China Financial News

China said on Thursday that 90 countries have confirmed attendance for its Belt and Road Initiative conference being held in October, The third Belt and Road Forum for International Cooperation (BRF) will be held in Beijing in October, the foreign ministry has previously said, with 2023 marking the 10th anniversary of the Belt and Road Initiative (BRI). Several foreign leaders are expected to attend, including Serbian President Aleksandar Vucic and Argentine President Alberto Fernandez, state media reported. Russian President Vladimir Putin also has a scheduled visit to China in October when the country hosts the One Belt One Road forum, Putin's aide Yuri Ushakov said recently, according to Russia's state news agency TASS. «We have received an invitation and plan to go to China,» Ushakov said, according to a report from the Global Times. China's foreign ministry said the country has signed Belt and Road cooperation documents with more than 150 countries and over 30 international organizations, according to Xinhua. «Over the past decade, Belt and Road cooperation has achieved fruitful outcomes,» Chinese foreign ministry spokesperson Wang Wenbin recently said at a press conference, adding that it has established more than 3,000 cooperation projects and galvanized nearly $1 trillion of investment, state media reported. Critics see the ambitious Belt and Road initiative — billed as recreating the ancient Silk Road to boost global trade infrastructure — as a tool for President Xi Jinping's China to spread its geopolitical and economic influence. Debate in the West over economic dependence on China has cast a shadow over longer-term trade and investment relations with Beijing.

Narendra Modi on Thursday pitched for everyone's commitment and joint efforts to strengthen the sovereignty and territorial integrity of all countries. In an address at the East Asia Summit, Modi also said that India believes that the Code of Conduct for the South China Sea should be effective and compliant with the UN Convention on the Law of the Sea (UNCLOS). His comments came days after a number of ASEAN member countries such as Malaysia, Vietnam and the Philippines reacted sharply to Beijing's territorial claim over the South China Sea in its latest edition of the «standard map of China». On August 28, Beijing released the 2023 edition of the «standard map of China» which includes Taiwan, the South China Sea, Arunachal Pradesh and Aksai Chin as Chinese territories.

consumer spending in the economy. According to customs data released on Thursday, China’s exports dipped 8.8% year-on-year (YoY) to $284.87 billion in August, registering its fourth straight month of decline. However, exports beat a forecast of 9.2% fall in a Reuters poll and off a 14.5% drop in July.

Mint takes a look at the issue. A joint declaration or a joint communique at the end of a formal summit is usually standard diplomatic practice. It seeks to show a unified front and some level of agreement on key issues.

A massive blowout in costs at Bubs Australia was due to $17 million in marketing and travel expenses, as well as $2 million spent on legal fees and another $3.6 million outlay on consulting charges, the infant formula company’s annual report shows.

Tencent revealed that Hunyuan has now become the core technology underpinning over 50 of its various products and services. "By July, there are more than 130 large language models in China.

Probal Sen, V-P, Equity Reearch, ICICI Securities, says “higher demand from gas fired power would definitely drive prospects for Petronet, GAIL, as well as GSPL. As far as the CGDs is concerned, there was a little bit of a correction post the first quarter results across the board. Specifically, if I look at IGL and MGL, post the first quarter results. I think that confidence is coming back. That is why LNG prices continue to be in a fairly limited range, European inventory remains very comfortable so there is very little chance of additional buying coming through from that continent for LNG cargoes.”China is not coming back the way everybody expected. Europe is still in a disarray. The US economic growth is uneven and crude prices are up. Historically, crude is a function of demand or supply. Both are balancing each other yet crude prices have gone from $75 to $90. Why?I would not quite say that demand and supply are that balanced.

rising U.S. yields and a slowing Chinese economy sapped momentum from the market's rally. The Nikkei index closed 0.75% lower at 32,991.08, after hitting a high of 33,322.45 in morning trade.

Nifty are up nearly 2 per cent in September so far. While the sentiment seems to have slightly improved, the market has to deal with many headwinds in the short term. The risk of inflation is not gone, interest rates are high and central banks have been saying they can still raise rates.

record volumes in recent months, despite Western embargoes, dwindling domestic production and the risks of navigating the Black Sea, Russia’s crude shipments fell to 3m barrels a day (b/d) in August, some 800,000 lower than the April-May average and below pre-war levels. They are likely to remain sub-par. On September 5th Russia said it would extend a “voluntary" 300,000 b/d cut first announced for August to the end of 2023 (the baseline for this reduction is unclear).

Xi Jinping has decided not to attend the G20 summit scheduled to take place in New Delhi this week. This decision marks a departure from his consistent attendance at previous G20 meetings, raising questions about its underlying reasons. According to reports from Nikkei Asia, the root cause of this unexpected move can be traced back to the recent Beidaihe meeting in China, an annual gathering of incumbent and retired leaders of the Chinese Communist Party.

