China Financial News

Morgan Stanley is returning to a bearish view on emerging-market currencies, citing concerns over China’s growth risks that not only weigh on the yuan but also further pressure a weak global economy.

Premier Li Qiang will be representing China during the G20 meet set to be held between 9-10 September in national capital Delhi. Further, Russia's President Vladimir Putin has also decided to skip the G20 Summit meet in Delhi.

Donald Trump's economic agenda for if and when he returns to power to govern the United States after the 2024 US presidential Polls, includes levying harsher trade and tax policies on countries like India and Brazil, if the latter was found imposing higher tariffs on American Goods. The ex-president, Donald Trump, intends to center his economic plans on extending and deepening the Republican tax cuts from 2017, rolling back regulations put forth by President Joe Biden and enacting additional tariffs, according to three people familiar with the discussion.

Nifty settled higher for the fourth consecutive session on Wednesday, September 6, supported by gains in shares of select heavyweights, including HDFC Bankand Bharti Airtel. However, weak global cues curtailed gains for them as concerns over interest rate hikes and weakening global economic growth weighs on market sentiment. In Asian markets, Tokyo, Shanghai and Hong Kong ended in the green while Seoul settled lower.

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Nifty closed higher for the fourth consecutive session on gains in shares of select heavyweights, including HDFC Bank ITC and Bharti Airtel. However, weak global cues curtailed gains for them as concerns over interest rate hikes and weakening global economic growth kept weighing on sentiment. Major European markets in the UK, France and Germany traded lower when the Sensex closed as recent subdued economic prints of China and Europe raised concerns about an economic slowdown.

father of EVs" Wan Gang said efficient batteries, better EV architectures and intelligent driving systems were key to scaling up EVs, calling for international collaboration on research and standards. Speaking at China's World New Energy Vehicle Congress taking place in Munich, Wan, a former science minister widely regarded as a key promoter of EVs in China, said hybrid and fuel cell vehicles powered by hydrogen were an essential part of the transition to low-carbon mobility. «Many of you are very curious about the Chinese viewpoint on fuel cells… hydrogen is an important component of the national energy system,» he said, adding the technology was particularly promising for reducing emissions from commercial vehicles. «We need to promote the whole supply chain of low-carbon development,» he added.

El Nino intensified, and forecasts for lower rainfall in September are further threatening to disrupt supplies. While wheat output forecasts are being revised lower due to dry weather in Australia, the world's second largest exporter, record-low monsoon rains are expected to reduce the volume of crops, including rice, in India, the world's biggest shipper of the grain, meteorologists and analysts said. Insufficient rains in Southeast Asia, meanwhile, could dent supplies of palm oil, the world's most widely used vegetable oil, while extreme weather in top corn and soybean importer China is putting food output at risk. «We are in full-blown El Nino weather in several parts of the world and it is going to intensify towards the end of the year,» said Chris Hyde, a meteorologist at U.S.-based Maxar, which provides climate data analytics. «The weather pattern in Asia will correlate with dry El Nino conditions.» El Nino is a warming of Pacific waters which typically results in drier conditions over Asia and excessive rains in parts of North and South America. LACK OF RAINS IN INDIA, AUSTRALIA India's monsoon rains, crucial for summer crops such as rice, sugarcane, soybeans and corn, are poised to be the weakest in eight years. «The impact of El Nino is much greater than we had anticipated,» said a senior India Meteorological Department official. «This month is going to end with a deficit of over 30%, marking it as the driest August on record.

Krishna and other deities, in anticipation of Janmashtami. As per a TOI report, business owners in the region have reported a surge in demand this year, with bulk orders pouring in from over 40 countries, including the US, Australia, New Zealand, the UAE, and several European nations. Some projections suggest that Janmashtami sales could exceed a staggering Rs 200 crore. Anil Agarwal, hailing from a family with a rich history in apparel manufacturing, told TOI, «In the run-up to the festival, we've shipped costumes worth crores to overseas destinations and various states across India.

ANI. Union Minister of Parliamentary Affairs Pralhad Joshi last week announced that a Special Parliamentary Session would be held between 18-22 September. Congress Parliamentary Party Chairperson Sonia Gandhi, meanwhile, has written to the Prime Minister of India and BJP leader Narendra Modi seeking discussion on several issues during the Special Parliamentary Session between 18-22 September.

Rupee opened at 82.02 a dollar. The US dollar held close to a six-month peak on safe haven buying as jitters over China and global growth weighed on risk appetite. Against a basket of currencies, the dollar was at 104.77, not far off the six-month high of 104.90 touched on Tuesday, Reuters reported.

G20 Summit and it's ready to work with all parties to push for the success of the high-profile global conference in New Delhi this week. At the G20 summit, the spokesperson said China always attaches high importance to the grouping and actively participates in relevant activities. "We support India in hosting this year’s summit and stand ready to work with all parties to make the G20 Summit a success," she said at the conference to be held in New Delhi on September 9-10.

central government employees to not use Apple's iPhones and other foreign devices for official work, The Wall Street Journal reported. The new directive is an attempt by China to cut reliance on foreign technology and limit the flow of sensitive information outside of the country.

global growth and higher crude prices spurring inflationary pressures dented sentiment. The pan-European STOXX 600 index slipped 0.6% to hit its lowest level in more than a week. The global mood soured as Brent crude prices jumped to over $90 a barrel on Tuesday after Saudi Arabia and Russia extended their voluntary supply cuts to year end, fuelling worries about persistent price pressures. While oil prices pulled back slightly, government bond yields continued to rise, with the German 10-year yield surging to a two-week high at 2.65%. «Energy prices are big inflationary drivers, and just at the time when the price spiral appears to be moving more obediently downwards, high crude prices could cause upset,» noted Susannah Streeter, head of money and markets at Hargreaves Lansdown. The weak sentiment from August spilled into this month on worries about how long the major central banks will keep interest rates elevated amid fresh signs of weakness in Chinese and European economies. Investors betting against a European Central Bank interest rate increase next week could be underestimating the likelihood of it happening, the ECB's governing council member Klaas Knot told Bloomberg.Money market futures imply traders are pricing in only a 33% chance that the ECB will hike rates by 25 basis points at the central bank's Sept.

ASEAN Summit in Jakarta will be extremely critical for all stakeholders particularly ASEAN members to drive home point on ASEAN solidarity amid major geo-political upheavals including in SE Asia and Indo-Pacific region. It is imperative for the ASEAN leaders under Indonesia’s presidency to reiterate ASEAN solidarity on key challenges including in the South China Sea region. The ASEAN should be united on matters of Code of Conduct negotiations with China.

China has ordered officials at central government agencies to not use Apple's iPhones and other foreign-branded devices for work or bring them into the office, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The orders were given by superiors to their staff in recent weeks and it wasn't clear how widely the orders were being distributed, the WSJ said.

Central bank digital currencies (CBDC) and blockchain technology are likely to displace traditional banks, according to a lawmaker in Russia.

Resources Minister Madeleine King says tax breaks for critical mineral projects and lithium processing are “on the table”, as the government seeks to compete with US and allied nations for international investment.

Tron founder Justin has predicted that the market is poised to enter a new bull cycle within the next two years. 

Martin Taylor as its new representative to China. Taylor's appointment will help strengthen WHO's cooperation with China, which «will have a vital influence on the health and well-being of 1.4 billion Chinese people and beyond» in the coming years, said Zsuzsanna Jakab, WHO's Acting Regional Director for the Western Pacific.

A Russian beauty salon in Yekaterinburg has become one of the first businesses in the nation to accept a digital ruble payment – breaking new ground for the nation’s CBDC.