China Financial News

Australia’s government has reported a $14.2 billion budget surplus for the last fiscal year

The U.S. Treasury Department and China’s Ministry of Finance have launched a pair of economic working groups in an effort to ease tensions and deepen ties between the nations

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Some investors are dialing up their bets on large European telecommunications companies, but shares struggle to recover previous highs amid a challenging near-term industry outlook due to muted top-line growth, stiff competition and heavy investments, analysts say. The sector is in the middle of a costly transition to upgrade its infrastructure to 5G technology and to replace copper with more modern fiber-optic cables that transmit data faster. This, together with a combination of challenges that include weak revenue trends due to competition and high debts as a result of past mergers and acquisitions, have weighed on European telecom stocks.

sovereignty and territorial integrity underpin the development of the Indo-Pacific region and expressed serious concern on the militarisation of disputed features, the dangerous use of coast guard and maritime militia vessels, and efforts to disrupt other countries' offshore exploitation activities. The Quad or the Quadrilateral coalition is a plurilateral framework comprising India, Australia, Japan and the US formed in 2017 to counter China's aggressive behaviour in the Indo-Pacific region. Foreign ministers of the four-nation bloc — External Affairs Minister S Jaishankar, US Secretary of State Antony Blinken, Australian Foreign Minister Penny Wong and Japanese Foreign Minister Kamikawa Yoko — met on the margins of the high-level 78th session of the UN General Assembly for the Quad Foreign Ministers' meeting and reaffirmed their commitment to uphold the principles of the UN Charter. «We reaffirm our conviction that international law, respect for sovereignty and territorial integrity, and the maintenance of peace and security in the maritime domain underpin the development and prosperity of the Indo-Pacific,» a joint readout of the Quad Foreign Ministers' meeting said. The ministers emphasised that disputes should be resolved peacefully and in accordance with international law, without threat or use of force. «We emphasise the importance of adherence to international law, particularly as reflected in the United Nations Convention on the Law of the Sea (UNCLOS), to address challenges to the global maritime rules-based order, including with respect to maritime claims, and in the South and East China Seas,» they said in the joint statement. The ministers emphasised the importance of maintaining freedom of navigation and

Apple stores in Delhi and Mumbai, some even camping overnight, as the Cupertino, US-based company began sales of its iPhone 15 series of smartphones in India. Apple's latest iPhone launch is considered highly significant because, for the first time, iPhones made in India and China are being offered simultaneously to customers, who flocked to stores to pick up their units. Apple afficionados also travelled from neighbouring states and cities to buy their chosen handsets. The outlets in Delhi and Mumbai are the only two Apple stores in India and were opened by Apple chief executive Tim Cook in April.Ujval Shah, a final year CA student and a long time Apple fan, saw to it that he was the first to buy the new phone from Apple’s Bandra Kurla Complex outlet in Mumbai, even if it meant travelling from Ahmedabad a day prior, and waiting outside the mall where the outlet is located for the better half of the night. “My friend and I waited outside under the bridge for most of the night and then started queuing up outside the mall.

LONDON—Central banks around the world appear to be nearing the end of a series of interest rate rises, but the economic cost of the battle against inflation is only beginning to emerge, with mounting signs that Europe could be among the hardest hit. Although there may be more rises to come, many central banks have signaled that interest rates should now be high enough to bring inflation back down. Of the 12 central banks that announced policy decisions in the past five days, eight left their key interest rates unchanged, including the Federal Reserve and the Bank of England.

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For years, the Harvard College China Forum brought business moguls en masse to the university’s oak-paneled rooms, including Alibaba Group Holding Ltd. founder Jack Ma, Xiaomi Corp.’s Lei Jun, Blackstone Inc.’s Stephen Schwarzman and Bridgewater Associates LP’s Ray Dalio. There at the invitation of students, some of whom also happen to be the children of Chinese billionaires, the moneyed classes of the world’s two largest economies would hobnob every year in a lively exchange of ideas, demonstrating wealth’s power to bridge geopolitical rifts. 

China is considering relaxing the rules that cap foreign ownership in domestic publicly traded firms, people familiar with the matter said, as it seeks to lure global funds back to its $9.4 trillion stock market. 

India has lodged strong protests with China over its denial of accreditation for the Asian Games in Hangzhou to some of the Indian sportspersons from Arunachal Pradesh, saying the action violates the spirit of the sporting event and rules governing its conduct. External Affairs Ministry Spokesperson Arindam Bagchi said as a mark of India's protest against China's discriminatory behaviour, Union I&B and Sports Minister Anurag Singh Thakur has cancelled his scheduled visit to China for the Games. Bagchi said India reserves the right to take «suitable measures to safeguard our interests'. »The government of India has learnt that the Chinese authorities have, in a targeted and pre-meditated manner, discriminated against some of the Indian sportspersons from the state of Arunachal Pradesh by denying them accreditation and entry to the 19th Asian Games in Hangzhou, China," Bagchi said. «In line with our long-standing and consistent position, India firmly rejects differential treatment of Indian citizens on the basis of domicile or ethnicity.

