China Financial News

The Bank of China has completed the world’s first cross-border CBDC-powered precious metals deal – a gold transaction worth some $14.1 million.

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.

of 2023, the latest World Bank data reveals. The cost of remitting money can be high, particularly via banks, the report further shows. Besides India, other top remittance recipient countries are Mexico ($67 billion), China ($50 billion), Philippines ($40 billion), and Egypt ($24 billion) Here, we explain an array of alternatives through which one can remit money to India from overseas: 1.

PTI that 19 cases of COVID-19 sub-variant JN.1 have been traced in Goa while one each in Kerala and Maharashtra. Amid an uptick in Covid-19 cases across the globe, the World Health Organisation has decided to classify the JN.1 Covid variant as the “variant of interest." However, the world heath body added that the variant does not pose much threat to public health. JN.1 (BA.2.86.1.1) variant is a descendant of the BA.2.86 lineage (Pirola) of coronavirus.

BEIJING (Reuters) — China announced on Thursday the end of tariff cuts on some chemical imports from Taiwan, accusing the island of violating a trade agreement, as Beijing keeps up its pressure on Taipei ahead of elections next month.

By Alexandra Alper

Chinese President Xi Jinping has warned his US counterpart Joe Biden that Beijing will reunify Taiwan with mainland China but that the timing has not yet been decided, NBC News reported. NBC News is the news division of the American broadcast television network NBC.

Heritage Foundation senior fellow Brent Sadler reacts to BP pausing Red Sea oil shipments after Houthi attacks on Varney & Co.

The Indian SARS-CoV-2 Genomics Consortium (Insacog), the network of laboratories set up to monitor genomic variations of the coronavirus, has so far found 21 cases of infection with the JN.1 subvariant, which the World Health Organization (WHO) has declared as a «variant of interest». Twenty of the cases with the JN.1 strain were found in Goa and one in Kerala, where it was detected first in the country on December 8.

Growth expectations among fund managers remained pessimistic, BofA found, although improved in the December survey from net 57% to 50% expecting a weaker economy.

ITC) in October, giving 60 days notice on a ban that takes effect on Christmas. Apple’s announcement that it would halt sales early has been seen as a potential last-gasp effort to force the US president’s hand, though White House interventions in such matters are rare, particularly when the row is between two US companies. The ITC is no Scrooge and Apple does have questions to answer.

import of substandard car and bike wheels come Friday as it implements the quality control order for automobile rims. The move comes with riders as some manufacturers are being allowed to import limited quantities of non-Bureau of Indian Standards (BIS) compliant wheel rims after the latest amendment to the quality control order.

Global markets: US stocks opened lower on Wednesday as investors took a breather from a rally sparked by the rate cut hopes. The Dow Jones Industrial Average fell 37.79 points, or 0.10%, at the open to 37,520.13. The S&P 500 opened lower by 3.64 points, or 0.08%, at 4,764.73.

SHANGHAI: Shanghai Disney Resort will open a Zootopia-themed attraction to the public on Wednesday aiming to capitalise on a post-pandemic desire for travel and experiences in China. Zootopia, which came out in Chinese cinemas in 2016, remains one of the highest-grossing imported animated films ever released in the country. This marks Disney's first Zootopia-themed site and the eighth themed area at the Shanghai Disney Resort which opened in 2016 and was expanded in 2018 with a Toy Story-themed attraction. While consumption in China has been slow to bounce back following the lifting of COVID-19 curbs a year ago, domestic travel and experiences have rebounded more strongly, with Shanghai Disney Resort one of the beneficiaries. «I think what you saw over the last year as people emerge from the virus is them getting out and experiencing life again,» said Joe Schott, president and general manager at Shanghai Disney Resort. In its fourth-quarter earnings last month, Walt Disney flagged higher attendance at its Shanghai and Hong Kong parks as one of the factors driving 31% growth in its Experiences division, which includes its theme parks. Shanghai Disney Resort is a joint venture in which Chinese state-owned Shendi Group holds a 57% stake. (Reporting by Casey Hall; editing by Jason Neely)

industry by storm. Handsets with on-device GenAI capabilities are set to cross 100-million shipments in 2024 and reach 552 million units by 2027, accounting for 40% of the global market, a report by Counterpoint Research has said. “The share of GenAI smartphones in the overall smartphone market will be in single digits through next year.

Chinese scientists claim they received an ominous signal hours before Monday night's 6.2 magnitude earthquake but were not sure where exactly it would strike, it emerged on Wednesday. So far 131 people are confirmed dead and over 700 others injured in Gansu and Qinghai after the quake, the deadliest in nine years, hit the two provinces. While predicting earthquakes has almost appeared to be a mission impossible, researchers in the Chinese province of Shaanxi claim to have developed a groundbreaking technique that has allowed them to forecast successfully every tremor with a magnitude of 7.0 or more that struck around the globe in the past 10 years.

China’s Ministry of Industry and Information Technology has published a document outlining its current and future work on developing Web3 and related technologies, including metaverse, non-fungible tokens (NFTs), and decentralized apps (dapps).

Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year. The world's biggest exporter of onions banned shipments on Dec. 8 after domestic prices more than doubled in three months following a drop in production. Now retail shoppers from Kathmandu to Colombo are struggling with high prices, since traditional Asian buyers, such as Bangladesh, Malaysia and Nepal, and even the United Arab Emirates, rely on imports from India to bridge domestic gaps.

Also Read- Outlook 2024: How equities, gold and crude oil will perform next year The Petrochemical prices too have remained volatile and unfavorable for petchem producers as concerns on rising supplies from China have dampened prospects. The refining margins too have remained volatile. Overall the key heavyweights such as Reliance Industries have not seen any major uptick in stock prices during 2023 and this also has weighed on Oil & Gas index performance.

The Chinese central government has revealed plans to create a strategic document to guide the development of China’s Web3 ecosystem. 

The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning regarding two crypto firms suspected of engaging in fraud.