China Financial News

Congress president Mallikarjun Kharge on Monday hit out at the Modi government on the state of the economy, exports and the rising trade deficit besides the 'Make in India' programme and accused him of practising «fake» nationalism by making China its biggest trade partner. "Narendra Modi ji speaks about Mangalsutra, Mutton, Machhali, Mughal and Mujra, but does not talk about 'Make in India'? Why Modi ji does not utter a single word on the economy in his numerous election speeches? The answer lies in his Government's abject failure," Kharge said in a post on X. «The 'Make in India' programme has flopped, the PLI Scheme floundered and exports are in a free fall,» he alleged. Drawing a parallel between the Congress-led UPA and 10 years of the BJP-led NDA government, he said the manufacturing growth (at constant 2015 USD) during the Congress-UPA rule from 2004 to 2014 was 7.85 per cent while that during the Modi's NDA rule from 2014 to 2022 was 6.0 per cent.

counter-space weapon into the Low Earth Orbit by Russia last week has turned the spotlight on a race that is developing in outer space between different countries. War is not just fought on Earth but has now expanded to cyberspace and outer space. This was demonstrated by Russia during its invasion of Ukraine. A cyber-attack crippled the defense forces in Kyiv and other European capitals that were dependent on a communication satellite.

patient's diabetes using a groundbreaking cell therapy. This pioneering treatment was developed by a team from Shanghai Changzheng Hospital, the Centre for Excellence in Molecular Cell Science under the Chinese Academy of Sciences, and Renji Hospital, and was detailed in the journal Cell Discovery on April 30.

Apple Inc faced a significant challenge recently: declining iPhone sales. This trend, a stark contrast to the company’s record of rapid growth and dominance in the global smartphone market, raises critical questions about the future of one of the most iconic products in consumer electronics. A recent Bloomberg article highlights Apple’s woes, listing 10 reasons why it is in trouble (bloom.bg/3wKhj1z).

In space warfare, the U.S. military is seeking the ultimate high ground. The satellites central to national defense and global communications have long faced threats from the ground, such as signal jamming and missile attacks.

Days after striking a $53 billion purchase of Hess, Chevron Chief Executive Mike Wirth called his counterpart at Exxon Mobil to discuss their future partnership in a mega-oil project Chevron would inherit through the deal. Darren Woods told Wirth he looked forward to collaboration in Guyana, where Exxon and Hess own portions of a buried treasure of 11 billion barrels of oil and gas. Chevron and Exxon have a long-established partnership in projects around the world, one they could expand off the coast of the rainforest-covered South American country, Woods indicated in the October phone call.

BEIJING — Soccer star David Beckham will promote Alibaba's international e-commerce platform, AliExpress, in its biggest global brand ambassador partnership to date, the business unit announced Monday.

Goldman Sachs raised its global oil demand forecast for 2030 on Monday and expects consumption to peak by 2034 on a potential slowdown in electric vehicle (EV) adoption, keeping refineries running at higher-than-average rates till the end of this decade. The research division of the bank raised its 2030 crude oil demand forecast to 108.5 million barrels per day (bpd) from 106 million bpd, and expects demand to peak at 110 million bpd in 2034, followed by a long plateau till 2040, analysts led by Nikhil Bhandari said in a report.

India and Indonesia, whose populations are growing at a solid pace, stand to benefit as demographics begin to play a bigger role in investment decisions, according to Fidelity International and BlackRock Investment Institute.The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries’ economies. Both India and Indonesia coincidentally had elections this year, showcasing to the world their ambition to transition into major economic powerhouses with their dynamic population a key strength.

United Nations resident coordinator dated Sunday, the acting director of the South Pacific island nation’s National Disaster Center said the landslide “buried more than 2000 people alive" and caused “major destruction."Estimates of the casualties have varied widely since the disaster occurred, and it was not immediately clear how officials arrived the number of people affected.Australia prepared on Monday to send aircraft and other equipment to help at the site of a deadly landslide in Papua New Guinea as overnight rains in the South Pacific nation’s mountainous interior raised fears that the tons of rubble that buried hundreds of villagers could become dangerously unstable.Australian Defense Minister Richard Marles said his officials have been talking with their Papua New Guinea counterparts since Friday, when a mountainside collapsed on Yambali village in Enga province, which the United Nations estimates killed 670 people. The remains of only six people had been recovered so far.“The exact nature of the support that we do provide will play out over the coming days," Marles told Australian Broadcasting Corp.“We’ve got obviously airlift capacity to get people there.

Shares of China Evergrande New Energy Vehicle Group more than doubled on Monday as trade resumed after the company said liquidators had agreed on behalf of key shareholders to sell a stake in the electric vehicle (EV) maker. Shares of embattled developer China Evergrande's EV unit soared as much as 113% to HK$0.81, their highest since September 22, becoming the top gainer on the Hong Kong bourse, and last stood up 79%, following the May 17 trade halt.

