China Financial News

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

Tourists planning on visiting the People's Republic of China can now pre-charge Digital Yuan wallets using VISA and Mastercard payment options as the nation continues to update the mobile app powering its CBDC pilot.

Speaking about the upcoming Hong Kong Wine & Dine Festival, Mr. Puneet Kumar, Director – South Asia and Middle East, Hong Kong Tourism Board said, “As young and affluent Indian travellers seek immersive holidays, Hong Kong is ready to captivate their senses with global culinary experiences set against its iconic skyline. The return of the Hong Kong Wine & Dine Festival, after a five-year hiatus, marks a momentous occasion in our culinary calendar. It's not just an event; it's a celebration of our rich gastronomic heritage and global flavors. It's an invitation to indulge in the vibrant spirit of the city’s gastronomy and nightlife. We are excited to welcome our international visitors to savor the world's finest flavors, create unforgettable memories and Discover Hong Kong like never before."It’s back: Hong Kong Wine & Dine Festival returns in physical formatTaking place from 26–29 October at Victoria Harbour’s Central Harbourfront Event Space, Hong Kong Wine & Dine Festival 2023 will be a four-day gourmet extravaganza backdropped by the iconic city skyline.

Check out the companies making headlines before the bell.

China seeks to build artificial intelligence (AI) chip factories for creating particle accelerators to help bypass sanctions affecting the local industry, according to a report from the South China Morning Post (SCMP). 

After the first weekly loss in four, oil bulls will be raring to push crude oil towards the higher $90s, while top buyer China again faces its recurring bogeyman — an ailing property sector — that’s weighing on its stock market.

By Alun John

Stocks took a hit last week, with the S&P 500 plummeting by more than 3% and the Nasdaq 100 by almost 3.5%. The Russell 2000 fared even worse, dropping nearly 4%. While markets have declined, let’s face the reality: they could dip further. The S&P 500 is only 6% off its peak, and the Nasdaq 100 has decreased just 7.7%. This is relatively modest, considering that the Nasdaq is still up about 38% from its December lows, and the S&P 500 has climbed 23.5% from its October trough.

Investing.com — U.S. futures edged lower Monday, with investors still reeling from last week’s hawkish Federal Reserve meeting, while a U.S. government shutdown draws nearer.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Elon Musk claims WSJ report ‘utterly false’; VinFast posts impressive results; and EVs are taking over EU.

batwoman" due to her extensive research on animal-origin viruses, has issued a stark warning about the potential emergence of a new coronavirus in the future. As per a TOI report, Shi, who heads the Center for Emerging Infectious Diseases at the Wuhan Institute of Virology, emphasized the global necessity to prepare for such outbreaks, drawing insights from the harrowing Covid-19 pandemic. With over two decades of experience in coronavirus research, Shi and her team at the Wuhan Institute of Virology recently published a paper in July 2023.

Gazprom and Rosneft, Alexei Miller and Igor Sechin, will join President Vladimir Putin's retinue during his visit to China next month, sources familiar with the plans told Reuters. Putin is scheduled to meet China's President Xi Jinping for talks in Beijing and will attend the third Belt and Road Forum following an invitation from Xi during a high-profile visit to Moscow in March. The sources said other senior Russian energy officials would also be in the delegation. Sechin will hold his own energy event following Putin's visit, a source said, without providing details. Gazprom, the world's biggest natural gas producer, and Rosneft, Russia's biggest oil producer, did not immediately reply to requests for comments. Russia is bolstering its ties with Asia, especially economic powerhouse China, to offset reduced trade with Europe, its traditional buyer of oil and gas, over Moscow's actions in Ukraine. Chinese-Russian trade has soared since what Moscow calls a «special military operation» in Ukraine began in February 2022.

What determines the price of gold? For much of the past decade the answer was easy: the price of money. The lower rates fell, the higher gold climbed, and vice versa.

Just a couple of months ago, emerging-market assets were all the rage as inflation eased and interest rate-cut bets surfaced. The trade has all but fizzled out. 

BEIJING — Chinese telecommunications and smartphone giant Huawei didn't reveal any details about its new phone or reported advanced chip breakthrough during a high-profile launch event Monday.

India's limited participation in global value chains (GVCs) hampers its export potential, despite possessing substantial manufacturing capabilities across various GVC-relevant product categories. The integration of Indian companies in the GVCs is fundamental as about 70 per cent of global trade operates within these chains, encompassing a wide range of products, from electronics and machinery to pharmaceuticals and apparel. «India's weak GVC integration can be attributed to poor trade infrastructure, causing delays at ports and customs, which are detrimental to the timely flow of goods in these intricate value chains,» GTRi Co-Founder Ajay Srivastava said. Countries like China, Japan, South Korea, Thailand, and Malaysia have excelled in GVCs due to investments in quality trade infrastructure. The GTRI report has recommended six action points to the government which can help boost the participation of domestic firms in GVCs. The suggestions include automating port and customs procedures, and implementation of green channel clearances for 99 per cent of shipments; analysing the top 10,000 exporters responsible for 85 per cent of India's exports; matching global best practices for ship turnaround times, reducing queues, speeding up transactions, and optimizing infrastructure use; and enhance communication between traders and shipping companies, port operators, and Container Freight Stations (CFS). The report asked for creation of an online platform for all export-import compliance processes. «National Trade Network (NTN) would enable exporters to submit all required information and documents in one place, eliminating the need to interact separately with customs, DGFT (directorate general of foreign trade), shipping

The XRP price has dropped to $0.494065 today, representing a 3% fall in the past 24 hours for the fifth-biggest cryptocurrency by market cap.

Chinese regulators have taken a novel approach to prop up the country’s faltering stock market by banning many companies’ biggest shareholders from selling. The country’s $11 trillion domestic stock market has slumped this year after a post-Covid rally, hurt by a weak economy, an outflow of foreign money and a rising sense of nervousness among small investors. The CSI 300 index of the country’s largest listed companies is down 4.1% in the year-to-date period, following losses in the previous two calendar years.

Rahul Gandhi should reconsider his decision to contest in the 2024 Lok Sabha polls from Wayanad. Wayanad is a constituency where the Communist Party of India (CPI) is the principal opponent of the Congress.

Indonesia may issue on Tuesday a regulation on the use of social media to sell goods in the country, President Joko Widodo said, a move intended to quell threats to offline markets in Southeast Asia's biggest economy. Ministers have repeatedly said that ecommerce sellers using predatory pricing on social media platforms are threatening offline markets in Indonesia, with some officials specifically citing the video platform TikTok as an example.

Starting today, Mint’s Plain Facts section will bring out a monthly update on key global economic data to thread together the biggest developments that are worth paying attention to. The accompanying analysis and charts will explain how each story is creating ripples in the global markets, where it is headed in the coming weeks, and how it could possibly impact India. In September, rising oil prices, China’s economic slowdown, and a possible US government shutdown are leading the news.