City Beijing Financial News

Earlier this month India — that already has punitive duty barriers of close to 50% for importing solar modules and cells from overseas — came up with its own set of non-tariff barriers to predominantly block Beijing. This coincided with US treasury secretary Janet Yellen’s heightened political pitch around overcapacity in Chinese steel, solar, EV, lithium-ion batteries and other clean tech products, as a precursor to a crackdown on imports. The updated docket or roster of vendors who can supply solar panels to our large scale power developers is an 82 page document, with 83 vendors and predictably has no Chinese candidates. As per this Approved List of Models and Manufacturers (ALMM) order for solar photovoltaic modules, domestic module manufacturers will also have to register their sub-contractors and vendors with the renewable energy ministry.

U.S. and Chinese military planners are gearing up for a new kind of warfare in which squadrons of air and sea drones equipped with artificial intelligence work together like a swarm of bees to overwhelm an enemy

A former chairman of the China Everbright Group and ex-central bank executive has been indicted on bribery charges, part of a wider wave of prosecutions of senior officials accused of financial crimes

AI) chips to China's military modernization efforts. This move comes as part of the US government's efforts to prevent sensitive American technology from being used for military purposes in China. The blacklisted companies, including Linkzol (Beijing) Technology Co, Xi'an Like Innovative Information Technology Co, Beijing Anwise Technology Co, and SITONHOLY (Tianjin) Co, were among 11 additions to the Commerce Department Entity List this week. Being placed on this list makes it significantly challenging for these companies to access American goods and technology.

Philippines, the United States and Japan will change the dynamic in the South China Sea and the region, Philippine President Ferdinand Marcos Jr. said on Friday, while seeking to assure China it was not a target. «I think the trilateral agreement is extremely important,» Marcos told a press conference in Washington a day after meeting President Joe Biden and Japanese Prime Minister Fumio Kishida in the nations' first trilateral summit. «It is going to change the dynamic, the dynamic that we see in the region, in ASEAN in Asia, around the South China Sea,» Marcos said, referring to the Association of Southeast Asian Nations.

China has surged sales to Russia of machine tools, microelectronics and other technology that Moscow in turn is using to produce missiles, tanks, aircraft and other weaponry for use in its war against Ukraine, according to a US assessment. Two senior Biden administration officials, who discussed the sensitive findings Friday on the condition of anonymity, said that in 2023 about 90 per cent of Russia's microelectronics came from China, which Russia has used to make missiles, tanks and aircraft. Nearly 70 per cent of Russia's approximately USD 900 million in machine tool imports in the last quarter of 2023 came from China.

Biden said Thursday that U.S. defense commitment to Pacific allies was «ironclad» as he gathered Philippine President Ferdinand Marcos Jr. and Japanese Prime Minister Fumio Kishida at the White House in the midst of growing concern about provocative Chinese military action in the Indo-Pacific. The U.S. and the Philippines have had a mutual treaty in place for more than 70 years. Biden's forceful reinforcement of the American commitment comes in the midst of persistent skirmishes between the Philippine and Chinese coast guards in the disputed South China Sea. «The United States defense commitments to Japan and to the Philippines are ironclad. They're ironclad,» Biden said as he began three-way talks at the White House with Kishida and Marcos. «As I said before, any attack on Philippine aircraft, vessels or armed forces in the South China Sea would invoke our mutual defense treaty.»

Reporters Without Borders says one of its representatives was denied entry into Hong Kong, calling it a “new decline” in the city’s press freedoms

Lifestyle and mobile accessories maker Damson Technologies plans to move half of its manufacturing operations from China to India, with an initial investment of Rs 150 crore in the current fiscal year, a top official of the company said. Electronics manufacturing service provider Damson Technologies, managing director, Ritesh Goenka told PTI that the company has been manufacturing devices in Beijing and now moving half of its production to India due to sanctions imposed by several countries on China coupled with benefits under government schemes in India. «At present, we generate revenue of over Rs 1,000 crore. We plan to bring around Rs 500 crore worth of business to India in the upcoming year. Our long-term vision is to gradually move entire factory operations to India. We need some time to build the entire infrastructure in India,» he said. Damson also makes and sells mobile accessories and lifestyle gadgets under its own brand name «Just Corseca».

Taiwan and China can peacefully resolve their differences, former Taiwan President Ma Ying-jeou said on Thursday after meeting Chinese President Xi Jinping, adding that people on both sides of the Taiwan Strait share the same culture and history. Ma, president from 2008 to 2016, last year became the first former or sitting Taiwanese leader to visit China.

China has accused the European Union of protectionism and “reckless distortion” of the definition of subsidies in response to a new EU investigation into Chinese wind turbine makers

BEIJING — China's commercial property sector is seeing pockets of demand amid an overall real estate slump.

India and the Maldives may be moving to stabilise their bilateral ties after tensions. Since President Mohamed Muizzu took office last year, the removal of Indian troops from the Maldives has complicated diplomatic relations. But bilateral ties may be settling down.

Global venture capital funding declined 30% in the first quarter, continuing its slump as investors remain cautious amid sputtering economies and a sluggish market for stock-market debuts.

China's Finance Ministry has denounced a report by Fitch Ratings that kept its sovereign debt rated at A+ but downgraded its outlook to negative

Treasury Secretary Janet Yellen and her team are returning to Washington after a visit to China where they tried to tackle the biggest economic issues between the countries

How a domestic rating agency wants to take on the big guns China's finance ministry called the Fitch rating "regrettable". "From the results, it can be seen that the indicator system of Fitch's sovereign credit rating methodology has failed to effectively and proactively reflect" Beijing's efforts to promote economic growth, it said.

China's insatiable territorial ambitions and blatant disregard for the sovereignty of other nations have become a grave threat to global peace and stability. The country's recent audacious move to assign Mandarin names to 30 locations in the Indian state of Arunachal Pradesh is a stark reminder of its brazen tactics to lay claim to territories beyond its borders. This cartographic aggression is part of Beijing's long-standing strategy to rewrite history and normalize its illegitimate territorial claims. It is the fourth such list of names released since 2017, following Indian Prime Minister Narendra Modi's visit to Arunachal Pradesh in March – a move that prompted China to lodge a baseless diplomatic protest, asserting that the state belongs to them. China's claims over Arunachal Pradesh stem from its belief that the state is part of «Zangnan» or «Southern Tibet,» a region it considers an integral part of its territory. However, this belief is rooted in a flawed understanding of history and a blatant disregard for India's sovereignty.

China, Deputy Secretary of State Kurt Campbell said on Tuesday, acknowledging concerns that the warnings may have curtailed exchanges between Americans and Chinese people. Communication channels between Washington and Beijing had largely normalized after months of heightened tensions, Campbell told an event hosted by the non-profit National Committee on US-China Relations.

BEIJING — China needs to convince people that home prices are on their way up in order for economic activity to pick up, Richard Koo, chief economist at Nomura Research Institute, told CNBC's Steve Sedgwick last week.

At this year’s China Development Forum (the highest-level annual meeting between senior Chinese policymakers and top CEOs, current and former policymakers, and academics like me), the discussion focused squarely on the risk of China falling into the dreaded ‘middle-income trap.’ After all, few emerging economies have successfully joined the ranks of high-income countries. Will China be an exception to this pattern? Following 30-plus years in which China achieved annual growth rates close to 10%, its economy has slowed sharply this decade. Even last year, with a strong rebound from the “zero-covid" era, officially measured growth was only 5.2%.