China Financial News

China for electoral gain ahead of elections in just over two weeks' time, but again sent warplanes into the Taiwan Strait. Taiwan's Jan. 13 presidential and parliamentary election will shape the Chinese-claimed island's relations with Beijing, which over the past four years has ramped up military pressure to assert its sovereignty claims.

New York court issued a pivotal directive against Alibaba, compelling the Chinese ecommerce giant to confront a lawsuit initiated by a U.S. toymaker. The lawsuit alleges that Alibaba's digital platforms played a role in facilitating the trade of counterfeit Squishmallows, the cherished plush toys manufactured by Kelly Toys Holdings. Judge Jesse Furman, overseeing proceedings at the Southern District Court of New York, rejected Alibaba's motion to dismiss the lawsuit filed by Kelly Toys Holdings, an affiliate of Jazwares, operating under the umbrella of Alleghany Corp., a part of Warren Buffett's Berkshire Hathaway conglomerate.

India and the Philippines in the disputed South China Sea, the Chinese military on Thursday said defence cooperation between different countries should not harm the interests of third countries and regional peace. Answering a question from Chinese official media about naval exercises between an Indian naval ship and the Philippines naval vessel besides plans by France to hold naval and air drills with the Philippine Navy, Spokesman of the Chinese Defence Ministry Senior Col Wu Qian said China has taken note of the reports.

Chinese smartphone maker Xiaomi unveiled its first electric vehicle (EV) on Thursday, while also announcing the company’s ambitious goal of becoming one of the world’s top five automakers.

Investing.com — U.S. stock futures drift as a strong trading year approaches the close, while Apple is freed to sell its smartwatches, at least for now. Xiaomi looks to move into the crowded Chinese EV market, while crude prices and the dollar continue to head lower.

NEW DELHI : India is expected to sign a much-awaited deal on two more pillars of the US-led Indo-Pacific Economic Framework—clean economy and fair economy—early next year, two officials aware of the matter said. India’s law ministry is currently vetting proposals for IPEF’s clean economy and fair economy pillars, following which the commerce ministry will move for cabinet approval, the officials said. “Both the pillars are very important for the country.

Elon Musk vehemently criticized recent media coverage surrounding an incident involving a factory robot at a Tesla facility in Austin. Musk's response was prompted by reports resurfacing about a 2021 incident where an engineer was allegedly injured by a Kuka robot arm during software updates. Musk lambasted the media for linking this incident to Tesla's humanoid Optimus robots, stressing that the coverage misrepresented the nature of the accident. The incident, previously covered by outlets like the Daily Mail and The Information, detailed how an engineer working on software updates became ensnared by a factory robot, resulting in injuries. Witnesses reported the engineer being pinned and bleeding until another worker intervened by activating the emergency stop button.

Motorola's plans for the next year. The product lineup for 2024 from the Lenovo-owned company includes a fresh iteration of the Razr model, adds the report. The upcoming Razr phone is set to feature a redesigned look and incorporate artificial intelligence.

Vietnam's Ho Chi Minh City to the Australian city of Melbourne, he did not imagine he would see. He got a strange sight out of the plane window that has baffled the social media users. He uploaded it on TikTok and it has been seen more than 14 million times since early December. It is believed that he caught footage of Vietnam’s dragon fruit farms, which are lit up at night to trigger flowering and fruiting and extend the growing season.

Delhi court on Thursday extended by one day the Enforcement Directorate custody of three Vivo-India executives in connection with a money laundering probe against the Chinese smartphone-maker and others. Additional Sessions Judge extended the custody of Interim CEO of Vivo-India Hong Xuquan alias Terry, Chief Financial Officer (CFO) Harinder Dahiya and consultant Hemant Munjal on an application moved by the ED. The federal agency had earlier arrested four people — mobile company Lava International's MD Hari Om Rai, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik — in the case.

Jerry Yu is a 23-year-old student at New York University. He’s also the majority owner of a Bitcoin (BTC) mining farm in the US, fighting legal battles and various allegations.

The Hong Kong-based digital asset exchange, HKbitEX, partners with Shanghai Technology Exchange to develop asset tokenization (RWA) solutions for tech companies, supported by China’s Ministry of Science and Technology and Shanghai municipal government.

Reuters. The fatal airplane crash in January 2023 took the lives of all the 72 people on the Yeti Airlines flight, including five Indians.

Hong Kong is poised to become a leading hub for cryptocurrency exchange-traded funds (ETFs), particularly spot Bitcoin (BTC) ETFs, as anticipation grows for the approval of such ETFs in the United States. 

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Pensions plans made the political headlines in 2023 like seldom before, from Alberta’s threat to pull out of the Canada Pension Plan with more than half of the fund’s assets to Ottawa’s desire, stated in the fall fiscal update, to have the globetrotting trillion-dollar asset managers invest more at home. The Financial Post spoke to Alberta Investment Management Corp. chief executive Evan Siddall about these issues, geopolitics and how AIMCo is evolving its investment strategy for 2024 and beyond. This interview has been edited and condensed for space.

Jairam Ramesh on Thursday alleged that the government is trying to cover up the worst territorial setback in six decades against the country and Chinese troops have been denying Indian patrols access to the strategic Depsang Plains, Demchok, and other areas in eastern Ladakh since May 2020. Ramesh on X cited a post by Ladakh-based politician Konchok Stanzin, who said a landmark at the site of the legendary Rezang La battle of the 1962 Sino-India conflict in Ladakh was dismantled by the Army as part of the disengagement process with China.

By Yelin Mo and Casey Hall

Rishi Kohli, CIO - Hedge Fund Strategies at InCred Alternative Investments, told Mint that Nifty may hit the 25,000 level by the end of 2024. The market is witnessing tailwinds which can propel it to unprecedented levels.

NEW DELHI : India and South Korea are discussing joint development projects in neighbouring countries such as Sri Lanka and Bangladesh, according to persons aware of the matter. While talks are still in early stages, the development is significant as it reflects a renewed focus on bilateral relations between India and South Korea, with Seoul seen expanding its strategic interests beyond East Asia. Mint had earlier reported that South Korean president Yoon Suk-Yeol is eyeing a visit to India to push key projects and discuss strategic technologies, the Indo-Pacific Oceans Initiative and China-related matters.

BSE has surpassed ₹366 lakh crore, underscoring the significant growth and value within the market. December 2023 has emerged as the best month in terms of returns for the Indian market. The Nifty 50 has recorded a remarkable surge of over 7% within the month, constituting the most substantial monthly rally observed throughout the year.