China Financial News
24.09 / 18:49
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Canada needs "foreign policy reset" amid worsening ties with major powers: Report
Hardeep Singh Nijjar, it is perhaps time for Canada to implement a 'foreign policy reset', shedding off its 'middle-power approach' and focussing more on 'Indo-Pacific diplomacy', Japan Times reported. Prime Minister Trudeau's allegation of an Indian role in the assassination of Khalistleader Nijjar on Canadian soil, triggered a broader deterioration in relations between Ottawa and New Delhi, the report noted. Notably, a similar episode also led to a deteriorating trend in China-Canada relations, the report stated, adding that Michael Spavor, a businessman, and Michael Kovrig, a former diplomat, were arrested by Beijing on espionage charges.
24.09 / 17:41
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Fierce and feminine
Dakini, the female energy that is 'sky-born', is part of Tibetan, Buddhist, Japanese, Mongolian, Nepalese and Chinese philosophy and mythology, referring to the same 'female embodiments of enlightened energy' that is all-pervasive and is sometimes portrayed as being fierce and wrathful. She is a symbol of liberation. In Vajrayana Buddhism, the Dakini as Prajnaparamita represents the emptiness in reality; she is Mandala in meditation; as Yogini, she teaches her disciples and protects the transmission of teachings.
24.09 / 16:27
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‘India carrying out extensive construction work at China border’: BRO shares details
₹8,000 crore during this time and developmental work continues at a rapid pace in the region. “In the last three years, we set up 295 road projects, bridges, tunnels and airfields which were dedicated to the nation. In four months, our 60 more projects will be ready and the pace of our work has increased," said BRO Director General Lt General Rajeev Chaudhry on Sunday.
24.09 / 16:27
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China should pursue structural reforms to revive economy, says its central bank advisor Liu Shijin
Reuters quoted PBOC adviser Liu Shijin, saying the Asian country has limited room for further monetary policy easing. Shijin, a member of the People's Bank of China's (PBOC) monetary policy committee, opined that Beijing's room for monetary policy easing was limited by widening interest rate differentials with the US.
24.09 / 13:43
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Provident
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Everest
India carrying out lot of construction activities at China border: BRO DG
India has been carrying out a lot of construction activities at the China border in the last three years, BRO Director General Lt General Rajeev Chaudhry said on Sunday. The DG was here to inspect the ongoing construction work of an air dispatch unit of the Border Roads Organisation (BRO), touted to be the world's largest 3D concrete printed campus. Chaudhry said the government of India is fully supporting the BRO for carrying out infrastructure development projects by way of increasing the budget and new technology. The government of India has «increased our budget by 100 per cent in the last two years», he added. When asked if China is carrying out big infrastructure development near the border areas of India, the DG said that a lot of construction activities have been being carried out by the BRO and other agencies at the China border in the last three years. The DG said that around 300 BRO projects worth Rs 8,000 crore were completed during the last few years. «In the last three years, we set up 295 road projects, bridges, tunnels and airfields which were dedicated to the nation,» Chaudhry said. «In four months, our 60 more projects will be ready and the pace of our work has increased,» he added. The DG said that the BRO was using steel slag — a by-product of steel — and plastic in the construction of roads. «Today, the BRO's pace of work is quite fast and the government has complete support in it, be it the budget, machines, new technology and simplification of procedures.
24.09 / 13:43
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Reuters
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Time
Shein shifts shipping strategy to bring China-made goods closer to US shoppers, cut wait time
Shein is sending more low-priced apparel and home goods to US warehouses from China to speed up shipping times for shoppers, according to data from global trade analysis firm ImportGenius provided exclusively to Reuters. Shein, known for its $10 tops and $5 biker shorts, until recently has made many American purchasers face wait times of up to two weeks or more to receive their goods. This, say analysts, has put the fast-fashion e-tailer at a competitive disadvantage to bigger rivals such as Target, Walmart and Amazon.com, particularly during the holiday shopping season.
24.09 / 12:29
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Digital
Manufacturing
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guidelines
LG Chem, China's Huayou to make battery materials in Indonesia, Morocco
LG Chem Ltd has entered a partnership with China's Huayou Group's subsidiary Youshan, it said on Sunday, to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio. Huayou has joined the growing number of Chinese electric vehicle and battery companies seeking to expand overseas to get closer to their foreign clients and benefit from local incentives.
24.09 / 11:35
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CEO
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Why India is in the investment spotlight
India’s image as a leading space technology player and reaffirming its position as an attractive investment destination. India is just the fourth country after the US, Russia, and China to achieve a soft landing on the moon, and at a reasonable cost of $75 million. India’s space economy is expected to grow to $12.5 billion by 2025. The multiplier effects of space technology expertise will spill over into component manufacturing, satellite systems, telecom, and assembly, and most importantly, it will create highly skilled and high-paying jobs. India is making its entry into another high-skill Industry — semiconductors.
