China Financial News
17.08 / 17:17
17.08 / 16:47
COST
Manufacturing
Action
Remark
ICE
country
end
India can usher in the beginning of the end of an ICE Age globally
Narendra Modi perfectly summarize where we as a nation are headed. As India embraces its 77th year of independence, we must understand the magnitude of the potential that the future holds. India has one of the world’s largest and fastest growing domestic markets, supported by strong policy momentum, entrepreneurial and innovative companies, world-class talent and capital access.
17.08 / 16:33
IPO
Manufacturing
Mobile
Samsung
show
electronic
Data recap: Inflation, IPO revival, millets in diet
Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Retail inflation unexpectedly surpassed the 7%-mark in July due to high vegetable prices, Samsung will receive the highest payout under the government’s production-linked incentive (PLI) scheme for mobile manufacturing, and Russia surpassed Iraq as India’s largest supplier of crude oil. Retail inflation in India hit a 15-month high of 7.4% in July on account of a sharp rise in vegetable prices.
17.08 / 16:33
Provident
Target
Fighting
Celebrity
show
Bears
Beware the three bears now that Goldilocks has exited
reality is that China is unlikely to be a counterbalance to a potential slowdown in developed economies this time, unlike during the 2008-09 global financial crisis. But despite a slowing China, geopolitical risks and adverse climate events are providing a floor for global food and energy prices. The third bear is India’s domestic consumption growth.
17.08 / 15:49
UPS
Lowe's
show
boost
China's yuan falls against dollar, raising questions about weaker currency to boost exports
China’s yuan has dipped briefly to a 16-year low against the dollar, raising questions about whether Beijing might weaken its currency to help struggling exporters and reverse a deepening economic slump
17.08 / 15:21
Ethereum
Volatility
Oil
Bitcoin
Kaiko Research: Bitcoin and Ethereum Are Now Less Volatile Than Oil Amid Dwindling Liquidity
Bitcoin (BTC) and Ethereum (ETH) are now slightly less volatile than oil as both assets continue to trade sideways this summer.
17.08 / 14:45
UPS
MET
BLOCK
country
cover
electronic
China says it would welcome a visit by US commerce secretary after imposition of investment controls
China says it would welcome a visit by U.S. Commerce Secretary Gina Raimondo following the imposition of foreign investment controls by her agency that have stung numerous Chinese companies
17.08 / 14:45
Provident
FIVE
Manufacturing
Walmart
Recall
reports
Over 1.5 million dehumidifiers are under recall after fire reports. Here's what you need to know
More than 1.5 million dehumidifiers are under recall following reports of nearly two dozen fires, the U.S. Consumer Product Safety Commission said Wednesday
17.08 / 14:45
Booking
Airlines
Airlines are adding new routes and making a bold bet on continued strong demand for travel
Airlines are betting that the travel recovery remains red-hot
17.08 / 14:35
UPS
Target
Manufacturing
UBS
country
India’s growth could rise to 6.25-6.75% by 2030 owing to supply chain shifts and reforms: UBS
supply chain shift happening owing to the US-China trade war, deglobalization and pandemic disruptions, according to a UBS report. While the report released Thursday noted that no single country could replicate China’s success in manufacturing, it said that India could benefit from supply chain shifts and reforms, which could also result in job creation. “Growth could rise to 6.25-6.75% YoY by 2030 under an optimistic scenario and 6.75-7.25% YoY under a blue-sky scenario, leading to job creation,” Tanvi Gupta Jain, chief India economist, UBS, noted.
17.08 / 14:35
UPS
Lowe's
NASDAQ
MSCI
show
US 10-year Treasury yield hits highest in 10 months, drags on shares
Treasury yield on Thursday reached its highest in 10 months, underpinned by fears that U.S. interest rates might stay higher for longer, contributing, along with China's economic woes, to world stocks languishing at five-week lows. Benchmark 10-year yields reached 4.312%, testing October's 4.338%, a break past which would be its highest since 2007.
17.08 / 13:51
Government
Adoption
regulation
Web3
Banks
Hong Kong’s crypto stance: Execs weigh in on Web3 in the region
The Chinese special administrative region of Hong Kong is aiming to become a leading crypto hub, as the region started to promote the development of Web3. At the same time, its securities regulator has begun to actively regulate the crypto space, awarding licenses for retail crypto trading.
17.08 / 13:37
UPS
Target
Ripple
Manufacturing
Remark
country
veteran
China's economic model is 'washed up on the beach,' says veteran investor David Roche
China's economic model is «washed up on the beach» and «not going to take off again,» which will have a big impact on global markets, says veteran investor David Roche.
17.08 / 13:21
Blockchain
Metaverse
expansion
Sichuan Province of China Targets Metaverse Industry Expansion to Reach $34.4 Billion by 2025
Sichuan, a southwestern Chinese province, once recognized as a thriving crypto mining hub prior to the national ban on mining, is now looking to expand the metaverse industry.
17.08 / 13:17
COST
Target
Reuters
show
country
Tyson Foods plans to divest Chinese poultry business - Reuters
Investing.com — Tyson Foods (NYSE:TSN) is planning to sell its poultry business in China, according to three unnamed sources quoted by Reuters, making it one of a string of foreign firms who have been looking to reduce their operations in the country.
17.08 / 13:13
country
International
Destinations
approved
China releases list of approved international destinations for group tour, excludes Canada
covid-19 pandemic and the induced lockdown, outbound tourism from China was a valuable international commodity. Statistics from the World Tourism Organization suggest Chinese travellers spent $255 billion in 2019, accounting for 20 per cent of all international tourism spending.
17.08 / 12:59
JPMorgan
country
Factbox-Big brokerages cut China growth forecast on growing worries over property sector
(Reuters) — Four major brokerages cut China's economic growth forecast for the year as worries about contagion from debt repayment troubles at its top private property developer Country Garden deepened.
17.08 / 12:27
Waters
Discover
social
Posh hotel in China charges additional fee for extra shower, sparks social media backlash
China has sparked strong backlash on social media due to its unusual policy of charging guests for an additional shower or bath. The policy came to light when a Chinese woman staying at the hotel discovered a sign announcing the extra charge, leaving her surprised. The hotel charges a hefty 2500 yuan (approximately Rs 28,850) per night, according to reports.
17.08 / 12:27
COST
UPS
China's state banks seen selling dollars for yuan in London and New York hours
China's major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan's depreciation. Though they also trade on their own behalf or to execute clients' orders, state banks often act at the behest of the central bank when the yuan is under pressure, as it is now.
17.08 / 12:23
Reuters
Chinese state-owned banks sell dollars to halt yuan depreciation: Report
foreign exchange markets, according to sources with direct knowledge of the situation, reported Reuters. State banks frequently follow instructions from the central bank when the yuan is under pressure, as it is now, even if they can also trade on their own behalf or to carry out customer orders. "State bank dollar selling has become a new normal to slow the pace of yuan depreciation," said one Shanghai-based trader to Reuters.
17.08 / 12:23
Provident
Manufacturing
Enterprise
China Market Glossary: Key terms one should know about Chinese economy, latest market selloff
Global investors have raised concerns about China's economy as a confluence of recent events has darkened its economic outlook. To understand the China market sell-off in a better way, here is a glossary of terms one should know around Chinese markets: Beijing Stock Exchange: The stock exchange was established in September 2021 in Beijing, China. It is one of the three main stock exchanges operating in mainland China.
latest developments in China
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