China Financial News

Recent data in Europe, such as the purchasing managers’ index (PMI) data, shows that the European economy is weakening. In fact, the Eurozone Composite PMI in August reflected the deepest contraction in nearly three years, while nearly every economy in the region reported weaker readings, led by Germany.

By Xie Yu, Donny Kwok and Steven Bian

Reuters reported. The meeting will involve senior officials at the deputy ministerial level from South Korea, Japan, and China.

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Shenzhen, China, is readying a new digital yuan giveaway as the city looks to showcase the CBDC at a range of upcoming sporting events.

Xi Jinping told two US Flying Tigers veterans who fought for China during World War II that China and the US «should and must» achieve peaceful co-existence, offering further cues for both sides to lower persistent tensions. In his reply to a letter from former pilot Harry Moyer and pilot gunner Mel McMullen, Xi said the people of China and the United States had shared the same enemy in their fight against Japan and had forged a «profound» friendship, according to Chinese state media on Tuesday. «Looking to the future, China and the United States, as two major countries, bear more important responsibilities for world peace, stability and development,» Xi said. «They should and must achieve mutual respect, peaceful coexistence, and win-win cooperation.» His call for stable and peaceful ties followed a series of meetings and talks between US and Chinese officials in recent months aimed at reducing tensions and restoring channels of communication including contact between their militaries. The American Volunteer Group, known as the Flying Tigers, was a fighter group, comprising former US pilots hired by the Republic of China led by Chiang Kai-shek's Kuomintang, to fight against Japan in 1941-42. The airmen, whose planes were iconic for their shark faces, were widely known in China for their feats of bravery in the face of larger Japanese forces as they took to the skies from rural runways paved by Chinese people by hand. «Currently, China-US relations face many difficulties and challenges,» Chinese Vice President Han Zheng told U.S.

Biden administration is pressing ahead with a concerted effort to strike a «grand bargain» in the Middle East that includes normalization of relations between Israel and Saudi Arabia, calculating that the U.S. could reap big rewards if it can overcome steep obstacles. President Joe Biden's aides have made this diplomatic push a foreign policy priority despite varying degrees of skepticism by experts on whether the timing, conditions and current regional leadership are right for a mega-deal that could reshape the geopolitics of the Middle East. This marks a dramatic reversal for a president who had spent much of his term shying away from deeper diplomatic involvement in the region's troubles, raising questions about why he has committed to such a challenging goal, what he stands to gain and whether he might end up paying too high a price. A bid to broker relations between longtime foes Israel and Saudi Arabia is the centerpiece of complex negotiations that involve discussions of U.S.

metaverse sector as Beijing seeks to be a global standards-setter for new technology. The ministry released a draft proposal to form a working group for the metaverse, shared virtual worlds accessible via the internet, on Monday. The proposal said that the metaverse is one of the nine emerging tech sectors which China should strive to establish standards for.

Covid-19 pandemic. Its property market is in deep distress with default risks. Even though the government has announced several stimulus measures in the last few months, they have not been able to instil optimism in the economy.

Ratings agency Moody’s says Fortescue’s high rate of executive turnover is negative for its credit rating, but expressed confidence the iron ore miner had significant headroom to fund its pivot into clean energy.

solar panels in India, what would you say? If your answer is China, you would have been right… last year. In the first half of 2022, India imported 9.8 GW of solar modules from China. But in the first half of this year, that number has crashed to 2.3 GW, a 76% reduction.

BEIJING — In the years since Alibaba's U.S. listing in 2014, early-stage investing has drawn tens of billions of dollars into China with relatively little to show for it.

SYDNEY, Sept 19 (Reuters) — The Reserve Bank of Australia considered a 25 basis point hike in interest rates before eventually deciding to hold the benchmark cash rate unchanged at 4.1%, the minutes of the central bank’s September meeting released on Tuesday showed.

(Reuters) — Chinese property developer Country Garden won bondholders' approval on the last of a batch of eight local notes it sought to stretch out repayments on, Bloomberg News reported on Tuesday.

China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost $500 billion is now facing a bigger threat: a plunge in the number of couples willing to tie the knot. The trend, which has become more obvious as the economy weakens and consumer confidence wanes, is also worrying officials trying to revive marriage, and birth, rates which dropped to record lows last year, leading to the first decline in population numbers in 60 years. «The number of marriages is falling and few are willing to spend a lot on weddings,» said Yuan Jialiang, who ran a full-scale wedding planning business for almost a decade in Shanghai before switching to focus on wedding photography before the pandemic. «The future of this industry doesn't look promising.» There were 6.8 million marriages across China last year, 800,000 fewer than in 2021 and the lowest since the government began publishing the data in 1986. This drop in marriage registrations will exacerbate the decline in births in China, now one of the world's fastest-ageing societies.

By Devjyot Ghoshal and Stefanno Sulaiman

Investing.com — The Dow eked out a win Monday, as gains in tech and energy helped offset Tesla-led weakness in consumer stocks just a day ahead of the Federal Reserve's two-day meeting. 

(Reuters) — Chinese electric vehicle frontrunner BYD (SZ:002594) has taken an early lead in Southeast Asia's small but fast-growing EV market, partly on the back of distribution partnerships with large, local conglomerates.

China’s regime has begun to spy spies everywhere. Students are being enlisted to root out snoops, and ordinary residents are being asked to question neighbours to ascertain their patriotism. Videos instructing college-goers to serve as a “defence line" against foreign forces were reportedly beamed at a university, while a national security-themed party was held at another.

SINGAPORE—China’s top diplomat was set to begin a four-day visit to Russia after a surprise stopover in Malta for weekend talks with White House officials, as Beijing lays the groundwork for separate meetings between Chinese leader Xi Jinping and his U.S. and Russian counterparts.

China’s most valuable liquor brand is pouring on the charm with its new marketing campaign targeting younger Chinese. Moutai’s new offerings may or may not stick. But the company’s traditional liquor business will probably keep raking in cash at a high level, even if the Chinese economy’s woes persist.