24.09 / 09:45
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2020
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Canada should shed ‘middle-power approach’ and...: Japan amid India-Canada row over Khalistan extremism
Khalistani terrorist Hardeep Singh Nijjar, a Canadian citizen. Nijjar, who was designated a terrorist in 2020 by India was killed outside a Gurudwara in British Columbia's Surrey in June this year.
24.09 / 09:43
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volleyball
Asian Games: Indian men's volleyball team bow out in quarterfinals after 3-0 defeat against Japan
Asian Games in China's Hangzhou. Japan won the tie by winning straight three games by 25-16, 25-18 and 25-17 to secure their spot in the semi-finals. Japan proved to be a much higher challenge for the Indians as they established their dominance with a 10-6 lead in the opening set. Japan who are ranked No. 1 in Asia showed their command and prowess by stretching their lead to 15-8.
24.09 / 08:59
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Enterprise
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China state asset manager plans $14 bln emerging industry fund: Report
China Reform Holdings Corp, a Chinese manager of state assets, plans to raise at least 100 billion yuan ($13.70 billion) for a fund that will invest in emerging industries, the China Business News reported on Sunday. The fund has already received investment intentions from more than 20 central government-owned enterprises as well as local governments and private investors, and will start operating by the end of this year, the newspaper said. China's state-owned enterprises (SOEs) have been ramping up investment in emerging and strategic industries such as artificial intelligence, new energy, new materials and biotech as part of Beijing's SOE reforms. China Reform Holdings was set up in 2021 and tasked with deepening SOE reforms.
24.09 / 07:39
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Canada faces diplomatic challenges amidst allegations and global shifts
Justin Trudeau's allegations of Indian involvement in the assassination of Sikh separatist leader Hardeep Singh Nijjar, Canada is contemplating a shift in its foreign policy approach, as reported by the Japan Times. Trudeau's accusation concerning Nijjar's assassination on Canadian soil has strained relations between Ottawa and New Delhi, with repercussions echoing in Canada's relations with other nations, particularly China. The arrests of businessman Michael Spavor and former diplomat Michael Kovrig by Beijing on espionage charges, in retaliation for the detainment of Huawei executive Meng Wangzhou in 2018 at the request of the United States, have added to the diplomatic tensions. China-Canada relations further soured due to allegations of Chinese electoral interference and threats against Canadian lawmaker Michael Chong, resulting in record-low favorability ratings for China in Canada. Discussing engagement between the two nations has become a sensitive issue. Canada's relations with Russia are also strained due to its staunch support for Ukraine in the ongoing conflict. Canada now finds itself in a precarious position, having alienated India, China, and Russia—three significant global players. Additionally, the looming possibility of Donald Trump's return to the U.S. presidency in 2024 poses another challenge, potentially misaligning Canada's goals with its most important economic, security, and political partner.
24.09 / 06:43
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SUN
Ominous China make golden start on first day of Asian Games
China swept the first gold medals at the Asian Games in Hangzhou on Sunday in a statement of intent on day one of the region's answer to the Olympics. China claimed the first gold when Zou Jiaqi and Qiu Xiuping dominated the women's lightweight double sculls rowing to kick off a medal rush for the home nation. The Chinese pair finished in 7min 6.78sec, with Uzbekistan's Luizakhon Islamova and Malika Tagmativa taking silver — almost 10 seconds behind. «I am very excited as it's my first Asian Games,» said Zou, clutching her gold medal. «Stepping on to the podium today is a new starting point to help us prepare for next year's Paris Olympics,» said Qiu. Indonesia's Chelsea Corputty and Rahma Mutiara Putri won bronze. The hosts soon doubled up on the rowing lake as the men's lightweight double sculls gold was won by Fan Junjie and Sun Man, who finished five seconds clear of India's Arjun Lal Jat and Arvind Singh. China won six of the seven golds at the Fuyang Water Sports Centre rowing venue on Sunday morning with only Hong Kong's Lam San-tung and Wong Wai-chun getting in on the party by winning the men's pairs. China's shooters also claimed the women's 10m team air rifle. The hosts' rip-roaring start to the 19th Asian Games, which end on October 8, continued as Sun Peiyuan won the first martial arts gold. Sun successfully defended his men's changquan wushu title from 2018, ahead of Indonesia's Edgar Xavier Marvelo with Macau's Song Chi-kuan third. «I'm so very excited, I'm lost for words,» said Sun. China won 10 of the first 11 golds in the early action on Sunday.King Qin makes splashSwimming is one of the highlights of the Games and will see seven finals later on Sunday at the Hangzhou Olympic Centre Aquatic Sports Arena,
24.09 / 06:43
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Asian Games 2023 medal tally: India's strong contingent in Hangzhou aims for medal glory
Asian Games 2023, hosted in Hangzhou, China. The event officially commenced on September 23 and will run until October 8. Originally slated for 2022, the quadrennial sports spectacle was postponed for a year due to the COVID-19 pandemic.
