China Financial News

finished steel imports during the first 11 months of the financial year, which began in April, stood at 8.98 million metric tons, marking a 15.8% year-on-year increase, according to provisional government data reviewed by Reuters on Tuesday. India, the world's second-biggest crude steel producer, became a net importer in 2023/24, a trend that has continued with rising shipments from China, South Korea and Japan. Last month, India recommended a 12% temporary tax on certain steel products for 200 days, known as a safeguard duty, in an attempt to curb imports. South Korea was the biggest exporter of the alloy to India during April-February, with shipments reaching 2.6 million metric tons, up 7.1% year-on-year, the data showed. Finished steel imports from China totalled 2.4 million metric tons, down 5.3% year-on-year, while imports from Japan reached 1.9 million metric tons, marking a nearly 70% year-on-year increase, the data showed.

autonomous flying taxis for commercial use, marking a significant step in its low-altitude economy. The Civil Aviation Administration of China (CAAC) has granted air operator certificates to EHang Holdings and Hefei Hey Airlines, allowing them to operate passenger drones for urban sightseeing tours, the South China Morning Post (SCMP) reported.

Subscribe to enjoy similar stories. US equity indices have been in the red for the past month as recession fears take centre-stage. Add to that the US President’s steep spending cuts and tariff hikes and it’s no wonder investors are getting jittery, preferring to shift their stock bets to other countries.

Subscribe to enjoy similar stories. Earlier this month, M.F. Husain’s Untitled (Gram Yatra) created a record at Christie’s South Asian Modern and Contemporary Art sale in New York.

Assam Chief Minister Himanta Biswa Sarma on Tuesday strongly criticised and condemned the remarks made by the Chief Adviser of Bangladesh's interim government, Muhammad Yunus, claiming that Bangladesh is the «only guardian» of the Indian Ocean for the region, as the seven northeastern Indian states are «landlocked». Yunus made these remarks during his four-day visit to China. Taking to the social media platform X, the Assam CM said that the statement was «offensive and strongly condemnable», noting that the region had been under ongoing security risk discourse linked to India's critical 'Chicken's Neck' corridor." Sarma further highlighted historical suggestions by some internal elements in India to sever this critical passageway and isolate the Northeast. «The statement made by Md Younis of Bangladesh so-called interim Government referring to the seven sister states of Northeast India as landlocked and positioning Bangladesh as their guardian of ocean access is offensive and strongly condemnable. This remark underscores the persistent vulnerability narrative associated with India's strategic „Chicken's Neck“ corridor. Historically, even internal elements within India have dangerously suggested severing this critical passageway to isolate the Northeast from the mainland physically,» Sarma said.

transnational repression" and acts that threaten to further erode the city's autonomy, drawing condemnation from the territory's government Tuesday. The six officials included Justice Secretary Paul Lam, security office director Dong Jingwei and police commissioner Raymond Siu. The sanctions are expected to further escalate tensions between Washington and Beijing, who are already locked in friction over trade tariffs and other issues like Taiwan. «Beijing and Hong Kong officials have used Hong Kong national security laws extraterritorially to intimidate, silence, and harass 19 pro-democracy activists who were forced to flee overseas, including a US citizen and four other US residents,» the US State Department said. The statement dated Monday said the six officials sanctioned were linked to entities or actions that engaged in coercing, arresting, detaining or imprisoning individuals under the authority of the city's security law, or implementing the law. The other three affected officials were Sonny Au, the secretary-general for the city's committee for safeguarding national security, and Dick Wong and Margaret Chiu, both assistant commissioners of the police.

Hindustan Aeronautics Ltd (HAL) shares will be in focus on Tuesday after the company signed a Rs 62,700-crore contract with the Ministry of Defence for the supply of 156 Made-in-India Light Combat Helicopters (LCH) Prachand for the Indian Army and Air Force. The deal, cleared by the Cabinet Committee on Security, marks India's largest-ever defence procurement. In June 2024, HAL received an order for 156 Light Combat Helicopters. Out of these 156 helicopters, 90 will be allocated to the Indian Army and 60 to the Indian Air Force. These helicopters are manufactured at HAL's Tumukru plant in Karnataka.

The United States sanctioned six Chinese and Hong Kong officials who it alleged were involved in “transnational repression” and acts that threaten to further erode the southern Chinese city’s autonomy

Subscribe to enjoy similar stories. JSW Steel Ltd is poised to improve its near-term profitability from the lows of the December quarter (Q3FY25), aided by multiple factors such as improved realisation thanks to the proposed safeguard duty by the directorate general of trade remedies (DGTR), lower raw material costs, and higher volumes amid robust domestic demand.

Elon Musk's SpaceX on Monday launchd a crew of four private astronauts led by a crypto entrepreneur on a mission to orbit Earth from pole to pole, a novel trajectory in which no humans have traveled before. Maltese investor Chun Wang, a Chinese-born magnate who founded a bitcoin mining company, is the bankroller and commander of the SpaceX mission, named Fram2, a reference to the Norwegian «Fram» ship that pioneered Arctic exploration at the turn of the 20th century. The four crew members on Monday afternoon were driven to the launchpad in a caravan of Teslas — the electric cars of Musk's other company — winding through the roads of Cape Canaveral, Florida, with a police escort, as a SpaceX Falcon 9 rocket launched overhead in an unrelated Starlink mission. «We're gonna watch a rocket launch while on our way to a rocket launch,» Wang wrote on X, the social media site owned by Musk, alongside a video of a Falcon 9 climbing the skies to space during their drive. The mission, SpaceX's sixth private astronaut flight, is the company's latest novel effort that expands its dominance in the global human spaceflight arena. It comes as Musk's power as SpaceX CEO and the world's richest man soars as he works as a close adviser to U.S. President Donald Trump, a role that has given him extraordinary influence for a businessman over an array of U.S. policy matters.

