China Financial News

In the first half of 2023, global debt increased by $10 trillion, reigniting concerns about its impact on the world economy and the potential for a financial crisis, according to data released by the Institute of International Finance (IIF) on Tuesday. 

The U.S. House Financial Services Committee is currently a battleground for discussions concerning the possible launch of a Central Bank Digital Currency (CBDC) by the Federal Reserve. 

Hong Kong lawmaker Duncan Chiu has announced the launch of the second round of consultations aimed at formulating stablecoin issuance guidelines.

Real estate stocks gained 2.2%. Euro zone banks surged 2%, on UniCredit’s 4.7% rally. Canada stocks pared its earlier gains to end down on Wednesday.

Debate in the United States House Financial Services Committee during the markup of the CBDC Anti-Surveillance State Act on Sept. 20 occasionally wandered beyond strictly financial and technical issues. Star Wars and anarchists were mentioned in the discussion at various points, as were crypto bros.

global manufacturing over the past five years, with its exports to the US surging by $23 billion, a 44% increase from 2018 to 2022, while China experienced a 10% decline in exports to the US during this period, according to a BCG study on global manufacturing shifts. The study, titled 'Harnessing the Tectonic Shifts in Global Manufacturing', said the shifts in manufacturing and sourcing occurred in a range of industries as global companies have had to rethink their manufacturing and sourcing strategies due to trade wars, the pandemic, geopolitical tensions and supply bottlenecks. And as companies reconfigured strategies, India became one of the preferred manufacturing spots. Semiconductor and material shipments from India to the US surged by 143% over the past five years, albeit from a modest starting point, while China saw a 29% decrease in these exports.

NEW DELHI : Saudi Arabia, the world’s second largest oil producer, has slashed the premium charged on exports to India while many others have discontinued it altogether, a person aware of the matter said, after India began sourcing the bulk of its energy requirements from Russia. Asian premium is an extra amount levied by the Organization of the Petroleum Exporting Countries (Opec) from Asian countries above the actual selling price. India has repeatedly pressed oil producers to eliminate this premium and even asked for an ‘Asian discount’ instead.

G20 summit reported fair progress on some of the most nettlesome challenges confronting the world economy, such as debt relief to low-income countries, restructuring multilateral funding agencies and securing finance commitments for climate change. G20 itself has become a more inclusive forum with the inclusion of the African Union (AU).

Canada's participation at the Indo-Pacific Armies Chiefs Conference (IPACC) in the capital next week, said a senior Indian Army officer. The deputy chief of the Canadian Army will participate in the conference of top military leaders from 30 nations in the region, Major General Abhinaya Rai, additional director general, strategic planning, said on Wednesday, describing China as an «important partner» of the IPACC initiative. «It (the diplomatic row) doesn't impact us. The Canadian chief is coming here.

Justin Trudeau's allegations against India's «role» in killing of a Sikh terrorist on Canadian soil could be a diversionary tactic to save his political skin with the ruling Liberal Party facing a probe for its links with China. Trudeau is facing heat in the case and he may have been motivated to label unsubstantiated allegations against India as a diversionary tactic, according to observers of Canadian politics. «The allegation on the floor of Parliament is a diversionary plot on the Canadian PM's part to distract attention from the public inquiry of election interference in Canada that has just started and which will inevitably show the Liberal Party's deep ties to Beijing and Trudeau's own implication therein. He has essentially chosen to throw the India relationship under the bus to save his political skin,» quipped a source who did not want to be named. Trudeau's government has faced growing criticism over the past several months after media reports surfaced alleging that China sought to interfere in the 2019 and 2021 Canadian elections.Also read: Hate crimes, violence in Canada, says India's travel advisory Earlier this year, a Canadian lawmaker stepped down from Trudeau's Liberal Party after a media report raised questions about his dealings with China.

Recently, threats have particularly targeted Indian diplomats and sections of the Indian community who oppose the anti-India agenda, the MEA pointed out. Indian nationals are therefore advised to avoid travelling to regions and potential venues in Canada that have seen such incidents, the MEA advised. «Our High Commission/Consulates General will continue to be in contact with the Canadian authorities to ensure the safety and well-being of the Indian community in Canada. Given the deteriorating security environment in Canada, Indian students in particular are advised to exercise extreme caution and remain vigilant,» it said. (Also read: Justin Trudeau's remarks attempt to shift focus from China links) Indian nationals and students from India in Canada must also register with the High Commission of India in Ottawa or Consulates General of India in Toronto and Vancouver through their respective websites, or the MADAD portal madad.gov.in.

macroeconomic crises and business cycles. Even zero growth needs basic savings and investment to sustain a constant output. Two questions arise.

By Valerie Volcovici

economic activity is seen supported by a rebound in tourism and healthy domestic demand. ‘’Domestic demand is continuing to support developing Asia’s growth.

Leading Chinese layer-1 solution Neo Network (NEO) is on the verge of a break-out as price action battles upper trendline resistance with a +7% pump - is it too late to buy Neo? Find out in NEO price analysis.

UBS recently took a group of investors to meet with European automakers, suppliers, and experts. After conducting in-depth discussions, UBS views Mercedes' (ETR:MBGn) MMA and MB.EA, as well as BMW's (ETR:BMWG) Neue Klasse Platforms, as significant advancements in terms of efficiency, electrical/electronic architecture, software development, and cost-effectiveness.

Joe Biden, the UK Prime Minister Rishi Sunak and French President Emmanuel Macron about the matter. According to a report in the Washington Post, Canada also approached countries part of the Five Eyes intelligence alliance, which also includes Australia and New Zealand, prior to the G20 Summit in New Delhi. However, the same report states that these countries were unwilling to make a joint statement calling out India for its alleged role in killing Nijjar.

Leading Chinese planners have voiced confidence in the outlook for the world's second-largest economy, holding key interest rates steady amid signs of improvement in some areas such as services

On September 19th, Oak Grove Ventures made a significant foray into venture capital by launching a substantial $60 million fund. The fund strategically focuses on cutting-edge technology, with a keen interest in artificial intelligence (AI), Web3, and biotech.

Goldman Sachs Group Inc. rejoined the $100-a-barrel oil club, raising its forecast for crude back to triple digits as worldwide demand hits unprecedented levels and OPEC+ supply curbs continue to tighten the market. With prices advancing by more than 30% since mid-June to breach $95 a barrel on Tuesday, the Wall Street bank nudged up its 12-month forecast for global benchmark Brent to $100 a barrel from $93.

Semiconductor supply chains in Asian countries such as India, China, Malaysia, Taiwan, Vietnam, and Indonesia are becoming more significant over time for Intel, the company’s chief executive officer Pat Gelsinger said. “With our footprints in Malaysia and the vast supply chains in China and Taiwan, and areas like Vietnam, Indonesia, and India are now becoming more significant. As these projects start coming online with their manufacturing capabilities, we will have a robust Americas supply chain, and robust supply chain in Europe and Asia,” Gelsinger said, responding to a question from ET.