China Financial News

China believes “force is not a way to resolve” the IsraeliPalestinian conflict and is once again calling for a ceasefire, its envoy for the Middle East pleaded in Egypt, the foreign ministry said Sunday. Egypt on Saturday hosted a “summit for peace” where UN Secretary-General Antonio Guterres called for swift “action to end this godawful nightmare” after two weeks of war between Israel and the Palestinian Islamist movement Hamas. Beijing’s envoy for the Middle East, Zhai Jun, met Arab League chief Ahmed Aboul Gheit on the sidelines of the summit. The Chinese diplomat called for an «immediate ceasefire and an end to the fighting as quickly as possible», his ministry said in a statement.

Voltas has revived its plans to manufacture air-conditioner compressors in the country with a partner from either Japan or Korea after its earlier such joint venture proposal with China's Highly International was rejected by the government, a top executive has said. The Tata-owned home appliance manufacturer has lined up investments of over Rs 1,300 crore for manufacturing, which include components like compressors, expansion of capacity, and manufacturing of newer home appliances, its managing director and CEO Pradeep Bakshi said. «The compressor project is still on, and we are looking at other partnerships,» he said. «The company is on an investment spree on new factories apart from backward integration.» The compressor project will involve investment of over '350 crore.

By Louis Juricic and Sarina Isaacs

Line of Control in Uri sector of Jammu and Kashmir by killing two militants, a defence spokesperson said on Sunday. Based on specific inputs from intelligence agencies and J-K Police of likely infiltration in the Uri sector by heavily armed terrorists from across the LoC, troops were put on a high alert, and the counter-infiltration grid was strengthened, Srinagar-based defence spokesperson.

BEIJING/MANILA (Reuters) -China and the Philippines traded accusations over a collision in disputed waters of the South China Sea as Chinese vessels blocked Philippine boats supplying forces there on Sunday in the latest of a series of maritime confrontations.

By Nicolás Misculin

(Corrects to add dropped word 'the' in paragraph 1)

Track the latest updates on Israel-Hamas war The development comes at a time when the US has sent USS Gerald R Ford, its most advanced carrier, along with a battle group to the West Asia region. Washington is also assisting Israel with A-10 Warthog and F-15E attack planes, along with the latest munitions as the Benjamin Netanyahu-led regime continues its offensive on Gaza. Meanwhile, Chinese President Xi Jinping on October 19 reiterated Beijing's long-held view that supports the creation of a sovereign state of Palestine.

The national cancer services industry body has collapsed over a disagreement about whether GenesisCare’s self-reported breaches are an industry-wide problem, as the latter’s negotiations with the health department about its bungled billings drag on.

China increased the deployment of forces and continued infrastructure build-up, including underground storage facilities near Doklam, a second bridge over Pangong Lake and a dual-purpose airport and multiple helipads, along the LAC in 2022 amid border tensions with India, a Pentagon report has said. The Indian and Chinese troops are locked in an over three-year confrontation in certain friction points in eastern Ladakh even as the two sides completed disengagement from several areas following extensive diplomatic and military talks.

Australian Prime Minister Anthony Albanese said he will visit China in early November, making the announcement Sunday hours before he was to fly to the United States to meet with President Joe Biden. Albanese also said China agreed late Saturday to review the crippling tariffs it levied on Australian wine that have effectively blocked trade with the winemakers' biggest export market since 2020. Albanese will become the first Australian prime minister to visit China in seven years when he travels to Beijing and Shanghai on Nov.

China and the Philippines traded accusations over a collision in disputed waters of the South China Sea as Chinese vessels blocked a Philippine boat supplying forces there on Sunday, the latest in a series of maritime confrontations. The two countries have had numerous run-ins in areas of the South China Sea in recent months, especially the disputed Second Thomas Shoal, part of the Spratly Islands. The Philippines has been sending supplies to troops stationed on a rusted World War Two-era transport ship used as an outpost on the shoal, prompting China's coast guard to repeatedly deploy vessels to block the resupply missions. In the incident on Sunday morning, China's coast guard said there had been a «slight collision» between one of its ships and the Philippine boat while the coast guard was «lawfully» blocking the boat from transporting «illegal construction materials» to the warship.

