China Financial News

China’s economy beat expectations in the first quarter of the year with help from policies and stronger demand

Asian shares have skidded following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks

German Chancellor Olaf Scholz has told Chinese leader Xi Jinping who hosted him in Beijing that Russia’s full-scale invasion of Ukraine threatens global security, in an apparent call for China to apply greater pressure on its neighbor to end the war

German Chancellor Olaf Scholz has called for fair competition in trade relations with China while warning about dumping and overproduction while speaking to students in Shanghai on Monday

Nissan says it expects to mass produce electric vehicles powered by advanced next-generation batteries by early 2029

Also Read: Nifty Metal index bounces back 3.4% from day's low amid strong spike in metal prices China has set an ambitious economic growth target of around 5% for 2024, a goal that analysts view as requiring additional stimulus measures to achieve. In addition to the GDP data, China's release of March indicators—property investment, retail sales, and industrial output—underscored the persistent weakness in domestic demand.

Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday. It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% of its automobile sales in the country by 2035. Japan's second-biggest car maker has lagged behind European and U.S. competitors such as General Motors and Volkswagen in ramping up EV sales.

The figure for the first quarter of the year, reported by the National Bureau of Statistics today (16 April), surpassed the expectations of Reuters analysts, who had predicted a growth rate of 4.6%. On a quarterly basis, GDP grew by 1.6%. Overall, China's GDP stood at CN¥29.63trn ($4.17trn) at the end of the period. Compared to the same period in 2023, China's industrial output was up 6.1%, with retail sales climbing 4.7%, according to the NBS. Fitch Ratings downgrades China's credit to 'Negative' as deficits 'erode fiscal buffers' Chinese residents' nominal disposable income wa...

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Microsoft Corp. will invest $1.5 billion in a technology company backed by the United Arab Emirates, a deal that includes an intergovernmental pact to ensure artificial intelligence security as the U.S. and China increasingly compete for influence in the Gulf.

DUBAI—Saudi Arabia and other oil-rich Persian Gulf states have tried to avoid taking a position on America’s geopolitical rivalries in recent years, staying neutral in the Ukraine war and building ties with China. With Israel and Iran in open conflict, they might be forced to choose a side. Saudi Arabia and the United Arab Emirates struggled to stay on the sidelines when it became clear last week that Iran would attack Israel in retaliation for a strike in Syria that killed senior Iranian military officers.

Israel-Iran Tensions Impact: Emerging-market currencies fell to a new low for the year as the dollar extended gains into a fifth day amid heightened geopolitical tensions and after robust US data boosted bets the Federal Reserve will delay interest-rate cuts. Also Read | Israel vows to respond to Iran's drone attack, US military military assets in Middle East | Top 10 updates The MSCI EM Currency Index dropped 0.2% on Tuesday to the lowest since December.

The Economic Times reported on April 16. If a deal is struck, it will mark a gradual shift in Apple's operations from China to India, the report further added. Titan shares closed down 0.50 per cent at ₹3,601.55 on April 15, on the Bombay Stock Exchange (BSE).

Joe Biden help the Iranian regime by ignoring its nefarious activities like bankrolling Hamas and expanding its nuclear capabilities? After Tehran backed Houthi rebels and now attacked US ally Israel, this question has surfaced. Biden has also been accused of refusing to enforce sanctions imposed years ago. Tehran increased its oil exports, its most significant revenue source after Biden came to office four years back. Now, as the 2024 US Presidential Election is coming close and the campaign is picking up, the president will have to answer these allegations.

Tuesday's official data released by the National Bureau of Statistics (NBS) came in below expectations for an increase of 6.0% in a Reuters poll of analysts.

Baidu said on Tuesday its artificial intelligence chatbot “Ernie Bot” has garnered more than 200 million users as it seeks to remain China’s most popular ChatGPT-like chatbot amid increasingly fierce competition. Robin Li, CEO of the Chinese internet company, revealed the new milestone at a conference in Shenzhen on Tuesday. The chatbot was released to the public eight months ago.

Federal Reserve is unlikely to be in a rush to cut interest rates this year. Rising geopolitical tensions kept risk sentiment in check, lifting prices of gold and oil, while investor focus in Asia turns to China with GDP data due at 0200 GMT.

China's economy grew 5.3% in the first quarter year-on-year, official data showed on Tuesday, comfortably beating analysts' expectations, a welcome sign for policymakers as they try to shore up demand and confidence in the face of a protracted property crisis. Analysts polled by Reuters had expected first-quarter gross domestic product (GDP) to expand 4.6% from a year earlier, compared to 5.2% in the previous three months.

India has showcased itself as a global leader, the top intelligence official from the US Department of Defense has told the Congress that in 2023, India took steps to modernise its military to compete with China and reduce its dependency on Russian origin-equipment. «During the past year, India has showcased itself as a global leader by hosting the Group of 20 economic summit and demonstrated a greater willingness to counter PRC (People's Republic of China) activity throughout the Indo-Pacific region,» Lt Gen Jeffrey Kruse, Director of the Defense Intelligence Agency told members of the House Armed Services Committee — the subcommittee on intelligence and special operations during a Congressional hearing on defence intelligence countering China. India, he said, has advanced partnerships in the Indo-Pacific with regional South China Sea claimants, such as the Philippines, through training and defence sales and deepened cooperation with the US, Australia, France and Japan.

Market focus was also on the Chinese yuan, with a slew of top-tier economic data due out of China later in the Asian morning expected to show the world's second-largest economy slowed in the first quarter.

Middle East after Israel's military chief said his country would respond to Iran's weekend missile and drone attack amid calls for restraint by allies. Brent futures for June delivery rose 46 cents, or 0.5%, to $90.56 a barrel by 0005 GMT. U.S. crude futures for May delivery rose 43 cents, or 0.5%, to $85.84 a barrel.