China Financial News

Xi Jinping on Saturday vowed to help Nepal transform itself from a landlocked country to a land-linked nation by facilitating infrastructure connectivity and transit transportation cooperation as he met Prime Minister Pushpa Kamal Dahal 'Prachanda' here. Xi met Prachanda on the sidelines of the Hangzhou Asian Games here in eastern China. Prachanda, who politically distanced from the pro-China Communist Party of Nepal (Unified Marxist-Leninist) headed by KP Oli after becoming Prime Minister in December last year made his maiden visit to China after visiting India and the US. In his meeting with Prachanda, Xi who made a high-profile visit to Nepal in 2019 and announced several high-profile projects said the two countries sharing borders through Tibet made progress with the 'Trans-Himalayan Multi-Dimensional Connectivity Network' and other 'Belt and Road' projects that have «taken shape». He urged efforts from both sides to promote infrastructure connectivity and expand transit transportation cooperation to help Nepal transform itself from a landlocked country to a land-linked country at an early date, state-run Xinhua news agency quoted him as saying. The trans-Himalayan connectivity projects include road and rail connectivity being laid through the rugged Himalayan mountains connecting Nepal with Tibet. As a landlocked country, much of its imports go through India.

HANGZHOU: From autonomous bug zappers to android pianists and driverless ice-cream trucks, machines rule the world — at least at China's Asian Games. The Games open Saturday after a one-year delay because of Covid with about 12,000 athletes and thousands of journalists, technical officials and spectators descending on Hangzhou. An automated mosquito trapper roams the vast Games Village, zapping the pests after luring them in by mimicking a human's body temperature and breathing.Robot ‘dogs’ that can run, jump and flip over patrol power-supply facilities.

Hangzhou Asian Games began here on Saturday with a one-of-a-kind opening ceremony, headlined by a spectacular futuristic light show.

China's property sector, once the pillar of the economy, has slumped since 2021 when real estate giant China Evergrande Group defaulted on its debt obligations following a clampdown on new borrowing. Big-name developers such as Country Garden Holdings continue to teeter close to default even to this day, keeping home-buyer sentiment depressed. As of the end of August, the combined floor area of unsold homes stood at 648 million square metres (7 billion square feet), the latest data from the National Bureau of Statistics (NBS) show. That would be equal to 7.2 million homes, according to Reuters calculations, based on the average home size of 90 square metres.

U.S.-China Economic and Security Review Commission's Jacob Helberg discusses defense technology, China's rising aggression and U.S. national security.

Coimbatore: Textile and clothing sectors must have a holistic approach with a long-term vision to seize the opportunity in the global market, industry officials said on Saturday.

The report in Bangladesh-based daily further highlighted that Chinese investments in water-based resources is leading to adverse impact on the environment, displacement of local people and huge debt to countries. The combination of territory grabbing and water resource hegemony by China is a threat that all countries in South and South East Asia face and their respective security environments Although, the planet is covered with 70 per cent water, but only 2.5 per cent of this is fresh water, which has led to many experts predicting the next theatre of war as the conflict over water. This is precisely why nations have begun to preserve fresh water and, in some cases, have gone beyond to become global water hegemons, as they grow and develop. One example in the list is China. Being a water-stressed country, Beijing made huge investments in water-based resources globally. However, apart from the geo-political implications, China's water hegemony has had an adverse impact on the environment, and well-being of local populations and pushed nations into debt traps due to resource-intensive investments in dam/hydroelectric projects. According to the Daily Asian Age report, China is said to have constructed a whopping 308 dams in 70 countries on various rivers (Tibet Policy Institute, September 23, 2016). The recent estimates of China's dam construction worldwide show that these dams generate a total of 81 GW of power.

Khalistani terrorist Hardeep Singh Nijjar, who Trudeau government insists was a peaceful activist and a religious leader, has jeopardised close connections India has been forging with several Western powers, especially the US. After Trudeau's statement accusing India on the basis of «credible allegations» that point at a «potential link» of Indian agents to Nijjar's killing, the US has come out in support of Canada, asking for a fair investigation into the case and India's cooperation with the Canadian agencies. Australia too has asked for thorough investigation into Trudeau's claims.

