City Beijing Financial News

Asian shares began the week trading mixed as China reported that its economy expanded at a 4.7% annual pace in the last quarter

BEIJING — China's National Bureau of Statistics on Monday said the country's second-quarter GDP rose by 4.7% year on year, missing expectations of a 5.1% growth, according to a Reuters poll.

China and Russia's naval forces on Sunday kicked off a joint exercise at a military port in southern China on Sunday, official news agency Xinhua reported, days after NATO allies called Beijing a «decisive enabler» of the war in Ukraine. The Chinese defense ministry said in a brief statement forces from both sides recently patrolled the western and northern Pacific Ocean and that the operation had nothing to do with international and regional situations and didn't target any third party. The exercise, which began in Guangdong province on Sunday and is expected to last until mid-July, aimed to demonstrate the capabilities of the navies in addressing security threats and preserving peace and stability globally and regionally, state broadcaster CCTV reported Saturday, adding it would include anti-missile exercises, sea strikes and air defense.

China’s ruling Communist Party is starting a four-day meeting that is expected to lay out a strategy for self-sufficient economic growth in an era of heightened national security concerns and restrictions on access to American technology

Buddhist monk entrusted with protecting the Dalai Lama and foretelling his people's future is concerned. The Dalai Lama turns 89 on Saturday and China insists it will choose his successor as Tibet's chief spiritual leader. That has the Medium of Tibet's Chief State Oracle contemplating what might come next. «His Holiness is the fourteenth Dalai Lama, then there will be a fifteenth, sixteenth, seventeenth,» the medium, known as the Nechung, said. «In countries, leaders change, and then that story is over. But in Tibet it works differently.»

The United States, Canada and Finland will work together to build up their icebreaker fleets as they look to bolster their defenses in the Arctic, where Russia is increasingly active

BEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten.

China has added Shanghai to a list of top-tier cities allowing the use of driverless robotaxis in which no safety supervisors are present, part of the country’s efforts to take the global lead in autonomous driving and commercialize the technology. Shanghai officials said over the weekend that in parts of the city, residents can now book free rides in robotaxis of four companies—internet search giant Baidu, SAIC Motor-owned Saike Technology and self-driving startups Pony.ai and Auto X. The taxis are driverless and don’t have supervisors physically present in the car, with the companies approved to offer services through Jan.

Sanlu milk scandal? China was rocked by this scandal when about more than 300,000 children fell sick and at least six of them died after drinking powdered milk contaminated with high levels of the industrial chemical melamine. A similar incident has been reported in this country once again. State-run 'Beijing News' has reported that tankers used for carrying fuel allegedly carried food products, like cooking oil and syrup. Besides, these were not decontaminated before using his way. The Chinese government has launched a probe into the allegations.

BEIJING — China's yearslong effort to develop robotaxis is starting to gain traction with consumers — but it's also rattling taxi drivers worried about losing their jobs as a result of increasing competition.

The European Union is moving to sharply increase customs duties on electric vehicles made in China

China and Bangladesh are reaffirming their ties during a visit by Bangladesh Prime Minister Sheikh Hasina to Beijing as tensions rise in the region over territorial disputes and resources

Taiwan's defence ministry said on Saturday it was monitoring «waves» of missile tests taking place in China's far northern region of Inner Mongolia and that its air defence forces were on alert. Democratically governed Taiwan, which China views as its own territory, keeps a close watch on all Chinese military activities given Beijing's regular activities around the island, but only rarely releases details of what it sees taking place inside China. The ministry said that from 4 a.m. (2000 GMT on Friday) it had detected «multiple waves of test launches» by China's Rocket Force in an area of Inner Mongolia 2,000 km (1,200 miles) from Taiwan.

China’s Commerce Ministry has announced it will launch an investigation into whether unfair trade practices were adopted by the European Union in its probe of Chinese companies

Taiwan's defence ministry said Thursday it had detected 66 Chinese military aircraft around the island in a 24-hour window, a record-high this year, a day after it said Beijing was conducting exercises in nearby waters. China claims self-ruled democratic Taiwan as part of its territory and has said it will never renounce the use of force to bring it under its control. Thursday's record follows Taipei a day earlier spotting Chinese aircraft around the island that it said were headed to the western Pacific for exercises with the PLA aircraft carrier Shandong.

TikTok and its bite-sized videos arrived in the United States as a global version of the Chinese app Douyin

The issue of Tibet is back onto the international centre-stage with the visit of a seven-member US Congressional delegation to Dharamshala, Himachal Pradesh, this month to meet the Dalai Lama and members of the Tibetan government-in-exile. During the visit, former US House Speaker Nancy Pelosi lashed out at Chinese President Xi Jinping saying that the Dalai Lama’s contribution will live on in perpetuity while Xi Jinping will fade into obscurity.

BEIJING — China's imports fell in June, missing expectations for slight growth, while exports grew more than expected, customs data released Friday showed.

Chinese banks say they will fight back against digital yuan-themed money laundering and identity theft schemes by rolling out new security protocols.

A driverless ride-hailing car in China hit a pedestrian, and people on social media are taking the carmaker’s side, because the person was reportedly crossing against the light

BEIJING — China hopes to reach an agreement with the European Union soon on the bloc's planned tariffs for imported Chinese electric cars, the Ministry of Commerce said Thursday.