City Beijing Financial News

India a window of between three and five years to cash in on the opportunity will be well received in policy circles. India has been preparing for this eventuality for a while now. It has, over the past decade, cleaned up bad debts in the banking system, lowered corporate tax rates to internationally acceptable levels, diverted increasing chunks of the government budgets at building physical and digital infrastructure, and has rolled out incentives for local manufacturing and exports in select industries.

Explore the precarious financial situation in Chin... moreExplore the precarious financial situation in China as we delve into the country's extensive debt crisis, focusing on the growing concern surrounding local government financing vehicles (LGFVs).

As the pilot program for China’s central bank digital currency (CBDC) — the digital yuan — takes off, Chinese business travelers will reportedly be able to pay for flight tickets using the CBDC. 

BEIJING (Reuters) -Chinese authorities announced measures on Friday intended to help boost sales of automobiles and electronics with the goal of shoring up a sluggish economy, but the steps failed to impress investors who have been clamouring for stronger stimulus.

Beijing and other cities braced for severe flooding on Friday as summer storms rolled across many parts of China, while inland regions baked in intense heat, threatening to shrink the country's biggest freshwater lake. Wild weather swings have gripped China since April, causing deaths, damaging infrastructure and wilting crops as well as raising fears of its ability to cope with climate change. Historically, China enters its peak rainy season in late July, but extreme weather has made storms more intense and unpredictable, exposing heavily built-up megacities with poor or insufficient drainage to potentially deadly floods. In Beijing, authorities have deployed this week over 2,600 people to drain dozens of pumping stations in advance and clear thousands of water drainage outlets along roads. Several bus routes plying the suburbs and mountainous areas were halted. Authorities in the neighbouring city of Tianjin also ramped up flood control efforts in the Hai basin, a major northern drainage system. By contrast, scant rainfall in Jiangxi province has resulted in Poyang Lake, the country's largest body of fresh water, ebbing to its lowest level for this time of the year since records began in 1951.

BEIJING (Reuters) — China's foreign exchange regulator said on Friday it will comprehensively use policy measures to stabilise market expectations, at a time when the yuan currency faces renewed downside pressure.

Investing.com-- Oil prices rose on Friday after wild swings through the week as markets weighed tightening supplies and uncertainty over demand, with focus now shifting squarely towards a Federal Reserve meeting next week. 

China's ambassador to the United States says it does not want a trade war but will retaliate against any further U.S. restrictions on technology and trade

U.S. Treasury Secretary Janet Yellen has told top Vietnamese officials that Washington considers building strong economic and security ties with Vietnam a priority

Over 200 Hong Kong stores now accept digital yuan payments, banks have claimed, as China looks to take its CBDC into the cross-border space.

Xi Jinping met with veteran U.S. diplomat Henry Kissinger in Beijing, state media reported on Thursday.

Chinese business travelers will be able to buy air tickets using the digital yuan, as the nation’s central bank digital currency (CBDC) pilot takes flight.

A few years ago, this small town on the border with China was a few dusty lanes surrounded by tropical forests. Now, a nearly $6 billion Chinese-built railroad cuts through it—and a city is rising. Dozens of half-constructed office towers and warehouses rise into the skyline.

By Valerie Volcovici and David Stanway

BEIJING — China's Commerce Ministry on Wednesday said non-economic factors were growing and interfering with the country's foreign trade which was facing an «extremely severe» situation in the second half of this year.

Russian experts think the Central Bank will roll out its digital ruble by 2025, with the nation’s biggest banks expressing their eagerness to work with the central bank digital currency (CBDC).

Investing.com-- Most Asian currencies fell on Wednesday as the dollar rebounded from 15-month lows, with recent U.S. data spurring more bets that the Federal Reserve was close to pausing its rate hike cycle.

China used for years as it turned into the biggest EV market on Earth. Beijing’s success is breathtaking. EVs accounted for a quarter of all passenger cars sold in China last year, far ahead of the roughly one in seven in the US and one in eight in Europe.

China Evergrande, the property developer whose woes helped bring about a slump in the country’s vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year

A veteran economist and banker had been getting ready to retire in the weeks before Chinese leader Xi Jinping picked him to lead China’s central bank, according to officials familiar with the matter. Now, Pan Gongsheng is set to take the reins at the People’s Bank of China as it confronts an urgent challenge: whether and how to defend the Chinese yuan. The Chinese currency’s value has been sliding this year, as the world’s second-largest economy stagnates.

Investing.com — Crude oil prices edged higher Tuesday, rebounding after the previous session’s weakness ahead of the latest readings on U.S. crude supplies.