China Financial News

China’s central bank has called on global financial authorities to regulate the digital asset and decentralized finance (DeFi) markets in its recent financial stability report. 

Reuters report, nearly $80 billion was wiped off from the market value of from China's two biggest gaming companies. The government of China has decided to prohibit online games from bestowing rewards upon players for routine daily logins, inaugural financial transactions within the game, and successive instances of spending.

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Chinese automaker, BYD (SZ:002594) announced Friday that the company has decided to build a new energy vehicle production base in Hungary.

US Commerce Department will begin gathering information on Chinese production of legacy semiconductors chips that aren't cutting-edge but are still vital to the global economy as it looks to track how deeply reliant US companies have become on the technology from China. In January, the agency's Bureau of Industry and Security will survey more than 100 companies in autos, aerospace, defense and other sectors to understand how they procure and use legacy chips, according to a Commerce official.

Joe Biden on Friday signed an executive order threatening penalties for financial institutions that help Russia circumvent sanctions, the White House said in a statement, as Washington seeks to increase pressure on Moscow. The order also gives Washington the ability to broaden import bans of certain Russian goods, such as seafood and diamonds, the White House said.

The ‘big four’ reduced their one-year deposit rates by 10bps to 1.45% and three-year rates were cut by 25bps to 1.95%, their lowest levels since 1996.

By Khushi Singh, Ankika Biswas and Sruthi Shankar

By Scott DiSavino

Investing.com – Main U.S. indexes rose Friday in light volume ahead of the Christmas holiday as inflation data lifted hopes the Fed will begin lowering interest rates in the first quarter of next year.

New York Times said. The report, substantiated by satellite images claims to confirm the concerns around China's old base Lop Nur. The base where China detonated its first atomic bomb nearly 60 years ago has recently seen some massive infrastructural installments which include a deep vertical shaft.

debt could be 100% of GDP by FY28, stating that centre and states were on path of consolidation and the general govt debt is expected to decline substantially in the medium- to long-term. The government noted that the IMF staff report had presented the figures as a worst-case scenario and was not a ‘fait accompli’. “It is also noteworthy that the same report indicates that under favourable circumstances, the General Government Debt to GDP ratio may decline to below 70 per cent in the same period.

Investing.com-- Shares of Chinese gaming giant Tencent and smaller peer Netease fell sharply on Friday after authorities unveiled more regulations aimed at curbing player spending on online gaming.

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Investing.com — Nike (NYSE:NKE) reported second-quarter results that beat analysts' expectations, but the sportswear giant tempered expectations, warning of a softer second-half outlook for revenue as it looks to streamline operations to cut costs.

UBS technical analysts have a bearish outlook on equities for the first half of the next year, although they expect to see a buying opportunity moving in the third quarter (Q3) as part of the next regular 4-year cycle bottom.

It is one of the first statistics you will encounter in an economics class. Gross domestic product per capita, the size of the economy divided by population, is the go-to data point for comparing living standards and prosperity across countries and over time. Yet as the world ages, GDP per capita is becoming less useful.

Japan on Friday finalised its record 7.7 trillion yen ($54.25 billion) defence budget for fiscal 2024, the second consecutive year in which the country increased defence spending by about a trillion yen from the previous year. The approved budget keeps Japan on track to boost military spending by 43 trillion yen over five years as it seeks to bolster defences in a complex security environment with an increasingly assertive China and unpredictable North Korea. The 2024 budget for the year starting April represents an increase of about 17% from the previous year's spending of 6.6 trillion yen. It includes over 200 billion yen to strengthen cyber capability as well as funding to start building ballistic missile defence warships with Aegis combat systems, the defence ministry said, estimating the cost per vessel at about 400 billion yen. A collapse in the yen has complicated Japan's defence build-up, sources previously told Reuters, forcing the government to initially reduce its defence procurement plan as the currency has lost 10% of its value against the U.S.

air pollution worsened in 2023, the first time it has done so in a decade, a study released on Friday said. «2023 is the first year that China's national average PM2.5 level has increased year-on-year since the beginning of China's 'war on pollution' in 2013,» a study by independent research organisation the Centre for Research on Energy and Clean Air (CREA) said.

online gaming industry, sending shares in tech giants including Tencent tumbling. New draft restrictions published online by the regulator are aimed at limiting in-game purchases and compulsive playing behaviour.

₹8,600 crore, that are disrupting various sectors and attracting global investors. In 2022, India added 14 new unicorns, taking the total count to 100, ranking third globally behind the US and China. However, unlike their counterparts in other countries, most of these unicorns have not gone public yet, preferring to raise funds from private sources.