China Financial News

interest-rate cuts after Jerome Powell cited signals that the US is back on a disinflationary path. Equity benchmarks climbed in Japan, Australia and South Korea, while futures for Hong Kong stocks pointed to a positive start. Contracts for the S&P 500 edged lower after the benchmark closed above 5,500 for the first time — the gauge’s 32nd record this year — to extend a blistering rally that has left analysts scrambling to update their targets. Tesla Inc. surged 10% to lead gains in megacaps, helping the Nasdaq 100 close above the 20,000 mark for the first time.

China has reported its auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home

Shein from selling products on its own app as part of a larger crackdown on Chinese apps following escalated border conflicts between the two countries. Now, Shein has found a safe route to India: Mukesh Ambani's Reliance Retail Ventures, which will launch the Chinese fast-fashion label in the coming few weeks, ET has reported based on information from sources. Ambani's company will sell Shein's products on its app as well as offline stores owned and operated by Reliance Retail. It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.

8848 feet and that too for a viewing point to get a selfie? Incredible and ludicrous? Yes, but true. When two separate groups of tourists from China reached the 8848 Viewing Platform, located in the Tibet Autonomous Region of China, they decided to take selfies to make the trip memorable. After a tour guide asked them to pose together for a photo beside the Everest Elevation Monument, each group wanted to grab the best place for the selfie. According to the 'Independent', they argued over the optimal viewing position and it snowballed into slugfest and fisticuffs.

Paramount Pictures released the first poster for Ridley Scott's 'Gladiator II', set for a November 22 release, featuring Paul Mescal as Lucius preparing for battle.

₹30,000 mark in India.According to OnePlus, the Nord 4 will be the only metal unibody smartphone in the market after its launch. The company officially unveiled its design on Tuesday, showing off a two-tone finish and horizontal camera placement reminiscent of the Pixel 6 series.Unlike its cheaper Nord siblings, the Nord 4 will come with an alarm slider and an IP65 rating for dust and splash resistance.As per tipster Abhishek Yadav on X (formerly Twitter), the upcoming OnePlus Nord 4 could be priced at ₹27,999.

Investment in electric vehicle manufacturing is booming in Morocco, a country that neighbors Europe and enjoys a free trade agreement with the United States

Foxconn group's Bharat FIH is weathering a rough spell, having lost three independent directors in the last three months, people aware of developments told ET. The company is also likely to shutter its manufacturing facility in Sri City, Andhra Pradesh, due to a massive drop in orders from key client Xiaomi, they said. Industry watchers feel Bharat FIH was too dependent on the Chinese smartphone maker and did not keep up with the competition. Among those who have exited the Bharat FIH board are InterGlobe Aviation chairman Venkataramani Sumantran, Sify Technologies cofounder Ramaraj R, and former IT and telecom secretary Aruna Sundararajan.

In what was their first structured meeting since July 2023, Jaishankar and Wang, who is also a member of the political bureau of the Communist Party of China, decided that the Working Mechanism on Consultation and Coordination on India-China Border Affairs (WMCC) should hold an early meeting towards the process to achieve complete disengagement, officials said. The last (29th meeting) of the WMCC was held on March 27 this year in Beijing. The joint secretary (East Asia) at the Ministry of External Affairs had led the Indian delegation. The Chinese side was led by the director general of the Boundary & Oceanic Department of the Chinese Ministry of Foreign Affairs.

qingzhen. The term is Chinese for “pure and true" and can mean both halal and Islamic (mosques are known as qingzhen temples). Ningxia officials built a halal industrial park with room for hundreds of companies in Wuzhong, a majority-Muslim city of 1.4m people.

Border Patrol agents say a woman from China has been arrested at a Vermont lake bordering Quebec for trying to smuggle 29 eastern box turtles, a protected species, into Canada by kayak

Canadians have used an enormous amount of electricity for Bitcoin mining this year, placing additional strain on the country’s power grid.

China's AI sector showed confidence this week at a major fair in Shanghai that it would overcome restrictions imposed by the West, with companies rolling out cutting-edge products developed by a growing pool of young talent. The country's generative AI industry has shown explosive growth, with the United Nations reporting China has in recent years been the top filer of patents for AI software that creates everything from illustrations to computer code.

Japanese tech conglomerate Sony Group has acquired crypto firm Amber Japan, officially debuting into the crypto exchange arena.

Gavin Newsom’s yacht may be coming in after President Biden foundered last week in his debate with Donald Trump. Some Democrats are calling to replace the incumbent, and betting markets put Mr. Newsom as the favorite alternative.

In less than one year, India’s solar-cell manufacturing capacity will increase to 30 gigawatts from 6. These cells go into solar photovoltaic modules, whose capacity will also double to 150 gigawatts in two years. This will not only meet domestic demand but might also make India an exporter.

A newly formed association of Paraguayan Bitcoin (BTC) and altcoin miners says new energy tariffs could kill off the industry.

Gold prices held steady in early Asian hours on Monday, buoyed by data that showed inflation in the U.S. subsided, boosting hopes that the Federal Reserve will start cutting interest rates this year. FUNDAMENTALS

The winner of Iran’s presidential election will inherit domestic discord and an economy battered by sanctions, but also a strength: Tehran has more sway on the international stage than in decades. Iran, under Supreme Leader Ali Khamenei’s leadership, thwarted decades of U.S. pressure and emerged from years of isolation largely by aligning itself with Russia and China, giving up on integration with the West and throwing in its lot with two major powers just as they amped up confrontation with Washington.