China Financial News

Mumbai has displaced Beijing as Asia's city with the largest number of billionaires, according to Hurun Global Rich List 2024. This ticker-tape news comes as Indian stock markets powered ahead on a robust post-Covid recovery, while China is struggling to raise economic growth. The reordering is unlikely to be permanent, because India's market capitalisation-to-GDP ratio is in overvalued territory, while it is undervalued in China.

Musk surely knows how to control the narrative and the noise. His relentless honking at Raisina Hill’s policy making precinct for the last 4 long years did electrify the imagination of the government bureaucracy. That is why the auto industry executives in private see Narendra Modi government’s recently announced new electric vehicle policy, the last business before the announcement before the 2024 elections, predominantly as a red carpet rollout for just one eccentric billionaire: Musk. Even then to straight jacket the initiative as ‘The Tesla policy’ is a cynical response: The timebound and ceiling based 55-85% import duty cut on electric cars above a certain value, linked to specific localisation and investment milestones to boost domestic manufacturing would benefit incumbents Tata Motors, Hyundai, VW Group as much as it would Musk or accelerate the plans of Phat Nhat Vuong, founder of Vietnamese OEM VinFast, that has been looking to set up base in Tamil Nadu. Predictably therefore, the initial outrage of local players has evaporated post the announcement!

The world’s governments have agreed they want to triple renewable energy by 2030, a goal laid out at the U.N. climate summit in December

Authorities in Pakistan say that a suicide bomber has rammed his explosive-laden car into a vehicle in the northwest of the country

Chinese electric vehicle makers are showcasing their latest models, including a flying car, as they take on global rivals at the Bangkok International Motor Show

Japan’s Cabinet has approved a plan to sell future next-generation fighter jets that it’s developing with Britain and Italy to other countries

Vietnamese automaker VinFast plans to sell its electric vehicles in Thailand

China says it has filed a complaint at the World Trade Organization over U.S. subsidies for electric vehicles

China remains a major player in the global economy despite the economy facing headwinds of late.

In 2024, the «Magnificent Seven,» a group of the biggest technology companies, saw most of its members continue their impressive 2023 performance, except for Tesla (NASDAQ:TSLA) stock. Facing a myriad of challenges such as waning sales and growing competition in China, Tesla stock has underperformed the S&P 500 by a wide margin.

ICRA said: "India is a large consumer accounting for about 4-5% of the global consumption. Accordingly, India along with China and other large economies would impact overall demand and demand growth and Opec would be watching out for demand growth of the country." "However even considering global peak oil demand there is still a long way to go, so capacity and production increases by Opec are being done.

Pakistan Suicide Bomb Attack: Five Chinese nationals and their Pakistani driver was killed in a suicide attack in northwest Pakistan on Tuesday, according to local media reports. A suicide bomber rammed his explosive-laden car into the vehicle carrying the Chinese. This is the third such attack in the last few weeks in Pakistan.

As Ather Energy gears up to launch its family scooter shortly, Ravneet Phokela believes that the stage is set for the next phase of rapid growth and expansion to new regions across India. “With this new offering, Rizta, we will have the relevant customer base in place. We are very well distributed across the South and this electric scooter will help us grow in the North and West too,” Phokela, Chief Business Officer of Ather, told ETAuto.

Congress on Tuesday accused the ruling CPI(M) in Kerala of using the CAA for electoral gains, and said it is trying to alienate Muslim voters from the Congress on the «lie» that the grand old party did not oppose the controversial law Separately, Congress leaders asserted that if the INDIA front, of which the Left parties are a part, comes to power, the legislation will be «thrown in the dustbin». Congress Working Committee member and MP from Thiruvananthapuram Shashi Tharoor said that the Left front in Kerala is spreading «lies» and «distorting» the facts about the grand old party's role in opposing the Citizenship (Amendment) Act (CAA), right from its introduction as a bill in Parliament. Tharoor said that the Communist party, «which contributed minimally» to the freedom struggle during its crucial years, is today «trying to reap its benefits for political points in the most disgracefully dishonest way». Similarly, Leader of Opposition in the state assembly V D Satheesan accused Chief Minister Pinarayi Vijayan of misusing the CAA for political gains. Satheesan said that Wayanad Congress MP Rahul Gandhi and various other UDF MPs have spoken against the CAA, details of which have been forwarded to Vijayan. Despite that, the CM is lying and misusing the citizenship law to attract votes from the minorities, especially Muslims, the opposition leader alleged.

Chinese nationals were killed in an explosion when their convoy was attacked by a suicide bomber in northwest Pakistan on Tuesday, a top police officer said. A suicide bomber rammed an explosives laden vehicle into a convoy of Chinese engineers which was on its way from Islamabad to their camp in Dasu in the Khyber Pakhtunkhwa province, Mohammad Ali Gandapur, the regional police chief, told Reuters.

₹692 crore), as per South China Morning Post (SCMP). Despite the brand's success, the younger Zhang grew up in modest surroundings in Pingjiang County, Hunan province in China. He would believe his family was in financial difficulty.

SEOUL/BEIJING (Reuters) — Chinese state-owned planemaker COMAC's first wide-body jet is in its «detailed design stage», an executive said on Tuesday, following a report from the jet's fuselage manufacturer aiming to deliver the first fuselage section by September 2027.

SWIFT, the global messaging network used by banks, service providers, clearinghouses, corporate business houses, brokers, is planning to launch a new platform to connect central bank digital currencies (CBDCs) in the next one to two years, according to a Reuters report citing the firm’s head of innovation, Nick Kerigan.

Realme Narzo 70 Pro 5G with 50 MP camera, Dimensity 7050 SoC launched in India: Price, specs, launch offers and more According to the information shared by Realme, the 12x 5G will come with support for 45W SUPER VOOC fast charging, which will be able to take the 5,000 mAh in the phone from 0 to 50% in just 30 minutes. Realme has also confirmed that the 12x 5G will also come with support for reverse charging. Similar to the recently launched Narzo 70 Pro 5G, the Realme 12x 5G will also come with support for air gestures, meaning that users will be able to perform certain tasks without touching the smartphone.

US imposed sanctions on Zhao, Ni, and the Wuhan Xiaoruizhi Science and Technology Company Limited (Wuhan XRZ) for their roles in malicious cyber operations that jeopardised national security. These measures, taken under Executive Order 13694, aim to curb the abuse of computer networks by hostile actors. Remarkably, the Department of Justice announced a $10 million reward for information leading to the identification and location of individuals and entities involved in APT31's illicit activities.

BEIJING (Reuters) — China's President Xi Jinping will meet with American business leaders in Beijing on Wednesday, according to three sources with knowledge of the matter, in a follow up to his November dinner with U.S. investors in San Francisco.