City Beijing Financial News

BEIJING — As China's economy moves into the second quarter of the year, a few indicators are pointing to sluggish growth ahead if things don't turn around, raising expectations for monetary policy easing.

Vladimir Vladimirovich Putin will pay a state visit to China from May 16 to 17," Shina Foreign Ministry Spokesperson Hua Chunying announced on Tuesday. According to reports, Russia also confirmed the trip and said Putin was going on Xi's invitation. The Kremlin was quoted by PTI as saying that this will be Putin's first foreign trip since he was sworn in as president and began his fifth term in office.

Top China, South Korea Diplomats Hold Rare Talks in Beijing On Tuesday, the White House announced a tariff hike on $18 billion worth of imports from China, targeting key sectors such as electric vehicles, batteries, steel, and vital minerals. This decision coincides with President Joe Biden's preparation for the upcoming November election, where he is expected to face Republican rival Donald Trump again. Administration officials criticized Trump's trade policies as they unveiled the tariff increase.

Chinese workers are showing a lack of enthusiasm towards the country’s central bank digital currency (CBDC). A report on May 13 revealed that some workers who received their salaries in digital yuan (e-CNY) converted the asset into fiat currency immediately after they were paid, indicating a clear preference for physical cash over the digital alternative.

International Monetary Fund warned the Maldives against looming «debt distress» Monday, as the small but strategically placed luxury tourist destination looks set to borrow more from main creditor China.

Asian share markets made a cautious start on Monday in a week where inflation figures could make or break hopes for earlier U.S. rate cuts, while Chinese activity data will test optimism about a sustained recovery in the world's No. 2 economy. Beijing has already reported a welcome pickup in inflation to an annual 0.3% in April, helping to soothe worries about a slide into prolonged deflation. Forecasts favour further gains in April retail sales and industrial output due on Friday.

BEIJING — A group of around 1,500 homebuyers in the Chinese city of Tianjin, near Beijing, have yet to see — let alone move into to — the apartments they said they paid for about eight years ago.

Chang'e-6 mission, has achieved a major milestone by sending back its first images of the sun and moon from lunar orbit. The images were unveiled during a ceremony at the China National Space Agency (CNSA) to celebrate the successful mission, as reported by The Times of India. CubeSat's Successful Mission

Chinese smartphone brands are seeing volumes go up once again after falling from a peak in 2020, despite continuing government scrutiny. But their cumulative revenue share is falling amid the strengthening premiumisation trend as iPhones and Samsung devices are favoured by customers at the top end. The cumulative market share of Chinese smartphone brands — Xiaomi, Vivo, Oppo, Realme, Transsion, Motorola — rose to 75% in the March quarter, after hitting a low of 61% in the July-September period, according to Counterpoint Research. This was achieved on the back of a shipment rebound by the top brands such as Xiaomi and Vivo after a few tepid quarters in 2023 due to low demand and inventory bottlenecks, the research firm said. It added that smaller brands such as Motorola and Transsion have also expanded their footprint in the market.

An annual survey of more than 500 European companies has found that slowing growth in China is weighing on company plans to expand their businesses in the world’s second largest economy

BEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China.

Reuters, adding one was injured too. Identifying the victims, the police said that the workers were from Sahiwal in Punjab. Police have taken the injured to the hospital for treatment and started an investigation to arrest the perpetrators.

This week European Union leaders, who are threatening tariffs on electric cars, were the latest to scold China about overcapacity. Before she met visiting President Xi Jinping, the bloc’s chief Ursula von der Leyen said she’s hoping for action in the “short term.”

An appeals court has granted the Hong Kong government’s request to ban a protest song, overturning an earlier ruling and deepening concerns over the erosion of freedoms in the city

Toyota, Hyundai, Mercedes-Benz and a host of other global automakers are increasingly turning to Chinese tech giants in a bid to claw back market share in one of the world’s largest—and fastest-changing—auto markets. In recent days, South Korea’s Hyundai Motor and Kia have unveiled plans to work with Chinese internet giant Baidu on mapping and artificial-intelligence technologies for auto-driving and vehicle software systems in China, while Nissan Motor said it would partner with Baidu on AI and Toyota has tapped gaming giant Tencent for help on AI models, cloud services and big data.

rubber-stamp parliament, is under way in Beijing. The top leaders and thousands of delegates will attend for a week. So far the signals are not reassuring.

global economic landscape, certain cities stand out as magnets for success, attracting wealthy investors seeking abundant opportunities. Henley and Partners, a leader in residence and citizenship planning, recently unveiled a list of the World's Wealthiest Top 10 cities and Rising Wealth Hubs, highlighting cities that attract high-net-worth individuals (HNWIs) with liquid investable wealth of USD 1 million or more. Mumbai and Delhi's Rise Mumbai and Delhi's inclusion in the top 50 wealthiest cities underscores India's economic progress and urban development. On the list they ranked above, Washington, DC the capital city of the World's richest country. These cities have become magnets for HNWIs, offering a blend of economic opportunities and cosmopolitan lifestyles.

TAIPEI: Taiwan's military is prepared for any moves China may make around the time President-elect Lai Ching-te takes office later this month, the island's deputy defence minister said on Wednesday. China, which views democratically governed Taiwan as its own territory, has a strong dislike of Lai, believing him to be a dangerous separatist, whose repeated offers of talks it has rejected, including one this month. Lai, like current President Tsai Ing-wen, rejects Beijing's sovereignty claims; both say only the island's people can decide their future. Lai, now vice president, will be inaugurated on May 20.

dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The offshore yuan further retreated from a more than three-month high hit last week, helped by hopes of further policy stimulus from Beijing to shore up its economy. It last stood at 7.2247 per dollar.

SINGAPORE–When Elon Musk made a surprise visit last month to Beijing, the Tesla chief executive brought along a trusted lieutenant: Tom Zhu, the company’s former China head who had skyrocketed through the ranks as a turnaround guru. Now, Zhu—one of just three senior executives including Musk currently named on Tesla’s website—is getting deployed from Tesla’s Texas headquarters back to China at a vulnerable time for the world’s most valuable automaker, according to a person familiar with the matter. Zhu, who was born in China and educated in the U.S.

Chinese leader Xi Jinping will spend most of his five-day tour in Europe this week in two small countries at the continent’s eastern half