China Financial News

Chinese automaker BYD plans to build a new electric vehicle plant in Hungary, its first car factory in Europe, as part of its rapid global expansion

Asian Para Games 2023 in Hangzhou. They ended their campaign in fifth place on the medals table with 111 medals — 29 gold, 31 silver and 51 bronze. The Asian Para Games 2023 was India's best-ever medal tally at the continental multi-sport event after passing the previous record of the 2018 Asian Para Games, where they clinched 72 medals, including 15 gold, from the 2018 Asian Para Games. Only China, Iran, Japan and the Republic of Korea were ahead of India in the medal tally of the multi-sport event.

Micron Technology Inc. has settled a high-profile intellectual property theft lawsuit with a key, state-backed Chinese rival amid the US company’s efforts to mend ties with Beijing. Micron said it has reached a global settlement agreement with Fujian Jinhua Integrated Circuit Co. “The two companies will each globally dismiss their complaints against the other party and end all lawsuits between them,” a Micron spokeswoman said in an email, declining to provide further details.

Hindalco Industries has seen its share price rise more than 20% during the period. Also Read- HFCL share price locked at over 7% upper circuit to hit 52-week high mark: What drove the rally? Nevertheless, on the Global front the demand growth has remained muted (around 2% in 2023 as per ICRA estimates). While the global copper demand was expected to get a boost by the opening up of China economy post easing of Covid-19 curbs at the start of 2023, the same however did not happen leading to disappointment.

Click here to read the full report Apple has begun ramping up production of its Vision Pro mixed reality headsets at the company's facilities in China in recent weeks, with the goal of having customer-bound units ready by the end of January, while the headset could be launched in February, Bloomberg's Mark Gurnman noted in a recent report, citing sources. However, the report noted that last-minute production problems and other issues could derail the planned launch schedule.

Vivo has termed as “continued harassment” the recent arrests made by the enforcement directorate in the prevention of money laundering probe against Chinese smartphone major. The comments came after three more executives, including interim CEO Hong Xuquan and chief financial officer of Vivo’s India operations, were held on Saturday. «We are deeply alarmed by the current action of the authorities.

Ashi Anand, Founder & CEO, IME Capital, says “we are seeing a larger risk on trade, FII flows are starting to come back in. It is really the context of the current strength in metals. But from a slightly longer-term perspective, the Chinese economy is really struggling and importantly, it is the housing sector in China which is really struggling the most. Just two days ago, a Chinese developer went bankrupt. Now, China has been the core driver of global demand for metals and if the biggest demand driver is really going to be weak, it is really difficult to build any kind of longer-term fundamental call on at least the core metals.” A lot of interest in the IPO market and considering you track this space closely, any business that you have liked, any IPO that you have subscribed to? Ashi Anand: Yes, we are tracking the IPO space. There are certain interesting IPOs coming up. There are certain D2C brands which are coming up. There are certain other digital platforms. So, it is a space that we are tracking. The only problem is the IPO market is probably a bit too hot. Participation is probably being too high. There is a large amount of IPOs which probably are not of that high quality seeing very large subscription numbers.

Taiwan's defence ministry said on Sunday that over the previous 24 hours it had detected eight Chinese fighter jets crossing over the median line of the Taiwan Strait, as well as one Chinese balloon. Taiwan, which China claims as its own territory, has repeatedly complained of Chinese military activity around the island over the past four years. China has been stepping up its missions near Taiwan as the Jan. 13 presidential and parliamentary elections on the island approach. Taiwan's defence ministry said the Chinese J-10, J-11 and J-16 fighter jets had crossed the median line at points to the north and centre of the strait. The median line once served as an unofficial barrier between the two sides, but Chinese planes now regularly fly over it. Taiwan sent its own forces to monitor, the ministry said. The ministry also reported another Chinese balloon in the strait, the latest in a spate of what Taiwan says are most likely for monitoring the weather, driven by prevailing winds at this time of year. It said the balloon was spotted after crossing the median line late on Saturday morning 97 nautical miles (180 km) northwest of the northern Taiwanese port city of Keelung at altitude of approximately 20,000 feet (6,100 metres). The balloon headed east and disappeared around one hour later, the ministry added. The potential for China to use balloons for spying became a global issue in February when the United States shot down what it said was a Chinese surveillance balloon.

