China Financial News

Tesla Inc., the company that comes to mind when most people think about electric vehicles, may have had its best days in China, the world’s biggest and most advanced EV market. Elon Musk’s automaker has been backsliding in China for the past five consecutive months on a year-on-year basis, according to data from the country’s Passenger Car Association. Tesla’s shipments plunged 49% in February from a year earlier to just 30,688 vehicles, the lowest monthly figure since way back in July 2022, when it shipped just 28,217 EVs — and that was in the middle of Covid.

Tata Steel, JSW Steel and Hindalco rallied up to 2% on the BSE today after the global brokerage firm Jefferies stated that it maintains a constructive view on the Indian metals sector, naming the mentioned stocks as their top picks. Tata Steel has received a ‘Buy’ rating, with Jefferies raising its target price to Rs 180 from Rs 165. Meanwhile, JSW Steel has been assigned a ‘Hold’ rating, with an upward revision of its target price to Rs 920 from Rs 850. Hindalco also remains a favored pick with a ‘Buy’ rating and a target price of Rs 800.

Subscribe to enjoy similar stories. To borrow from the Greek philosopher Heraclitus, the only constant in Donald Trump’s second presidency so far is change—in tariffs. Tariff rates and exemptions are constantly evolving in response to market reactions, diplomatic efforts, trade negotiations and domestic lobbying.

Infosys co-founder Nandan Nilekani has criticised the trend of developing increasingly complex artificial intelligence (AI) models, arguing that this does not necessarily lead to better results. Speaking at the People+AI Mela in Bengaluru, he expressed concern over how many AI models remain closed systems, hidden from public scrutiny. “They keep doing more of that, but it is not that it is going to get any better. They are all typically kept within the four walls of a company. It is like a black box for the rest of us,” Nilekani said, as reported by The Economic Times. This lack of transparency, he warned, is limiting innovation and preventing broader contributions to AI development.

Indian rupee weakened on Monday on the back of strong demand to buy dollars at the daily reference rate and as the Chinese yuan slipped amid worries about the country's economy and a global trade war. The rupee declined 0.4% to 87.26 against the U.S. dollar as of 9:45 a.m. IST.

US agricultural goods in retaliation for President Donald Trump's latest hike on Chinese imports came into force Monday, as trade tensions mount between the world's two leading economies. Since retaking office in January, Trump has unleashed a barrage of tariffs on major US trading partners, including China, Canada and Mexico, citing their failure to stop illegal immigration and flows of deadly fentanyl. After imposing a blanket 10 percent tariff on all Chinese goods in early February, Trump hiked the rate to 20 percent last week.

The tariffs, effective from March 20, include a 100% levy on more than $1 billion worth of Canadian rapeseed oil, oil cakes and peas, as well as a 25% duty on $1.6 billion worth of Canadian aquatic products and pork. The levies, which mirror the 100% and 25% tariffs Canada imposed on Chinese-made electric vehicles and steel last year, triggered a rally on the Zhengzhou commodity exchange.

Taiwan's Ministry of National Defence (MND) reported 11 sorties of People's Liberation Army (PLA) aircraft and nine People's Liberation Army Navy (PLAN) vessels until 6 am (local time) on Monday. According to the MND, nine out of 11 sorties crossed the median line and entered Taiwan's northern and southwestern ADIZ. In a post on X, Taiwan's MND stated, «11 sorties of PLA aircraft and 9 PLAN vessels operating around Taiwan were detected up until 6 a.m. (UTC+8) today. 9 out of 11 sorties crossed the median line and entered Taiwan's northern and southwestern ADIZ. We have monitored the situation and responded accordingly.»

Subscribe to enjoy similar stories. When you make a pact with the devil, he always comes back to get his due. I wish Volodymyr Zelensky had remembered this before getting into a confrontation with Russia.

A basket of essential companies that supply products like plastic, aluminum, and paper — not your typical household names — reported the highest level of earnings misses so far this season. More than 65% of the MSCI Europe materials index missed earnings per share estimates for the fourth quarter, compared with just 35% of misses in the overall index, data compiled by Bloomberg shows. The sector, which includes companies like paint-maker Akzo Nobel NV, fertiliser producer Yara International ASA and flavorings manufacturer Symrise AG, is dragged down by weak demand in China, where economic woes have led to a slowdown in construction activity, and the threat of US tariffs.

Luxon, who will also be the chief guest at this year's Raisina Dialogue, will seek to beef up security and trade ties during his four-day visit, according to persons familiar with the development. The visit comes amid alarms in Wellington over the Chinese military's growing presence and engagement with the Pacific Island states.

