China Financial News

Also read: Fukushima Water Row: Japan receives over 1,000 abusive calls from Chinese citizens The meal was a show of support for the Sanriku Joban region, which includes Fukushima, and an effort to highlight the safety and quality of seafood from the area. Kishida invited reporters to film the meal, "We eat in support of the Sanriku Joban region.

Reliance Industries Ltd. for some three decades, having grown the company from a net profit of $665 million in 2002, to well over $9 billion today. Those are some big shoes to fill.

chips hub to hedge against China-related supply risks. Semiconductors are expected to be a focal point when US President Joe Biden visits Hanoi from September 10 with the goal of formally elevating ties between the two countries. He will offer Vietnam support to boost its chips production, US administration officials said. «Friendshoring» segments of the strategic semiconductors industry has been one of Washington's key inducements to persuade Vietnam's communist leaders to agree to formally upgrade relations.

BEIJING — China's ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries.

Cashed-up West Australian lithium miner IGO has rewarded investors with a hefty dividend after its share of earnings from the world’s largest hard rock lithium mine surged. It signalled plans to double down on its onshore battery metal processing.

Vinit Bolinjkar, Head of Research, Ventura Securities, says “the stock that needs to be bought definitely is Adani Ports, Adani Enterprises, followed by Adani Energy Solutions. My reasoning for these three stocks to be picked up is very simple. Adani Ports is clearly a trade on India's burgeoning exports, especially since China is collapsing. We have already become the fifth largest exporter globally and we are on the threshold of accelerating our exports. Also, the stock has got significant margins, EBITDA margins are one of the best in the world.”Should markets dismiss this new set of allegations against the Adani Group?See, it is actually one A and one B of the same news.

Asian stock markets are mostly lower after Japanese factory activity and Chinese service industry growth weakened

Japan's defense ministry is requesting a nearly 12% budget increase that includes two warships with advanced radar and long-range cruise missiles

Chinese search engine and artificial intelligence firm Baidu has made its ChatGPT-equivalent language model, Ernie Bot, fully available to the public

Garena on Thursday announced the relaunch of Free Fire India, an Indian version of its popular battle royale game Free Fire, over a year and a half after it was blocked. The Sea Ltd-owned game has been relaunched just a few months after the most popular game in the Indian esports ecosystem, Krafton’s Battlegrounds Mobile India (BGMI), returned from a government block on a three-month trial basis late in May. BGMI had roughly 100 million registered users in the country pre-block. Free Fire, a battle royale game where multiple players fight each other in a set location to “survive”, was one of the most popular online games in India before it was blocked, according to executives in the gaming industry. Garena is employing servers run by Yotta, a unit of the Hiranandani group, to provide cloud hosting and data storage services, the firm said in a statement.

Reuters citing two Indian officials, including a diplomat stationed in China and another official from a different G20 nation, have indicated that Premier Li Qiang is projected to attend the New Delhi meeting on September 9-10 as a representative of Beijing. The G20 summit scheduled in India was seen as a potential opportunity for Chinese President Xi Jinping to engage with US President Joe Biden, who has already confirmed his participation.

consumer spending and business investment," the Mint report said. Read more: US Q2 GDP growth revised down to 2.1% annual rate from 2.4% India remains one of the fastest-growing large economies in the world and is expected to witness healthy growth in the current financial year. Experts say while the latest growth prints of major economies of the world show some signs of pressure, the Indian economy is shining.

Xi Jinping is likely to skip a summit of G20 leaders in India next week, sources familiar with the matter in India and China told Reuters. Two Indian officials, one diplomat based in China and one official working for the government of another G20 country said Premier Li Qiang is expected to represent Beijing at the Sept. 9-10 meeting in New Delhi. Spokespersons for the Indian and Chinese foreign ministries did not respond to requests for comment. The summit in India had been viewed as a venue at which Xi may meet with U.S.