China exceeded forecast, helped by stronger retail sales at the end of the third quarter and bolstered by government stimulus efforts. Household demand was also robust in the US and likely contributed to the strongest pace of economic growth in nearly two years. Meanwhile, persistent industrial woes are projected to leave the German economy — Europe’s largest — in another recession this year. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: Asia China’s economy gained momentum last quarter as people ramped up spending on everything from restaurants and alcohol to cars, offsetting a drag from the property crisis and putting Beijing’s annual growth goal well within reach. China’s economy gained momentum last quarter as people ramped up spending on everything from restaurants and alcohol to cars, offsetting a drag from the property crisis and putting Beijing’s annual growth goal well within reach. China’s central bank stepped up efforts to support the nation’s economic recovery and debt sales by delivering the largest cash injection since 2020 with one-year policy loans. The injection of extra cash into the economy will offer a much-needed boost to China’s growth, which has been challenged by a lack of demand and a downturn in the property market this year. South Korea’s trade minister said his country is prepared to look for alternative sources of graphite if China’s newly strengthened export controls on the key material used in electric-vehicle batteries cause a severe shortage.

Nvidia, Foxconn to Develop New Class of Data Centers Focused on AI As per the report, China's natural resources department has initiated on-site investigations into the land usage of Foxconn enterprises located in Henan province, Hubei province, and other areas. The developments were disclosed in an exclusive report by Chinese media major, the Global Times.

China's natural resources department also conducted on-site investigations on the land use of enterprises of Foxconn in Henan, Hubei provinces and other places, according to the exclusive report in the nationalist tabloid, the Global Times. It did not elaborate on the investigations or the timing of them.

BEIJING (Reuters) — Foxconn Technology Group, Apple Inc (NASDAQ:AAPL)'s largest supplier of iPhones, has been subjected to tax audits at some of its key subsidiaries, suspected of violating laws and regulations, Chinese state media reported on Sunday.

By Michelle Nichols

The draft text, seen by Reuters, calls for the protection of civilians — including those who are trying to get to safety — notes that states must comply with international law when responding to «terrorist attacks», and urges the «continuous, sufficient and unhindered» delivery of aid to the Gaza Strip. It was not immediately clear if or when the United States planned to put the draft resolution to a vote. To pass, a resolution needs at least nine votes in favor and no vetoes by Russia, China, the United States, France or Britain.

Reuters, called for the protection of civilians including those who are trying to get to safety, notes that states must comply with international law when responding to "terrorist attacks", and urges the "continuous, sufficient and unhindered" delivery of aid to the Gaza Strip, Reuters reported. However, it was not immediately clear if or when the United States planned to put the draft resolution to a vote.

SHANGHAI/BEIJING (Reuters) — China will promote a sustained economic recovery, focusing on expanding domestic demand, while fending off financial risks, People's Bank of China Governor Pan Gongsheng said in a report published on Saturday.

Israel-Hamas war becoming a wider conflict. Egyptian President Abdel-Fattah El-Sisi said he'd agreed with US President Joe Biden that the Rafah crossing should be open “sustainably.” The Israeli Defense Force said it was responding with live fire on Saturday to a number of launches made toward Israel by Lebanon. Lebanon's state-run National News Agency reported earlier that Israel's military struck a village near the countries' border. Switzerland's top prosecutor announced the start of a criminal investigation into alleged payments made to Hamas weeks before the attacks on Israel, the Swiss public broadcaster reported on Saturday. Attorney General Stefan Blaettler said the accusation centers on financial support to a terrorist organization, while declining to say who the proceedings are directed against. Egypt opened its crisis summit in Cairo with the leaders of Italy, Qatar, the United Arab Emirates, Jordan and South Africa among those on hand, as well as senior officials from the EU, Turkey, Russia and China.