China Financial News

The move would make Hong Kong the first domicile in the Asia-Pacific region to approve a crypto-backed, exchange-based investment fund. It would also put the island in prime position in the race to become the digital assets hib for the region.

chess prodigy D Gukesh on Thursday thanked the legendary Viswanathan Anand for playing a huge role in shaping his career, saying «I wouldn't have been close to what I am now if it wasn't for him». The 17-year-old Grandmaster scripted history on Monday by winning the Candidates Chess Tournament in Toronto to become the youngest ever challenger to the world title, beating a record created by the legendary Garry Kasparov 40 years ago. The triumph paved the way for Gukesh's clash against reigning world champion Ding Liren of China later this year. «Vishy sir has been a huge inspiration for me and I have heavily benefitted from his academy. I am truly grateful to him and wouldn't have been close to what I am now if it wasn't for him,» Gukesh said at a press conference a few hours after his arrival here to a rousing reception from fans and schoolmates.

President Joe Biden on Thursday sought to sell voters on an American “comeback story" as he highlighted longterm investments in the economy in upstate New York to celebrate Micron Technology's plans to build a campus of computer chip factories made possible in part with government support. Staring down a rematch with Republican Donald Trump, Biden was asking voters to buy into his vision of the future, at a moment when voters are most worried about enduring pressures from high inflation. The initial phase of New York project would open the first plant in 2028 and the second plant in 2029, with more time expected for the next two factories to be completed.

TikTok is gearing up for a legal fight against a U.S. law that would force the social media platform to break ties with its China-based parent company or face a ban

TikTok ban bill, setting a firm deadline for ByteDance, the parent company of the popular video-sharing app, to sell its U.S. operations. The bill, passed by the U.S. Senate, imposes a deadline of January 24, 2025, for ByteDance to complete the sale process or face potential repercussions.

OnePlus 13 is rumored to boast an expansive 6.8-inch micro-curved display, operating at a crisp 2K resolution. Building on the success of its predecessors, the device is expected to incorporate LTPO technology, promising improved battery efficiency. Notably, similarities with its predecessor, the OnePlus 12, in terms of display raise questions about significant advancements in this aspect.

French President Emmanuel Macron is warning that Europe could “die” if it fails to build its own robust defense as Russia’s war in Ukraine rages on

Honda plans to invest $11 billion, with the help of joint venture partners, to build out its electric vehicle efforts in Canada as it prepares for future demand in North America for the automobiles

Finnish investigators say a Chinese container ship remains the prime suspect in causing damage last year to a Baltic Sea gas pipeline between NATO members Finland and Estonia

Global automakers and EV startups are unveiling new models and concept cars at China’s largest auto show, with a focus on the nation’s transformation into a major market and production base for digitally connected, new-energy vehicles

Legislation forcing TikTok’s parent company to sell the video-sharing platform or face a ban in the U.S. has received President Joe Biden’s official signoff

China on Thursday sent three astronauts to its permanently inhabited space station for a six-month stay, in a regular rotation of Chinese astronauts onboard the "Tiangong" orbiting high above the Earth's atmosphere. The spacecraft Shenzhou-18, or «Divine Vessel», and its three passengers lifted off atop a Long March-2F rocket from the Jiuquan Satellite Launch Centre in northwest China at 8:58 p.m. (1258 GMT), according to state media.

The Tokyo Stock Exchange aims to attract listings from Asian startups, leveraging the market’s recent ascent to record highs and positioning itself as a preferred fundraising destination for companies outside Japan. Under a new initiative, the exchange is working with banks and other partners to select a few startups from other parts of Asia this summer to help them grow their business for potential initial public offerings down the road, said Hiromi Yamaji, group chief executive of Japan Exchange Group, the parent company of the Tokyo exchange. “We want them to use the Japanese market as a springboard to become a global company," Yamaji said in a recent interview.

government-in-exile on Thursday called on India and other democratic nations to press Beijing to divulge the whereabouts of Panchen Lama Gedhun Choekyi Nyima and allow an independent fact-finding commission to examine his disappearance in China nearly 29 years ago. The demand was made at a grand event held in this Himachal Pradesh town commemorating the 35th birth anniversary of Choekyi Nyima who disappeared just three days after the Dalai Lama declared the then six-year to be the reincarnated Panchen Lama. A joint statement issued by leading Tibetan leaders called on foreign governments and the UN to direct their ambassadors in China to meet with the 11th Panchen Lama and ascertain his whereabouts and wellbeing.

Airbus is in talks with China over a potentially major aircraft order ahead of a visit to France by Chinese President Xi Jinping in May, two people familiar with the matter said. One of the people said the package could involve hundreds of jets, but the other cautioned talks are at a preliminary stage.

Rahul Gandhi’s re-election bid in Wayanad to Union Minister Rajeev Chandrasekhar’s challenge to three-term member of parliament Shashi Tharoor in Thiruvananthapuram, the political landscape of Kerala is set to witness some keenly watched contests on Friday. The Congress and the Left-- both partners in opposition’s INDIA bloc-- are the main rivals in Kerala. Until now, the contest in Kerala has been bi-polar, but with the emergence of the Bharatiya Janata Party (BJP) as a force to reckon with, some seats are likely to witness a triangular contest.

textiles ministry is gearing up to launch a revamped Cotton Technology Mission aimed at improving the quality and output of India's "white gold" by adopting best practices that could position India as a prime destination for textile sourcing and foreign investment, two people aware of the matter said. This mission is designed to reduce dependence on imports for this crucial raw material for fibre, and to increase the incomes of India's more than 6 million cotton farmers, they said.

The surging dollar has hurt stocks outside the US but one group at least stands to gain: companies that export to the world’s largest economy.

Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators. One of the original members of the list, Russia, has been temporarily dropped from the tracker since its trade data has not been reliably available for the last two years. A country’s score on a given metric is a measure of its distance from both the best performer and the worst performer.

When China’s Communist Party put officials on notice that they must get used to tightening purse strings for years to come, the response was swift. At least 21 provincial-level governments trimmed their budgets for official vehicles this year. The governor of Guizhou province pledged to cut his administration’s operating expenses by 15%.

lithium processing, said four sources familiar with the matter, to bolster its nascent lithium mining and electric vehicle industries and avoid relying on China. India's Ministry of Mines began discussions with Australia and the United States last year, said the four sources, two from India's government and two industry participants. The Indian government and some private companies have also sought help from Bolivia, Britain, Japan, and South Korea, said the sources, who did not wish to be identified as the discussions were not public. Executives from Russia's TENEX, part of state-owned nuclear energy company Rosatom, approached the Indian government and have held at least two meetings with Indian officials this year, offering lithium processing technology and the possibility of collaborating with Indian companies, said one of the sources, a senior government official with direct knowledge of the plans.