India along with Russia and China have voted against a UN resolution on the "human rights situation in Iran". While the resolution was backed by 78 member states, 30 states including India, Russia and China, voted against it. Simultaneously on the same day, India abstained on a UN resolution on the «situation of human rights in the temporarily occupied territories of Ukraine». It joined 79 countries from across the continents in doing so.

XIAN (Reuters) — Chinese electric car maker Nio (NYSE:NIO) on Saturday unveiled a flagship model featuring self-developed technologies including semiconductors, betting they would help prop up earnings, as a bruising price war and slowing car demand weigh on profitability.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Nio raises $2.2B; Mullen’s third reverse split; and tearing it up with tariffs.

social stability, security officials across China have shut down 34,000 online accounts for spreading rumours and punished more than 6,300 people since the start of a crackdown campaign in April. Over 4,800 cases have been handled, with more than 6,300 people punished, Li Tong, an official with the Ministry of Public Security said. Officials across the country have shut down 34,000 online accounts for spreading rumours, Li said.

Enforcement Directorate has made three more arrests related to money laundering probe against Chinese smartphone-maker Vivo and some others, official sources said. The three have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA), the officials told PTI.

Karti Chidambaram told reporters the Chinese Visa case was ‘dead, dormant, and closed’. Congress MP Karti Chidambaram is accused of receiving ₹50 lakh to facilitate the issuance of visas for 263 Chinese nationals, so that they could complete work on power project in Punjab. Calling his appearance before the investigative agency a ‘routine affair’, Karti Chidambaram noted that it was his 20th appearance before the Enforcement Directorate.

Taiwan reported Chinese warplanes and warships around the island on Saturday, including aircraft crossing the sensitive median line of the Taiwan Strait, as Beijing continues military activities with three weeks to go before Taiwan votes. Democratically governed Taiwan, which China claims as its own territory, has complained for four years of regular Chinese military patrols and drills near the island. Campaigning is under way for Taiwan's Jan. 13 presidential and parliamentary polls.

natural disasters that left a profound impact. From the powerful Hurricane Otis striking Mexico's coast to China grappling with unrelenting monsoons and Libya facing overwhelming floods, the year unfolded with immense challenges. Turkey-Syria Earthquake: On February 6, southern Turkey had a big earthquake, measuring 7.8.

Both these expectations went wrong, and despite money supply shrinking the world over, the world GDP grew higher than expected driven by Japan and the US, which recorded 4.8-4.9% GDP growth in certain quarters higher than EM. With the US expected to end 2023 with a 2.6% growth in its GDP and Japan at 2%, the world economy expanded as against witnessing a “recession”. This came at the cost of higher fiscal spending, however.

Chris Miller, author of Chip War: The Fight for the World's Most Critical Technology, a geopolitical history of the computer chip, is one of the global voices on the Chip industry ecosystem. Miller who also serves as Associate Professor of International History at the Fletcher School, where his research focuses on technology, geopolitics, economics, international affairs, and Russia, in an exclusive interview with ET Online Miller explains how ‘Chip Wars’ became real and India’s role in the semiconductor ecosystem.

Karti Chidambaram appeared before the Enforcement Directorate on Saturday in a money laundering case linked to the issuance of visa to some Chinese nationals in 2011, official sources said. The ED case pertains to the allegations of Rs 50 lakh being paid as kickbacks to Karti and his close associate S Bhaskararaman by a top executive of the Vedanta group company Talwandi Sabo Power Ltd.

Prime Minister Justin Trudeau says the amount of military aid NATO allies have been shipping to Ukraine to help its fight against Russia’s invasion means “everyone is in big trouble” with military supplies.

decision to leave the Organization of the Petroleum Exporting Countries could open the way for Beijing to increase investment in the country's oil and other sectors, as part of a deepening of decades-old ties. Angola said on Thursday it was leaving OPEC, effective from Jan. 1, following a row with the producer group over the size of its output quota.