City Beijing Financial News

China increasingly isolated and the US and its allies seeking a developing-market champion, India is having a moment. But is it ready? The tailwinds are there. The $3.4 trillion economy is among the fastest growing globally, and India’s population became the largest in the world earlier this year. Prime Minister Narendra Modi’s government has sought to compensate for low private investment by plowing billions into new infrastructure and using a mix of tariffs and incentives to lure global manufacturers, especially those seeking to diversify away from China. India will contribute just over 15% to global growth this year, according to the International Monetary Fund, right behind China’s 35% and more than the entire Western hemisphere’s 14%.

By Jamie McGeever

G20 Summit, External Affairs Minister S Jaishankar on Monday said the focus should be on the position taken by countries on key burning issues than on the levels of representations at the conclave. «At the end of the day, countries are represented by whoever they have chosen to represent them.

G20 summit in New Delhi. That would make him the second major leader after Russia’s President Vladimir Putin to skip the event.

Aspiring Taiwanese independent presidential candidate Terry Gou has resigned from the board of Foxconn, the Apple supplier he founded nearly a half-century ago

Taiwan’s government is racing to counter China, buying nearly $19 billion in military equipment from the United States, and extending military conscription for men to a year starting in 2024

By Joice Alves

renewable energy and agriculture. “The policy rhetoric of extending more support to private enterprises is encouraging, but concrete measures and a more predictable, rule-based and well-communicated regulatory framework is needed before their confidence is restored to borrow and invest," CreditSights’ Zeng said.

By Amanda Cooper

Investing.com -- Chinese shares jump as traders bet that recent U.S. unemployment figures may convince officials at the Federal Reserve to keep interest rates steady this month, while markets awaited more possible stimulus measures from Beijing. Elsewhere, international leaders prepare to attend the G20 summit in India later this week, although the gathering will not feature Chinese President Xi Jinping.

The head of the Digital Currency Research Institute at the People's Bank of China (PBOC), Changchun Mu, has emphasized the necessity of making the digital yuan available for all retail payment scenarios. 

Antonio Tajani travels to China this weekend, he'll be balancing two competing interests: laying the ground for Italy’s exit from a controversial investment pact with Beijing while also trying to avoid a rupture with the world's second-largest economy. During a three-day trip starting on Saturday, Prime Minister Giorgia Meloni’s deputy will meet with Chinese Foreign Minister Wang Yi and other officials to discuss the possibility of leaving the Belt and Road Initiative, an investment pact designed to deepen economic ties with allies. Just before boarding a plane to China, Tajani said that the 2019 agreement had fallen short of expectations. “Belt and Road was a decision made in the past,” Tajani told Francine Lacqua in a Bloomberg Television interview on Saturday at the Ambrosetti Forum in Cernobbio, Italy.

«It's in the US interest. It's in China's interest.

G20 Summit in India next week, instead of President Xi Jinping who is going to skip the conclave, said people familiar with the development on Saturday. “The Chinese President is not traveling to India for the G20 Summit. Premier Li is likely to represent China at the Summit," said one of the people cited above on the condition of anonymity.

HONG KONG—A new Cold War-style competition has put the moon back at the center of global space ambitions, but the U.S. has a new chief rival. More nations and companies are venturing into space, crowding the calendar with planned robotic landings for lunar research.

Trade, investment, people-to-people links as well as regional and international security are among the issues up for discussion in next Thursday's talks, Foreign Minster Penny Wong's office said. The high-level dialogue had been held annually from 2014 until it was stopped in 2020. In a statement, Wong added that the talks represent 'another step towards increasing bilateral engagement and stabilising our relationship with China,' Former trade minister Craig Emerson will head the Australian delegation, which also includes their former foreign affairs minister Julie Bishop.

BEIJING/SHANGHAI (Reuters) -Chinese President Xi Jinping said on Saturday that China would widen market access in the service industry and promote cross-border services trade.

By Xie Yu, Kevin Huang and Li Gu

The entire Bolshoi Ussursky Island in Russia's Amur region has been displayed as Chinese territory in the new map and this could be a cause of tensions between Moscow and Beijing. The island is situated at the confluence of Amur and Ussuri rivers and located close to the Russian city of Khabarovsk making it strategically important, according to experts on Sino-Russian ties. While Russia ceded part of the island to China in 2004 under the border pact, China has a centuries-old grievance from the 19th century when it was forced to cede the territory to Tsarist Russia under two treaties of 1858 and 1860. But the cracks appearing in the Sino-Russian ties are not new.

By Ankika Biswas and Shashwat Chauhan

By Liangping Gao and Clare Jim