwan as part of its territory and has said it will never renounce the use of force to bring it under its control. Thursday's record follows Taipei a day earlier spotting Chinese aircraft around the island that it said were headed to the western Pacific for exercises with the PLA aircraft carrier Shandong.

Indian imports rose to 42% in June from 37% in May and was more than the combined share of the next four largest suppliers, according to energy cargo tracker Vortexa. Crude imports from Russia jumped 13% in a month to 1.92 million barrels per day (mbd) in June. Russia's share in Indian imports exceeded the combined share of Iraq (16%), Saudi Arabia (8%), the UAE (8%) and the US (7%). Supplies from Iraq dropped 22% in a month to 754,000 barrels per day (bpd) in June and imports from Saudi Arabia fell 36% to 386,000 bpd. Supplies from the US, however, rose 63% to 330,000 bpd.

In keeping with the ambitions of the Paris Agreement, the Emerging Markets Climate Transition strategy retains the move toward a low-carbon economy as its raison d'etre. Meanwhile, the Transition Asian Equities fund will funnel money into companies with broader social and environmental objectives. Robeco brings multi-thematic strategy to market The EM strategy is set to be spearheaded by veteran EM fund manager  Jaap van der Hart and Rob Schellekens, current lead portfolio manager of the EM ex-China fund. Head of Asia Pacific equities Joshua Crabb will take the helm of Transition Asia...

North Korean Intelligence is believed to have fled China where he was working on a project. The concerned official is reported to have escaped with $30 million of funds meant for the hermit kingdom’s weapons modernization program. This has been reported by Money Today that this escape took place last month. This is yet another escape by a member of the North Korean government in recent times. China and North Korea share a good relationship and this relationship at times has been described as ‘devious’ due to the former’s support to North Korea to its nuclear program.

TikTok and its bite-sized videos arrived in the United States as a global version of the Chinese app Douyin

The issue of Tibet is back onto the international centre-stage with the visit of a seven-member US Congressional delegation to Dharamshala, Himachal Pradesh, this month to meet the Dalai Lama and members of the Tibetan government-in-exile. During the visit, former US House Speaker Nancy Pelosi lashed out at Chinese President Xi Jinping saying that the Dalai Lama’s contribution will live on in perpetuity while Xi Jinping will fade into obscurity.

The Biden administration is imposing tariffs on steel and aluminum shipped from Mexico that were made elsewhere

₹7.09 trillion in FY24 from ₹2.58 trillion in FY20 and ₹1.41 trillion in FY15. Kapoor expects this amount to grow significantly as PLI schemes for auto, semiconductors, medical devices, drones, white goods, and computer hardware gain traction.

3B rocket malfunctioned shortly after launch on its maiden mission in 1996, China's space industry suffered a serious blow. A big fireball and much damage were caused when the rocket went off course and fell into the nearby village of Mayelin. While US defense authorities believed the death toll to be in the hundreds, official reports stated there were six casualties. As a result of this catastrophe, US space industries withdrew from their partnerships with China, which led to the implementation of strict export regulations that are still in place today, as per reports of 'Yahoo News'.

Donald Trump loves to remind voters that President Biden has overseen the highest inflation in 40 years. But don’t count on Trump, the presumptive Republican nominee for president, to bring inflation down faster than Biden if he wins the presidential election in November. Most economists believe inflation, deficits and interest rates would be higher during a second Trump administration than if Biden remains in the White House, according to a quarterly survey of forecasters by The Wall Street Journal.

BEIJING — China's imports fell in June, missing expectations for slight growth, while exports grew more than expected, customs data released Friday showed.

Mint examines this question and more. The Shanghai Cooperation Organisation (SCO) was formed in 2001. It evolved from an earlier avatar known as the Shanghai Five, comprising Russia, Kazakhstan, Kyrgyzstan, Tajikistan and China.

Chinese banks say they will fight back against digital yuan-themed money laundering and identity theft schemes by rolling out new security protocols.

Saurabh Mukherjea, the Founder & Chief Investment Officer of Marcellus Investment Managers, a renowned portfolio management service (PMS) player, stressed on three transformative themes driving new investment opportunities in India. These include the democratization of boardroom opportunities, the $300 billion China +1 opportunity, and the empowerment of Indian women.

China), said the company's current focus is solely on its Bengaluru facility. “While we acknowledge the complexities surrounding ownership, that is an issue for the future. We will address it when the time comes," he said, replying to a question from Mint on the need for an Indian partner on the sidelines of a media interaction on Wednesday.

A driverless ride-hailing car in China hit a pedestrian, and people on social media are taking the carmaker’s side, because the person was reportedly crossing against the light

Microsoft has asked its employees working in China to use only iPhones for work. According to Bloomberg, the Bill Gates-founded company asked hundreds of its employees to verify their identities through the Microsoft Authenticator password manager and the Identity Pass app, available on Apple devices. As Google's mobile services, including its Google Play app store, are not available in China, the company blocked employees from using Android devices to access its corporate platforms. Consequently, Apple's App Store remains the only place for Microsoft employees in China to download and use the Microsoft Authenticator and Identity Pass apps.

BYD has signed a contract to build a $1 billion factory in Turkey, stepping up its efforts to expand internationally. This calculated action seeks to support BYD's ambition to lead the world EV market. According to a statement shared on X, Turkey's industry minister Mehmet Fatih stated the factory will start production by late 2026. It is anticipated to increase BYD's capability for European vehicle manufacture, with an approximate yearly production capacity of 150,000 vehicles.