China Financial News

Investing.com-- Gold prices fell further in Asian trade on Tuesday, hit by a rebound in the dollar and Treasury yields before a string of major Federal Reserve speakers this week.

China is owed more than a trillion dollars through its Belt and Road project, making it the biggest debt collector in the world, a report said this week, with an estimated 80 percent of the loans supporting countries in financial distress. Beijing says upwards of 150 countries stretching from Uruguay to Sri Lanka have signed up to the BRI, a vast global infrastructure push unveiled by President Xi Jinping a decade ago. The first decade of the initiative saw China distribute huge loans to fund the construction of bridges, ports and highways in low and middle-income countries. But much more than half of those loans have now entered their principal repayment period, said a report released Monday by AidData, a research institute tracking development finance at Virginia's College of William and Mary. That figure is set to hit 75 percent by the end of the decade, it added. Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid and credit «hovering around $80 billion a year» to low and middle-income nations. The United States, in contrast, has provided $60 billion to such countries a year. «Beijing is navigating an unfamiliar and uncomfortable role — as the world's largest official debt collector,» the report said.

China's exports fell at a faster pace than predicted in October, data showed Tuesday, as the world's second-largest economy is buffeted by faltering global demand and a sluggish domestic recovery. Beijing has sought to boost business activity in a country grappling with a major property crisis and weaker consumption since officials abolished their strict zero-Covid policy at the end of last year. Exports — long a key driver of the growth — sank 6.4 percent year-on-year last month, according to the General Administration of Customs. The reading was much worse than the 3.5 percent drop forecast in a Bloomberg survey of economists and slightly heavier than September. Apart from a brief rebound in March and April, exports have been in constant decline since last October. «Export growth remained sluggish as the economic momentum in the United States and Europe slowed,» said Zhang Zhiwei of Pinpoint Asset Management, adding that external demand was likely to remain weak in coming months. Imports, however, rose 3.0 percent, bucking a forecast drop of 5.0 percent and notching the first month of on-year growth since late last year. The rise in imports could be a signal that domestic demand in China is recovering from months of weakness. But Zhang told AFP that the October «positive surprise» in imports alone is not sufficient to determine whether domestic demand is improving, pointing to other indicators such as retail sales. «Nonetheless as fiscal policy has turned more proactive, a recovery in domestic demand is likely in coming months,» said Zhang. China recorded moderate growth in the third quarter as Beijing looks to achieve its official goal of «around five percent» expansion for 2023 — one of its lowest targets

Global Advanced Metals is up for sale after a maverick run offloading three undeveloped West Australian mines that went on to become world-class lithium assets.

A look at the day ahead in European and global markets from Tom Westbrook:

Investing.com-- Most Asian currencies fell on Tuesday as a warning from Federal Reserve officials and signs of more economic headwinds for China dented sentiment, while the Australian dollar tumbled after the Reserve Bank struck a seemingly dovish tone.

By Yuka Obayashi and Trixie Yap

By Francesco Guarascio

meat and dairy producers increased further this year, highlighting the urgent need for the food industry to clean its practices and help prevent global warming. Disclosed emissions from the world’s 20 largest publicly-listed meat and dairy companies rose 3.3% from 2022 levels, according to a report by investor network FAIRR Initiative. Its analysis includes companies like Hormel Foods Corp. and China’s New Hope Liuhe Co., which supply household names like Walmart Inc.

Denso Wave Inc. engineer who invented the two-dimensional barcode known as quick response, or QR, had never imagined that his system of labelling automotive parts would one day become a crucial pillar of monetary exchange.

Investing.com-- Chinese exports fell more than expected in October amid worsening overseas demand, while an unexpected rise in imports saw China’s trade surplus shrink to its worst level in 17 months. 

Investing.com-- Oil prices fell in Asian trade on Tuesday as a rebound in the dollar weighed, while weaker-than-expected trade data from China also raised concerns over sluggish demand in the world's largest oil importer. 

BEIJING (Reuters) — WeWork China will not participate in the strategic reorganisation of WeWork in the United States and Canada, it said on Tuesday.

Investing.com-- Asian stocks retreated on Tuesday after four straight days of gains as investors awaited more economic cues from China and Australia, while South Korean shares saw a heavy dose of profit taking. 

BEIJING (Reuters) — China's imports unexpectedly grew in October while exports contracted at a quicker pace, in a mixed set of indicators that showed the recovery in the world's second-largest economy remains uneven.

Gold inched lower in early Asian hours on Tuesday as the dollar staged a rebound, although bullion prices were stuck in a tight range with investors staying on the sidelines ahead of comments from Federal Reserve officials including Chair Jerome Powell. FUNDAMENTALS * Spot gold was down 0.1% at $1,975.35 per ounce by 0116 GMT and U.S. gold futures fell 0.3% to $1,982.10. * The dollar rose 0.1% after hitting a six-week low in the previous session, making gold more expensive for other currency holders.

Oil held a modest advance after Saudi Arabia and Russia’s announcements that they would prolong supply cuts through the end of the year were balanced by a worsening demand outlook. Also Read: OMCs to Absorb Crude Oil Shocks West Texas Intermediate (WTI) was steady near $81 a barrel after closing 0.4 percent higher on Monday, November 6, while global benchmark Brent traded close to $85.

BEIJING — Most consumers in China are planning to keep a lid on spending during this year's Singles Day shopping festival, which ends Nov. 11.

SHANGHAI/SINGAPORE (Reuters) -China's attempts to keep the yuan from falling contributed to last week's chaos in money markets, sources involved say, pointing to the pressure behind the scenes as Beijing tries to guide its economy and markets through a major slowdown.

China’s digital yuan has completed another historic CBDC first, with a Taiwan-based firm “successfully” issuing e-CNY bonds.

(Reuters) -The United Auto Workers (UAW) union on Monday said members at the General Dynamics (NYSE:GD) plants at Ohio, Michigan and Pennsylvania have voted to ratify a new tentative agreement.