China Financial News

Global investors including BlackRock Inc. and Allianz SE may be key stakeholders to watch in Country Garden Holdings Co.’s debt crisis given their recent exposure to the embattled Chinese property developer’s dollar bonds.

The rally in equities is set to grind to a halt as investors come to grips with slowing US growth, and seasonal factors are likely to compound the selling pressure, according to Vantage Point Asset Management.

Its electric cars have been dogged by poor reviews and it’s on pace to make fewer sales this year than General Motors Co. does in a week. 

Intel said on Wednesday it would walk away from its more-than-$5 billion proposed acquisition of Israeli chip maker Tower Semiconductor after failing to win regulatory approval for the deal. The deal required approval from a number of jurisdictions, and China’s State Administration for Market Regulation had yet to sign off by Tuesday’s approval deadline. The Chinese regulator didn’t immediately respond to a request for comment Wednesday.

loan default rates, weaker demand to borrow and a sharp tightening of lending standards by banks. So far, only the very weakest borrowers have hit trouble. It is true that after super-easy postpandemic lending the latest moves could just be a return to normal default rates, not the start of a big jump.

BSE Sensex ended at 65,539.42 up 137.50 points or up 0.2 per cent while the Nifty also closed at 19,465 level, up 30.45 points or 0.16 per cent. Metal and financial stocks saw the most declines following a spike in domestic retail prices that prompted caution, and further worries about China's economic recovery weighed on the market sentiment. Commenting on today's market performance, Vinod Nair, Head of Research at Geojit Financial Services said, "The initial apprehension stemming from an above-expected surge in domestic CPI inflation, driven by higher food prices, induced volatility in the Indian market.

lithium that are key to the energy transition. That has led to growing concerns among Western governments, including in Washington, about their dependence on Beijing. Now, some Western companies and investors are starting to build processing plants in Africa so they can refine the raw materials they mine on the continent locally and export them directly to Europe and the U.S.

OpenAI, the developer behind ChatGPT, is advocating the use of artificial intelligence (AI) in content moderation, touting its potential to enhance operational efficiencies for social media platforms by expediting the processing of challenging tasks.

Aviva and Admiral Group and by easing bond yields. The pan-European STOXX 600 advanced 0.2%, after closing at its lowest level in more than a month on Tuesday. European insurers added 0.5% as Admiral Group jumped 8.0% after the British motor and home insurer posted a marginal rise in its first-half pre-tax profit.

The comments come after a raft of recent figures that have stoked concerns over China's stuttering post-Covid recovery, and after US President Joe Biden said the country's mounting economic problems made it a «ticking time bomb». «After the smooth transition of the epidemic prevention and control, China's economic recovery is a wave-like development and a tortuous process, which will inevitably face difficulties and problems,» foreign ministry spokesman Wang Wenbin said at a regular press conference. «A number of Western politicians and media have hyped up the periodic problems in China's post-epidemic economic recovery process. But eventually, they will for sure be proven wrong,» he added. Retail sales, a key gauge of consumption, grew 2.5 percent year-on-year in July, the National Bureau of Statistics (NBS) said on Tuesday, down from 3.1 percent in June and falling short of analyst expectations.

Tencent Holdings posted a smaller-than-expected 11% rise in second-quarter revenue on Wednesday, as the country's sputtering economic recovery weighed on the social media and gaming giant's recovery from last year's record downturn. The world's largest video game company and operator of the WeChat messaging platform said revenue reached 149.20 billion yuan ($20.45 billion) for the three months ended June 30.

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Honor, previously a Huawei spin-off brand, is set to make its India comeback in the coming days. The brand which exited the Indian smartphone space in 2020, roughly around the same time it was sold to Shenzhen Zhixin New Information Technology in the aftermath of US sanctions on parent company Huawei that restricted the sale of hardware components to it by American firms, is re-entering the market under the leadership of Realme co-founder Madhav Sheth who quit in June after a 5-year-long stint at the Oppo offshoot.

migrant workers who make up nearly a third of the workforce. Their contribution is a curious blind spot. Meanwhile, politics is tightly constrained, as is civil society: you may be arrested for holding up a placard with a smiley face.

Realme has officially announced the launch of the Realme 11 5G and Realme 11X 5G in India within this month. The Realme 11 5G variant was previously unveiled in China. While it is anticipated that these two models will share similar specifications, the Realme 11X 5G may have a more affordable price point than the base variant.

₹2 lakh ($2500) in FY23 to ₹14.9 lakh ($12,400) in FY47, according to the SBI's latest research report. Prime Minister Narendra Modi while addressing the country during the 77th Independence Day celebrations at the Red Fort said that India will be a developed country by 2047. "In 2047, when the country will be celebrating 100 years of Independence, India will be a developed country", the Prime Minister noted during his speech from the Red Fort.

Foxconn Technology Group in Sriperumbudur, Tamil Nadu is gearing up to dispatch the latest iPhone units shortly after their initial rollout from Chinese factories, reported Bloomberg. This move is aimed at rapidly ramping up the quantity of new iPhones manufactured in India, according to individuals acquainted with the situation. As per the report, Apple is engaged in a multiyear initiative to broaden its manufacturing beyond China.

foreign trade policy advocates the concept of trusted value chain in electronics, which will help address concerns related to bugs and data theft from equipment used in India. According to the commerce ministry, India imported computer hardware and peripherals worth ₹7,255 crore, and electronic components worth ₹8,200 crore from China last fiscal. The government is keen on achieving self-reliance in manufacturing and also tapping greater export opportunities.

BEIJING — Without more stimulus, China is increasingly likely to miss its growth target of around 5% this year, economists said.

Tesla has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday. A post from the carmaker on social media platform Weibo showed the price of the Model S cut 6.7% to 754,900 yuan ($103,477.58) from 808,900 yuan earlier.

Asian shares have declined amid worries over discouraging data on China, as well as over the future of the U.S. economy