City Beijing Financial News
05.04 / 11:51
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India allows exports of essential goods to Maldives despite strained ties
Maldives, the government said on Friday, even as ties between Male and New Delhi remained tense amid rising Chinese influence. India, a leading exporter of rice, sugar and onions, has imposed various curbs on exports of these food commodities to keep a lid on local prices ahead of general election. Shipments of these commodities in the 2024/25 finiancial year which started on April 1 to Maldives «will be exempted from any existing or future restriction/prohibition on export,» the government said in a notification.
05.04 / 06:15
COST
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Interviews
China's Nio to expand battery swap services to gain an edge on EV infrastructure
BEIJING — Chinese electric car company Nio has been expanding its battery swap partnerships in a bid to gain an edge on the infrastructure side of the EV ecosystem.
04.04 / 20:30
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economy
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US treasury secretary is in China to talk trade, anti-money laundering and Chinese 'overproduction'
Treasury Secretary Janet Yellen has arrived in a China for five days of meetings in a country that's determined to avoid open conflict with the United States
04.04 / 13:41
Citi
Waters
security
Fishing
Inside
electronic
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To contain China, the US bets on a 40-year-old ship
CAIRNS, Australia—Standing on the bridge of a 270-foot U.S. Coast Guard cutter, Lt. Channing Meyer listed the recent upgrades to the 40-year-old ship.
04.04 / 00:25
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KKR says China's real estate correction may only be halfway done
BEIJING — China's real estate troubles are likely far from over and industry problems need to be addressed quickly if overall GDP growth is to pick up significantly, according to a report released Thursday by global investment firm KKR.
03.04 / 19:07
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Maldives President Mohamed Muizzu says second batch of Indian troops to be withdrawn 'within current month'
Muizzu highlighted the presence of Indian troops on three platforms in Maldives. ALSO READ: How did China strengthen its bond with Maldives amid India exit? 10 key collaborations between Male, Beijing He said the troops on the third aviation platform will be withdrawn by May 10. He was quoted as saying that the withdrawal of foreign troops from Maldives is being "pursued in accordance with diplomatic norms and principles".
03.04 / 18:01
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peace
NOT
China not to 'sit on its hands' if Taiwan independence forces step up their separatist activities: Xi tells Biden
Xi Jinping has told his US counterpart Joe Biden that the Taiwan question is the «first red line» that must not be crossed by Washington, and warned that Beijing will not «sit on its hands» if "Taiwan independence" forces step up their "separatist activities" with the help of external elements. Biden spoke on the phone with Xi on Tuesday, marking the first conversation between the two leaders since their historic in-person summit last November in San Francisco and the latest in ongoing efforts by US and Chinese officials to defuse tensions between the two countries. The White House described the one-hour-45-minute conversation as «candid and constructive» on a range of issues on which the leaders agreed and disagreed. Biden stressed the need to maintain «peace and stability» across the Taiwan Strait and he also raised his concerns over China's support for Russia's defence industry, the White House said.
03.04 / 12:25
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mountaineering
Chinese dam project reopens after deadly Pakistan attack: officials
construction on a major dam site in northwestern Pakistan after being provided with extra security, officials said Wednesday, following a deadly attack on Chinese engineers. Power China and the China Gezhouba Group Company had halted work on a pair of dam projects last month in Khyber Pakhtunkhwa province after a suicide bomber killed five Chinese nationals and a Pakistani driver, causing their van to plunge into a deep ravine.
03.04 / 03:35
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Features
China's Xiaomi receives over 100,000 orders, begins deliveries of its first EV
Xiaomi on Thursday said it has received more than 100,000 orders for its first electric vehicle, the SU7, as it began deliveries. The first deliveries come from the first batch of 5,000 cars that the company has already produced. Xiaomi's SU7 — short for Speed Ultra 7 — enters a crowded China EV market with an attention-grabbing price tag — under $30,000 for the base model, cheaper than Tesla's Model 3 in China.
