China Financial News

Investing.com-- Shares of Chinese electric vehicle makers fell on Tuesday, tracking an overnight slide in Tesla Inc (NASDAQ:TSLA) after the world’s most valuable EV firm clocked a sharp sales decline in China. 

(Reuters) — U.S. stock index futures dipped on Tuesday as investors awaited a slew of economic data and several key events this week, including appearances from Federal Reserve Chair Jerome Powell.

Shares of Apple (NASDAQ:AAPL) fell 1.5% in premarket trading Tuesday following reports that the iPhone maker saw sharp sales declines in China’s smartphone market during the first six weeks of 2024.

Shares are mostly lower in Europe and Asia following a decline on Wall Street

China is increasing its defense budget by 7.2% this year, similar to last year's rise

Investing.com-- The Chinese government will likely need to unlock more stimulus to meet its 5% GDP target for 2024, analysts at ANZ said in a note on Tuesday.

Investing.com -- U.S. stock futures point lower, with labor market data and comments from the top Federal Reserve policymaker looming later in the week. Tesla (NASDAQ:TSLA) shares slump in after hours trading on falling deliveries of its China-made vehicles, while the price of Bitcoin rises to within touching distance of an all-time high.

By Clare Jim and Ziyi Tang

The S&P 500 finished lower yesterday, dropping by around ten bps and led lower by Apple (NASDAQ:AAPL), Tesla (NASDAQ:TSLA), and Alphabet (NASDAQ:GOOGL).

By Scott Murdoch and Clare Jim

China will formulate plans to develop emerging industries including quantum computing and continue striving to achieve self-sufficiency in technology, a government work report said. It will also step up efforts in big data and artificial intelligence (AI) and intends to launch a number of major science and technology programmes to meet major strategic and industrial development goals, the report shows.

Mercedes-Benz expects India to become its third biggest market in its 'Region Overseas' over the next 2-3 years with demand anticipated to remain strong for luxury products, according to a senior company executive. The Region Overseas for Mercedes Benz comprises 118 countries, excluding North America, Europe and China. India is the fifth largest market in the region after Japan, South Korea, Australia and Turkey. The sales gap between India and Turkey is around 8,000 units per year.

Reserve Bank of India has asked the country’s major state-owned refiners to press Persian Gulf suppliers to accept at least 10% of oil payments in rupees in the next financial year, three executives at the processors said. The move is aimed at promoting the Indian currency in international trade and cutting dependence on dollars, said the executives, who asked not to be named due to the sensitivity of the matter. The government is worried that India’s booming demand for energy will put downward pressure on the rupee, and also wants to leverage the growth in consumption to its own advantage, they said. The three refiners — Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. — have already approached oil exporters on the matter, but the suppliers are pushing back due to currency risk and conversion charges, the executives said. The central bank has asked the Indian refiners to bear part of the currency transaction charges, but they are also resisting the idea on the grounds it will erode margins, they said.

Home Office data from the UK reveals a dip in the number of study visas issued for main applicants by the country in 2023 compared to the previous year. In 2023, there were 4,57,673 study visas issued to main applicants, which represented a 5.5 per cent decrease compared with the previous year. Click & check your eligibility for immigration Find out The 2023 total was the second highest on record for a calendar year and was 70 per cent higher than the pre-pandemic year of 2019, the Home Office said.

China’s Premier Li Qiang promoted an image of confidence as he announced modest economic growth goals for the country at one of its most important political gatherings

Bitcoin's runaway rally is being driven by investors in Asia. Traders in South Korea, China and other Asian countries are responsible for roughly 70% of bitcoin trading volumes, much like they were in 2021 when bitcoin last hit such heady highs, according to crypto exchange data from The Block.

The flow of millions of small parcels into the U.S. from China thanks to the explosive growth of online shopping has caught the attention of Congress

Malaysia’s prime minister has spoken up in defense of his administration's ties with China and complained over alleged pressure by the United States and its allies on regional nations to take sides in the West’s strategic rivalries with Beijing

Shares are mixed in Asia after China's premier said the country's target for economic growth this year is around 5%, in line with expectations

China's efforts to restore confidence and rev up the economy will top the agenda during this month’s meeting of the ceremonial national legislature