Vivek Ramaswamy will be hosting an ‘intimate dinner’ for fundraising for his presidential campaign with Silicon Valley bosses. The Indian-American Republican presidential candidate despite all his controversial remarks seems to have become a more favourable candidate defeating De Santis for the US Polls 2024. According to pamphlet that has been shared on social media, the “intimate dinner and discussion" with Ramaswamy will be held at the home of investor and CEO of Social Capital Chamath Palihapitiya San Francisco Bay Area.

Anurag Thakur has cancelled his scheduled visit to China for the Asian Games, after Chinese authorities denied the entry to Indian athletes from Arunachal Pradesh. MEA spokesperson Arindam Bagchi has also issued a statement stating that «in line with our long-standing and consistent position, India firmly rejects differential treatment of Indian citizens on the basis of domicile or ethnicity. Arunachal Pradesh was, is, and will always remain an integral and inalienable part of India.» Government of India reserves the right to take suitable measures to safeguard our interests. «Minister of Information and Broadcasting and Youth Affairs and Sports of India has cancelled his scheduled visit to China for the Games.

AFP report. India in lodging its opposition said, “China's action violates both the spirit of the Asian Games and the rules governing their conduct, which explicitly prohibits discrimination against competitors from member states." External Affairs Ministry spokesman Arindam Bagchi said in a statement that Union Sports Minister Anurag Thakur's trip to the Hangzhou 2022 Asian Games was cancelled in lodging protest over China's action. The three women wushu fighters are from the northeastern Indian state of Arunachal Pradesh.

Organising Committee of the Hangzhou Asian Games and the Olympic Council of Asia (OCA) have taken up the matter with the Chinese government over the denial of entry into the country for three Indian wushu players from Arunachal Pradesh, who have qualified for the Asiad. The three female Wushu players — Nyeman Wangsu, Onilu Tega and Mepung Lamgu — were scheduled to fly out to China on Wednesday night from IGI Airport in Delhi. But have not been able to reach China till Friday, a day before the Opening Ceremony and two days before the start of the Wushu competitions. There are conflicting reports here in Hangzhou with some officials claiming that two of the three Wushu players have received e-accreditation (which for the Asian Games also serves as a visa) but could not download and validate it, while the third player did not get the accreditation.

Khalistani terrorist Hardeep Singh Nijjar. Sullivan emphasized that there will be no "special exemption" for actions like these, and the United States will uphold its fundamental principles. In response to a question about why the United States appears to be taking a different approach in addressing Russian aggression and bilateral issues with China and India, US National Security Advisor Jake Sullivan clarified that India is distinct from Russia and China.

BEIJING — People flocked to a flagship Apple store in downtown Beijing on Friday morning to pick up the latest iPhone, despite market worries that nationalistic fervor would dampen the U.S. company's sales in China.

Brics (Brazil, Russia, India, China, and South Africa) nations on Thursday called for comprehensive reforms of the United Nations (UN) and advocated the inclusion of India, South Africa and Brazil in its Security Council (UNSC). At the last Brics Summit in Johannesburg, United Nations Secretary-General Antonio Guterres had supported such a move, warning that without such reforms, fragmentation of the UN body would be inevitable. The ministers recalled their national positions concerning the conflict in and around Ukraine as expressed at the appropriate fora, including the UN Security Council and General Assembly, and noted with appreciation relevant proposals of mediation and good offices aimed at peaceful resolution of the conflict through dialogue and diplomacy," the statement said. On the implementation of the 2030 Agenda for Sustainable Development, the nations’ further reaffirmed the call for donor countries to honour their Official Development Assistance (ODA) to developing countries, in line with the national policy objectives of recipients. The ministers announced the nations are exploring the establishment of an effective global governance framework with the aim to protect human rights and spur innovation and economic growth. The nations also called upon advanced economies to operationalise the fund on Loss and Damage at the upcoming COP28 environmental meet in Dubai. The fund was touted as a historic breakthrough in negotiations at last year's COP27 meet, and aims to provide financial assistance to nations most vulnerable and impacted by the effects of climate change. But differences have since erupted over which nations can access it, with reports that India may not be able to benefit from it. The ministers

The board of Australia’s largest fruit and vegetable company, Costa Group, has agreed to a cut-price $1.5 billion takeover offer from a consortium headed by private equity firm Paine Schwartz Partners.

South Africa will host a meeting of nations participating in the U.S. Africa Growth and Opportunity Act despite earlier calls to exclude the country from the forum due to its ties to Russia and the docking of a sanctioned Russian vessel near Cape Town ...

Reuters. The report also notes that demand for Apple's iPhone 15 Pro and Pro Max models is high, with waiting times rising to the end of October, similar to trends in China and the US.