City Beijing Financial News
21.10 / 03:01
markets
Digital
Strategy
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Deloitte
reports
strain
Naomi Osaka season over because of injury
Tokyo: Naomi Osaka's season appears to be over after she said she will not play at next month's Billie Jean King Cup finals because of injury. The four-time Grand Slam singles champion said in Tokyo on Sunday that she had ruptured abdominal muscles. «I thought I strained my back, but I did an MRI in Beijing and they said that I bulged a disc in my back and I also ruptured abdominal muscles,» Japan's Kyodo News agency reported the 27-year-old as saying.
18.10 / 19:23
security
Enterprise
reports
Department
Investigations
Relationships
GOP lawmakers seek investigation of consulting firm over its work in China
A group of Republican lawmakers is demanding a federal investigation into the U.S. consulting firm McKinsey over its work with the Chinese government and state-owned enterprises
18.10 / 19:15
markets
Strategy
Sustainability
Trade
Experts
country
information
At WTO, India breathes fire over Dragon's trade policies
China at the World Trade Organisation (WTO), turning the heat on non-transparent subsidies that lead to an influx of low-priced, poor-quality goods into the country, harming its local industries. New Delhi flagged concerns over several trade issues during a review of Beijing's trade policies. It highlighted China's cross-border data regulations and laws, export control measures on critical raw materials, and non-tariff barriers that adversely impact pharma exports, besides export bans on critical minerals.
18.10 / 19:15
markets
Strategy
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Matthews
Experts
Department
US sanctions China-based firms over Russia drones
These mark the first US sanctions on Chinese entities «directly developing and producing complete weapons systems in partnership with Russian firms,» the US Treasury Department said. State Department spokesman Matthew Miller added: «this was the first time we actually saw a Chinese company manufacturing a weapon itself that then was used on the battlefield by Russia.»
18.10 / 13:23
markets
Digital
CAT
trends
PAM
country
social
Pets in this country are 'working' in cafes, earning snacks as salaries
One example is 27-year-old PhD student Jane Xue, who decided to send her two-year-old Samoyed, OK, to work at a dog cafe in Fuzhou. For Xue, it’s a win-win situation. “It’s just like sending a child to school,” she told CNN. «OK gets to play with other dogs and won’t feel lonely, and we save on the cost of running the air conditioning all day.» Xue and her partner, who are often out on weekends, found the cafe job a perfect way for OK to socialize.
18.10 / 10:01
18.10 / 03:59
18.10 / 03:51
markets
Citi
Provident
Strategy
economy
Sustainability
country
China posts slowest growth in over a year as property woes drag
Authorities have since last month unveiled a raft of measures to kickstart sluggish consumption and address a prolonged and debilitating debt crisis in the country's colossal property sector. After a blistering market rally fuelled by hopes for a long-awaited «bazooka stimulus», optimism has tapered as authorities refrained from providing a specific figure for the bailout or detailing any of the pledges.
17.10 / 07:17
markets
UPS
economy
SPY
show
country
China to boost financing for approved housing projects to $560 billion to counter property slump
China has announced it will expand the amount of financing available for housing projects on a “white list” to 4 trillion yuan ($562 billion), seeking to reverse a slump in the property industry
17.10 / 07:17
17.10 / 06:33
security
President
Celebrity
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peace
China employs hackers and celebrities to undermine Taiwan
Subscribe to enjoy similar stories. As Beijing dispatched its military Monday in a show of force that encircled Taiwan, China’s coast guard posted a map showing its ships ringing the island in a heart-shaped formation, describing it as “an act of love." To Taiwan, the social-media message was just one piece of China’s multifaceted campaign to intimidate, isolate and influence the people and leaders of the island democracy to give up their commitment to self-rule. Alongside its most high-profile tactic—sending a message of military dominance—China is employing what Taiwan says is an expanding army of hackers, diplomats, prosecutors and celebrities in its effort to persuade Taiwan to submit to Beijing.
