China Financial News

China's south province of Guangdong faced rare snowfall while temperatures in the chilly north dropped to historic lows for the month. Also Read: China detects 7 infections of COVID subvariant JN.1; is this a variant of concern? Here are the details In China's northern areas, the mercury fell to historic lows below zero in northern areas. The extreme weather resulted in blocked roads, rail, and air transport.

global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that artificial intelligence (AI) is here to stay and it will be beneficial if India prepares for it.

Meanwhile, China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. Xu Tianchen, senior economist at the Economist Intelligence Unit, said the data would be alarming for policymakers and cited three main factors behind it: falling global energy prices, the fading of the winter travel boom and a chronic supply glut. Early this month, rating agency Moody's downgraded the outlook for China's economy from 'stable' to 'negative' owing to persistently lower medium-term economic growth and the ongoing downsizing of the property sector in the country. China is struggling with grave portends for its economy which has been for long the toast of the world. China’s economy will slow next year, with annual growth falling to 4.5% from 5.2% this year despite a recent recovery spurred by investments in factories and construction and in demand for services, the World Bank said in a report last week. While it was briefly seen to be emerging strongly out of the Zero-Covid policies, the hope was short lived. The ongoing real estate crisis has dampened the consumer spirit, huge debt is weighing down the economy, foreign investors are losing confidence and unemployment and deflation are dogging the world's second-largest economy. Add to that President Xi Jinping's crackdown on private business. While China is not heading towards a collapse, its miracle growth is now a thing of the past.

BEIJING (Reuters) -China's economy is expected to see more favourable conditions and more opportunities than challenges in 2024, state media said citing officials of the Chinese Communist Party's finance and economy office.

Investing.com — U.S. futures largely edged higher Monday at the start of the final full trading week of the year, continuing the recent rally with more Fed policymakers due to speak.

Investing.com -- U.S. stock futures are in the green prior to the beginning of the last full trading week before the Christmas holiday, with investors eyeing the outlook for potential Federal Reserve interest rate cuts next year. Elsewhere, gene-sequencing group Illumina (NASDAQ:ILMN) announces plans to divest blood cancer-test seller Grail following intense antitrust scrutiny and shares in China's SenseTime slip after it announces the death of its founder.

IndusInd Bank and IT companies such as Infosys. Meanwhile, among the top picks are also Hero MotoCorp, Piramal Enterprises, and Zomato (being a new addition to the list). Going ahead, the brokerage predicts a turning point in the rate cycle, with the Fed's dovish comments indicating three rate cuts in CY24.

Narendra Modi seems certain to extend his rule to 2029; and Donald Trump could return to the White House despite charges of subverting U.S. democracy. For those who worry that authoritarian rulers are firmly in the ascendant over more liberal democrats, there is likely to be much to fret about in 2024.

coronavirus, named JN.1, has been detected in a woman from Kerala, raising concerns about the ongoing battle against Covid-19. The Indian government confirmed the presence of the JN.1 sub-variant on December 16, marking the first case of its kind in the country.

Vivo X100 and Vivo X100 Pro are set to include a MediaTek Dimensity 9300 SoC, triple rear cameras with Zeiss branding, a V3 imaging chip, and an 8T LTPO display. While the precise launch date remains undisclosed, the release is anticipated to take place in January. Vivo X100 series: Expected price As per a report by Gadgets 360, given that the Vivo X100 and Vivo X100 Pro were introduced in Hong Kong with price tags of HK$7,998 (approximately Rs.

Tencent Holdings is relying on one-time bitter rival ByteDance to promote its most important video game release in years, in a sign of warming relations as well as intensifying competition as China's gaming industry returns to growth. Tencent released on Friday mobile party game "DreamStar" that it hopes to challenge «Eggy Party», a similar offering from NetEase which has become a surprise hit this year with 100 million monthly active users.

China has aimed to diminish dependence on foreign technologies by urging state-affiliated entities, including banks, to transition to local software and fostering the development of domestic semiconductor chip manufacturing, adds the report. In the past month or two, employees in various state firms and government departments across at least eight provinces have been directed to use local brands, according to the Bloomberg News report.

However hard it is, the market-coming-of-age of many of those co-founders took years, under the shadow of the lead founder. Many of them took a chance at the CEO role. Many critics even argue that some of them needed that CEO tag to affirm their presence.

Israeli government on Sunday approved the appointment of Reuven Azar as the new Ambassador to India. Azar, who is in his late 50s, will also serve as the non-resident Ambassador to Sri Lanka and Bhutan, a statement from the Israeli Ministry of Foreign Affairs said. His appointment is one of the 21 new Heads of Missions cleared by the Israeli government to assume service soon.

Business Today, Gadkari said, "I will never allow driverless cars to come into India because it will take away the jobs of several drivers and I will not let that happen". While addressing road safety concerns in the country during the Zero Mile Samvad hosted by IIM Nagpur, Gadkari outlined government measures to mitigate the accidents such as the incorporation of six airbags in cars, reducing black spots on roads, and increasing fines through the Electric Motors Act. Road transport ministry makes AC truck cabin mandatory from Oct 2025 On Tesla Inc.'s entry into India, the minister said the government is ready to welcome the US automaker in India but manufacturing in China for sales in India is not acceptable.

weather balloons flew across the sensitive Taiwan Strait on Sunday but stayed well to the north of Taiwan, the island's defence ministry said on Monday, the second time this month Taipei has reported them nearby. 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, but which China said was a civilian craft that accidentally drifted astray. Taiwan is on high alert for Chinese activities, both military and political, ahead of the Jan. 13 presidential and parliamentary election.

The Bank of Japan (BOJ) meets Tuesday amid much chatter that it is considering how and when to move away from negative interest rates. None of the analysts polled by Reuters expected a definitive move at this meeting, but policy makers might start laying the groundwork for an eventual shift. April was favoured by 17 of 28 economists as the kick-off for negative rates to be scrapped, making the BOJ one of the few central banks in the world actually tightening. «Since the last meeting in October, 10-year JGB yields have fallen and the yen has appreciated, giving the BOJ little incentive to revise policy at this stage,» said Barclays economist Christian Keller. «We think the BOJ will wait to confirm the result of the 'shunto' wage negotiations next spring, before moving in April.» Japan's Nikkei lost 1.2%, weighed in part by a firm yen.

Wall Street, 2023 is a year to forget. Global investment banks turned almost unanimously optimistic on the market around this time last year, only to be confounded by a 14% drop in the MSCI China Index. Now, as policymakers ramp up efforts to arrest a housing slump and extend funding support for the broader economy, hopes are building again that 2024 will be better. But it's a case of once bitten, twice shy. This time around, expectations are much more modest. «It's like we've stood still in time for 12 months.

The former Governor of China’s central bank, Dai Xianglong, has insisted that China needs to “lead the world’ in CBDC adoption, as the nation’s digital yuan pilot continues.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Nike, Zscaler, and Live Nation Entertainment; new buy ratings for Microsoft and First Solar.

Unilever's chief executive officer Hein Schumacher said the company should not be complacent about its market share and indicated its historical strong position may weaken with increasing competition. «We should not be complacent about it (India). Yes, we have great positions, but with some slowdown in China, I do see international competitors flocking into India and putting a greater amount of resources behind it,» said Schumacher at a Barclays Fireside conference.