China Financial News

Belarus wants to accelerate the launch of its CBDC as it looks to evade US and EU-led sanctions and let its firms trade with international partners.

BEIJING — A new group of Asia-based companies are contemplating initial public offerings in the U.S., where international listings were once driven mostly by Chinese startups.

CO2) emissions from fossil fuels are projected to increase by 1.1% to reach record levels of 36.8 billion tonnes this year from 2022 with emissions in India being estimated to increase by 8.2% and in China by 4% whereas it may decline by 7.4% in the EU and 3% in the USA during the same period, said a Global Carbon Budget report. The analysis shows that the increase in fossil emissions is driven mainly by China and only to a smaller degree by India which still has clear development needs to overcome. Released on the sideline of the UN climate conference (COP28) on Tuesday, the report underlined that there is a 50% chance that global warming will exceed 1.5 degree celsius (Paris Agreement warming limit threshold) «consistently» in about seven years at the current emissions level. «It now looks inevitable we will overshoot the 1.5 degree C target of the Paris Agreement, and leaders meeting at COP28 will have to agree to rapid cuts in fossil fuel emissions even to keep the 2 degree C target alive,» said Pierre Friedlingstein of Exeter's Global Systems Institute, who led the study.

UN climate conference (CO) negotiating team on Tuesday released an ambitious draft text of the global stocktake seeking countries to not only agree to trebling global renewable energy capacity to 11,000 GW by 2030 but also to brainstorm on phasing out fossil fuels. India's points on «sustainable lifestyle and sustainable pattern of consumption» — the bedrock of the country's concept of Mission LiFE (lifestyle for environment) — is also noted in the text as one of the options to address climate change issues. Though the 24-page draft text will see several rounds of updates incorporating countries' viewpoints in the next few days, the formulation on phasing out of fossil fuels (coal, oil and gas) and fossil fuel subsidies will certainly cause deep divides among participants, including India, China and the oil-rich nations, on different points until a landing zone arrives in the final text in terms of «an orderly and just phase-out» or «phase out of unabated use» or «phase-down». India has on several occasions categorically said that the country is committed to substantially increasing its clean energy capacity, but coal would continue to be the mainstay of its electricity needs and development goals. CO is expected to conclude the first ever GST, which is a mandated global report card of climate actions every five years.

By Casey Hall and Amy Lv

Credit rating agency Moody’s has downgraded its outlook for Chinese sovereign bonds to negative, citing risks from a slowing economy and a crisis in its property sector

Wall Street is hanging near its 20-month high after a mixed set of reports kept questions alive about whether the U.S. economy can pull off a perfect landing that kills high inflation and avoids a recession

(Reuters) — Hours before Moody's (NYSE:MCO) downgraded the outlook for China's sovereign credit ratings on Tuesday, speculation that such a move was imminent was circulating on Chinese social media platform WeChat, a Reuters review shows.

Anhui Jianghuai Automobile (JAC) announced Tuesday that Nio’s (NIO) Anhui division and a state-owned entity under the Hefei government of China successfully secured assets from JAC valued at a total of 4.58 billion yuan ($641.2 million).

Apple (AAPL) App Store revenue increased 11.3% year-on-year in F1Q24, according to BofA analysts in a note Tuesday.

Despite the downgrade, the country’s A1 rating was affirmed by Moody’s, which it said reflected the country’s financial and institutional resources.

Moody’s Investors Service cut its outlook for Chinese sovereign bonds to negative, underscoring deepening global concerns about the level of debt in the world’s second-largest economy.

Moody’s Investors Service cut its outlook for Chinese sovereign bonds to negative, underscoring deepening global concerns about the level of debt in the world’s second-largest economy.

Canada remains a chronic underachiever. Our economy contracted by 1.06 per cent quarter-over-quarter in the third quarter, while the United States economy grew by 5.2 per cent. The European Union and Australia also saw modest economic growth.

Investing.com -- U.S. stocks point lower as markets gear up for fresh job openings data that will serve as a precursor to Friday's much-anticipated nonfarm payrolls report. Elsewhere, the Reserve Bank of Australia leaves interest rates unchanged and flags some uncertainty around the global outlook, while a private survey shows that activity in China's services sector expanded at a faster than expected rate in November.

Indian rupee hovered in a tight range on Tuesday, ending little changed against the U.S. dollar, as likely intervention by the central bank offset local demand for the greenback. The rupee ended at 83.3825 against the dollar, barely changed from its close at 83.3650 in the previous session. The Reserve Bank of India (RBI) sold dollars near the start of the spot trading session and also intermittently stepped in during the day, traders said. Meanwhile, importers, including local oil marketing companies, were seen bidding for dollars on Tuesday, a foreign exchange trader at a state-run bank said. The dollar index was steady at 103.6 while Asian currencies were mostly lower between 0.1% to 0.6%. The offshore Chinese yuan held steady, likely supported by dollar sales from state-run banks in China after rating agency Moody's cut China's government credit rating outlook to negative. The dollar has started the week on a positive note having risen 0.4% so far after three consecutive weeks of declines. «We suspect markets may be positioning ahead of next week's Fed meeting, when Chair Jerome Powell may insist on his pushback against rate cut bets,» ING Bank said in a note, referring to the dollar's recovery. The RBI and U.S.

(Reuters) -Ratings agency Moody's (NYSE:MCO) on Tuesday cut its outlook on China's government credit ratings to negative from stable, citing lower medium-term economic growth and risks from a major correction in the country's vast property sector.

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OnePlus 12 series is set to launch in China today, aiming to give premium smartphones from all the major brands a run for their money. But even as the OnePlus 12 prepares for its global launch, reportedly next month, Realme seems to be looking to steal OnePlus' thunder with the Realme GT 5 Pro. According to a report from Gizmochina, the Realme GT 5 Pro, which is set to launch on December 7, will feature the same 50MP primary camera with Sony LYT-808 primary sensor that will be found on the OnePlus 12 and was previously seen on the OnePlus Open.