China Financial News

The Chinese tech titan Tencent, the WeChat operator, will launch a digital yuan smart contract offering for small and medium-sized enterprises (SMEs).

By Andrea Shalal

Apple and Samsung, among others, and their brand image hurt due to intense government scrutiny, top Chinese smartphone brands are scrambling to protect their turf in the Indian market by strengthening their presence in offline retail, roping in brand ambassadors, launching new initiatives, and focusing on product quality. These strategies are causing a marked shift in the way these Chinese brands are operating in India this year where smartphone demand has weakened amid higher product prices and economic uncertainties, brand experts and market trackers said. Experts feel that this is also a good time for new entrants such as Nothing and Google to get a foothold with relatively lower entry barriers as compared to other markets. Increased scrutiny by Indian authorities and tepid demand for higher volume smartphones costing less than Rs 10,000, where Chinese brands have a major presence, has seen the combined share of these products drop to 61% in Q2 2023 from their peak of 77% in Q1 2020.

Sri Lanka says that it has reached an agreement on key terms and principles on its debt restructuring with the Exim Bank of China

Japan’s top automaker Toyota and Idemitsu, a major oil company, say they will cooperate on technology for mass production of solid-state batteries that promise to be a key component in future electric vehicles

TikTok and Montana faced off in federal court in a case filed by the video sharing app and five content creators who want the court to temporarily block the state's ban on the platform before it takes effect on Jan. 1

₹1.07 trillion ($12.87 billion) was remitted outside India by Vivo to some trading companies controlled by its Chinese parent, in what the agency called a “masking layer" intended to escape government notice. “While no profits were shown from 2014-15 to 2019-20 in the statutory filings and no income taxes were paid ...

China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC), which is also referred to as the e-CNY.

elections invariably dents government finances, but this time around it may not be the same, thanks to strong federal revenues and a liberal dividend payment by the Reserve Bank of India (RBI), Goldman Sachs said. There could be some expenditure cuts as well. It is likely that a cut in public capital expenditure (as a % of GDP) will mean the government will need support from the private sector to step up capital investments, among a reduction in other current expenditures.

Fisker Inc. (NYSE:FSR) announced Thursday that the American electric automaker intends to open its first retail lounge in Shanghai, China, as the company continues the roll-out of its China business.

₹1.25 trillion ($15 billion) to its China headquarters from India since 2014, while not paying any taxes in India. Rai is accused of helping set up Vivo’s India operations. Lava International is a beneficiary of the Centre’s production-linked incentive (PLI) scheme for domestic smartphone manufacturing.

Evidence presented in court as a part of the ongoing criminal trial against Sam “SBF” Bankman-Fried, former CEO of crypto exchange FTX, reveals SBF believed Binance leaked an Alameda balance sheet to the media in 2022.

Stock markets in the Asia-Pacific region and Europe saw gains on Thursday. This uptick was attributed to the United Kingdom’s economic recovery, China’s recent stimulus measures and expectations surrounding the United States Consumer Price Index.

NEW DELHI : Qualcomm intends to build its China model in India where it will support the local semiconductor ecosystem by licensing technologies to local companies and startups, and bring volumes for production at semi conductor fabrication units that are expected to come up in the country in the long run, Qualcomm’s newly-appointed India president Savi Soin said in an interaction with Mint. “Our CEO has said that if fabs or Outsourced Semiconductor Assembly and Testing (OSATs) come to India, we are going to bring business here. Any conversation we’re having with partners or government is that we bring tech and volumes.

By Jonathan Landay

Adam Mosseri stated that Threads has no intentions of actively promoting hard news or political content on its platform. He reiterated this stance during a recent Instagram creator event, as reported by TechCrunch. Mosseri emphasized the platform's commitment to empowering creators without leaning heavily into news, clarifying that they are not against news content.

The fund invests across themes of alternative energy, sustainable water, pollution prevention and energy efficiency.

Karnataka, state’s Industries Minister MB Patil and IT/BT Minister Priyank Kharge said on Thursday. The ministers shared details of their interactions with top executives during their recent US tour at a media conference. Some of these companies were already in the process of investing about $ 1 billion in the state.

A second Chinese court has ruled that crypto lending is an activity outside the protection of the country’s legal system.

Taiwan has repeatedly pushed for the conclusion of a Bilateral Investment Agreement (BIA) with the EU, saying it would help encourage more Taiwanese investment, especially from chip companies.

General Liu Zhenli, the head of the military body responsible for China's combat operations and planning, has emerged as the top contender to replace the country's defence minister, who has not been seen in public for more than six weeks, according to five people familiar with the matter. The appointment of Liu to replace Defence Minister Li Shangfu — which one of the people said was likely to happen before Beijing holds an international security forum later this month — could boost military engagement with the United States amid regional tensions, three military analysts told Reuters. Li was sanctioned by the U.S. in 2018 for an arms deal he secured with Russia in an earlier role.