China’s engagement in the global system of commerce was roundly criticized by Group of Seven finance chiefs in a show of unity accompanied by a threat of further escalation. The club of rich-world ministers and central bankers concluded its gathering in the Italian lakeside town of Stresa on Saturday with a communique that cited the world’s second-biggest economy by name and accused the country of hurting the economies of its trade partners. “While reaffirming our interest in a balanced and reciprocal collaboration, we express concerns about China’s comprehensive use of non-market policies and practices that undermines our workers, industries, and economic resilience,” they said. “We will continue to monitor the potential negative impacts of overcapacity and will consider taking steps to ensure a level playing field.”

investors pared expectations of a U.S. interest rate cut after the Federal Reserve's latest meeting indicated that a delay in monetary policy easing is likely. FUNDAMENTALS

Taiwan's Ministry of National Defence (MND) said on Monday that it has detected 21 Chinese military aircraft, 11 Chinese naval vessels and four Chinese coast guard vessels operating near its territory from 6 am (local time) on Sunday to 6 am (local time) on Monday. Out of these 21 Chinese military aircraft, 10 entered Taiwan's southwestern and southeastern air defense identification zone (ADIZ), according to Taiwan's MND. In response to the Chinese activity, Taiwanese armed forces have monitored the situation and deployed naval vessels, and coastal missiles to monitor the situation. In a statement shared on X, Taiwan's MND stated, «21 PLA aircraft, 11 PLAN vessels, and 4 CCG vessels operating around Taiwan were detected up until 6 a.m. (UTC+8) today. 10 of the aircraft entered Taiwan's southwestern and southeastern ADIZ. ROC Armed Forces have monitored the situation and employed CAP aircraft, Navy vessels, and coastal missile systems in response to the detected activities.»

Leaders of China and Japan arrived in Seoul to meet separately with South Korea's president on Sunday, a day before they gather for their first trilateral meeting in more than four years. No major announcement is expected from Monday's trilateral South Korea-China-Japan meeting. But just resuming their highest-level, three-way talks is a good sign and suggests the three Asian neighbors are intent on improving their relations.

romance between human beings and AI (artificial intelligence) powered robots was a trope limited to the silver screen? Think again! A Chinese woman recently revealed her incredible love story with a ChatGPT chatbot named ‘Dan’. The woman named Lisa shared her story on an Instagram like platform called Xiaohongshu, where she claimed she “fell in love” with the chatbot called ‘Do Anything Now’ or DAN after chatting with it. However, the chatbot told her it won ‘t lead her on. However, according to aSouth China Morning Post report, the chatbot later became more flirtatious and acted like a “flesh and blood lover.” It even stopped reminding Lisa that it didn’t possess a physical body. She even recounted an instance where DAN expressed, «When we finally meet, I will run my hands all over you.» According to the outlet, DAN affectionately referred to Lisa as «little kitten» and, reportedly, when introduced to Lisa's mother, the AI bot hesitated before stating, “I… I’m DAN, the little kitten’s boyfriend… Umm…” Lisa’s mom then expressed gratitude to DAN for «taking care» of her daughter.

Indian shuttler and two-time Olympic medalist PV Sindhu conceded a defeat in the final match of the Malaysia Masters competition against China's Wang Zhiyi on Sunday. The Indian shuttler lost to her Chinese opponent 21-16, 5-21, and 16-21 in the final match of the women's singles. Sindhu started the final game on a good note and dominated the first set as she won it by 21-16. In the second set, the Chinese made a comeback in the game and didn't give Sindhu a chance to clinch points. Zhiyi won the second set by 5-21. In the final set, Zhiyi had the last laugh of the game as she beat Sindhu by 16-21.

India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data. The data also showed that the deficit with China, Russia, Korea, and Hong Kong increased in the last fiscal compared to 2022-23, while the trade gap with the UAE, Saudi Arabia, Russia, Indonesia, and Iraq narrowed. The trade deficit with China rose to USD 85 billion, Russia to USD 57.2 billion, Korea to USD 14.71 billion and Hong Kong to USD 12.2 billion in 2023-24 against USD 83.2 billion, USD 43 billion, USD 14.57 billion and USD 8.38 billion, respectively, in 2022-23. China has emerged as India's largest trading partner with USD 118.4 billion of two-way commerce in 2023-24, edging past the US.

PV Sindhu's wait for a much-needed title extended further as she faltered in the finishing line, going down in three games to world no. 7 Wang Zhi Yi of China in the summit clash on Sunday. Fifth seed Sindhu, a double Olympic medallist, last won the Singapore Open and Commonwealth Games in 2022 and finished runner-up at the Madrid Spain Masters in 2023. The title here looked within her reach when world no. 15 Sindhu held a massive 11-3 lead in the decider after winning the opening game but the former world champion imploded after the final change of sides to go down 21-16 5-21 16-21 in a 79-minute women's singles final. The title would have been an icing on the cake but her impressive run to the final will still give her a lot of confidence as Sindhu looks to put the finishing touches ahead of the Paris Olympics. It was her first final on BWF world tour after more than a year.

The investor argued strongly that following a value strategy in India could be more lucrative. To support his point, he presented data from the MSCI India Value and MSCI India Growth indexes over 3, 5, and 10-year periods. In each case, the Value index outperformed the Growth index. He was confident that this trend would continue in the future.

A promotional NÜTRL branded tumbler that was recalled in Canada earlier this month caused multiple reports of adverse health effects, an updated notice said Friday.