China Financial News

reliance on the dollar. The dominance of the US dollar in international trade and finance has faced increasing challenges, leading to discussions about the future of global economic dynamics and the potential consequences for various stakeholders. This trend, known as de-dollarization, refers to the process by which countries aim to reduce their reliance on the US dollar as the dominant global currency.

Intel Corp and Qualcomm Inc are planning to visit Washington next week to discuss China policy, according to two sources familiar with the matter. The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said.

Bank of China (PBOC) hinted at more policy support for the economy, while also urging patience for the recovery to take hold. Top central bank officials said they have enough room to ease monetary policy if needed and hinted at possible adjustments to the reserve requirement ratio for banks and further targeted easing of property controls.

India is not keen on allowing Chinese electric vehicle maker BYD to set up shop in the country owing to security concerns, according to a report in the Times of India. «There is discomfort in the home and external affairs ministries over the entry of Chinese players in the wake of the government’s stand to keep players from across the border out of the Indian market, given the security concerns around several of them. There are growing concerns in the government that many joint ventures „arranged“ by the Chinese companies — some of which get state support — are „heavily weighed and controlled by the foreign partner“, while the Indian company is more or less a dummy entity, with not much control on technology, decision-making, and other critical know-how,» the Times of India claimed. «In the BYD case, the government has had similar concerns, which have come to the fore now as the Chinese electric company wants to go aggressive on India.» BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, Reuters reported earlier.

Intel Corp and Qualcomm Inc are planning to visit Washington next week to discuss China policy, according to two sources familiar with the matter. The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said.

Multichain, a crypto project that connects different blockchains, said it's shutting down after learning that its founder was taken away by Chinese police. In a Twitter post on Friday, Multichain provided details around the sudden disappearance of its founder and chief executive, identified only by the name Zhaojun, in late May. Multichain is a so-called crypto bridge, which allows users to swap digital tokens across the various blockchains they run on. Speculation around Zhaojun's whereabouts has been swirling since his disappearance, fueled by Multichain's announcement on July 7 that it had seen an unexpected outflow of assets of more than $120 million. After that, Zhaojun's sister transferred remaining user assets to wallets she controlled before she was taken into custody as well, Multichain said on Friday.

China's top diplomat Wang Yi told the Indian foreign minister that bilateral ties need to be stabilised, as the two Asian neighbours searched for ways to ease simmering military tensions along their vast border. On the sidelines of ASEAN meetings in the Indonesian capital of Jakarta, Wang told Indian External Affairs Minister Subrahmanyam Jaishankar that mutual support between the two nations is needed instead of suspicion, according to a readout from the Chinese foreign ministry.India and China share a 3,800-km (2,360-mile) frontier, much of it poorly marked, and fought a brief but bloody war over it in 1962.

Chandrayaan-3 was successfully launched using the GSLV Mark 3 (LVM 3) heavy-lift launch vehicle from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh. Here are the top ten developments. 1.

Sen. Markwayne Mullin, R-Okla., discusses concerns over the economy as the president touts 'Bidenomics.'

BYD and Hyderabad-based Megha Engineering and Infrastructures Limited (MEIL) have submitted a joint proposal for setting up a 10,000-15,000 unit four-wheeler making factory in Hyderabad. According to officials aware of the development, the investment will be close to $1 billion and proposals have been pitched to the Department for Promotion of Industry and Internal Trade (DPIIT). «Investment for the project is going to be made by Megha while the technology and knowhow will come from BYD,» one of the persons associated with the plan told ET, adding that equity structure of the joint venture and mechanisms to send back royalty to BYD are being deliberated.Olectra Greentech, a unit of MEIL has already developed electric buses with technical support from BYD.

