City Beijing Financial News

10.05 / 08:39

UPS Citi FIVE More U.S. companies in China cut forecasts, scale back investments as Covid persists

BEIJING — More U.S. businesses in China are cutting revenue expectations and plans for future investment as Covid controls drag on, a new survey found.

08.05 / 17:07

Election of new Hong Kong leader "violates democratic principles"

Hong Kong has a new leader to replace outgoing Chief Executive, Carrie Lam.

06.05 / 15:01

Manufacturing Continental German Production Flags, Hit by Ukraine War and China Lockdowns

FRANKFURT—Output in Germany’s large manufacturing sector slumped in March, underscoring how the war in Ukraine and lockdowns in China are smothering Europe’s postpandemic recovery.

06.05 / 12:45

Citi Fighting Strategy China's Xi urges officials to 'resolutely fight' those who question zero-Covid policy

BEIJING — Chinese President Xi Jinping headed a meeting of top leaders on Thursday that emphasized the country should stick to its «dynamic zero-Covid» policy, and warned that economic consequences would follow if it doesn't, according to state media.

05.05 / 05:17

CEO Apple Starbucks restrictions COVID restrictions From Estee Lauder to Apple, big companies say China's Covid restrictions are hitting business

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30.04 / 05:31

Citi Manufacturing China’s Manufacturing Activity Contracted Further in April

BEIJING—A contraction in China’s factory and service-sector activity worsened for a second straight month in April, falling to their lowest levels since the depths of the initial pandemic outbreak, as lockdowns in dozens of cities across the country shut down production and pummeled consumer spending.

28.04 / 11:09

Manufacturing Apple Huawei Huawei's first quarter revenue tumbles by nearly 14% as smartphone sales plunge

BEIJING — Chinese telecommunications giant Huawei announced Thursday that first quarter revenue fell by nearly 14% from a year ago, while its profit margin more than halved.

27.04 / 18:33

U.S. Accuses China of Lax Intellectual Property Protection

WASHINGTON—The Biden administration criticized China’s protection of U.S. intellectual property, saying that Beijing still must make a “full range of fundamental changes” to improve protection of U.S. patents, copyrights and trade secrets.

27.04 / 09:55

Citi Lowe's CNY China's central bank steps in to slow its rapidly weakening currency, as yuan hits one-year lows

BEIJING — The Chinese yuan strengthened slightly against the U.S. dollar on Wednesday, reversing a sharp weakening trend after the People's Bank of China signaled support for its currency.

23.04 / 15:05

Blockchain cryptocurrency Platform CryptoExplainer Bitcoin Report Claims Crypto Investors Made Total Gains Of $160 Billion In 2021

A report claims crypto investors made total gains of $160 billion last year

22.04 / 03:55

Citi Manufacturing Huawei Many factory workers in Shanghai can't get back to work, even after Covid controls ease

BEIJING — Foreign businesses are struggling to bring workers back to factories after weeks of lockdowns in Shanghai, as the country battles its worst Covid outbreak since the pandemic began.

21.04 / 09:39

cryptocurrency Target cryptocurrency news Bitcoin US Imposes Sanctions On Crypto Mining Firm Over Russian Operations

US has imposed sanctions on a crypto mining firm BitRiver over its Russian operations

21.04 / 07:37

Amazon Gap Strategy As the U.S. 10-year Treasury yield keeps climbing, here's what it means for China

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19.04 / 18:09

Target IMF Cuts China Growth Forecast to 4.4%

The International Monetary Fund further slashed its growth forecast for China this year to 4.4%, well below what Beijing aims to achieve, as widespread Covid-19 lockdowns and Russia’s invasion of Ukraine exacerbate pressure on the world’s second-largest economy.

19.04 / 13:03

Provident Digital Platform Discover Tsinghua University Opens First Metaverse Lab in China

Tsinghua University has launched China's first metaverse laboratory, dedicated to studying the growth and expansion of the new digital industry in the country, according to a report by The Crypto Times.

19.04 / 06:29

Progressive Strategy Invesco UBS Investors turn cautious on Chinese stocks amid growth concerns

BEIJING — Investors turned increasingly cautious on Chinese stocks, especially those listed overseas, in the first quarter of the year that was rocked by geopolitical tensions and worries about growth.

18.04 / 12:07

Citi Waves Southern Deaths reports Shanghai reports first Covid deaths since the start of its latest lockdowns

BEIJING — Shanghai city reported Monday its first Covid-related deaths since the latest wave of lockdowns began in earnest in late March.

18.04 / 05:17

Target China’s Economy Expanded 4.8% in First Quarter, Beating Expectations

BEIJING—China’s economy expanded 4.8% from a year earlier in the first three months of the year, beating market expectations as the largest domestic Covid-19 outbreaks in two years disrupted business operations and dampened consumer spending.

18.04 / 05:13

UPS Reuters Aware China's first quarter GDP beats expectations to grow 4.8% year-on-year

BEIJING — China's first quarter GDP grew faster than expected despite the impact of Covid lockdowns in parts of the country in March, according to data released by the National Bureau of Statistics Monday.

16.04 / 03:11

Adoption Tencent WeChat New Tencent Digital Yuan Wallet Preparing to Launch

First images have emerged of specialized digital yuan wallets provided by the Tencent-run e-pay platform WeChat Pay.

14.04 / 19:07

Provident Target Fighting Align White House will crack down on Russian attempts to evade sanctions, Biden security advisor says

WASHINGTON — National security adviser Jake Sullivan said Thursday that the Biden administration is focused on ensuring Russia isn't able to evade punishing global sanctions for its war in Ukraine.

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