17.10 / 02:03
16.10 / 16:51
markets
MET
Digital
Experts
voice
reports
Kamala Harris' ally sharing resources with China Communist Party? Here's what report reveals
Kamala Harris that the ally will share resources from black businesses with the Chinese Communist Party. This revelation has raised concern regarding the extent of foreign influence in American businesses and political circles, according to a report.
16.10 / 16:15
Cooper
security
Trade
country
International
Moscow and Beijing announce further cooperation during international group meeting in Pakistan
Leaders and top officials from an international group founded to counter Western alliances have met in Pakistan’s capital, with Moscow and Beijing announcing they will boost cooperation
16.10 / 13:17
markets
Citi
security
Trade
travelers
Destinations
Hong Kong cuts liquor tax in an effort to reignite its nightlife industry
Hong Kong’s leader has announced a cut in liquor taxes as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene
16.10 / 12:29
UPS
economy
Trade
War
show
Investigations
Luxury’s last growth engine has stalled
Subscribe to enjoy similar stories. Louis Vuitton’s owner seems surprised at how quickly Chinese consumers have closed their wallets and abandoned its brands. It has no obvious place to turn to next for growth.
16.10 / 11:05
markets
country
China stimulus fuels global investor rotation into emerging market stocks
According to the Bank of America's October Global Fund Manager survey, nearly half (47%) of investors had pointed to EM equities as the biggest winner from Beijing's stimulus announcement, followed by commodities (41%). Meanwhile, government bonds (41%) and Japanese equities (33%) are seen as the biggest losers on the back of the plans, according to the survey. Chinese equities surge on the back of biggest stimulus package in years The People's Bank of China unveiled a set of monetary stimulus measures in late September designed to inject confidence in the country's struggling eco...
16.10 / 10:15
UPS
Target
economy
President
show
audience
China’s fiscal plan seems to pale in front of its monetary boost
Subscribe to enjoy similar stories. The stimulus unleashed by the People’s Bank of China (PBoC) last month was a tough act to follow. When it was the turn of the finance ministry to describe its role in boosting China’s subpar expansion, investors fretted about the absence of fireworks and demanded something more.
16.10 / 07:35
markets
IPO
Provident
Progressive
Software
Trade
show
Alibaba, Baidu invest in Chinese smart-driving tech company's near $700 mn IPO
Subscribe to enjoy similar stories. Alibaba and search-engine giant Baidu are investing in a nearly $700 million equity offering by a Chinese smart-driving firm, indicating rising demand for assets in the rapidly growing market for autonomous driving. Horizon Robotics, which is planning to raise as much as 5.41 billion Hong Kong dollars through an initial public offering, equivalent to $696.6 million, will begin taking orders from institutional investors starting Wednesday, it said in a filing.
16.10 / 02:17
markets
Target
Google
Platform
country
Updates
International
Alibaba's international arm says its new AI translation tool beats Google and ChatGPT
BEIJING — Chinese e-commerce giant Alibaba's international arm on Wednesday launched an updated version of its artificial intelligence-powered translation tool that, it says, is better than products offered by Google, DeepL and ChatGPT.
15.10 / 04:17
markets
UPS
Manufacturing
Sustainability
Trade
President
China exports growth slows in blow to economy’s bright spot
China’s export growth unexpectedly slowed in September, curbing a trade rebound that has been a bright spot for a weakening economy that policymakers are relying on manufacturing to power. Exports climbed just 2.4% in dollar terms from a year earlier to almost $304 billion, the lowest level since May, the customs administration said Monday. Shipments to key markets including Japan, South Korea and Taiwan all fell, while exports to the European Union and the US marked their slowest rise in at least four months as politicians ramped up tariffs. Russian purchases of Chinese goods soared to a record $11 billion, as Beijing continues to shield Moscow from economic isolation after Western companies producing everything from cars to phones quit President Vladimir Putin’s nation due to sanctions to punish his military aggression.
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