China Financial News

15.06 / 13:03

Stablecoin Tether Tether Condemns 3 'False Rumors’ About Its Exposure

Tether, the company that issues the biggest USD-pegged stablecoin USDT, said that it condemns what it calls “false rumors” that its holdings include large amounts of Chinese commercial paper that supposedly trades at a discount. The company also distanced itself from Celsius (CEL) and Three Arrows Capital-related rumors.

15.06 / 05:19

Citi Reuters Aware China's economic numbers come in better than expected, but 'difficulties and challenges' remain

BEIJING — China released economic data for May that topped muted expectations for a month hampered by Covid controls. Industrial production rose mildly by 0.7% in May from a year ago, versus an expected 0.7% drop, according to analysts polled by Reuters. In April, industrial production unexpectedly fell, down by 2.9% year-on-year. Retail sales fell less than expected, down by 6.7% in May from a year ago. Retail sales were estimated to have declined by 7.1% in May from a year ago, according to the Reuters poll. In April, retail sales fell by 11.1% from a year ago. Fixed asset investment for the January to May period rose by 6.2%, topping expectations of 6% growth.

15.06 / 03:21

UPS Citi Waves luxury brands Luxury brands say China's latest Covid wave has whacked consumer demand

BEIJING — Luxury brands have slashed expectations for their China business this year after the country's latest Covid lockdowns, according to an Oliver Wyman survey shared exclusively with CNBC.

14.06 / 10:55

Citi Volkswagen Tesla Southern Most factories in Shanghai resume work as Covid controls ease, ministry says

BEIJING — Factories in two of China's Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according to China's Ministry of Industry and Information Technology.

14.06 / 06:43

Volkswagen Tesla Audi BYD is selling so many electric cars it's become one of the top three automakers in China

BEIJING — Chinese electric car maker BYD saw sales more than double in May, solidifying the company's climb into the ranks of the top three automakers in China.

13.06 / 14:51

Government IPO Bitcoin Chinese chip designer reportedly filed for $50M Nasdaq IPO

Chinese mining chip designer Nano Labs has applied for an initial public offering (IPO) in the United States to raise $50 million on Nasdaq amid sluggish market conditions.

13.06 / 10:45

Strategy Biden is 'paying lip service' to the U.S. position on Taiwan, former Chinese army officer says

BEIJING — There is an increasing wariness of U.S. claims to recognize Beijing as the sole legal government of China, a retired officer of the People's Liberation Army told CNBC on Monday.

13.06 / 04:51

UPS Software Tesla Baidu Chinese automakers want to bring assisted driving to the masses

BEIJING — As Chinese companies race for a slice of the world's largest car market, they're betting heavily on assisted driving technology.

12.06 / 22:31

Citi FIVE week Economy Week Ahead: Fed, Other Central Banks in Focus

The Federal Reserve’s policy meeting highlights this week’s slate of economic news.

12.06 / 22:09

Art News exit Exit polls: Macron's Ensemble in the lead after French parliamentary election first round

The first exit polls after the French parliamentary election's opening round on Sunday show that President Emmanuel Macron's coalition Ensemble is well on its way to gathering most of the 577 seats available to the MPs chasing the new five-year term.

12.06 / 17:25

markets cryptocurrency inflation Moneycontrol Selects: Top stories this evening

Here are the top stories this evening:

12.06 / 12:59

Digital Accenture Bitcoin place Land ahoy! Unraveling how Asia can be the next big place for crypto adoption

Accenture recently carried out a survey studying digital asset portfolios of Asian investors. Accenture research suggests that cryptocurrencies will see a huge growth in the future among elite Asian investors. More than 50% of wealthy investors already hold cryptocurrencies and another 21% are likely to add them by year end.

11.06 / 22:47

markets Tether Federal Reserve crypto market cap The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell

The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction.

11.06 / 09:15

business Blockchain ATM Bitcoin recovery Bitcoin ecosystem makes a U-turn recovery in global ATM installations

Bitcoin (BTC) ATM installations have marked a new comeback as June 2022 saw the reversal of the five-month-long downward trajectory for the first time this year.

10.06 / 15:37

economics inflation US Inflation for May Hits 8.6%, Above Analysts’ Expectations

US inflation hit 8.6% in May, up from 8.3% in April and above analysts’ expectations.

10.06 / 10:37

UPS Lowe's China’s Inflationary Pressures Stay Muted

HONG KONG—Inflationary pressure stayed soft in China as Covid-19 lockdowns hammered domestic demand, leading economists to forecast that policy makers may ramp up stimulus to boost economic growth and employment.

10.06 / 06:07

business Marketplace Alibaba Cloud launches NFT solution… then quickly memory holes it

The cloud business unit of Chinese marketplace giant Alibaba Group Holdings launched a new NFT solution and then promptly deleted all mention of it online.

09.06 / 20:41

FIVE Tesla UBS Novavax Stocks making the biggest moves midday: Tesla, Five Below, Novavax, Nio and more

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09.06 / 15:13

Oil prices U.S., European Allies Try to Restrain Global Oil Prices

WASHINGTON—The U.S. and its allies are searching for ways to limit further surges in global oil prices, attempting to balance efforts to cut off Russia’s revenue from its energy sales while shielding the global economy from a possible recession.

09.06 / 15:07

Target Intel Novavax Stocks making the biggest moves premarket: Target, Novavax, Nio and more

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09.06 / 14:45

U.S. Considering Reducing Tariffs on China to Ease Inflation, Yellen Says

WASHINGTON—Treasury Secretary Janet Yellen said the Biden administration is considering ways to reconfigure tariffs on imports from China as a means of helping to ease decades-high inflation.

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