China Financial News

G20 summit. "That said, China has quite a bit of policy space to address these challenges," she added. China's President Xi Jinping will miss the leaders' meeting at a time of heightened trade and geopolitical tensions with the United States and India, with which it shares a long and disputed border.

G20 summit. Spin doctors are at pains to push the unofficial line that Xi’s absence isn’t a big deal for New Delhi by, among other things, deflecting the public gaze to what Indian diplomacy calls “bandobast" and has perfected like an art. But all the intricate details of the décor at the venue, the logistics, the vegetarian-only menus, the silverware, and how the capital has been lit up in hot pink cannot change the fact that Xi’s absence is significant.

China's housing crisis is deepening as Country Gar... moreChina's housing crisis is deepening as Country Garden, a major homebuilder, missed coupon payments, causing panic among households.

by-elections for both the Dhanpur and Boxanagar assembly seats in Tripura's Sepahijala district, as confirmed by the Election Commission (EC). As reported by PTI, BJP's Tafajjal Hossain won the Boxanagar seat, which has around 66 per cent minority voters, by 30,237 votes. Hossain got 34,146 votes, while his nearest rival Mizan Hossain of the CPI(M) got 3,909 votes.

Belt and Road infrastructure initiative, which the US perceives as a cover for China-led regional development and military expansion. Chinese President Xi Jinping has opted not to attend the summit, with Premier Li Qiang representing the nation instead.

Joe Biden who departed to India to attend the G20 Summit does not intend to meet with Chinese Premier Li Qiang this weekend, as reported by Bloomberg. The president’s national security advisor, Jake Sullivan, briefed reporters on the summit agenda after the president left Washington on the trip, which will also take him to Vietnam. “We don’t have a plan for the president to engage with the Chinese premier at this time," Sullivan said as quoted by Bloomberg.

The Chinese social media titan Weibo has deleted 80 popular crypto-related accounts and removed “17,000 illegal profit-making-related posts” from its platform.

The 15th Annual Brics Summit on August 22nd will b... moreThe 15th Annual Brics Summit on August 22nd will be marked by Russia's absence due to potential legal actions.

Cheap internet, competitive telecom market, helped India to grow its mobile subscription by 7 million in the June quarter. With this, it emerged as the highest contributor of mobile subscribers in the world, says Ericsson report. India was followed by China and the US, said report.

G20 Summit scheduled for September 9-10. Minister of State for Steel and Rural Development, Faggan Singh Kulaste, warmly welcomed Fernandez at the Delhi airport. Following the 15th BRICS summit, the five-member BRICS (Brazil, Russia, India, China and South Africa) invited Argentina along with five other countries to join the alliance.

Manmohan Singh and HD Deve Gowda have also been invited to the G20 Summit dinner, according to ANI news agency report. The national capital is all decked up magnificently to hold the G20 Summit on September 9 and 10. Meanwhile dignitaries from across the world have started arriving in Delhi to participate in the mega event.

rupee depreciated 9 paise to end at its record closing low of 83.21 a dollar. Among other Asian currencies, the offshore Chinese yuan dropped to near 7.36 to the dollar.

China’s exports are faltering and its consumers are spending less at home, the country is flooding the world with cars. Overseas demand for inexpensive vehicles made in China, mostly gasoline-powered models that Chinese consumers now shun in favor of electric cars, is so great that the biggest obstacle to selling more abroad is a lack of specialized ships to carry them. Chinese automakers have leaped to dominance in Russia since war began in Ukraine, transporting cars by train. The companies have also captured large shares of markets in Southeast Asia, Australia, South America and Mexico.

Gross domestic product rose only 0.1% in the three months through June, compared with a prior increase measured at 0.3% — an outcome that had surprised to the upside when first published in late July. Economists had anticipated that the reading would be repeated in fuller data, according to the median estimate in a Bloomberg survey. The report on Thursday will provide European Central Bank policymakers with harder evidence of the weakness taking hold in the euro-zone economy, a week before they prepare to decide whether another interest-rate increase is warranted to tame inflation. There was a worry at the last ECB meeting in July that stagflation may be threatening to take hold — a prospect that the new numbers may make more ominous.The remainder of the year looks similarly bleak, with PMI data signaling private-sector activity in contraction and surveys pointing to further anemic expansion of just 0.1% in the current quarter.

Gold prices firmed on Friday but were set for a weekly decline as the dollar and Treasury yields held firm with strong U.S. economic data raising concerns of the Federal Reserve keeping interest rates higher for longer.FUNDAMENTALS * Spot gold was up 0.2% at $1,922.87 per ounce, as of 0116 GMT, but set for a 0.8% weekly fall.

G20 Summit scheduled to take place in India. In a post on to X (formerly Twitter), Sánchez said, "This afternoon I have tested positive for COVID and will not be able to travel to New Delhi for the G20 Summit. I feel fine." At the G20 Summit, Spain will be represented by the First Vice President Nadia Calvino and Minister of Economic Affairs and the Minister of Foreign Affairs, EU and Cooperation, he added.

tech shares tumbling on deepening Sino-U.S. tensions, while the dollar was set to seal its longest winning streak in nine years as investors braced for U.S. interest rates to stay higher for longer. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2% in early trade and is down 1.4% for the week.

Asian markets go into the final trading day of the week unable to escape the downbeat mood rooted in worries over high U.S. bond yields, a rampant dollar, China's economic funk and now the potential inflationary impact from spiking oil prices. Brent crude oil is now higher than it was a year ago, the first time since January that year-on-year price changes have been positive.

Nasdaq fell on Thursday, with the biggest drag from Apple and weakness in chip stocks over concerns about China's iPhone curbs, while a fall in weekly U.S. jobless claims fed worries about interest rates and sticky inflation. Shares in S&P heavyweight Apple Inc fell for a second straight day on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work. Bloomberg reported that China planned to broaden the iPhone ban to state firms and agencies. The drag from Apple, its suppliers and companies with large China exposure pushed the S&P 500 technology sector lower making it the biggest percentage decliner among the benchmark's 11 major sectors during the session. A U.S.

Asia Summit on Thursday that «the need of the hour is an Indo-Pacific where international law, including UNCLOS (United Nations Convention on the Law of the Sea), applies equally to all countries, where there is freedom of navigation and overflight, and where there is unimpeded lawful commerce for the benefit of all». He also addressed the India-Asean Summit in Jakarta, where he unveiled a 12-point plan across sectors ranging from connectivity to digital public infrastructure (DPI) and counter-terrorism. "India believes that the Code of Conduct should be effective for the South China Sea, be UNCLOS compliant and, in this, the interests of those countries which are not part of the discussions should also be kept in mind," the PM said. At the East Asia Summit, the PM pitched for everyone's commitment and joint efforts to strengthen the sovereignty and territorial integrity of all countries against the backdrop of China's increasing military assertiveness in the South China Sea.

Bangladesh Prime Minister Sheikh Hasina, a close ally of India, is visiting India as a G20 invitee and her meeting with Prime Minister Narendra Modi on Friday assumes significance ahead of the parliamentary election in her country in January 2024. Over the past decade India has launched several cross-border connectivity and energy projects to boost the Bangladesh economy, complementing efforts undertaken by the Hasina government. Bangladesh is emerging as a link to landlocked Northeast India. Japan, Bangladesh and India have formed a trilateral to connect Northeast India via Bangladesh to the Bay of Bengal.