China Financial News

rose around 20 per cent in 2023, logging their second-best year since 2017. D-Street investors added a significant ₹81.90 lakh crore to their wealth in 2023 powered by a stellar rally in stocks. The bull run was supported by sustained domestic mutual fund inflows, foreign capital inflows, better-than-expected economic growth, and robust corporate earnings.

Xi Jinping's military modernization drive amid geopolitical tensions, analysts say. China's top lawmakers ousted nine senior military officers from the national legislative body on Friday, state media reported, a step that typically precedes further punishment for wayward cadres. Many of these were from the Rocket Force — a key arm of the PLA overseeing tactical and nuclear missiles. The purges are a setback for Xi who has pumped billions into buying and developing equipment as part of his modernising efforts to build a «world-class» military by 2050, with Beijing's outsized defence budget growing at a faster pace than the economy for some years. The recent downfall of generals and military equipment suppliers, however, has punctured some of this aura, and raised questions over whether there has been adequate oversight over these massive military investments as China vies with the United States in key areas, including Taiwan and the South China Sea. Since Xi took power in 2012, he has embarked on a wide-ranging anti-corruption crackdown among Communist Party and government officials, with the PLA being one of its main targets. The nine PLA generals removed from the legislature hailed from several military divisions; three were former commanders or vice commanders of the PLA Rocket Force; one a former Air Force chief and one a Navy commander responsible for the South China Sea. Four officers were responsible for equipment. «It is a clear sign that they are being purged,» said Andrew Scobell, Distinguished Fellow for China at the United States Institute for Peace.

Vivo India Hong Xuquan alias Terry, a Chinese national, Chief Financial Officer (CFO) Harinder Dahiya and consultant Hemant Munjal were earlier arrested by Enforcement Directorate under the provisions of the Prevention of Money Laundering Act (PMLA). The executives were arrested in connection with its money laundering probe against the Chinese smartphone maker and some others. The federal agency had earlier made four arrests in the case which included mobile company Lava International's MD Hari Om Rai, Chinese national Guangwen alias Andrew Kuang and chartered accountants Nitin Garg and Rajan Malik.

NewsClick case: A team of Delhi Police has gone to Mumbai to question activist Gautam Navlakha in connection with probe into NewsClick's alleged foreign fundings and anti-India activities, an official said on Saturday. Navlakha will be questioned at his house in Navi Mumbai's Agroli, an official said, adding that the team is led by an assistant commissioner of police (ACP)-level officer.

This is your weekly digest of top crypto news from Cryptonews.com, followed by a collection of 20 hand-picked crypto jokes.

CNN reported. This connection emerged as one of how the US intelligence agencies were able to track the balloon's location and gather crucial information during its transit. While the identity of the specific internet service provider remains undisclosed, CNN was informed that the balloon could communicate with Beijing as it crossed the US.

Travelers, truckers and shippers worldwide can thank the U.S. for helping keep a lid on oil and gasoline prices this year. A year ago, Wall Street analysts were predicting the international benchmark for oil prices would surge from around $85 a barrel to well over $100 in 2023.

China faces a problem familiar to dictatorships throughout history: how to strike a balance between growth-boosting innovation, which thrives in a free society, and the paranoia of an authoritarian state. Its leader, Xi Jinping, wants the country to become a hyper-advanced economy. His government is aggressively promoting the commercialisation of high technologies it likes, from electric vehicles to quantum computing.

China wants to extend its lead in global shipbuilding to a new generation of vessels that burn cleaner fuels. The nation is targeting building more than half of global vessels powered by lower-carbon fuels including liquefied natural gas and green methanol by 2025, according to a joint statement released by the Ministry of Industry and Information Technology and four other departments. The goal is in line with Beijing’s plans to future-proof its massive industrial complex by focusing on sectors that will gain prominence as the world tries to reduce emissions over the next few decades.

equities in 2023 were the highest ever in a calendar year as optimism over the economy's prospects in a slowing world, the US Federal Reserve's signal that it will cut rates in 2024 and expectations of the Bharatiya Janata Party returning to power in the next year's general elections drove a flood of money into stocks here. Market watchers said overseas investors may be less enthusiastic about pumping similar amounts into Dalal Street in the new year with rich share valuations seen as the key deterrent to large allocations. Foreign portfolio investors poured ₹1,74,663 crore into the domestic stock market in 2023, bettering the previous record of ₹1,72,849 crore in 2020.

The coveted and highly specialized software tool, known by its initials of OPC, is used in the design of many microchips and is crucial to the design of advanced chips.

India has banned ByteDance-owned TikTok and several other Chinese apps, there is one company based there that’s very active in the country — BabyBus. Experts have raised questions over the handling of Indians’ data by the company that provides customised free digital content primarily for children up to age eight through over 200 gaming apps.

BEIJING (Reuters) -Chinese online retailer JD (NASDAQ:JD).com said on Friday that it won a lawsuit against rival Alibaba (NYSE:BABA), which was fined 1 billion yuan ($140.68 million) for monopolistic practices.

It was a tumultuous 2023 for the Chinese economy

A judge in New York has ruled that Alibaba must face a lawsuit by a U.S. toymaker alleging that the Chinese ecommerce giant's online platforms were used to sell counterfeit Squishmallows

South Korea’s top court has ordered a third Japanese company to compensate some of its former wartime Korean employees for forced labor

U.S. stock futures are little changed Friday as the market puts the wraps on a year of surprisingly robust gains

The Consumer Product Safety Commission has ordered a recall of toys sold at Walmart

Chinese electric vehicle maker, XPeng (NYSE:XPEV) announced Friday that the company has successfully rolled out its XNGP Advanced Driver Assistance System (ADAS) for customers in 27 more cities. expansion includes prominent cities such as Tianjin, Chengdu, Xi'an, Wuhan, and Changsha.

Quiver Quantitative — The year 2023 emerged as a period of surprising market resilience, defying Wall Street's grim forecasts and manifesting a significant stock rally. Contrary to expectations, the S&P 500 (SPY) and Nasdaq 100 (QQQ) experienced significant gains, with the latter achieving its best performance since the dot-com era. This upsurge reflects the enduring impact of consumer demand that has been driving growth and inflation since the pandemic's onset.

tweeted, "Earthquake of Magnitude:4.6, Occurred on 29-12-2023, 22:01:19 IST, Lat: 25.14 & Long: 96.54, Depth: 120 Km ,Location: 208km E of Ukhrul, Manipur, India." No casualties have been reported as of yet. Further details are awaited. Earthquake in Manipur came days after tremors jolted Assam on December 27.