City Beijing Financial News

28.07 / 16:33

Citi Target Remark China signals no big stimulus is coming, while Covid controls remain

BEIJING — China's top leaders signaled Thursday that no big stimulus for economic growth was on the way, and downplayed the necessity of achieving the «around 5.5%» GDP target.

28.07 / 07:03

Manufacturing Tesla Highways Walmart Self-driving start-up Pony.ai plans to mass produce robotrucks in China

BEIJING — Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks in China with equipment manufacturing giant Sany Heavy Industry.

27.07 / 10:53

UPS China's property sales are set to plunge 30% — worse than in 2008, S&P says

BEIJING — China's property sales are set to plunge this year by more than they did during the 2008 financial crisis, according to new estimates from S&P Global Ratings.

26.07 / 17:18

Blockchain regulation Cybersecurity security TikTok data policy debacle: Is user’s crypto at risk?

TikTok continues to gather a head of steam, with the popular social media application surpassing one billion users in 2022. While daily users blissfully swipe through the latest videos from their favorite content creators, data security concerns continue to ask questions of the Chinese social media behemoth.

25.07 / 10:19

Citi Target FIVE MSCI Goldman Sachs cuts earnings outlook for MSCI China to zero growth

BEIJING — Goldman Sachs has cut its forecast for the MSCI China index due to a worsening slump in China's property market.

25.07 / 06:19

cryptocurrency CryptoExplainer cryptocurrency news information China Vows Privacy, Information Protection In Using Digital yuan

China vows privacy, information protection in using digital yuan

22.07 / 12:01

recovery China's Xi wishes Biden a 'speedy recovery' from Covid

BEIJING — Chinese President Xi Jinping contacted U.S. President Joe Biden on Friday to wish the American leader a «speedy recovery» from Covid, according to state media.

21.07 / 13:23

Tencent Asia TRON Tron’s Justin Sun Eyes ‘Acquisition’ Move for Tencent’s NFT Division

The Tron (TRX) founder Justin Sun says that TronDAO, a decentralized autonomous organization (DAO) that governs the Tron network’s development, wants to “acquire” a non-fungible token (NFT) arm of the Chinese tech powerhouse Tencent.

21.07 / 09:57

UPS HSBC HSBC sets up Communist Party group in Chinese investment bank unit

HSBC has set up a Chinese Communist Party committee within its investment banking unit.

21.07 / 07:17

COST Citi Baidu Baidu's new robotaxi can drive without a steering wheel and is 50% cheaper

BEIJING — Chinese tech giant Baidu announced Thursday it has cut the price of its robotaxi vehicles by nearly half, lowering costs for a nascent business.

21.07 / 05:49

Biden says he expects to speak with China's Xi in 10 days

BEIJING — U.S. President Joe Biden said he expects to speak with Chinese President Xi Jinping by the end of the month.

14.07 / 17:31

COST China Set to Post the Slowest Growth in Two Years on Zero-Covid Policy

SINGAPORE—China is expected to record its weakest growth rate in more than two years, a measure of the costs imposed on the world’s second-largest economy by Beijing’s zero-tolerance approach to Covid.

14.07 / 13:53

regulation Tencent Beijing Tencent shuts down NFT platform as gov policy makes it impossible to thrive

China’s internet giant Tencent has reportedly shut down one of the two nonfungible token (NFT) platforms owing to declining sales aided by the regressive monetary policies of the Chinese government.

13.07 / 05:09

UPS Citi CEO Chinese companies are going global as growth slows at home

BEIJING — Some Chinese consumer brands are looking for growth overseas, in markets like the U.S. and Southeast Asia.

12.07 / 13:33

regulation Terra Law Decoded, July 4–11: Access denied for crypto-owning policymakers

It’s been a century or so since the property qualification came out of vogue, but it doesn’t seem a problem if you want to apply it to crypto and policymaking. An advisory notice released by the United States Office of Government Ethics last week states that the de minimis exemption — which allows for the owners of securities who hold an amount below a certain threshold to work on policy related to that security — is universally inapplicable when it comes to cryptocurrencies and stablecoins.

08.07 / 17:23

Target China’s Slowdown Could Tamp Down Global Inflation

China’s slowdown may have a silver lining for the rest of the world: weaker inflation.

08.07 / 04:57

FIVE ETF Tencent BlackRock ETFs come to China with a vengeance

BEIJING — China has joined the global craze over exchange-traded funds, the investment product that lets traders buy and sell a basket of stocks.

07.07 / 05:19

Stablecoin Tether USDT Legal Beijing Court Rules in Case Involving a Man Who Refused to Be Paid in USDT Instead of Fiat

A Chinese tech worker who refused to be paid in tether (USDT) and insisted on receiving fiat yuan has won his case against his former employers.

06.07 / 16:11

Stablecoin Tether Court Salary payments in USDT stablecoin ruled as illegal in the Chinese court

Despite the Chinese government banning all kinds of cryptocurrency transactions last year, some firms apparently still use stablecoins like Tether (USDT) to pay their employees.

05.07 / 14:13

business Blockchain Bitcoin Crypto investor Sequoia Capital China reportedly raises $9 billion

Sequoia Capital China, the Chinese affiliate of cryptocurrency-friendly venture capital firm Sequoia Capital, is about to raise $9 billion for its four new funds focused on Chinese startups.

05.07 / 07:13

China's Liu He and U.S. Treasury Secretary Janet Yellen hold virtual talks

BEIJING — China's Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen held a virtual call Tuesday about macroeconomic issues, according to official statements from both sides.

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