China Financial News

(Reuters) -A group of offshore creditors to China Evergrande (HK:3333) Group is asking for a controlling equity stake of the developer and two of its Hong Kong subsidiaries as part of company's revised debt restructuring proposal, a source familiar with the matter said on Friday.

Investing.com-- Most Asian currencies kept to a tight range on Friday, while the dollar rebounded from 3-½ month lows in anticipation of more cues on interest rates from Federal Reserve Chair Jerome Powell. 

By Stella Qiu

By Leika Kihara

By Yoruk Bahceli, Dhara Ranasinghe and Naomi Rovnick

TortoiseEcofin Senior Portfolio Manager Robert Thummel discusses how China's economic woes could impact crude oil prices on «The Claman Countdown.»

Meta says it has found and disabled thousands of fake Facebook accounts linked to China that were used to spread politically partisan content in the United States before next year’s election

Investing.com-- Chinese manufacturing activity unexpectedly rose back into expansion in November, a private survey showed on Friday, as  a mild increase in domestic demand helped offset a persistent decline in overseas orders.

Investing.com-- Oil prices fell slightly in Asian trade on Friday, extending losses from the prior session as the OPEC+ cut supply by a smaller-than-expected margin, while weak data from China added to concerns over worsening demand. 

Investing.com-- Most Asian stocks retreated on Friday, seeing a measure of profit taking after clocking strong gains through November, with focus now turning to an upcoming address from Fed Chair Jerome Powell for more cues on interest rates. 

India head of a destination-management multinational, his job used to be mostly about introducing global clients to exotic vacation spots in his own country. Nowadays, he spends nearly all of his time on taking rich compatriots abroad — for leisure, conferences, and, of course, big, fat, Indian weddings. No surprise, then, that Malaysia’s recent scrapping of visa requirements for Indians and Chinese citizens visiting for 30 days or less has made Yadav a happy man.

JSW Group and SAIC Motor announced an India joint venture aimed at expanding the operations of MG Motor, owned by the Chinese company, in the country. JSW will hold a 35% stake in the joint venture, they announced on Thursday. «Our strategic collaboration with SAIC Motor aims to grow and transform the MG Motor operations in India with a focus on green mobility solutions,» the JSW Group's Parth Jindal said in a media release.

Hong Kong’s government says more banks based in the country are preparing to join Mainland China’s digital yuan pilot.

An official survey of Chinese manufacturers shows that factory activity contracted for a second straight month in November

BEIJING — China's consumer isn't going to be spending big anytime soon, which means companies need to be more strategic to tap what's still a massive market, according to McKinsey.

JSW Group and China's SAIC Motor have formed a joint venture in India with a focus on green mobility and to develop the electric vehicle ecosystem, the two companies said in a statement on Thursday. JSW will take a 35% stake in the new Indian joint venture, the companies said. SAIC already has a presence in India through its fully owned unit MG Motor India but has struggled to grow its presence in the country after Chinese investments faced increased scrutiny from New Delhi. The new joint venture with JSW will also support growth of SAIC's MG in India by increasing locally sourced auto parts, expanding the production capacity and growing its charging infrastructure, the companies said.

NEW DELHI : The Indian economy shot past expectations to clock an impressive 7.6% growth in the September quarter, retaining its crown as the world’s fastest-growing major economy. That’s a major step-up from 6.3% in the corresponding period of the previous fiscal year. While manufacturing, mining and construction put up a robust show, agriculture cooled thanks to an erratic monsoon, National Statistical Office (NSO) data showed.

Henry Kissinger leaves behind a significant legacy in the United States, especially on how he crafted American foreign and security policy in the peak of the Cold War. From an Indian standpoint, however, his policy outlook was detrimental as it solemnised the China-Pakistan nexus which till date remains India's principal security threat. Declassified papers convey a high degree of complicity between US and China under Kissinger's watch to aid Pakistan in the 1971 war.

Alibaba Group Holding is set to lose its position as China's most valuable e-commerce firm to eight-year-old upstart PDD, a watershed moment for an internet industry that Jack Ma's firm dominated for more than a decade. Alibaba slid as much as 1.4% in Hong Kong, putting its market value at about $187 billion and on track to close below US-listed PDD Holdings' $188.3 billion, according to Bloomberg calculations. PDD, the company best known for hit US shopping app Temu and domestic bargains trailblazer Pinduoduo, closed nearly 2% higher in New York on Wednesday. The once-inconceivable shift reflects the turmoil that engulfed Alibaba after Beijing in 2020 targeted the company and its once-outspoken co-founder, kicking off a sweeping crackdown on the powerful tech sector.

World Cup. China has been an area where, unfortunately the pandemic came to visit very early, locked the country down and went away only after a long time. Travel is still far below where it was pre-pandemic for the outbound business and the inbound business.

bond investments, according to a report published on Thursday. The slippage follows two years of strong asset growth, with the funds also grappling with a rise in real interest rates, according to the report by OMFIF, Official Monetary and Financial Institutions Forum. OMFIF analysed data from the annual reports of the world's 50 largest public pension funds and 50 biggest sovereign funds. It also drew on surveys and contributions from 22 global public pension funds, including Singapore's GIC and Canada's CDPQ. A net 13% of survey respondents expected to reduce their real estate and conventional government bond holdings in the next 12-24 months, with funds looking, in contrast, to add inflation-linked debt and commodities, the report said. In emerging markets, nearly 40% of surveyed funds saw India as the most attractive market.