China Financial News

BEIJING (Reuters) — Giant Christmas trees adorned with lights, tinsel and gift boxes greet shoppers at glittering malls in big Chinese cities like Shanghai and Chongqing, but in many parts of China, extending season's greetings is out of the question.

Ajit Banerjee, Chief Investment Officer of Shriram Life Insurance Company says he is positive about the domestic market for 2024 and expects the foreign capital inflow to continue. Edited excerpts: Indian markets have undisputedly been one of the best-performing markets in the world in the calendar year 2023 (CY23).

In this article

A recent report says that there's a 35% increase in number of Indian students in America. India sent roughly 269,000 students to American colleges, the second-highest number after China. The most common reasons for coming were graduate degrees in business, science, and technology. According to the QS World Rankings 2022, 33 of the world's top 100 universities are located in the US. Universities have state-of-the-art technology to make sure that their students are ready for the competitive workforce.

China stocks slipped on Monday, with online gaming shares extending their decline of the previous session as China's new rules to curb spending on video games dented sentiment despite regulators' latest efforts to soothe investor concerns. The Hong Kong market is closed for the Christmas holiday. ** The blue-chip CSI 300 Index slipped 0.1% and the Shanghai Composite Index was down 0.3% by the midday recess. ** China's CSI Anime Comic Game Index slumped 4.9%, extending a 10% tumble in the previous session. ** The weak sentiment towards the sector persisted despite a statement from regulators on Saturday that they would make improvements to the proposed rules after «earnestly studying» public views on them. ** The proposed rules aim at curbing money and time spent on video games, dealing a blow to the world's biggest games market and knocking the value of Tencent Holdings, Netease and other gaming stocks. ** On Monday, shares in gaming companies Giant Network Group, 37 Interactive Entertainment Network and Kingnet Network were all down their 10% daily limit. ** Stocks in the media sector tumbled 2.6%, while defence shares gained 1.6%.

China and brought blizzards in its wake, sending temperatures towards historic lows. 1)The temperature recorded at Beijing's Nanjiao weather station rose to above zero degrees Celsius on Sunday afternoon for the first time in days, state media Beijing Daily reported. 2)According to Beijing Daily, since the temperature first dropped to below zero degrees on December 11, the temperature has remained below that line for more than 300 hours.

killed over 19,000 people and left tens of thousands injured in Turkey and Syria. An earthquake of magnitude 7.8 centered in the Pazarcik district jolted Kahramanmaras and hit several provinces, including Gaziantep, Sanliurfa, Diyarbakir, Adana, Adiyaman, Malatya, Osmaniye, Hatay, and Kilis. Later in the day, an earthquake of 7.6 magnitude centred in Kahramanmaras's Elbistan district jolted the region.

Henan are facing a winter heating supply crunch after a cold wave swept through a swathe of areas, bringing blizzards and sending temperatures to near historic lows. Persistent cold snaps have put thermal power suppliers under strain in Jiaozuo, a city in Henan, with a breakdown of heating boilers in one of the major suppliers leaving some areas in urgent need of more heat supply.

G20 standing out as the country's diplomatic achievement of the year. Through its G20 presidency, India was able to get the most influential, powerful, and consequential countries of the world to gather around the table and discuss, agree on some of the most pressing issues concerning the world today. As External Affairs Minister (EAM) S Jaishankar rightfully said, the G20 is like the World Cup of diplomacy, where the biggest and strongest players come together. «When we took the presidency, people did not have many expectations out of it. Through our G20, we bridged all the divides, found a common ground for countries which were otherwise arguing among themselves, who found it very difficult to reconcile.

The epicentre of the quake straddled the provinces of Gansu and Qinghai in an area where many of China's Hui people, a tight-knit ethnic minority characterised by its distinctive Muslim identity, are found.

Tencent's «Counter War: Future» and NetEase's «Firefly Assault» were among the approved games.

South Korean coast guards – and rough sea weather – appear to have thwarted a high-profile suspected crypto price fixer’s daring effort to flee the country for China.

Mint looks at the crisis, efforts taken to contain it, and its implication for India and the world. The Yemen-based and Iran-backed Houthi militants have fired over 100 drones and missiles at ships belonging to over 35 countries plying the Red Sea. They are doing so ostensibly in support of the Palestinian cause.

OML Entertainment is driving an aggressive revenue growth strategy as it enters new international markets, grows its artist management roster, and develops diverse content for top streaming platforms, Gunjan Arya, chief executive of the company told ET. The company had a top line of over ₹330 crore in FY23 and expects a significant jump in FY 24, Arya said. In FY23, the digital entertainment company recorded a strong double-digit growth in revenue mainly on the back of its strong performance internationally in the branded content segment and tours by its artists. Arya said the company's objective in FY24 has been to maintain profitability and competitiveness in its three key verticals — artist management, content production, and brand solutions. She said OML also sees big opportunities in untapped markets like Japan and China. «Our artist management has expanded its roster with diverse talents, the OTT content segment is poised for success with upcoming releases, and our branded content initiatives continue to make remarkable strides in both domestic and international markets,» Arya said. OML, which started as an artist management company, has over the years pivoted to content production in a big way, even as it strengthens its position in the artist management and branded content segments.

Northern and northeastern parts of the country have experienced a record-breaking chill since last week, with some areas in the northeast hitting minus 40 Celsius (minus 40 Fahrenheit) and below as biting cold air flowed down from the Arctic.

Piramal Enterprises Ltd, said growth is being largely powered by public capital expenditure, which empirically has a very high multiplier effect on the rest of the economy. “However, some of the other engines of the economy need to pick up to ensure sustainability of this high growth. As far as September quarter data is concerned, private consumption, agriculture and services sectors seem to be slipping into a slow track.

NEW DELHI : Vivo India’s interim chief executive officer (CEO) Hong Xuquan, chief financial officer Harinder Dahiya and consultant Hemant Munjal were arrested by Enforcement Directorate (ED) on charges of money laundering and remanded to custody by a sessions judge in Patiala House Court for three days. The order was issued on the grounds that the executives held critical positions, played a crucial role in acquiring ₹20,241 crore as proceeds of crime, and that the executives were not cooperating with the authorities. Interim CEO Hong Xuquan was cited as a witness in the previous complaint filed by the enforcement body earlier this month.

Wall Street closed its eighth straight winning week with a quiet finish following reports showing inflation on the way down and the economy potentially on the way up

China has released draft guidelines aimed at curbing excessive spending on online gaming

American electric automaker Tesla’s plans to produce energy-storage batteries in China are moving forward with a signing ceremony for the land acquisition for a new factory in Shanghai

One of the world’s largest electrical vehicle manufacturers, China’s BYD, will open its first European EV production factory in Hungary, the country’s foreign minister said on Friday