BRICS intensified discussions on expansion and a common currency. Originally comprising Brazil, Russia, India, and China, BRICS was coined by Goldman Sachs in the 1990s to encourage investment in emerging economies. South Africa, the first non-original member, aptly led a summit centered on group expansion.BRICS expanded its wings: The BRICS meeting concluded, and the good news is that they are happy to shake hands with 6 more countries- Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates (UAE). Currently, the core BRICS countries control around 23% of global exports and 19% of global imports, and the new members would add 3.7% and 3.0% respectively, with Saudi Arabia being the biggest individual new member in terms of exports and the UAE the biggest new importer. What BRICS+ have now? This alliance includes six leading crude oil producers—Saudi Arabia, Russia, China, UAE, and Iran—yielding substantial energy and geopolitical influence. It unites three top African economies—Egypt, South Africa, and Ethiopia—and South America's key players, Brazil, and Argentina. Strikingly, this coalition bridges the divide between ideological rivals: Sunni-majority Saudi Arabia and Shia-majority Iran. With a diverse mix of economic, energy, and political dynamics, this alignment reflects a complex global landscape where nations with disparate interests find common ground, underscoring the intricate interconnectedness shaping today's international relations. Saudi Arabia, China, Russia, India, and other nations have rapidly bolstered trade and relations.

Japan’s Prime Minister Fumio Kishida has sampled seafood and talked to workers at Tokyo’s Toyosu fish market on a visit to assess the impact of China’s ban on Japanese seafood in reaction to the release of wastewater from the Fukushima Daiichi plant

Manish Singh, CIO, Crossbridge Capital, says “I remain positive on China. I remain positive on emerging markets. What is going to happen is the pie is going to get bigger. We are going to have big global growth as the power of the US, power of the western world reduces and that means the cost of capital goes down in emerging markets. We have more growth and there will be rapid and bigger global growth. ”Let me begin with the Q2 US economic data. It is fair to say that even though it is slightly below estimates, 2.1% is telling us that things are back on track. There is definitely a recovery in the US economy and recession fears are receding. Is that a fair interpretation of the numbers?Anything at 2% and over is something that everyone should be very pleased about and it just keeps the recession fears at bay.

China's factory activity contracted for a fifth straight month in August, official data showed on Thursday, as pressure mounts on Beijing to offer more policy support to bolster its sluggish economy. The reading is the latest to indicate the nation's post-Covid recovery is running off the tracks owing to a decline in overseas demand as well as a drop-off in consumption at home. The official manufacturing purchasing managers' index (PMI) — a key measure of factory output — came in at 49.7 in August, below the 50-point mark that separates expansion and contraction, according to the National Bureau of Statistics (NBS). Still, the reading was slightly higher than the July reading and also beat forecasts. The non-manufacturing PMI, which includes activity in the construction and services sectors, fell to 51.0, from 51.5 in July, according to NBS data.

New Zealand-based biotech Auckland BioSciences is in the market seeking to raise $NZ10 million ($9.2 million) from high net-worth-investors.

Reuters. China Railway has suspended several major train lines and Shanghai halted trains heading to Guangdong, according to local media.

In an interview with Mint, Niraj Kumar, Chief Investment Officer of Future Generali India Life Insurance Company said while India remains an attractive investment destination for long-term investors given its strong macro fundamentals, the current valuations offer a limited margin of safety. Kumar also talked about the sectors that look attractive at this juncture and how General Elections 2024 will influence the market. The global economy has been witnessing conflicting signals in terms of economic activity and growth.

China's Baidu rolled out its ChatGPT rival ERNIE Bot to the public on Thursday, in a major leap for the country's tech sector as it aims to cash in on the global artificial intelligence gold rush. The Chinese government introduced fresh regulations this month for AI developers, aiming to allow them to stay in the race with the likes of Microsoft and OpenAI but still tightly controlling information online. ERNIE Bot is the first domestic AI app to be fully available to the public in China.