City Beijing Financial News

BEIJING — No bodies or survivors have yet been found from the China Eastern Airlines crash as of Tuesday morning, Chinese state media said.

Baroness Helena Morrissey urged investors to stop buying stakes in Chinese companies, claiming they risk “being on the wrong side of history” if Beijing lends its support to Russia’s invasion of Ukraine.

China's leading social media platforms and internet giants have updated their policy to restrict or remove nonfungible token (NFT) platforms, citing a lack of regulatory clarity and fearing government crackdown.

Bitcoin (BTC) starts a new week on a tentatively stronger footing as macro cues curiously stabilize.

BEIJING — As some parts of China reopen, others are imposing new Covid-related restrictions, reflecting the challenge government officials face in controlling the worst outbreak since early 2020.

BlackRock has put its overweight outlook on Chinese assets “under review”, with soaring Covid cases and mounting concerns about Beijing’s ties to Russia prompting the world's biggest asset manager to reconsider its view on the world's second largest economy.

A senior Russian parliamentarian has claimed that the Central Bank is working with the People’s Bank of China on workarounds that may help the countries bypass the SWIFT banking network – including domestic alternatives, blockchain solutions, and digital fiats.

Bitcoin briefly spiked above $41,000 for the first time in a week, bringing the cryptocurrency out of its recent narrow trading range, as risk assets rebounded worldwide. The largest digital asset by market value jumped as much as 5.7% to $41,691 before paring its gains in early New York trading. It is down about 12% this year. Other tokens such as Ether and Solana also got a lift. Stocks rose, with Chinese equities rallying on a pledge by Beijing for policies to boost financial markets. “Whenever we see stock market relief, crypto tends to do well, especially lately,” said Marcus Sotiriou, an analyst at London-based digital asset broker GlobalBlock. “At the end of the day, the key driving force behind prices is macro, so I expect a struggle for a sustainable uptick.”

In this article

BlackRock has put its overweight outlook on Chinese assets “under review”, with soaring Covid cases and mounting concerns about Beijing’s ties to Russia prompting the world's biggest asset manager to reconsider its view on the world's second largest economy.

Bitcoin (BTC) returned above $41,000 prior to the Wall Street open on March 16 as good news from Asia and Russia buoyed stocks.

BEIJING — China signaled support for Chinese stocks on Wednesday, after days of worries about U.S. delisting risks sent the stocks plunging in New York and Hong Kong.

BEIJING — China's worst Covid-19 outbreak since the initial wave of the pandemic worsened Tuesday with a major factory city ordering production halts.

China’s Premier Li Keqiang on Friday called the situation in Ukraine “grave” and offered Beijing’s help in playing a “positive role” for peace while continuing to refuse to criticise Russia.

BEIJING — Since taking office last year, President Joe Biden has pursued a strategy of restoring relationships with allies to put pressure on Beijing.

The Guangdong province’s Development and Reform Commission has reportedly busted an illegal crypto mining farm secretly operating in an electric vehicle charging station.

BEIJING — American businesses in China no longer expect relations between the two countries to improve from the tensions of the Trump administration, according to a business association survey.

HONG KONG—By calling for growth of 5.5% this year, China’s leaders have set a relatively high bar for an economy facing a litany of challenges at home and abroad—and paved the way, economists say, for more aggressive stimulus measures in the coming months.

BEIJING — China's defense spending this year is set to grow at its fastest pace since 2019, according to the Ministry of Finance plan released Saturday.

BEIJING — China is slated on Saturday to release its gross domestic product growth target for 2022, as an annual parliamentary meeting gets underway.

People’s Bank of China, the central bank of the country, claimed in a recent note that China's share in the global Bitcoin (BTC) transactions has rapidly dropped from over 90% to 10%.