China Financial News

European Commission will analyse the US ban on new US investment in China in sensitive technologies such as computer chips and is in close contact with the US administration, the EU executive said on Thursday. US President Joe Biden on Wednesday signed an executive order to prohibit or restrict US investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems.

Joe Biden's move to prohibit some US technology investments in China is expected to keep investors on the sidelines, concerned that tougher measures are ahead as tensions simmer between the world's two biggest economies. US private equity and venture capital investors have already hit the brakes on sensitive technologies in China as relations have worsened since the administration of Biden's predecessor, Donald Trump, over issues from tech to China's industrial policies to national security.

Joe Biden to prohibit some tech investments in China, adding it was continuing to assess potential national security risks. Biden signed an executive order on Wednesday that authorizes the US Treasury secretary to prohibit or restrict US investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems.

The Indian Express, these villages are part of the Vibrant Villages Programme (VVP) initiated by the government. As per an internal communication, the headquarters of the Indo-Tibetan Border Police (ITBP) has instructed its personnel in these regions to assign Liaison Officers (LOs) to accompany the "sarpanches and guests." These LOs will accompany them on their journey from the district headquarters to Delhi and back to the district headquarters, IE reported.

China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia in a potential boon for their tourism industries. The decision was announced by China's culture and tourism ministry on Thursday, effective immediately. Prior to the pandemic, mainland Chinese tourists spent more than any other country's tourists when abroad, clocking up a combined $255 billion in 2019 with group tours estimated to account for roughly 60% of that.

The Russian digital ruble pilot proper will begin next week, says the country’s Central Bank, with 600 citizens set to become the first people in the nation to use the CBDC.

Punita Kumar Sinha, Managing Partner, Pacific Paradigm Advisors, says “every company globally is now looking at India as a source of opportunity and growth. They are all finding ways to invest more in India. So there is a lot of strategic interest in India.

Meanwhile, from the Indian standpoint, investors will be keenly looking at the monetary policy announcements during the day. The October gold futures were trading with losses at Rs 58,966 per 10 grams on the MCX in the opening trade, down Rs 282 or 0.48%. Meanwhile, September Silver futures were trading at Rs 69950, down Rs 266 or 0.38%.

The initiative was launched to boost flood resilience in major cities and make better use of rainwater through architectural, engineering and infrastructural tweaks. But cities remain vulnerable to heavy rain. In July alone, floods and related geological disasters caused 142 deaths and disappearances, destroyed 2,300 homes and caused direct economic losses of 15.78 billion yuan ($2.19 billion), China's emergency ministry said on Monday.

The Ministry of Industry and Information Technology (MIIT) said late on Tuesday that apps without proper filings will be punished after the grace period that will end in March next year, a move that experts say would potentially restrict the number of apps and hit small developers hard. You Yunting, a lawyer with Shanghai-based DeBund Law Offices, said the order is effectively requiring approvals from the ministry.

European Union rules that require proof that crops weren’t grown on deforested land, which producers say will add to the cost of making food. The latest example of the backlash comes from Brazil, the biggest global exporter of coffee and soybeans. Just this week, the nation’s agriculture minister, Carlos Fávaro, lashed out against the ban, casting doubt on whether it complies with the principles of the World Trade Organization. He added that Brazil is seeking to boost trade with others outside of the EU, including within the five-nation BRICS bloc that also includes Russia, India, China and South Africa. Brazil is already a steward of the environment, Fávaro said. “If Europe does not want to understand that, there are others that recognize what Brazil does,” he said. Complying with the new rules will involve implementing full traceability to complex production chains — a task that’s likely to be complicated and expensive. The requirement will apply to a wide range of products, from meat to palm oil, and that will add to agricultural costs at a time when food inflation is once again starting to pick up. Higher prices won’t just impact buyers in Europe. Since the market is so large, growers will likely need to adopt the new practices quite broadly. Consumers around the globe could end up footing the bill as producers pass on the new costs.

Beijing on Thursday vowed to «safeguard» its interests against a new US policy to restrict investment in Chinese technology, accusing Washington of disrupting global supply chains. US President Joe Biden hours earlier announced an executive order directing the Treasury Department to restrict certain US investments in China in sensitive high-tech sectors including semiconductors, quantum computing and artificial intelligence.

FOR THE past two years, policymakers in most of the world’s biggest economies have faced an excruciating stagflationary dilemma. They have wrestled simultaneously with high inflation, which demands steep interest rates, and fears of a recession, which would normally call for policy easing. The exception is China.

Read RBI Policy Live Updates here The US dollar index - which measures the currency against six counterparts, including the euro and yen - was little changed at 102.50 in ahead of US inflation data later Thursday. Market participants will also watch for the US inflation data later today. “Rupee is likely to appreciate today amid a soft dollar.

«I think China is headed to a serious problem of deflation and we saw that with the numbers today and that means that they are going to have to do a lot to prop up economic activity,» says Peter Cardillo, Spartan Capital Securities.In light of the current deflation that is getting reported in China, how do you think the government is going to react? Are you expecting stimulus measures? Are you expecting tax cuts? What exactly do you expect the government to do? Do you think there is going to be higher spending by the government?I think China is headed to a serious problem of deflation and we saw that with the numbers today and that means that they are going to have to do a lot to prop up economic activity. Probably incentives on taxes and if need be, continue with relaxed monetary policy and government intervention.

Joe Biden on Wednesday signed an executive order that will prohibit some new US investment in China in sensitive technologies like computer chips and require government notification in other tech sectors. The long-awaited order authorizes the US Treasury secretary to prohibit or restrict US investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems.

More Chinese citizens and firms are using the digital yuan, China’s central bank digital currency (CBDC), to pay their taxes, state organs, and government-owned banks have claimed.

Gold prices hovered near one-month lows on Thursday, as investors braced for the make-or-break U.S. inflation data that would shape the Federal Reserve's upcoming interest rate decisions. FUNDAMENTALS * Spot gold was steady at $1,916.19 per ounce by 0123 GMT, a few dollars away from its lowest level since July 10 hit on Wednesday.

Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment.

dollar held near the centre of its range this week against a basket of major peers, as investors awaited key U.S. inflation data later Thursday that could influence the path for Federal Reserve policy. The U.S.

Day trading guide for today: Despite mixed Asian stock market trends on China's deflation worries, Indian stock market reversed from morning worries and ended higher on Wednesday. Nifty index added 61 points and finished at 19,632 levels, Sensex gained 149 points and closed at 65,995 mark whereas Bank Nifty index went down 83 points and closed at 44,880 levels.