Jaishankar on Friday discussed «outstanding issues» along the Line of Actual Control (LAC) with Wang Yi, director of the office of the CPC Central Commission for Foreign Affairs, along the sidelines of the East Asia Summit in Jakarta. Jaishankar said he discussed outstanding issues related to peace and tranquillity along LAC. In June, India and China held yet another round of diplomatic talks on the impasse along LAC in the Ladakh sector. India has maintained that relations cannot be normalised till peace and tranquillity are restored along the LAC. Remaining friction points along the LAC include Depsang and Demchok. Addressing EAS meeting earlier, Jaishankar in an indirect message to China emphasised that the body must be committed to a free, open, inclusive and rules-based Indo-Pacific, with respect for sovereignty and territorial integrity. He said India firmly supported the Asean Outlook on the Indo-Pacific (AOIP) and its implementation through EAS. «There is great synergy between the Indo-Pacific Oceans Initiative proposed by India and AOIP. Quad will always complement Asean and Asean-led mechanisms. AOIP contributes to the vision of the Quad,» Jaishankar said. «India affirms Asean centrality in the Indo-Pacific and advocates the strengthening of EAS.» The statement can be seen as an attempt to assuage Asean misgivings over Quad, a grouping of Australia, India, Japan and the United States.

New Delhi: India’s wholesale price index plunged deeper into deflationary territory in June, even as retail prices, especially food and vegetables, surged, official data showed. The wholesale price index experienced a 4.12% decline in June, driven by lower prices of fuel, textiles, and some food products, according to data released by the commerce and industry ministry on Friday. This decline follows a 3.48% fall in May, marking the third consecutive month of wholesale deflation.

Proxy adviser Institutional Shareholder Services (ISS) is advising its clients to oppose plans to spill Bubs Australia’s existing board and install a new one that includes former a2 Milk executive Peter Nathan.

New Delhi: Declining demand and prices worldwide dragged down India’s exports and imports by more than 20% each in June, trade data released on Friday showed. Merchandise exports fell for the fifth consecutive month, registering a steep 22% decline to $32.97 billion from $42.28 billion a year earlier. The value of petroleum product exports plunged nearly 50% during the period, as prices of refined crude products fell.

The BNB Beacon Chain, the Binance blockchain ecosystem, is expected to undergo a scheduled hard fork upgrade on 19th July at 6:00 UTC, with enhanced security features for users.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

NASA's database on Moon missions.India on Friday launched its third mission to the Moon, Chandrayaan-3, with an aim to soft-land on the surface of Earth's only natural satellite. A successful landing would make India the fourth country to achieve the rare feat after the United States, China and the erstwhile USSR. According to the Indian Space Research Organisation (ISRO), the technically challenging soft landing on the lunar surface, which Chandrayaan-2 could not achieve, has been planned for 5.47 pm on August 23. Former ISRO chairman G Madhavan Nair said the success rate of lunar missions is nearly 50 per cent because of the uncertainties when the rockets leave Earth's gravitational field. «The influence of other planets, from the Sun, is quite a bit. A lot of radiation conditions exist in space and this leaves some equipment or components prone to failure. In India's both missions (Chandrayaan 1 and 2), we have precisely reached the moon's orbit,» Nair told PTI.

Forget “energy transition” and “just transition” to describe the transformation of our energy systems. Call it the “boondoggle transition” because that’s what it is turning into.

WTI Crude oil futures experienced slight pressure in mid-Asia electronic trades following a rise to two-and-a-half-month highs of $77.33 a barrel. The gains were driven by a drop in the US dollar, which fell below the 100 mark, reaching its lowest level since April 2022. The decline in the dollar was triggered by cooling inflation numbers in the US, the world's largest oil-consuming nation.

artificial intelligence into a tutor and research assistant. In the final installment of our how-to editions, we'll take what we've learned and use it to make the most of family time. We'll focus on a few tasks that can take up a lot of mental bandwidth at home. Weekly meal planning is a major chore, and gift-giving can be daunting, with various birthdays and holidays throughout the year. And any adult who has read books for children knows that it can become repetitive, and the books aren't always relatable to a child's situation or growing pains. Here's how AI can help.

5G market share gains in India. Reported sales increased by 74% on-year. Ericsson flagged risks of being unable to supply equipment due to throttling of supplies of key ASIC and FPGA components, printed circuit boards, standard electronics or semiconductors (including foundry node availability) from very few suppliers, due to various reasons including natural disasters, conflicts or other potentially disruptive events.