City Beijing Financial News

Squeezed by an economic downturn and a rapidly aging population, China took a step toward raising its unusually low benchmarks for when people should retire. China has one of the lowest retirement ages among major economies, letting women retire as early as 50 and men at 60—policies unchanged since the 1950s. Beijing has long said it wants citizens to work longer, but has repeatedly put off any policy changes for fear of social pushback.

China deepened its push to further open up the economy, eliminating restrictions on the manufacturing sector and expanding opportunities for foreign investment in the health sector in an effort to revive growth. The Chinese government will reduce its list of industries off-limits to foreign investors to 29 from 31 and fulfill its pledge of zero restrictions on the manufacturing sector, the National Development and Reform Commission and the Commerce Ministry said in a joint statement on Sunday. The new list, set to take effect Nov.

BEIJING — China on Monday reported its consumer price index rose by 0.6% year on year in August, missing expectations as transportation and home goods prices, as well as rents declined.

Dutch government on Friday said it would expand export licensing requirements for some ASML chipmaking equipment, effectively retaking oversight over it from the United States and aligning the two countries' policy. The United States had previously unilaterally regulated those tools, as part of its campaign to restrict access to advanced technology by Chinese chipmakers who could contribute to Beijing's technological and military advances. ASML said in a statement that it did not expect the change in oversight to impact earnings this year or in the future.

infrastructure projects in Africa may be over, analysts say, with Beijing seeking to shield itself from risky, indebted partners on the continent as it grapples with a slowing economy at home. Beijing for years dished out billions in loans for trains, roads and bridges in Africa that saddled participating governments with debts they often struggled to pay back. But experts say it is now opting for smaller loans to fund more modest development projects.

BEIJING — China's wealthy are increasingly looking for ways to move capital outside the mainland to pursue business opportunities, rather than just chasing investment returns, according to asset managers and consultants.

Dozens of African leaders have descended on Beijing for a summit that signals China’s influence in a continent that it hopes will be a key ally in pushing back against a U.S.-led global order

Chinese families are increasingly flocking to Thailand for the country's quality international schools and relaxed lifestyle

New York secretly assisted the Chinese government in gaining access to an official call regarding COVID-19 while living a lavish lifestyle as an undercover agent for Beijing. Linda Sun worked her way up to become the governor's deputy chief of staff over a roughly 14-year tenure. Federal prosecutors, however, claim that the 41-year-old secretly shared internal documents with Beijing and prevented Taiwanese diplomats from contacting the state government to help Chinese officials. China is said to have lavished Ms. Sun and her husband, Christopher Hu, with millions of dollars in kickbacks in exchange, enabling them to purchase a $4.1 million (£3.1 million) New York home and other benefits like personalized home delivery of salted duck. Also Read: Nightbitch: Check out new trailer, release date, plot and production team

BEIJING — China's property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing's tech push, Milken Institute's best performing cities China index showed Tuesday.

Canadian Prime Minister Justin Trudeau last month announced tariffs of 100 percent on Chinese EVs, accusing Beijing of «not playing by the same rules as other countries» in areas like environmental and labour standards. The United States and the European Union have also respectively slapped tariffs of 100 percent and 36 percent on Chinese EVs, arguing that Beijing unfairly subsidises domestic producers whose products then flood foreign markets and undercut local competitors.

BEIJING – China's first attempt at a top-tier video game has smashed world records, bolstering the industry's global ambitions just a few years after Beijing's gaming crackdown.

Dr S Jaishankar said at the ET World Leaders Forum referring to the challenges that the world faces in today's time. Jaishankar explained that there are different forms of risks that pose a threat to the globe, including pandemics and climate change. In a conversation with ET's Pranab Dhal Samanta, Jaishankar said that risks are coming out of changes happening in the world. With respect to the emerging risks, the EAM said that every government today is constantly and cautiously assessing risks. These risks also expand to the global supply chain, he added.

Japan’s Defense Ministry has sought a record 8.5 trillion yen or $59 billion budget for the next year to fortify its deterrence on southwestern islands against China’s increasing threat

Japan's Defense Ministry Friday sought a record 8.5 trillion yen ($59 billion) budget for the next year to fortify its deterrence on southwestern islands against China's increasing threat, while focusing on unmanned weapons and AI to make up for the declining number of servicemembers as a result of the country's shrinking population. The ministry's request for 2025 marks the third year of Japan's rapid five-year military buildup plan under the government's ongoing security strategy. Japan aims to spend 43 trillion yen ($297 billion) through 2027 to double its annual military spending to around 10 trillion yen, making it the world's third-largest military spender after the United States and China. The budget request was approved at the Defense Ministry meeting Friday ahead of a submission to the Finance Ministry for negotiations through December.

The convictions of two Hong Kong journalists who led a now-shuttered online news outlet have deepened concerns of media groups and foreign governments over the city’s press freedom

(Bloomberg) — Chinese Foreign Minister Wang Yi and US National Security Advisor Jake Sullivan discussed setting up new talks between their presidents in meetings aimed at managing the two nations’ difficult relationship.

Beijing, on a visit with the stated aim of keeping communications open between the two powers, as the relationship between China and the United States has become increasingly tense in recent years. Sullivan, on his first trip to China in his capacity as the main adviser to President Joe Biden on U.S. national security issues, has met with senior Chinese officials including Foreign Minister Wang Yi and a senior general of the Central Military Commission. China and the U.S. have become increasingly at odds over various issues, starting with a trade war dating back to 2018, and which now encompasses global security matters, such as China's claims over the South China Sea, and industrial policy on things like automobile and solar panel manufacturing. Sullivan's trip this week is meant to keep the tensions from growing further.

United States is pushing China to break a longstanding resistance to nuclear arms talks, seeing a «limited opportunity» for early two-way conversations on the superpowers' approach to the issue, a senior Biden administration official said. The renewed U.S. push for nuclear talks comes as U.S. National Security Adviser Jake Sullivan met top Chinese officials in Beijing to try and resolve gaping differences on a broad range of issues. «We saw some limited opportunity to open, at least the beginnings of conversation on the subject in the last months, but it's been fits and starts, and I think it will continue to be fits and starts,» said the official, who sought anonymity because the matter is a sensitive one.

BEIJING — Chinese President Xi Jinping told U.S. national security advisor Jake Sullivan during a meeting Thursday that Beijing hopes Washington will find «a right way» to get along.

Asian shares are mostly lower as market attention turns to upcoming data on the U.S. economy after Nvidia reported its financial results