China Financial News

WASHINGTON—U.S. lawmakers are mounting their most serious attempt to effectively either ban popular video app TikTok or separate it from its Chinese owner, advancing a bill that has more political momentum than previous attempts. As lawmakers prepared to consider the legislation on Thursday, users of the app, which is accessed by more than 170 million Americans, saw notifications urging them to complain to their House representative about the bill.

BEIJING — Foreign visitors to China can now spend up to $2,000 a year using the mobile app Alipay without having to register their ID, the app operator said Friday.

European shares are mostly declining, but Asian benchmarks finished higher after U.S. stocks climbed to records

China has reported large increases in arrests and cases of phone and internet scams last year, as leaders showcase the ruling Communist Party's determination to safeguard national security and public order

BEIJING (Reuters) -China's pure electric vehicle sales slowed in January-February from the same period a year earlier, industry data showed on Friday, as competition intensified with market leader BYD (SZ:002594) heading a deeper round of price cuts.

skillsets of employees as the nature of work is changing. Companies are taking care to embed a culture of learning so that the process is continuous. According to LinkedIn’s recent Workplace Learning Report, 94% of companies that took part in the survey said it plans to enhance employees’ skills in 2024. The survey was conducted by Censuswide with a sample of about 4,323 hiring managers (middle management) aged 18-77 years in countries such as the UK, Ireland, France, Germany, Italy, Spain, the USA, India, Australia, Singapore, Japan, Indonesia, China, the Netherlands, Sweden, MENA and Brazil. The data was collected between the middle of December and early January 2024.

The Energy and Commerce Committee 50-0 vote represents the most significant momentum for a U.S. crackdown on TikTok, which has about 170 million U.S. users, since then President Donald Trump unsuccessfully tried to ban the app in 2020.

China's unfair economic practice, standing up for peace and stability across the Taiwan Strait and revitalising its partnership with nations like India, US President Joe Biden has said. In his last State of the Union address before the November election, Biden said the US wants competition with China, but not conflict. Biden on Thursday told Americans that the country is in a stronger position to win the competition for the 21st Century against Beijing.

China unleashed the full might of its solar energy industry last year. It installed more solar panels than the United States has in its history. It cut the wholesale price of panels it sells by nearly half. And its exports of fully assembled solar panels climbed 38% while its exports of key components almost doubled. Get ready for an even bigger display of China's solar energy dominance. While the United States and Europe are trying to revive renewable energy production and help companies fend off bankruptcy, China is racing far ahead.

Japan's and India's foreign ministers have agreed to step up security and economic cooperation as the two Asian countries look to boost their ties in the face of China's growing influence in the region

By Lewis Jackson and Stella Qiu

When China launched the Yaogan-41 satellite into space late last year, it travelled further than most such objects. Reconnaissance satellites tend to sit in low-Earth orbit (LEO), whizzing around the planet between 11 and 16 times a day (see chart 1). But Yaogan-41 headed for higher ground, some 36,000km from the Earth.

Also Read: 'I will not bow down': US President Joe Biden tells Russia's Vladimir Putin at State of the Union address 2024 Representative Mike Gallagher, the Republican chairman of the House select China committee, and Representative Raja Krishnamoorthi, the panel's top Democrat, introduced legislation to address national security concerns posed by Chinese ownership of the app. The bill would give ByteDance 165 days to divest TikTok; if it did not, app stores operated by Apple, Google and others could not legally offer TikTok or provide web hosting services to ByteDance-controlled applications.

Manish Gunwani, Head — Equities, Bandhan AMC, says “there seems to be a fairly significant shift of sourcing from China and other countries to India. The good part is that in a lot of these segments, India has a big domestic market. So the expertise gets built and a lot of the companies are part domestic part exports. So one is just not playing only the domestic capex cycle, especially for the product makers. One is also playing this optionality that in a very big global market, they may become fairly large companies.” You have been talking about capex and infrastructure, stepping into elections. What is your narrative on the entire capex theme? And what happens post that if the government continues, which seems to be likely and the market also seems to be pricing it as of now? In that case, focus would be on private capex picking up because up until now, we have been running on government capex push. Manish Gunwani: This is not a very broad based capex theme like during 2002-2008, both in India and globally. For example, if commodity prices are soft, you cannot expect too much of capex from the steel guys, from the upstream oil and gas guys etc. But there are segments, obviously, like energy transition and power which are doing well.

By Katya Golubkova

Vivo and Oppo are appointing Indian distributors in each state as the primary source of product supply to the trade to help resolve a long-standing point of conflict with the Centre. The aim is to localise the distribution structure in India, two industry executives said. Vivo and Oppo are the largest brands of China's biggest smartphone manufacturer BBK Group. Until now, the brands had one or two Chinese-owned and managed distribution companies in each state, referred to as agents. They would in turn channel goods to retailers through local distributors. From next month, Vivo will scrap its agents in Delhi, Punjab and Haryana, having put in place Indian distributors for these states. Lens on Chinese companies

NEW DELHI : Rating agency Moody's on Thursday raised its forecast for India's GDP growth in FY24 to 8% from 6.6% on the back of strong government expenditure and domestic consumption. The upgrade comes a week after the rating agency raised its forecast for India's GDP growth in calendar 2024 to 6.8% from 6.1%.

₹15,000 crore. Under the plan, five prototypes of the AMCA will jointly be built by the Aeronautical Development Agency (ADA) and state-run Hindustan Aeronautics Limited (HAL) with support from private industries.

By David Shepardson

By Jamie McGeever

Netflix has released the final trailer of «3 Body Problem», an expected adaption of Chinese science fiction writer's bestselling novel The Three Body Problem. Netflix launched the final trailer in its social media handles with the caption, «You aren't prepared for what is coming.» The release date of March 21 has been announced in the same caption.