China Financial News

factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy. Industrial output fell 2.0% in July from the previous month, data from the Ministry of Economy, Trade and Industry showed on Thursday. The reading was worse than a median market forecast for a 1.4% drop and followed 2.4% growth in June. Production of cars rose 0.6% thanks to easing supply chain constraints for automakers.

Biden administration has approved the first-ever US military transfer to Taiwan under a programme generally reserved for assistance to sovereign, independent states. The State Department notified Congress of the sale on Wednesday.

Asian shares were set for the worst month since February, with sentiment hurt by still-gloomy China factory activity, while investors were also cautious ahead of a barrage of U.S. data that could add to bets that interest rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February.

reliance on China and Taiwan. In the aftermath of his inaugural Republican presidential primary debate, the 38-year-old Indian American Republican presidential contender put forward his policy vision and international outlook.

Indian stock market is expected to open higher on Thursday amid positive global cues. Asian markets gained following overnight rally on Wall Street as weak US GDP data resurfaced expectations of a pause in interest rate hike by the US Federal Reserve. Meanwhile investors will watch for India’s April-June quarter GDP data set to be released later today.

real estate business and his presidential tenure. During a private questioning in April, he asserted that his company has abundant funds and argued that he prevented a nuclear war, thereby saving countless lives.

China is readying a fresh digital yuan adoption push ahead of next month’s Asian Games, with the nation ready to show off its CBDC to a large international audience for the first time.

interest rates on existing mortgages and deposits, the latest state-directed measures to shore up growth in the world's second-largest economy. The big state-owned lenders are working on reducing rates on the majority of the nation's 38.6 trillion yuan ($5.3 trillion) of outstanding mortgages, according to people familiar with the matter. The reductions will only affect loans on first homes, two of the people said. Lenders such as Industrial & Commercial Bank of China Ltd.

Country Garden Holdings posted a record first-half loss of almost $7 billion and warned it may default on its debt, underscoring how China's deepening real estate slump has battered one of its former property giants. Country Garden said that if its financial performance continues to deteriorate, the group might not be able to fulfill its debt obligations, «which may result in default,» according to a filing Wednesday. The developer also cited «material uncertainties» that may cast «significant doubt on the group's ability to continue as a going concern.» The warnings highlight how China’s deepening real estate crisis has battered one of its property giants.

Oppenheimer' has made its official debut in China, generating an estimated $5.4 million in box office revenue. Impressively, the film has garnered strong positive word of mouth, boasting a remarkable audience score of 9.5 on the Maoyan platform.

Fortescue’s radical green reinvention triggered the exit of departing chief executive Fiona Hick, who faced a choice to “get on the bus, or get off the bus”, according to executive chairman Andrew Forrest.

While the attention has been firmly on GenesisCare’s up-for-sale operations in the United States, some lenders are beginning to toy with the idea of a voluntary administration for the cancer services provider’s local operations.

Albemarle chief executive Kent Masters considers the battery chemical giant’s $5.5 billion bid for aspiring lithium producer Liontown Resources a live offer, despite no meaningful discussions between the two parties for the past five months.

Nvidia artificial intelligence chip exports to certain countries in the Middle East, the company said in a regulatory filing this week. «During the second quarter of fiscal year 2024, the USG (US government) informed us of an additional licensing requirement for a subset of A100 and H100 products destined to certain customers and other regions, including some countries in the Middle East,» Nvidia said in the filing. One year ago Nvidia said US officials told it to stop exporting the same two computing chips for AI work to China. The move was seen as potentially slowing Chinese firms' ability to carry out advanced work like image recognition. The announcement also signaled at that time a major escalation of the US crackdown on China's technological capabilities as tensions bubble over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured. The securities filing, posted Aug.

Singapore are becoming embroiled in one of the city-state's largest money laundering cases involving over S$1 billion ($740 million) of assets. In charge sheets seen by Bloomberg News, some of the individuals who were arrested and charged this month held funds totally millions from unlicensed moneylending in China and illegal gambling in United Overseas Bank Ltd. and the local units of Citigroup Inc. and RHB Bank Bhd.

airport, was a reminder of the difficulty U.S. companies face. Chinese airlines resumed flights with the 737 MAX in January, but the simmering U.S.-China trade dispute has limited deliveries to a handful of other Boeing aircraft in recent years and all but halted new orders.

NEW DELHI : Germany will not sign a joint statement that ignores Russia’s war of aggression against Ukraine, said Germany’s G20 sherpa Jorg Kukies. In an interview with Mint, Kukies said that while G20 countries are willing to compromise on language relating to the Ukraine war, Germany does not agree with the position, as articulated by China, that discussion of the Ukraine war does not belong in an economic grouping like the G20. Kukies, who also serves as Germany’s state secretary for finance, noted the need for reforming multilateral development banks and increasing their lending capacity.

Chedun, a working-class neighborhood in the southwestern outskirts of Shanghai, the signs of an anemic economy are all around. The factories that once drew workers from around the country have moved away. Those that remain have slashed wages. Around the affordable eateries and motley shops where workers once crowded, employees eagerly latch onto anyone passing by. “No one has money now, it’s obvious,” Cherry Qian, 25, said as she sat inside the electronics store she manages. But there’s one place the slump isn’t as obvious: in the government’s account of it. A gulf has emerged between the Chinese economy as many Chinese are experiencing it, and Beijing’s narrative of it — and that gulf is only widening. For many ordinary Chinese, one of the worst economic slowdowns the country has faced in decades has translated into widespread pessiYouth at a job fair in Wuhan mism and resignation. But state media and officials continue to declare that any challenges are blips. Concerns about the economy, propaganda outlets have insisted, have been inflated by Western politicians and media outlets engaged in “cognitive warfare.” One social media account backed by China’s state broadcaster released a video that purported to investigate how foreign news outlets had cherry-picked statistics that predicted higher economic growth, just so they could later say China fell short. When the reality has proved too inconvenient, another approach has simply been to conceal it, as when Beijing this month stopped publishing the youth unemployment rate, which had been at a record high.

India all that much. This is disheartening, especially at a time when most Indians truly believe that everyone (except maybe the Chinese and Pakistanis) love them. According to the Washington-based Pew Research Centre, while 68% of Indian adults strongly believe that India's influence has risen in the world, only a median of 28% of adults in 19 other countries seem to agree. The survey by the phoren think-tank also says that barring Nigeria and Kenya, the favourability ratings for India have dipped in most countries.

Typhoon Saola, having pounded Taiwan with torrential rain and powerful winds, is now bearing down on China's southern coast and Hong Kong as it gains strength. The typhoon, recently upgraded to the status of a formidable typhoon, is projected to make landfall along China’s southern Guangdong province before approaching Hong Kong over the upcoming Friday and Saturday.

anti-dumping duty worth $41.8-243 per metric ton of toughened glass for home appliances imported from China. The proposed duty is for toughness glass having thickness between 1.8-8 mm and area of 0.4 SqM or less. The Directorate General of Trade Remedies (DGTR) made this recommendation based on an application filed by the Federation of Safety Glass on behalf of GSC Glass (P) Ltd.