China Financial News

Crypto exchange giant Binance seems to have connections with a newly established cryptocurrency trading platform in Hong Kong that has announced its intention to apply for a license in the city, according to a South China Morning Post report. 

By Natalie Grover

Investing.com — Results from Microsoft and Alphabet (NASDAQ:GOOGL) receive differing reactions as quarterly earnings season continues with Meta Platforms and IBM due. Beijing has decided to issue a substantial amount of sovereign debt to support the struggling Chinese economy, while results from Deutsche Bank come in ahead of expectations.

Hong Kong’s leader has cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub

Delhi court on Wednesday sent NewsClick founder Prabir Purkayastha and human resources department head Amit Chakravarty to police custody till November 2 in a case lodged under the anti-terror law UAPA over allegations that the news portal received money to spread pro-China propaganda. The accused were produced in the court on the expiry of their 15-day judicial custody granted by it earlier. The police had requested the court on October 10 to send the accused persons to jail and had submitted that the agency could ask for their further custodial interrogation later. The police on Wednesday told the judge that it wanted to confront the accused with some protected witnesses and also some devices which were examined and the data that has been extracted. Advocate Arshdeep Singh Khurana, appearing for Purkayastha, opposed the police remand plea claiming that there was no new ground in the application. The Special Cell of Delhi Police had arrested Purkayastha and Chakravarty on October 3. According to the FIR, a large amount of funds to the news portal came from China to «disrupt the sovereignty of India» and cause disaffection against the country. It also alleged Purkayastha conspired with a group — People's Alliance for Democracy and Secularism (PADS) — to sabotage the electoral process during the 2019 Lok Sabha polls. Raids were conducted at 88 locations in Delhi and seven in other states on October 3 on the suspects named in the FIR and those that surfaced in the analysis of data, police said. Around 300 electronic gadgets were also seized from the offices of NewsClick and residences of the journalists who were examined. Following the raids, 46 individuals, including nine female journalists, were questioned by

Hong Kong's leader on Wednesday cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub. Chief Executive John Lee said the extra stamp duties imposed on non-resident buyers and current local homeowners looking to buy additional properties would be halved, making the first easing over the past decade since property cooling measures were introduced. In his annual policy address, Lee also unveiled plans to reduce stamp duty on stock transactions to 0.1% from 0.13%, saying a vibrant stock market is vital to upholding the city's status as a financial hub. After the easing of COVID-19 restrictions, Hong Kong's economy has begun to recover, fuelled by growth in tourism and private consumption. The city's economy expanded 2.2% in the first half of 2023 year-on-year and is expected to grow between 4% and 5% for the full year. However, the path to full recovery remains uneven, particularly with geopolitics tensions rising and mainland China, its largest trading partner, struggling to rebound quickly.

Jaishankar on Wednesday embarked on a two-day visit to Kyrgystan to attend the 22nd meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of Government (CHG), to be held under the chairmanship of Kyrgyzstan, the Ministry of External Affairs said. The October 25-October 26 meeting in the Kyrgyz capital city of Bishkek will be attended by the heads of governments of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan, the Vice-President of Iran, and the foreign ministers of India and Pakistan. «In Bishkek, the external affairs minister will also meet with his counterparts from other SCO member states and call on the country's top leadership,» the MEA statement read. SCO observer States including Belarus and Mongolia as well as guest state Turkmenistan will also attend the meeting. The CHG is the second-highest forum in SCO.

By Summer Zhen and Xie Yu

By Victoria Waldersee

BEIJING (Reuters) — China President Xi Jinping will meet California Governor Gavin Newsom, Chinese state media said on Wednesday.

By Clare Jim

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) After the announcement of these measures, shares of two major residential property developers Sun Hung Kai Properties and Henderson Land eased 0.2% and 1%, respectively, in early afternoon trading. Additionally, stamp duties for stock transactions would also be reduced to 0.1% from 0.13% to help bolster liquidity in the Hong Kong market.

TAIPEI (Reuters) — After mastering making iPhones, Taiwan's Terry Gou, the billionaire founder of major Apple (NASDAQ:AAPL) supplier Foxconn, wanted to turn his entrepreneurial skills elsewhere — to be the island's next president.

Washington state senator was arrested in Hong Kong for carrying a gun that was not registered in the semi-autonomous Chinese city, his website and local media reported. He was released on bail Monday. Jeff Wilson, a Republican from Longview, was arrested after landing at the Hong Kong International Airport on Saturday.

Investing.com-- Most Asian currencies fell slightly on Wednesday as strong overnight data boosted the dollar, while the Australian dollar rose sharply as a strong inflation reading fueled expectations for an interest rate hike in November. 

BERLIN (Reuters) -Nivea maker Beiersdorf raised its full-year sales guidance on Wednesday, as it reported a 11.2% hike in organic group sales in the first nine months, driven by its consumer business unit.

Mineral Resources says lithium markets are being manipulated to suppress prices in a sector still dominated by battery chemical makers in China.

Finnish investigators say they believe an anchor of a Chinese container ship was dislodged and caused the damage to the undersea Balticconnector gas pipeline between Finland and Estonia on the Baltic Sea earlier this month

Toyota, Honda, Nissan and other Japanese automakers are serious about rolling out battery electric vehicles to catch up with the world's frontrunners like Tesla and BYD

China on Wednesday urged Taiwanese firms operating in the country to show «responsibility», after Beijing launched a probe into tech giant Foxconn over tax and land irregularities. State media reported over the weekend that Foxconn — a Taiwanese firm that is one of the world's largest contract producers of electronics and a key supplier for Apple's iPhones — was under investigation.

China said the United States is the «biggest disruptor of regional peace and stability» in the world in a scathing response Wednesday to a Pentagon report on China's growing military buildup. The annual report that is required by Congress is one way the Pentagon measures the military capabilities of China, which the US government sees as its key threat in the Asia-Pacific region and America's primary long-term security challenge.