China Financial News

NMDC Ltd scaled 52-week highs of ₹186 on Monday having gained almost 3% in the last 2 trading sessions. The gains are being led by record production and sales growth being reported by NMDC NMDC sales at 3.79 million Tonne (MT) during November grew almost 25% year-on-year. It is not only the month of November that saw strong sales growth but also year to date in FY24, NMDC sales at 27.78 mt have grown 23.5% year-on-year.

IBM on Monday showed a new quantum computing chip and machine that it hopes will serve as the building blocks of much larger systems a decade from now. Researchers around the world are trying to perfect quantum computing, which relies on quantum mechanics to reach computing speeds far faster than classical silicon-based computers. The challenge has been to create quantum computers that are reliable enough in the real world to consistently beat conventional computers.

By Casey Hall

By Simon Jessop, Maha El Dahan and Hadeel Al Sayegh

China, Japan, and South Korea are forging ahead with plans to enhance collaboration in advanced technology sectors such as big data, blockchain, and artificial intelligence (AI). 

Tesla 's China-made electric vehicles skidded 17.8% in November from the same month a year earlier, to 82,432 cars, China Passenger Car Association (CPCA) data showed on Monday. Deliveries of China-made Model 3 and Model Y cars rose 14.3% from October.

OnePlus China President Li Jie Louis has posted images showcasing the live appearance of the OnePlus 12, featuring the Pale Green and White color choices. The Pale Green variant displays a back panel with a marble-like finish. Furthermore, it has been officially mentioned that the phone will be released in a third color option, Rock Black.

Hailed as a world first, European Union artificial intelligence rules are facing a make-or-break moment

Asian shares are mixed as investors await a slew of U.S. economic data set for release later in the week

A Hong Kong court has postponed a court hearing on troubled Chinese property developer Evergrande’s winding-up petition to Jan. 29

Americans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules being proposed

COPENHAGEN (Reuters) — Volvo (OTC:VLVLY) Cars' sales grew 8% in November from a year earlier to 63,682 cars, the Sweden-based group said on Monday.

By Ludwig Burger and Noele Illien

By Summer Zhen

China business and expand aggressively in the face of a consumer slowdown and geopolitical tensions seems risky — but the potential pay-off is great, analysts say. Last month, the US-based burger maker cut a deal to repurchase the 28% stake in its China business Carlyle Group took in 2017, giving it a 48% share in $6 billion worth of operations that include Hong Kong and Macau. The move contrasts sharply with the prevailing trend of multinational corporations reeling back investments in China or even exiting altogether because of geopolitical and economic challenges. One advantage for McDonald's: its majority partner in the China business, CITIC, provides top-level political cover, said Jason Yu, greater China managing director of market research firm Kantar Worldpanel. «Having a very powerful Chinese state-owned conglomerate as a partner means they are not going to be at the forefront of the geopolitical situation; that is quite important,» Yu said. McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks, Apple, Coach owner Tapestry and sportswear giant Nike, have remained similarly dedicated to the China market. Starbucks and Nike, which face increased competition from lower-priced domestic competitors, show the need to stay agile in order to protect and grow market share, analysts say. The coffee giant is sticking with expansion plans and launched a smaller cup size; Nike, by contrast, has offered localised, higher-end sneakers such as its «Year of the Rabbit» Dunk Lows. McDonald's has used funds from the Carlyle investment to double its restaurant count since 2017 to 5,500, and the country has become its second-largest market.

BENGALURU (Reuters) — Japanese electronic parts maker TDK (OTC:TTDKY) Corp will manufacture lithium ion (li-ion) battery cells for Apple (NASDAQ:AAPL) iPhones in India, a minister said on Monday.

Debt-ceiling brinkmanship has pushed America towards a technical default. Rising interest rates and incontinent spending have seen debt balloon: the country’s total stock of it now amounts to $26.6trn (96% of gdp), up from $12.2trn (71% gdp) in 2013. Servicing costs come to a fifth of government spending.

Swaminathan Aiyar, Consulting Editor, ET Now, says: “While others may disagree that there was some communalism in the state elections, I would say basically no. It was an argument about development. And we saw this in the Uttar Pradesh election when we went out there. I attended many of those rallies of Modi, of Adityanath. There was no communal message going out. The whole thing was, have we not performed well enough to be re-elected? And the electorate said yes. I think the same thing has happened in the state elections. So I imagine that is going to be the approach of the BJP in the general election too.” Looking at how things have moved post the state elections, it looks like it is going to be a new sunrise. Yes, I would say that global investors are not particularly interested in the state elections. They look at the larger picture. I think they have already assumed that Mr Modi is going to win in 2024. This is a confirmation of what they were going to do, but I do not think it changes their view that Modi is going to win in 2024. And whether he wins by another 10 votes or 10 less votes, I do not think is the key thing.

Best affordable smartphones under ₹10,000 this December 2023: Redmi A2, realme narzo N53 and more The Chinese smartphone maker has confirmed that Realme GT 5 Pro will come with up to 1 TB of storage along with support for USB 3.2, leading to transfer speeds of up to 10 GB/s, reported Gizmochina. Moreover, while building up the hype for its phone in the GT lineup via posts on the Chinese website Weibo, Realme noted that the GT 5 Pro will be the first phone from the company to run on Android 14 and come with Realme UI 5.0 and will receive three years of Android OS upgrades and four years of security upgrades.

Myanmar, China’s gateway to the Bay of Bengal region, has emerged as a headache for Beijing in the backdrop of recent conflicts along the common land border. On November 24, there was an attack on a convoy of trucks bringing goods into Myanmar from China and this was followed by live-fire drills by the Chinese PLA along the China-Myanmar border on the very next day. These developments coincided with China’s Ambassador Chen Hai’s meeting with Myanmar’s Foreign Minister Than Swe.

SHANGHAI (Reuters) — China's electric vehicle giant BYD (SZ:002594) said on Sunday it would make permanent its system offering tipsters who report smear campaigns against the company up to 5 million yuan ($700,918).