China Financial News

Congress president Mallikarjun Kharge on Friday said anyone having faith in Lord Ram can visit the Ayodhya temple any day and added the BJP was attacking his party over the decision to decline the invite to the January 22 consecration ceremony as part of «a conspiracy». The Congress has never hurt any religion or guru, he said, adding it will not fall for the BJP's diversionary tactic and will continue to raise people's issues such as inflation and unemployment. Kharge and top Congress leaders Sonia Gandhi and Adhir Ranjan Chowdhury have «respectfully declined» the invitation to attend the Ram temple consecration ceremony on January 22, accusing the BJP and the RSS of making it a «political project» for electoral gain.

Shares of Tesla (NASDAQ:TSLA) are down more than 3% in pre-market trading Friday morning after the electric automaker officially reduced the price of their Model 3 and Model Y in China, with cuts ranging from Rmb6.5k to Rmb15.5k.

Analysts at Wolfe Research said in a note Friday that the Boeing (NYSE:BA) and Spirit AeroSystems (NYSE:SPR) «lows should be set prior» to the return to service of the MAX 9.

BEIJING (Reuters) — China's housing ministry and financial regulator asked local governments to better coordinate with financial institutions to provide financing support to real estate projects, as policymakers work to revive the sluggish housing market.

Europe’s governments rushed to borrow money this week, drawing record demand from global investors keen to secure bonds with solid yields while they still can.

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On December 28th, 2023, the well-known American chipmaker NVIDIA presented the GeForce RTX 4090 D to the public for the first time. The debut of this product represents a major step in NVIDIA's product offerings, particularly in light of the recent export limits imposed by the United States towards China. This new chip is designed to meet the special requirements of the Chinese market, combining performance, efficiency, and graphics that are driven by artificial intelligence capabilities.

The over-the-counter (OTC) cryptocurrency trading desk RenrenBit was founded by Zhao Dong, who is notoriously known as the «OTC King.» Zhao Dong was found guilty in China of the charges against him. In the context of China's increasing crackdown on criminal operations using cryptocurrencies, this conviction is a major event that has taken place. In the course of his actions, Zhao was involved in the facilitation of cryptocurrency and local currency trading, which is considered to be unlawful in the nation.

The Securities and Exchange Board of India is proposing to start same-day settlement from March, before moving to a real-time process in 2025. The shorter cycles will be optional for investors and run alongside the existing system where trades are settled in one day, or T+1 in industry parlance. Global appetite for quicker resolution has grown after a spike in prices of ‘meme stocks’ in 2021 left brokers like Robinhood Markets Inc.

funding round led by All in Capital and Anicut Capital. Other strategic investors who participated were Suashish Diamonds, JK Group, among other angel investors. Founded in 2022 by Sonaal Goel, Twishaa Gupta, and Kanishka Garg, Salty targets the younger generation. The fresh funds will be used to expand workforce and launch a new product range, it said.

By Clare Jim

By Xie Yu and Selena Li

BEIJING (Reuters) — China's 2023 two-way trade with Russia hit $240 billion, setting yet another new record, Chinese customs data showed on Friday, as the two countries pushed for closer economic ties even as the war in Ukraine raged on.

Microsoft overtook Apple as the world’s most valuable company on Thursday after the iPhone maker’s shares made a weak start to 2024 due to growing concerns over demand.

BEIJING — Chinese augmented reality glasses and software company Rokid this week announced it raised 500 million yuan ($70 million) in a funding round led by the government of Hefei city.

exported over 5m cars in 2023, exceeding the Japanese total. China’s biggest carmaker, BYD, sold 0.5m electric vehicles (EVs) in the fourth quarter, leaving Tesla in the dust. Chinese EVs are so snazzy, whizzy and—most important—cheap that the constraint on their export today is the scarcity of vessels for shipping them.

Investing.com-- China’s trade balance grew more than expected in December, aided by an outsized rise in exports as foreign demand improved, while the country’s imports continued to lag. 

Investing.com-- Most Asian stocks moved in a tight range on Friday as investors digested mixed inflation readings from the U.S. and China, while Japan’s Nikkei 225 index continued to blaze past its global peers.

Investing.com-- Most Asian currencies tread water on Friday, while the dollar saw little strength as traders looked to U.S. interest rate cuts this year despite a stronger inflation reading for December.

Indian commandos hunting pirates after an attack in the Arabian Sea illustrates New Delhi's «significant» expansion of a muscular maritime force reflecting global ambitions, analysts say. The commandos, deployed this month from an Indian-built warship after an attempted hijacking of a merchant bulk carrier, are part of a major increase of naval forces in seas where rival neighbour China has already long expanded its reach. «It's significant given the geopolitical context» and the aggressive «use of naval assets», said Uday Bhaskar, head of the New Delhi-based Society for Policy Studies think tank. In recent years Beijing has negotiated infrastructure deals with countries around the Indian Ocean as part of its Belt and Road Initiative, including Sri Lanka, the Maldives, Bangladesh and Djibouti, where it opened its first overseas military base in 2017, raising concerns among Indian officials. Now Prime Minister Narendra Modi, expected to be re-elected later this year, is looking to raise the global heft of India, the world's fifth-largest economy, which last year displaced China as the most populous country.

Asian shares were cautious on Friday as the escalating conflict in the Red Sea region sent oil prices surging, while slightly higher-than-expected U.S. inflation data did not dent investors' views on early and aggressive rate cuts in the U.S. and Europe.