02.04 / 09:39
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France presses China on trade and Ukraine ahead of upcoming Xi Jinping visit
The French foreign minister has pressed China on trade issues and the war in Ukraine ahead of a planned visit to France by Chinese leader Xi Jinping later this spring
02.04 / 09:39
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Manufacturing
economy
China's manufacturing activity expands in March after a 5-month lull
Manufacturing in China expanded in March after contracting for five consecutive months
02.04 / 05:25
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"We firmly reject such attempts": India clarifies stance on renaming of places in Arunachal Pradesh by China
MEA) official spokesperson, Randhir Jaiswal, on Tuesday clarified India's stance on renaming of places in Arunachal Pradesh by China. Jaiswal called the move a senseless attempt and said that India rejects such claims. He said, «China has persisted with its senseless attempts to rename places in the Indian state of Arunachal Pradesh. We firmly reject such attempts. Assigning invented names will not alter the reality that Arunachal Pradesh is, has been, and will always be an integral and inalienable part of India.” China had released a fourth list of 30 new names of various places in Arunachal Pradesh amid Beijing's stepped-up assertions in recent weeks to re-emphasise its claim over the Indian state. India has been rejecting China renaming places in Arunachal Pradesh, asserting that the state is an integral part of the country and assigning „invented“ names does not alter this reality.
02.04 / 02:57
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Xiaomi shares pop 15% after the Chinese smartphone maker launches its first EV
BEIJING — Shares of Chinese smartphone maker Xiaomi surged 15% when the Hong Kong market opened Tuesday, the first trading day since the company launched its SU7 electric car ahead of the Easter holiday.
01.04 / 10:45
CBDC
China Expands Digital Yuan Accessibility Through Hardware Wallet Integration
The Qingdao branch of the Bank of China (BOC) has rolled out a new payment option for Qingdao’s metro transit system through digital yuan hardware wallets.
01.04 / 02:35
FIVE
country
reports
Department
mountaineering
China renames 30 locations in latest move to assert claim over Arunachal Pradesh: Report
South China Morning Post has reported. On Saturday, the Ministry published the country’s latest set of “standardised" names which included 11 residential areas, 12 mountains, four rivers, one lake, one mountain pass and a piece of land.
31.03 / 04:57
security
Trade
country
Department
Relationships
International
UK likely to appoint first female high commissioner to India
NEW DELHI : Former chief of the UK’s National Cyber Security Centre, Lindy Cameron, is tipped to become the country’s new high commissioner to India. Should her appointment be confirmed, Cameron will be the first woman to serve as the British high commissioner in New Delhi. Alex Ellis, the incumbent British envoy, is expected to demit office shortly and move on to another diplomatic posting.
31.03 / 01:01
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President
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How China strengthened bond with Maldives amid India exit? 10 key collaborations between Male, Beijing
Mohamed Muizzu took over as the Maldives President, he has offered China many opportunities to invest in the island nation. Here's in 10 points how China has been helping Maldives in the past few months: Earlier in March, China signed a defence cooperation agreement with the Maldives. As part of the deal, China would provide Maldives with free military assistance to foster "stronger" bilateral ties.
30.03 / 13:34
30.03 / 03:17
security
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NVIDIA
Department
Updates
US updates export curbs on AI chips and tools to China
Biden administration on Friday revised rules aimed at making it harder for China to access U.S. artificial intelligence (AI) chips and chipmaking tools, part of an effort to hobble Beijing's chipmaking industry over national security concerns. The rules, released in October, seek to halt shipments to China of more advanced AI chips designed by Nvidia and others as Washington cracks down on Beijing over concerns its advancing tech sector could help boost China's military.
30.03 / 03:17
Provident
Cooper
security
country
reports
International
Anxiety grips China as Japan strengthens defence capabilities & outreach
China whenever Japan, engages in military and security-related activities. On March 26, as Japan removed restrictions on transfer of defence technology in order to allow the worldwide export of advanced fighter jets that it is jointly developing with Italy and the UK, China expressed its concern on the development. “China noted relevant reports and expresses grave concern over the decision. Given Japan’s not-too-distant history of militarist aggression, Japan’s military and security moves are closely watched by its Asian neighbours and the international community,” China’s Foreign Ministry Spokesperson Lin Jian said. The Japanese government-led by Prime Minister Fumio Kishida approved revised export rules on transfer of defence equipment and technology after the ruling outfit, the Liberal Democratic Party and its coalition partner, the Komeito Party agreed on these rules, according to a report in The Japan Times.
29.03 / 12:43
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Strategy
Apple
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Xiaomi
With China EV launch, Xiaomi's 'Thor' takes on Elon Musk
With the launch of a much-hyped and against-the-odds electric car, Lei Jun, Xiaomi's co-founder and CEO, is taking on Elon Musk with a strategy that takes a page from Tesla's playbook. Lei, 54, took the stage in Beijing on Thursday to unveil Xiaomi's SU7 car, a project three years in the making that has attracted a lot of attention but which, Lei has warned investors, will lose money.
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