24.09 / 06:43
UPS
country
One in seven Americans now foreign born; immigrant share rise highest from India YoY
US Census Board. As per fresh statistics, as of July 2022, legal and illegal immigrants together account for 13.9 % of the total US population of 33-odd crore. This ratio stood at 13.6% a year earlier. As far as immigration into the US goes, Mexico, China and India are the top three source countries. Immigrants from India and China constitute 6% each of the total immigration count in 2022. According to the 2022 census findings, the number of Indians is 28.4 lakh, up from 27.09 lakh a year ago.
24.09 / 05:43
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Asian Games: Babulal Yadav, Lekh Ram win bronze in rowing men's pair
Also read: Asian Games 2023: India enter women's cricket final, beat Bangladesh by 8 wickets Hong Kong, China moved to first place in the race, followed by Uzbekistan and India. The Indian pair crossed the 1500m mark with a time of 5:05.11s. Things started to heat up as the three nations fought closely and gave their all to take away the gold medal.
24.09 / 02:57
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Silver
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Asian Games 2023: India wins big with two silver medals in rowing and shooting
India's Asian Games 2023 medal campaign as the country won two silver medals — one each in rowing and shooting. Lightweight men's Double Skulls pair Arvind Singh and Arjun Lal Jat won Silver medal in rowing while the the 10m Air Rifle women's team comprising Ramita Jindal, Mehuli Ghosh and Ashi Chouksey grabbed the second spot. In both the events China won gold. In shooting, Ramita and Mehuli finished second and fifth respectively to qualify for the finals in the individual event. In rowing, the Indian pair won Bronze in the 2018 edition of Asian Games and were ranked 11th at the Tokyo Olympics. Indian rowers will fight it out in as many as nine finals this Sunday and Monday. Men's double skills pair Satnam Singh and Parminder Singh also advanced to the medal round after coming first in their repechage.
24.09 / 02:25
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Asian Games 2023: India's Day 2 schedule Sept 24; check who’s competing today, live-streaming details
Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Esports enthusiasts can tune in at 8 AM to watch Charanjot Singh and Karman Singh Tikka compete in the FC Online Round of 32. The sailing and rowing events will continue from 8:20 AM and 8:30 AM, respectively, with multiple athletes in action. In hockey, India will be playing against Uzbekistan at 8:45 AM.
23.09 / 19:45
COST
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Experts
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Showing (Corri)door to China's clout: How IMEC can help India leverage its trade and geopolitical potential
India-Middle East-Europe Economic Corridor (IMEC) was launched with the promise of galvanising connectivity and trade through India, the Arabian Gulf and Europe, with an underlying goal of shifting geopolitics in the region, by countering China’s Belt and Road Initiative (BRI). The precise route map of the corridor will be figured out when the stakeholders meet in the next two months. But a Memorandum of Understanding (MoU) unveiled on the sidelines of the G20 leaders’ meeting shed light on its broader contours — a transit through India, the United Arab Emirates (UAE), Saudi Arabia, Jordan, Israel, and Europe.
23.09 / 19:45
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Maritime and land routes not distinct but part of silk roads ecosystem: Peter Frankopan
What does history tell us about the ancient trade route that has a resemblance to the IMEC?Well, the first thing we should ask is whether something like the IMEC already exists. Governments love to make grand announcements that can sound dazzling and exciting. The connections between India, the Middle East and Europe date back millennia — as they do with other parts of Asia and Africa too. Certainly, massive new investment in infra, energy, transport and communications can, and will, help boost trade even further. But this is a proposed stimulus to something that already exists. The Middle East is already home to a large Indian diaspora, and there are very close trade ties already; the same with Europe.How will you compare this maritime route with the Silk Road that connected China?These routes and corridors are and always have been abstract rather than concrete. Labels like ‘maritime route’ or ‘Silk Roads’ are used by historians and commentators as short-hand for exchanges of all kinds. Most serious scholars would argue that maritime and land routes are not distinct but part of a single ecosystem of ‘Silk Roads’. Trying to suggest they are alternatives is something that has in part sprung from China’s ‘Belt and Road Initiative’ — and the implication that there are two different sets of connections. I steer well away from that myself… I am also cagey of the current vogue of some Indian scholars to push a ‘maritime model’ that divorces Indian history from routes and connections to the north and the west is dangerous, especially in today’s increasingly toxic political debates.
23.09 / 18:33
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‘Empty houses everywhere': Former Chinese official's rare public critique on China's economy
Hindustan Times. Since 2021, after real estate giant China Evergrande group defaulted on its debt obligations, the property sector has slumped in China. Even big firm like Country Garden Holdings continue to fall close to default.
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