The anonymous drone operator shared the jaw-dropping footage on Reddit with a simple caption: «Drone pics of North Korea, I was in China, my drone flew across the border.» The images quickly went viral, sparking fascination, speculation, and even concern among viewers who questioned just how risky this stunt really was.

Trump won't rule out the likelihood that the US might enter recession under his watch, as early as this year itself, reports by AFP and other agencies said. In an interview that aired on March 9, Trump said he won't dismiss the possibility of the United States witnessing a recession this year. When asked directly about a potential downturn into 2025, he responded, «I hate to predict things like that,» during a conversation with a Fox News host. He emphasised the significant changes underway, stating, «There is a period of transition, because what we're doing is very big — we're bringing wealth back to America,» and noted that «It takes a little time.» In contrast, Trump's commerce secretary, Howard Lutnick, provided a more definitive stance, stating unequivocally on NBC's «Meet the Press,» «Absolutely not,» when queried if Americans should prepare for an economic downturn.

central banks are getting a painful refresher in economic theory. Monetary authorities in China, India and elsewhere have waged a prolonged campaign against the strong dollar, using a mix of official reserves and opaque derivatives trades to defend their currencies. But their moves have pushed up borrowing costs for local banks just when slowing economies need more liquidity. China’s overnight and seven-day repo rates surged in February, while bond investors took losses from a sharp rise in yields. Banking liquidity in India suffered its highest deficit in at least 14 years earlier this year and overnight borrowing costs jumped. Liquidity also dried up in Indonesia and Malaysia following central bank currency interventions. These moves are explained by what economists call the impossible trinity, the idea that countries can’t simultaneously control their currencies, independently set interest rates and allow capital to move freely across borders. Something will break or give way.

Chinese investors are funneling tens of millions of dollars into private companies controlled by billionaire Elon Musk, using an arrangement that shields their identities from public view, the Financial Times reported on Sunday. The investments are being placed through special-purpose vehicles to avoid the ire of U.S authorities and companies wary of Chinese capital during a low-point in relations between the two countries, the report said, citing asset managers and investors involved in the transactions. Three Chinese-backed asset managers told the Financial Times that they had sold more than $30 million of shares in SpaceX, xAI and Neuralink, three Musk-controlled private technology companies, to investors over the past two years.

Elon Musk and make handsome profits without irking Donald Trump, reports say. Wealthy investors from China are channeling tens of millions of dollars into private enterprises under billionaire Elon Musk's control, through a strategy that keeps their identities concealed, Reuters reported on March 9 citing the Financial Times. This influx of capital is being funneled through special-purpose vehicles to circumvent the scrutiny of U.S. authorities and companies that are cautious about Chinese investment amid strained relations between the two nations, according to asset managers and investors involved in these deals.

India has been on a growth curve for the last three years, overtaking the US as London's single-largest FDI source market in 2022-23 and continuing through 2023-24. «Foreign direct investment from India has been the fastest growing and has been our number one market for the last two years,» said Laura Citron, CEO of London & Partners.

Indian Solar Manufacturers Association (ISMA) has demanded imposition of safeguard duty on import of polysilicon, ingot and wafer to help protect the domestic solar manufacturing industry from dumping and boost local capabilities. Sunlight is converted into electricity through a process called photovoltaics (PV). This involves several key components working together to harness the energy from the sun. At the core are solar cells, which are made from silicon. These are grouped together and mounted on a solar panel or module which captures sunlight and converts it into direct current (DC) electricity. According to ISMA, India is already self-sufficient in module manufacturing, helped by duty protection measures. Also, significant cell capacities are under ramp-up and the country will be self-sufficient by FY27 in cell manufacturing. «Need of the hour is to shift focus towards capital and energy intensive upstream manufacturing which is currently dependent on China with heavy dumping and price manipulation,» ISMA said in a presentation to the Ministry of New and Renewable Energy.

Subscribe to enjoy similar stories. Imagine a world full of basketball-sized “Orbs" that stare deep into our eyes, capturing the unique pattern of our irises.

China's leaders say they are open to talks, but they also made preparations for the higher US tariffs, which have risen 20 per cent since Trump took office seven weeks ago. Intent on not being caught off guard as they were during Trump's first term, the Chinese were ready with retaliatory measures — imposing their own taxes this past week on key US farm imports and more.

Subscribe to enjoy similar stories. China’s consumer prices nosedived in February, in a sign of stubborn disinflationary pressures, ending a year’s run of tepid price growth and underscoring the challenges policymakers face in stimulating domestic demand as trade tensions intensify.