Base metals prices retreated from their January highs as Chinese economic woes threatened the demand from the world’s largest commodity consumer. Fears of excess supplies and the US Fed’s rate hike policies also added pressure on prices throughout the period. In the benchmark LME platform, prices of the most used industrial commodities like copper and aluminium shed by more than 37% and 17%, respectively since their January highs.

Brian Armstrong, the CEO of crypto exchange Coinbase, expressed his stance on artificial intelligence (AI) regulation in a recent post on the social media platform X (formerly Twitter). 

Bitmain rolled out its next generation Antminer S21 and S21 Hydro ASIC miners at the World Digital Mining Summit in Hong Kong on Sept 22, revealing the crucial performance stats that the entire industry has been waiting for. The S21 has a hasrate at 200 TH/s and an efficiency at 17.5 J/T while the S21 hydro hashes at 335 TH/s and 16 J/T which is notable given that until recently, most Bitcoin ASICS were operating above the 20 J/T level.

U.S. Ambassador to Japan Rahm Emanuel has accused China of using “economic coercion” against Japan by banning imports of Japanese seafood in response to the release of treated wastewater from the damaged Fukushima nuclear plant into the ocean, while Ch...

Gold rate today: On account of US dollar gaining against major global currencies after US Fed's hawkish rate pause in the meeting held last week, gold prices have remained under pressure and it has been trading in $1,920 to $1,980 per ounce range. However, on Friday, the precious metal ended close to its support of $1,920 triggering speculations abour further downside movement in the bullion metals. As festival season is fast approaching in India, bets are high whether the renewed US Fed's rate hike fear would spoil festival rally in gold and silver prices.

“Struggling Chinese economy and rising crude oil price pushed the dollar index. Elevated crude oil prices along with slower export may keep the rupee at a subdued level,” says Arpit Shah, Co-Founder, Care Portfolio Managers Pvt Ltd. In an interview with ETMarkets, Shah who brings in more than 15 years of experience in the capital markets said, “We advise investors to be company specific, and when you see sharp movement in the price it is advisable to keep rebalancing portfolio.” Edited excerpts:How should one play the midcap and smallcap theme now?Small and midcaps were in the consolidation phase for almost 18 months i.e. from September 21 till March 23. However, during those times, companies' fundamentals improved while valuations remained either flat or lower. So, we believe there is more steam left in this set of companies.

oil prices weighed down investor sentiment. The losing run resulted in the benchmark indices shedding about 2.7% this week — their highest weekly loss since February. NSE's Nifty fell 68.10 points, or 0.34%, to close at 19,674.25.

Also Read: US Polls 2024: Vivek Ramaswamy's Silicon Valley fundraiser dinner to cost ₹41 lakh per ticket. More details here "Strength and pride are essential to our national survival, especially in the face of Communist China. China is an existential threat.

Nikki Haley has claimed Beijing is «preparing for war». China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday. Her speech comes two days after her India-American Republican rival Vivek Ramaswamy delivered a foreign policy speech on China in Ohio. Both Haley and Ramaswamy have emerged as popular GOP candidates after former US president Donald Trump. «Strength and pride are essential to our national survival, especially in the face of Communist China.

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

China are establishing two working groups to discuss economic and financial issues, the latest sign of a thaw in relations between the world's largest economies. The groups «will provide ongoing structured channels for frank and substantive discussions on economic and financial policy matters, as well as an exchange of information on macroeconomic and financial developments,» the US Treasury Department said in a statement Friday. Meetings will be held regularly at the vice-minister level, with officials reporting back to Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng, according to the Treasury. That framework is notably less extensive than the bilateral forums earlier this century, when gatherings featured multiple cabinet members and spanned a wide array of subject matters. The announcement comes after a string of visits to China by high-level US officials that appear to have helped stabilize ties.

Michael Lee Strategy founder Michael Lee joins Varney & Co. to discuss whether the looming government shutdown or the UAW strike will impact the stock market.

U.S. Ambassador to Japan Rahm Emanuel has accused China of using “economic coercion” against Japan by banning imports of Japanese seafood in response to the release of treated wastewater from the damaged Fukushima nuclear plant into the ocean, while Ch...