China Financial News

Chinese firms can now use the digital yuan to pay into employee housing funds, as the nation’s banks look for new CBDC applications.

By Clare Jim and Xie Yu

Tata Power, GAIL, LIC, Suzlon, Eicher Motors, Hero MotoCorp, among others, will be in focus in today's trade.On Friday, the Nifty50 surged to a fresh all-time high higher-than-expected GDP data and positive interest outlook in the US.At close, the Sensex was up 492.75 points, while the Nifty added 134.70 points to end at 20,267.90.GIFT Nifty futures rose 145 points, or 0.70%, to 20,638.50, indicating a strong open for Indian markets.Asian shares started strong on Monday while gold hit another record high in a busy week for economic data that will test market wagers for early and aggressive rate cuts from major central banks next year.Hong Kong stocks opened slightly higher Monday morning following a positive lead from Wall Street, with traders keeping tabs on a court hearing over a creditor request to wind up battered developer China Evergrande.Australian shares on Monday hit their highest in 2-1/2 months, as traders found comfort in signs that the U.S. central bank was done with its monetary tightening, while investor focus was also on the Reserve Bank of Australia's policy meeting due this week.The S&P/ASX 200 index was up 1.2% at 7,157.700 points, as of 0052 GMT, hitting its highest level since Sept.

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.

By Manoj Kumar

By Florence Tan

Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Teslaholds Cybertruck event; China EV deliveries; Rivian launches leasing.

China's regulator wants provinces to come up with their own plans to handle financial risks, according to a report, about a month after officials pledged to set up a mechanism to resolve local debt issues. The country should make a greater effort in financial risk management but the policies need to be tailored, avoiding a one-size-fits-all approach, the Xinhua News Agency cited Li Yunze, head of the National Financial Regulatory Administration, as saying in an interview. Provinces have to devise their own policies on how to handle risks, according to the report. The world's second-largest economy has struggled for traction this year as a bounceback from restrictive Covid Zero policies proved to be softer than expected and a property crisis dragged on.

DUBAI—World leaders gathered for climate talks in this oil-rich corner of the globe amid sharp divisions over how quickly governments need to wean their economies off fossil fuels to prevent the planet from blowing past the Paris accord’s temperature targets. Vice President Kamala Harris was expected to join Brazilian President Luiz Inácio Lula da Silva, French President Emmanuel Macron and a host of leaders from across the Gulf region Friday at the start of a two-day summit to kick off the United Nations’ annual climate talks, known as COP28.

TAIPEI (Reuters) — Taiwan President Tsai Ing-wen appealed to voters on Sunday to think of what had happened to Chinese-controlled Hong Kong when they cast their ballots next month, saying peace must be backed up with a commitment to boost defences.

SRF Ltd is expected to face short-term challenges, but for the long-term, recovery is in sight. The specialty chemicals company’s management indicated in a recent meeting with analysts that the worst seemed to be behind in terms of destocking globally in the agrochemical space. SRF, which has a few active ingredients for agrochemicals in the pipeline, expects demand to pick up in H2FY24.

MANILA: The Philippines said Sunday more than 135 Chinese vessels were «swarming» a reef off its coast, describing the boats' growing presence as «alarming». The Chinese boats were «dispersed and scattered» within the boomerang-shaped Whitsun Reef, which the Philippines calls Julian Felipe Reef, around 320 kilometres (200 miles) west of Palawan Island, the coast guard said. Whitsun Reef is more than 1,000 kilometres from the nearest major Chinese landmass of Hainan island. The Philippines said it counted 111 «Chinese maritime militia vessels» (CMM) on November 13.

ChatGPT. Aside from the OpenAI’ celebration, we also witnessed WhatsApp banning nearly 75 lakhs in India. Here is weekly tech wrap up from this week.

Chhattisgarh Elections Results LIVE According to the latest trends from the Election Commission, the BJP is ahead in 54 seats, while Congress is trailing with 33 seats. The halfway point in the 90-member assembly is 46 seats.

BEIJING (Reuters) — China is likely to implement proactive fiscal policy next year as there is still a need for the world's second-biggest economy to realise stable growth, a former central banker was cited as saying in state-owned media on Sunday.

BEIJING (Reuters) — A key Chinese financial regulator said on Sunday it would accelerate reform of small and midsize financial institutions as it steps up its oversight of the sector.

FDI) proposals worth about Rs one lakh crore since April 2020 from countries sharing land border with India and half of those applications have been cleared so far, a top official said. The remaining are either pending or withdrawn or rejected by the government. In April 2020, the government came out with a press note under which the Centre made its prior approval mandatory for foreign investments from countries that share land border with India to curb opportunistic takeovers of domestic firms following the Covid-19 pandemic.

Deadly Quiet City. By Murong Xuecun. New Press; 336 pages; $27.99.

Hong Kong court will convene a hearing on Monday on troubled Chinese property developer Evergrande's plans for restructuring its more than USD 300 billion in debts and staving off liquidation. The company, the world's most indebted property developer, ran into trouble when Chinese regulators cracked down on excessive borrowing in the real estate sector. Last month, the company said Chinese police were investigating Evergrande's chairman, Hui Ka Yan, for unspecified suspected crimes in the latest obstacle to the company's efforts to resolve its financial woes.

Meizu MYVU Ring, showcasing augmented reality features. Launched under the newly revealed MYVU brand, this smart ring was presented alongside the MYVU Discovery AR smart glasses. Explore further details about this intelligent ring here.

The administration will seize current favourable opportunities and increase efforts to promote risk disposal, director Li Yunze said in an interview with state media Xinhua.