China Financial News

A leading Russian economist has claimed that American sanctions will ultimately undermine the role of the US dollar in the global economy – and help the cross-border adoption of the digital ruble.

Investing.com — It’s set to be an action-packed week in markets with the Federal Reserve’s first meeting of the year, a flurry of big tech earnings and the latest U.S. jobs report. The Bank of England also holds its first policy meeting of 2024 while data out of China is expected to remain gloomy. Here’s what you need to know to start your week.

By Clare Jim

China has ramped up its digital yuan work over the last year, while the ECB is now in the preparation phase for a digital euro and India is seeing a million transactions per day processed by commercial banks throughout the country for the digital rupee. Yet in the US, the Federal Reserve has been cautious about pushing ahead with pilots and several governors have expressed scepticism about the need for a CBDC. This month, Donald Trump vowed to prevent the creation of a digital dollar if he wins the US presidential election, calling a CBDC a "dangerous threat to freedom". Josh Lipsky and Ananya Kumar from the Atlantic Council’s GeoEconomics Centre warn that technological payments innovation at the Fed is lagging behind its peers and competitors.

SHANGHAI (Reuters) -China's securities regulator said on Sunday that it will fully suspend the lending of restricted shares effective from Monday, in policymakers' latest attempt to stabilise the country's stock markets following recent sharp falls.

SINGAPORE (Reuters) -Small Chinese investors are scrambling even harder than foreigners to exit the country's crumbling stock markets, sending premiums on global index funds skyrocketing as they search for exposure to anything but the sputtering domestic economy.

Dera Bugti (Balochistan): Exposing the atrocities of the Pakistan Army, the Baloch Republican Party has claimed that the labour quarters of Sui town in Dera Bugti district have been sealed by the enforcement agencies. Taking the matter to the social media platform 'X' on Sunday, the spokesperson of the party, Sher Mohammad Bugti, claimed that so far, 150 people have been taken into custody by the law enforcement agencies of Pakistan at the Sui Gas field.

By Jamie McGeever

HEFEI, China: Ultramodern factories churn out electric cars and solar panels in Hefei, an industrial center in the heart of central China. Broad avenues link office towers and landscaped parks. Subway lines open at a brisk pace. Yet at Hefei's market for construction materials, local merchants are gloomy. Wu Junlin, a vendor of doors, has closed two of his three stores and laid off all but one of his dozen employees.

GenAI) and projected to nearly triple spends on this technology to USD 3.4 billion in 2024 across Australia, New Zealand, China, Japan, India, and Singapore, according to Infosys Research. While the spending trails North America, APAC's adoption, effectiveness, and growth are among the highest globally, it said. «Companies across Asia-Pacific are quickly ramping up investments in generative AI and entering a higher stage of maturity,» the IT major's research arm, Infosys Knowledge Institute (IKI), said in the research.

release date, expected price, etc.

China's industrial firms fell 2.3% in 2023, their second straight yearly decline, due to sluggish demand at home and abroad, adding pressure on economic growth amid a deep property slump and deflationary risks. The drop followed a 4.4% profit fall in the first 11 months from the same period a year earlier, according to data from the National Bureau of Statistics (NBS) on Saturday.

The Congress leader was speaking at a talk show at the Kolkata International Book Fair. According to the report, he said that while relations with Maldives at present are not good, that with Sri Lanka was not too bad, while that with Bangladesh is pretty good. "Relations with Pakistan are in bad shape, Nepal is more and more subject to Chinese influence and Chinese influence is also increasing in Bhutan," Tharoor said while talking about India's position vis-a-vis smaller countries in the periphery.

Ubuy has said that it has joined forces with Canadian fintech company Nuvei Corporation to expand its global footprints. The company said the collaboration will empower Ubuy to tap into Nuvei’s alternative payment methods (APMs) and leverage the fintech company's global reach and local payment market expertise. The integration with Nuvei will allow Ubuy to enter new markets seamlessly.

Also Read: Red Sea crisis: UK oil tanker catches fire with 22 Indians onboard after Houthi missile attack; Indian Navy responds Supply concerns are evident in the structure of Brent futures. The premium of the first-month contract to the sixth on both Brent and WTI rose to the highest since November, indicating a perception of tighter prompt supply, according to news agency Reuters.

China on Saturday said that top diplomat Wang Yi and US National Security Advisor Jake Sullivan held «candid, substantive and fruitful» talks in Thailand's capital Bangkok, where issues including Taiwan were discussed. Beijing and Washington have clashed in recent years on flashpoint issues from technology and trade to human rights, as well as over the self-ruled island and competing claims in the South China Sea.

Preeti Rajak, who is a champion trap shooter, has become the first woman to hold the rank of Subedar in the Indian Army after she was promoted on Sunday. Subedar Rajak joined the Army in the Corps of Military Police in December 2022. «In a proud moment for the Indian Army as well as women of the country, today Havildar Preeti Rajak, trap shooter, was promoted to the rank of Subedar,» the Army said.

BANGKOK (Reuters) — Chinese Foreign Minister Wang Yi had «candid, substantive and fruitful strategic communication» with U.S. National Security Advisor Jake Sullivan, aimed at furthering a pledge of dialogue by their leaders, China's foreign ministry said on Saturday.

The Express Tribune newspaper reported. According to the report, in a letter to Chinese Premier Li Qiang, caretaker Prime Minister Anwaarul Haq Kakar has requested his counterpart to roll over the debt as soon as the deposit time for the loan from China is completed on March 23.

Pakistan has sought financial assistance of USD 2 billion from its close ally China for a year, according to a media report on Saturday. Caretaker Prime Minister Anwaarul Haq Kakar, in a letter, has requested his Chinese Premier Li Qiang to roll over the debt as soon as the deposit time for the loan from China is completed on March 23. In his letter, Kakar expressed gratitude to China for its financial assistance to Pakistan during its economic crisis as the cash-strapped country has secured a safe deposit of a total of USD 4 billion in loans from China, reducing the country's mounting pressure on external debt payments and stabilising its foreign exchange reserves, The Express Tribune newspaper reported.

BEIJING (Reuters) — China's major southern city of Guangzhou fully relaxed home purchase limits for some people on Saturday and said it would increase affordable housing supply, in a move to support the local property market.