China Financial News

America and China, the Western power has been more aggressive of late. Last year President Joe Biden’s administration laid out harsh restrictions limiting Chinese artificial-intelligence (AI) firms’ access to American technology. America has also been coaxing allies to follow its lead.

US Federal Reserve June meeting minutes, due later in the day. The local unit fell 3 paise to open at 82.05 a dollar as compared to the previous close of 82.02. Asian currencies declined on Wednesday after data revealed that China's services activity retreated in June.

WiFi was pitched by the government as a key driver of broadband coverage, the results aren’t very flattering.India has missed its public WiFi hotspots rollout target by a mile. The count is a paltry 0.5 million, a far cry from the 10-million target by the end of 2022 outlined in the National Digital Communications Policy-2018.

" I think it is less to do with the Chinese domestic economy. Eventually, I think that has to find its own path because we need to understand it has a base of 15 to 18 trillion, depends on what estimates you take," says Anurag Singh, Managing Partner, Ansid Capital.Do tell us, as far as Chinese curbs go on these metals, on gallium and germanium, it seems like a tit-for-tat move because it came close on the heels of America deciding that it is not going to pass on advanced technology to China as easily as it did in the past. Technology that would help develop artificial intelligence for one. But as far as Chinese curbs go on these two metals, how much could it actually hurt a Chinese economy that's struggling to find its feet after the pandemic? I think it is less to do with the Chinese domestic economy.

London | A race between European and Chinese energy groups to lock in shipments of liquefied natural gas from the US is driving investment in a range of export projects that will boost a market facing a potential supply shortage.

Reuters. If restrictions targeting China's high-technology sector continue then countermeasures will escalate, Wei said.  Meanwhile, according to Wall Street Journal, China set export restrictions on two minerals the US says are critical to the production of semiconductors, missile systems and solar cells, a show of force ahead of economic talks between two rivals that increasingly set trade rules to achieve technological dominance.

China has been battling with a severe heatwave and temperature records have recently been broken. A report by the Intergovernmental Panel on Climate Change in March said that global temperatures are likely to rise by 1.5C in the near future.

data, with a firmer dollar keeping prices in check.FUNDAMENTALS * Spot gold held steady at $1,926.52 per ounce by 0034 GMT, while U.S. gold futures rose 0.3% to $1,934.30.

supply due to output cuts announced by top exporters Saudi Arabia and Russia for August. Brent crude was down 14 cents, or 0.2%, at $76.11 a barrel by 0027 GMT, after climbing $1.60 on Tuesday. U.S.

Account abstraction, also known as “smart accounts” could eventually onboard a billion users from the Asia region to Web3, according to an executive at Ethereum software solutions provider ConsenSys.

Xi Jinping pitched for his country’s Belt and Road Initiative (BRI) in his speech at the SCO Summit on Tuesday, claiming that the infrastructure project would facilitate regional cooperation and trade and investment, even as host India expressed reservations over such initiatives. Xi called for “efforts to better synergise high-quality cooperation under the BRI with various countries’ development strategies and regional cooperation initiatives”.

A strike among B.C. cargo loaders at some of Canada’s biggest ports might push prices higher for consumers across the country if the work stoppage stretches much longer, experts say.

Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the region’s dollar, which could challenge the dominance of Tether and USD Coin.

consumer spending, a crisis-ridden property market, flagging exports, record youth unemployment and towering local government debt. The impact of these strains is starting to reverberate around the globe, impacting everything from commodity prices to equity markets.

Effective 1 August, exporters of gallium and germanium in China will need a licence to ship these two precious metals used in the manufacture of semiconductors. Considering that China produces 60% of the world’s germanium, according to Europe’s Critical Raw Materials Alliance, and 80% of all gallium, Beijing’s move could hamper chip-making outside China.

Hopes that China’s anti-crypto stance could soon change have been crushed by the appointment of a known crypto-critic as the Communist Party’s top official at the People’s Bank of China (PBoC).

China-founded online retailer Shein is in talks with at least three investment banks about a potential U.S. initial public offering.

Prime Minister Narendra Modi Tuesday said the members of Shanghai Cooperation Organisation can work towards maximizing the utilization of the Chabahar Port following Iran's membership of the world's largest regional organization. "The International North-South Transport Corridor can serve as a secure and efficient route for landlocked countries in Central Asia to access the Indian Ocean. We should strive to realize its full potential," the prime minister said.

Also Read: Samvardhana Motherson to buy 100% stake in France-based Cirma Entreprise for 7.2 million euros ‘’The company has entered into a partnership with Honda Motor under which it will form an 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, said SAMIL. The acquisition requires approval from authorities in China, Brazil, United States, as well as the Reserve Bank of India, said SAMIL in the exchange filing.

By Echo Wang and Anirban Sen

Forest Man of India Jadav Payeng highlighted the importance of planting sandalwood trees for their environmental and economic value in IIM Shillong. IIM Shillong commemorated its 16th Inaugural Day on July 4, 2023. The 16th Inaugural Day celebration featured a plantation drive led by the students and attended by various stakeholders.