China on Thursday showing falling exports fanned more fears about a slowdown in the world's second-biggest economy, which has struggled with its post-Covid recovery. Governments and markets alike are concerned about these indicators — the size of China's economy and its connections with the rest of the world mean any ups and downs are felt far and wide. Here is a rundown of the problems facing China's economy, and why analysts believe Beijing is not doing enough to fix them: The abandonment of tight pandemic restrictions in December set off a gradual resumption of consumer activity in China as people started dining out, shopping and using public transport more frequently. But the highly anticipated economic rebound was weaker than expected and did not reach all sectors — industrial production, for example, is still struggling. And a post-Covid rally has since completely run out of steam. As many other major economies grapple with inflation, consumer prices in China fell by 0.3 percent year-on-year in July to enter deflation — a sign of sluggish demand. Youth unemployment rose so high in June that authorities suspended the publication of that data, while traditional growth engines such as exports, real estate and consumption remain stalled. Analysts say these trends are increasingly pushing China's annual growth objective of around five percent out of reach. Property development and linked industries have been a key pillar of the Chinese economy in recent years, providing a sizeable chunk of its GDP. But the sector is in a deep crisis. Many leading developers including Evergrande and Country Garden have come under increasing financial pressure lately, with their astronomical levels of debt bringing bankruptcy concerns to

Global South," and that at the upcoming Group of 20 meetings being held in New Delhi, that voice will be heard. At the August summit of the BRICS nations — Brazil, Russia, India, China and South Africa — current chair South Africa declared its goal was to «advance the agenda of the Global South.» And ahead of this May's summit of the Group of Seven wealthy democracies in Hiroshima, Japanese Prime Minister Fumio Kishida stressed that the guest nations he had invited reflected the importance of the Global South. The United Nations, the World Bank, U.S. President Joe Biden — everyone seems to be talking about the Global South these days.

China's exports declined at a slower pace in August, even as the world's second-biggest economy remains under pressure from weaker demand both domestically and abroad. Exports for August slumped 8.8 per cent from the same time last year, totalling USD 284.87 billion, and were slower than the 14.5 per cent last month, according to customs data on Thursday. Imports slid 7.3 per cent from a year ago to USD 216.51 billion, but beat consensus estimates of a 9 per cent decline. China's trade surplus contracted 13.2 per cent to USD 68.36 billion, lower than the USD 80.6 billion in July. Chinese leaders have in recent months rolled out several policy measures to shore up the economy after a post-COVID rebound fizzled earlier than expected. China's central banks have eased borrowing rules, relaxing borrowing rules and lowering mortgage rates for first-time home buyers as well as implementing some tax relief measures for small businesses. However, authorities have yet to announce large-scale stimulus spending or tax cuts. Demand for Chinese exports weakened after the Federal Reserve and central banks in Europe and Asia began raising interest rates last year to cool inflation that was at multi-decade highs.

Another, published last year, found that marigolds and sage plants exposed to the noise of traffic from a busy motorway suffered stunted growth, and produced a range of stress compounds. Other research, much of it done in China, reports that certain frequencies, played in acoustically controlled environments like greenhouses, can affect seed germination and even boost crop yields. And plants can make noises, too, albeit not deliberately.

Nifty Metal index has gained approximately 5 per cent, while the benchmark Nifty has risen by about 2 per cent. With the exception of August, when the metal pack fell by 1.5 per cent, the index has witnessed significant gains since March this year, driven by hopes of a revival in demand both from China and domestically as economic growth picks up. Since September last year, the metal pack ended in the red only four times on a monthly basis.

New Delhi: European Union officials have indicated their disapproval of the draft text for the joint communique scheduled for release at the New Delhi G20 Summit, citing disagreements over language related to the ongoing war in Ukraine. The conflict has been a point of contention within the G20 since last year. The 2022 G20 Summit in Bali produced a joint declaration that criticized Russia for its actions in Ukraine.

Narendra Modi on Thursday called for building a rules-based post-COVID world order and strengthening the voice of the Global South. In an address at the annual ASEAN-India summit here, the prime minister also underlined the need for ensuring a free and open Indo-Pacific. The Association of Southeast Asian Nations (ASEAN) is considered one of the most influential groupings in the region, and India and several other countries including the US, China, Japan and Australia are its dialogue partners. India supports the ASEAN outlook on Indo-Pacific, Modi told the leaders of the grouping. The prime minister described ASEAN as the epicentre of growth, saying it plays a crucial role in global development. The 21st century is Asia's century.

Mahantesh Sabarad, Independent Market Expert, says “we are going to look at the oil and gas sector primarily because the government is now introducing the so-called subsidy element. If that comes true, there could be a little negative news for the oil and gas sector going ahead. The second bit of news is the kind of complete recovery happening in the US economy; probably the IT sector will start announcing newer deal wins and the sector outlook can look potentially better.”What is weighing down on the entire metals pack?The metals’ pack underperformance has to be linked to the Chinese market. Essentially, China is the market that drives the global commodity markets. The depressed real estate market in China which the government is trying to revive foretells us that probably the metal sector demand dynamics will remain quite subdued and therefore, Indian metal market or Indian metal companies being exposed to global commodity prices and price fluctuations are naturally getting affected by that.

G20 Summit being held in India. However, Washington has also highlighted the problems that could lead to the G20 Summit ending without a joint communique. G20 Sherpas are trying to work together on ironing out a final declaration that will be adopted by PM Narendra Modi and other world leaders over the weekend, reported ANI.

Li Qiang said on Wednesday it is important to avoid a «new Cold War» when dealing with conflicts between countries as world leaders gathered in Indonesia amid sharpening geopolitical rivalries across the Indo-Pacific region. Speaking at an annual summit involving members of the Association of Southeast Asian Nations (ASEAN) and China, Japan and South Korea, Li said countries needed to «appropriately handle differences and disputes». «At present, it is very important to oppose taking sides, bloc confrontation and a new Cold War,» Li told the meeting. ASEAN, which has warned of the danger of getting dragged into major powers' disputes, is also holding wider talks with Li, U.S. Vice President Kamala Harris and leaders of partner countries including Japan, South Korea, Australia and India. Neither U.S.