Marco Rubio announced on Monday (local time) the imposition of visa restrictions on Chinese officials responsible for limiting the access of US officials to Tibetan areas. This move is in response to the Chinese Communist Party's (CCP) long-standing refusal to allow US diplomats, journalists, and international observers into Tibet while Chinese officials enjoy unrestricted access to the United States. «Today, I am taking steps to impose additional visa restrictions on Chinese officials determined to be substantially involved in the formulation or execution of policies related to access for foreigners to Tibetan Areas, pursuant to the Reciprocal Access to Tibet Act of 2018,» Rubio said in a statement. «For far too long, the Chinese Communist Party (CCP) has refused to afford US diplomats, journalists, and other international observers access to the Tibet Autonomous Region (TAR) and other Tibetan areas of China, while China's diplomats and journalists enjoy broad access in the United States. US diplomats are also unable to provide services to US citizens traveling in Tibet,» he added. Further, the US urged the CCP to immediately address this issue and allow diplomats and others unrestricted access to TAR.

The comments came after the three countries held their first economic dialogue in five years on Sunday, seeking to facilitate regional trade as the Asian export powers brace against U.S. President Donald Trump's tariffs. Japan and South Korea are seeking to import semiconductor raw materials from China, and China is also interested in purchasing chip products from Japan and South Korea, the account, Yuyuan Tantian, said in a post on Weibo. All three sides agreed to strengthen supply chain cooperation and engage in more dialogue on export controls, the post said. During Sunday's meeting, the countries' trade ministers agreed to «closely cooperate for comprehensive and high-level» talks on a South Korea-Japan-China free trade agreement deal to promote «regional and global trade», according to a statement released after the meeting.

Indian equities ended the financial year to March 31 on a positive note, but gains were modest against the previous fiscal year and compared with many other global markets. A wave of selling pressure from foreigners in the second-half of April-March eroded most of the gains, pushing indices to multi-month lows and denting overall sentiment. India, the world’s fifth-largest equity market in value, lagged behind more than six major global markets, including Hong Kong, Singapore, Germany, China, the UK, Taiwan and the US as foreign investors turned bearish on India on account of slowing growth concerns and expensive share valuations.

Subscribe to enjoy similar stories. New Delhi: India's electric vehicle (EV) battery makers could face collateral damage from the Trump tariffs, as foreign manufacturers unload cheap batteries here just as the local companies were ramping up production. India’s fast-growing EV market could absorb the diverted supply and drive down costs for local automakers, experts said, adding that also spells trouble for companies such as Amara Raja Energy & Mobility Ltd, Exide Industries Ltd, Reliance Industries Ltd and Ola Electric Ltd, which are investing billions to build battery plants.

President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades

Freight loading during the year crossed 1.61 billion tonnes, making India's railway network the second largest in terms of freight carried annually, overtaking the US, they said. China is the only country ahead of India in terms of cargo handled by the railway network. The year ended March 31 also saw the railways' capital expenditure utilisation marginally exceeding the budget estimates at more than ₹2.65 lakh crore, they said.

What matters now is the reaction of the other three key players to this latest move by the mercurial and inconsistent U.S. leader. Do Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and Chinese President Xi Jinping believe that Trump will actually follow through, and if he does what will it mean for their energy situation?

AI agent on the go. The developments come after Chinese artificial intelligence (AI) startupDeepSeek released a major upgrade to its V3 large language model (LLM), intensifying competition with US tech leaders like OpenAI and Anthropic.

Subscribe to enjoy similar stories. WASHINGTON : Many Trump administration officials work on national security or artificial intelligence. Michael Kratsios is thinking about how they collide.

American economy really is exceptional. It is richer, more innovative, and continues to expand at a high rate compared to most of the developed world. It has been extra special the last 15 years, with its equity market outperforming any other country as growth prospects for China and Europe dimmed. But it seems exceptionalism might be ephemeral. Uncertainty around trade and the future strength of the dollar has led some big European investors to retreat from American stocks. And the problem may go deeper. Less than 100 days into a second Trump administration, commentators are already discussing the coming end of American exceptionalism. Many things make the American economy exceptional. For one, it houses the deepest and most liquid capital markets, which help channel money to its more productive uses. But what makes it truly extraordinary is its dynamism, which underpins innovation and productivity, attracting talent from around the world. To figure out if our best days are behind us, it is necessary to separate short-term exceptionalism based on current financial conditions and longer-term structural exceptionalism that has been a feature of the American economy for the last century. The short-term boom may indeed be fading, but exceptionalism should endure over the longer term because it is more durable than whatever damage any one president can do in a few months.

Subscribe to enjoy similar stories. By its own estimate, the Indian government expects the economy to close 2024-25 with an expansion of 6.4%. That would make India one of the fastest-growing economies, but it’s still some way from maximising its unique demographic moment.