China Financial News

RAYONG, Thailand—Ever since Nissan Motors started building cars in Thailand in the early 1960s, Japanese companies have been a driving force in the country’s rise as an auto manufacturing powerhouse. Now, Chinese competitors are moving in to bring it into the electric age. On the outskirts of Thailand’s carmaking capital, Rayong, not far from the industrial zones home to Japanese auto plants, China’s largest electric-vehicle maker, BYD, is developing what industry experts believe will be Thailand’s biggest car plant.

India is front and center of Apple’s plans to diversify production away from China. But shaky infrastructure isn’t the only obstacle. There is another crucial complicating factor: a powerful and independent labor movement.

Fashionistas can smell blood. Luxury brands need to find ways to unload their growing pile of unsold stock without reeking of desperation. The luxury industry is slowing as shoppers sober up after their pandemic spending spree.

By Tetsushi Kajimoto

Binance has officially withdrawn its application for a financial license in Abu Dhabi, according to Reuters. This move is indicative of the exchange’s ongoing reassessment of its global operations and licensing requirements.

By Paul Carsten

By Phuong Nguyen

Investing.com — Markets are focusing in on the impending publication of the November U.S. nonfarm payroll report, a highly-anticipated data point that may shed more light on the state of the American labor market and serve as a signpost for the Federal Reserve's future policy choices. Elsewhere, Apple (NASDAQ:AAPL) and its suppliers are reportedly aiming to move a quarter of global iPhone production to India, as the tech giant looks to reduce its reliance on China during a time of strained relations between the U.S. and Beijing.

From trade to human rights, the leaders of China and the European Union differed on a wide range of issues at a summit this week in the Chinese capital

India has a two-to-three year window to capitalise on the global strategy of de-risking from China and the government must come up with a set of policies and programs that make doing business and shifting to India not just attractive but easier also, NITI Aayog vice chairman BVR Subrahmanyam said. “In the next 15 to 20 year time span, India has an opportunity in manufacturing. But the opportunity and the window for India is at best two to three years because supply chains are unwinding, becoming short term and looking for new geographies.

Apple and its suppliers have ambitious plans to manufacture over 50 million iPhones in India every year within the next two to three years, Wall Street Journal reported citing sources. This move is part of Apple's strategy to reduce its dependence on China and diversify its supply chain. If successful, India would account for a quarter of global iPhone production by the end of the decade. Last month, Foxconn, one of Apple's key suppliers, showed its commitment to India by announcing an investment of over $1.5 billion in India.

under strain. Wind-turbine supply chains have struggled as manufacturers rushed out bigger and more powerful models. Last month Siemens Energy was rescued by a loan guarantee from the German government.

When employees at fashion giant Shein crowded into an elevator in the company’s Guangzhou office at the end of one workday this summer, no one took notice of Sky Xu. The quiet man in the corner was one of the wealthiest people in China, the driving force behind an app that has quickly become one of the top shopping destinations in the world—and the boss of everyone riding the elevator. With Xu that day was Frances Townsend, a senior adviser to Shein.

US President Joe Biden's son, Hunter, accusing him of failing to pay $1.4 million in taxes while spending millions of dollars on a lavish lifestyle. Hunter Biden, 53, was hit with three felony and six misdemeanor tax offenses, according to an indictment filed in U.S. District Court, Central District of California.

Narendra Modi and President Muizzu recently met in Dubai along the sidelines of CoP-28 and reportedly agreed to set up a “core group" on ties that would also look into the matter of troop withdrawal. The stakes have clearly risen.

Tata Group is gearing up to construct one of India's largest iPhone assembly plants, aligning with Apple Inc.'s strategy to expand its manufacturing footprint in the country, as per a Bloomberg report. The conglomerate plans to build the factory in Hosur, located in the southern state of Tamil Nadu, sources told the publication. The facility is anticipated to accommodate around 20 assembly lines and aims to employ around 50,000 workers within the next two years.

More Chinese cities will give away digital yuan tokens and discount vouchers this month, as the People’s Bank of China (PBoC) looks to spur CBDC adoption.

RBI) as equity benchmarks Nifty 50 and Sensex snapped their seven-day winning streak in the previous session. Profit booking in select heavyweights, sell -off by foreign investors amid weak global cues contributed to the fall in markets on Thursday, December 7. Nifty 50 index closed at 20,901.15, down 37 points, or 0.17 per cent and the 30-share Sensex settled 132 points, or 0.19 per cent, lower at 69,521.69.

Zomato, Maruti Suzuki, SpiceJet, IDFC First Bank, among others, will be in focus in today's trade.Balrampur Chini Mills, National Aluminium Company, Delta Corp, Indiabulls Housing Finance, India Cements, SAIL and Zee Entertainment Enterprises are in the F&O ban list for 8 December.GIFT Nifty futures were largely flat, with a gain of 3 points at 21,084, indicating a flat start for Indian indices.India's benchmark indices ended lower on Thursday, snapping seven sessions of gains amid weak cues from global peers.At close, Nifty was down 37 points at 20,901.15, the Sensex fell 132 points to 69,521.69.Asian stocks fell early Friday, shrugging off a rally on Wall Street, as traders ratchet up bets the Bank of Japan is nearing the end of its negative interest rate policy.Japanese shares slipped for a second day, while the yen rose more than 1% amid thin liquidity. Australian shares also fell while contracts for mainland China pointed to losses.

The United States and Mexico have agreed to monitor foreign investments and regularly share information about the screening process

The House Committee on Energy has voted unanimously to approve a new piece of legislation entitled the “Deploying American Blockchains Act.”