China Financial News

By Jamie McGeever

Mobius Capital Partners founding partner Mark Mobius says it's important for investors to diversify outside of China and into India, but warns against ignoring Chinese tech stocks on 'The Claman Countdown.'

Project mBridge may soon see significant expansion, according to Hong Kong Monetary Authority (HKMA) CEO Eddie Yue. He outlined the plans for the central bank digital currency (CBDC) project in a speech in Shanghai.

G20 summit fuel an uptick in foreign tourist arrivals? Tour operators are sceptical. Ahead of the peak tourist season, tour operators and travel agents expect the government to ramp up overseas marketing and promotions, open tourism promotion offices abroad that were shut due to the pandemic and participate in foreign fairs and marts. Most incoming arrivals from January to July this year were from Bangladesh and that would primarily be for medical reasons, they said. There were 10.93 million foreign tourist arrivals (FTAs) during the pre-pandemic year of 2019.

Deal makers are on alert for a round of consolidation in the flagging rare earths sector and in other critical metals as capital markets turn off the tap on exploration companies.

Bahujan Samaj Party (BSP) and Gondwana Gantantra Party (GGP) on Monday decided to contest the upcoming Assembly polls in Chhattisgarh in alliance. While the BSP will field candidates on 53 seats, the GGP will fight 37 seats in the 90-member House, a functionary of the Mayawati-led party here said. BSP Rajya Sabha MP and national coordinator Ramji Gautam and GGP national general secretary Shyam Singh Markam and other leaders of the two parties announced the alliance during a press conference, BSP state unit chief Hemant Poyam told PTI. «As per the seat-sharing pact, BSP and GGP will contest on 53 and 37 seats, respectively. The alliance will defeat the ruling BJP and the opposition Congress,» he claimed. The BSP released its first list of nine candidates for the upcoming Assembly polls last month. It had contested the 2018 Assembly elections in alliance with Janata Congress Chhattisgarh (J) and Communist Party of India and had polled 3.87%of the total votes.

Check out the companies making headlines in midday trading.

Beijing on Monday that tough security laws and a more «politicised» business environment have left European companies struggling to understand their obligations and questioning their future in China. China's refusal to condemn ally Russia for its war in Ukraine also poses a «reputational risk» for the world's second-largest economy, Trade Commissioner Valdis Dombrovskis said in a speech at Beijing's Tsinghua University. He said transparency and openness were «a winning strategy in the long run», at a time when trade tensions between the European bloc and China are mounting. «China is navigating a challenging transition from an investment-led economy to a broad-based economy,» he said. «For this it needs to remain open.» Dombrovskis's four-day trip, which kicked off Saturday, follows a report by the EU Chamber of Commerce that showed business confidence was at one of its lowest levels in years. It also follows Brussels' decision to launch a probe into Beijing's electric car subsidies. The investigation could see the EU try to protect European carmakers by imposing punitive tariffs on vehicles it believes are unfairly sold at a lower price. Chinese Vice Premier He Lifeng on Monday reiterated Beijing's «strong dissatisfaction» over the probe. «China once again expresses its high concern and strong dissatisfaction with the EU's plan to launch an anti-subsidy investigation into Chinese electric vehicles,» He told a joint press conference with Dombrovskis following their talks. «We hope that the EU side will deal with that issue with caution and continue to maintain a free and open market,» he added. But Dombrovskis painted a more positive picture of Monday's conversations, saying the two sides had agreed to «resume regular

The JPEX scandal, regarded as potentially the largest financial fraud in Hong Kong's history, has not only harmed thousands of victims but has dealt a significant blow to retail trust in cryptocurrencies in the jurisdiction. 

NEW DELHI : Valdis Dombrovskis, the EU’s chief trade negotiator, did some plain-speaking with China on Monday, saying that the latter’s tough security laws and a politicized environment had left European businesses anxious over their future in the country. While on tour there, he also said that the EU was being forced to act assertively.

Hong Kong-based decentralized cross-chain transfer protocol Mixin Network is drawing controversy over the disclosure of a $200 million hack on Sept. 25.

TOKYO—Huawei, China’s rival to Apple in smartphones and the world’s leading provider of telecoms infrastructure, is out to prove it isn’t just surviving Washington’s campaign to crush it, but is in the vanguard of Beijing’s drive for self-reliance in technology. After the buzz around Huawei’s new high-speed smartphones, which appeared to show that China can swerve around U.S. efforts to block its access to cutting-edge technology, the company on Monday unveiled its latest tablets, smartwatches and earphones—supported by a homegrown challenger to Bluetooth and Wi-Fi, global standards in wireless communication.

The Pentagon wants to acquire thousands of drones over the next two years that can fly to their targets, confuse radar, overwhelm enemy defenses, fire missiles and gather intelligence. But making the uncrewed aircraft quickly and cheaply is another matter. Mass production of large and small drones is crucial to the Pentagon’s plan to build big stocks of weapons and ammunition to deter China, which the Defense Department describes as the U.S.’s prime strategic competitor.

Gatestone Institute senior fellow Gordon Chang says Americans will soon have to 'worry about attacks' on military bases, shopping centers or reservoirs. 

(Reuters) — Contract chipmaker GlobalFoundries said on Monday it has submitted applications for funding under the U.S. CHIPS act to expand capacity and modernize its local manufacturing facilities.

By Davit Kirakosyan

Huobi Global’s HTX crypto exchange was hacked on Sept. 24, according to a report from blockchain analytics platform Cyvers. A total of $7.9 million of crypto has been drained in the attack.

By Yelin Mo and Brenda Goh

Top Thai officials have welcomed hundreds of Chinese tourists at Bangkok’s international airport on the first day of a new visa-free entry program that officials say will boost tourism

The European Union’s trade commissioner has called for a more balanced relationship with China, noting an EU trade deficit of nearly 400 billion euros ($425 billion)

The chairman of Hong Kong’s leading journalist group received a five-day jail term after he was found guilty of obstructing a police officer on Monday in a court case that sparked concerns about the city’s declining press freedom