City Beijing Financial News
17.08 / 19:35
COST
DOW
COMPOSITE
DAX
rate hikes
Stock market today: Global shares sink after Fed notes dent hopes of rate hikes ending
Global stocks have followed Wall Street lower after notes from a U.S. Federal Reserve meeting dented hopes that interest rate hikes are finished
17.08 / 15:49
UPS
Lowe's
show
boost
China's yuan falls against dollar, raising questions about weaker currency to boost exports
China’s yuan has dipped briefly to a 16-year low against the dollar, raising questions about whether Beijing might weaken its currency to help struggling exporters and reverse a deepening economic slump
17.08 / 14:45
UPS
MET
BLOCK
country
cover
electronic
China says it would welcome a visit by US commerce secretary after imposition of investment controls
China says it would welcome a visit by U.S. Commerce Secretary Gina Raimondo following the imposition of foreign investment controls by her agency that have stung numerous Chinese companies
17.08 / 13:37
UPS
Target
Ripple
Manufacturing
Remark
country
veteran
China's economic model is 'washed up on the beach,' says veteran investor David Roche
China's economic model is «washed up on the beach» and «not going to take off again,» which will have a big impact on global markets, says veteran investor David Roche.
17.08 / 13:13
country
International
Destinations
approved
China releases list of approved international destinations for group tour, excludes Canada
covid-19 pandemic and the induced lockdown, outbound tourism from China was a valuable international commodity. Statistics from the World Tourism Organization suggest Chinese travellers spent $255 billion in 2019, accounting for 20 per cent of all international tourism spending.
17.08 / 12:59
JPMorgan
country
Factbox-Big brokerages cut China growth forecast on growing worries over property sector
(Reuters) — Four major brokerages cut China's economic growth forecast for the year as worries about contagion from debt repayment troubles at its top private property developer Country Garden deepened.
17.08 / 12:13
Provident
Reuters
Manufacturing
Volkswagen
Solomonic
US imports of auto parts face scrutiny under law on Chinese forced labour
Until now, enforcement of a year-old U.S. law that bans the import of goods made in Xinjiang, China, has focused mainly on solar panels, tomatoes and cotton apparel. But now, components that may include lithium-ion batteries, tires and major automobile raw materials aluminum and steel are increasingly subject to detentions at the border.
17.08 / 11:03
UPS
FIVE
Manufacturing
country
U.S. Plans New Tariffs on Food-Can Metal From China, Germany and Canada
International Trade Commission launched the investigation in January in response to a petition from the United Steelworkers union and Ohio-based Cleveland-Cliffs, which owns one of the few remaining tinplate plants in the U.S. They said cheap steel imports were hurting U.S. steelmakers and domestic jobs.
17.08 / 10:39
FIVE
Reuters
Citigroup
Enterprise
show
country
singer
asset manager
Factbox-Five facts about China asset manager whose troubles fanned spillover fears
BEIJING/SHANGHAI (Reuters) — A liquidity crisis at one of China's top asset managers Zhongzhi Enterprise Group has fuelled worries that the country's deepening property sector crisis is spilling over into its $57 trillion financial industry, even as the economy is weakening.
17.08 / 10:39
17.08 / 10:27
Target
JPMorgan
Chase
Morgan Stanley cuts China forecast amid weaker investment
Morgan Stanley reduced its forecasts for China’s economic growth into next year, citing weaker investment due to the property market slump and local government financial stress.
17.08 / 10:15
17.08 / 09:07
MET
country
Executive
executive order
China is considering countermeasures to Biden's executive order
BEIJING — China's Ministry of Commerce signaled Thursday it would respond, if needed, to the Biden administration's executive order to restrict U.S. investments in advanced Chinese technology.
17.08 / 08:15
17.08 / 07:37
COST
Target
COMPOSITE
TJX
rate hikes
Stock market today: Asia follows Wall Street lower after Fed's notes dent hopes of rate hikes ending
Asian stocks have followed Wall Street lower after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished
17.08 / 07:37
COST
Citi
show
country
social
China's Xi calls for patience as Communist Party tries to reverse economic slump
Chinese leader Xi Jinping has called for patience in a speech released as the ruling Communist Party tries to reverse a deepening economic slump and said the West’s pursuit of material wealth led to “spiritual poverty.”
17.08 / 07:37
UPS
Citi
Enterprise
Forbes
country
China's government tries to defuse economic fears after real estate developer's debt struggle
China’s government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry’s shaky finances and their impact on the struggling Chinese economy
17.08 / 04:47
Reuters
Ripple
Enterprise
show
asset manager
Chinese asset manager Zhongzhi says it is in liquidity crisis -meeting video
SHANGHAI (Reuters) -Zhongzhi Enterprise Group on Thursday told investors it is facing a liquidity crisis and will conduct a debt restructuring, according to video footage of a meeting, as the Chinese asset manager grapples with a deepening property market downturn.
17.08 / 03:47
UPS
Provident
Fallout
Enterprise
country
cover
audit
KPMG tapped to audit $215b Chinese shadow banking giant
The Chinese shadow banking giant whose liquidity crisis has fanned fears about financial contagion is planning to restructure its debt and has hired KPMG to conduct an audit of its balance sheet, people familiar with the matter said.
17.08 / 01:25
retail
Canada watchdog probes Ralph Lauren over alleged forced Uyghur labour
Ottawa’s corporate-ethics watchdog has announced an investigation into fashion company Ralph Lauren over the alleged use of forced labour in its supply chains, while putting a Toronto-based mining firm on notice.
16.08 / 18:43
Data on the blink
China decided this week to suspend its publication of youth unemployment data. Its Beijing-controlled bureau of statistics sought to justify the move by saying it was done to improve this indicator. Earlier, China had quit publishing its consumer confidence index.
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