City Beijing Financial News

A look at the day ahead in European and global markets from Tom Westbrook

Investing.com-- Most Asian currencies tread water on Tuesday, taking little cheer from a softer dollar as traders remained cautious ahead of more cues on U.S. inflation and the Federal Reserve this week.

Days after he opened an expansive new retail store in Shanghai and pledged a fresh investment in applied research in the country, Apple Inc. Chief Executive Tim Cook on Sunday gushed, “I love it here, I love the Chinese people.”

By Colleen Howe

A lot of “What ifs” still surround a bill the U.S. House passed last week that would mandate TikTok′s Beijing-based parent company to sell its stake in the platform or face a nationwide ban

US military plans to bolster functions of its command headquarters in Japan, as it aims for smoother cooperation with the Asian country's self-defence forces in tackling security threats posed by China and North Korea according to diplomatic sources cited by Kyodo news agency. Japan and the United States will also work on further steps to enhance their response capabilities, Kyodo reported. Tokyo had in 2022 decided to acquire the capability to strike enemy bases even under Japan's war-renouncing Constitution. Also, Japan is set to establish a joint headquarters to command its ground, maritime and air forces by the end of March 2025 with Kishida's government is aiming to deepen cooperation between the US military and the joint headquarters.

China on Monday for a six-day official visit during which he will hold talks with Chinese President Xi Jinping and Premier Li Qiang on ways to further deepen bilateral ties. Gunawardena was received on his arrival by Chinese Vice Foreign Minister and former Ambassador to India Sun Weidong, Chinese official media reported. This will be the first visit by a Sri Lankan leader to Beijing after Colombo put a moratorium on recurring visits by Chinese research ships to Hambantota port, reportedly due to India's security concerns.

China pledged on Monday to treat foreign companies the same way as domestic peers in a bid to attract more foreign investment, cooperation and expertise, as Asia's largest economy moves to upgrade and strengthen its industrial chains. «China will fully guarantee national treatment for foreign companies, so that more foreign companies can invest in China with confidence and peace of mind,» Vice Commerce Minister Guo Tingting said at the China Development Forum in Beijing. Guo did not give details about how China would guarantee «national treatment», or the equal treatment of locals and foreigners as per World Trade Organization (WTO) principles.

Asian equities traded within narrow ranges early Monday as investors looked ahead to a busy week of economic data including the Federal Reserve’s preferred inflation gauge. China’s currency pared some of Friday’s losses following support by authorities. Shares in Australia and Hong Kong edged higher, while those in Japan and mainland China slipped. US equity futures were little changed after a muted end to the week on Wall Street with the S&P 500 declining 0.1% and the Nasdaq index rising by the same margin on Friday.

Tim Cook said artificial intelligence is an essential tool for helping businesses reduce their carbon footprint, as he joined a climate change dialog Sunday at the China Development Forum. Cook took part in a discussion at the annual Beijing event as the culmination of a week of public displays of his company’s commitment to China. He earlier met Commerce Minister Wang Wentao and announced plans to invest further in Apple’s supply chain, stores and research in the country.

The United States and its liberal democratic allies may be facing off with authoritarian powers Russia, Iran and China as wars in Ukraine and Gaza inflame global rivalries. But to Islamic State, they’re all enemies of the Muslim faith that should be annihilated.

By Colleen Howe and Jing Xu

S Jaishankar has reiterated India's firm stance on the territorial integrity of Arunachal Pradesh during his visit to Singapore, strongly opposing China's claims over the northeastern state, as per an ANI report. Speaking at the Institute of South Asian Studies of the National University of Singapore, Jaishankar dismissed China's claims as "ludicrous," affirming that Arunachal Pradesh is an integral part of India based on its status within the country, not on external assertions. Responding to recent assertions by China, he said that India has consistently rejected such claims, reiterating that Arunachal Pradesh is an inherent part of the nation.

coal to history, the dirtiest fossil fuel is having a moment. Thanks to a combination of China’s energy insecurity — pushing Beijing back to trusted power sources — plus rising Indian demand, the continued fallout from the war in Ukraine and faltering international programs to wean developing economies off fossil fuels, coal is proving remarkably resilient. Output hit a record last year, and producers are preparing for a future where they will be required for decades yet to balance renewable energy. Even prices are holding up. While thermal coal is trading at just a fraction of the lofty levels reached in 2022, after Russia’s invasion of its neighbor, prices are still well above historic norms. Benchmark Newcastle coal futures are changing hands just under $130 a ton, roughly a quarter of the peak but higher than any level between 2011 and 2020.

BEIJING (Reuters) -China will carefully study issues of market access and cross-border data flows and will soon issue new regulations in these areas, Premier Li Qiang told an audience of global CEOs and Chinese policymakers on Sunday.

SEOUL (Reuters) -North Korean and Chinese officials have met in Beijing and committed to further develop bilateral ties, North Korean media said on Sunday, as Pyongyang seeks to expand its diplomatic engagement after COVID-19 lockdowns.

By James Pomfret, Jessie Pang and Greg Torode

SINGAPORE—Apple has held preliminary talks with Baidu about using the Chinese company’s generative artificial-intelligence technology in its devices in China, the latest example of the iPhone maker’s efforts to widen its AI capabilities. The U.S. tech giant has been exploring using external partners to help accelerate its AI ambitions.

Chinese leader Xi Jinping plans to meet a group of U.S. business leaders next week after a government-sponsored forum as Beijing steps up efforts to woo American firms amid an exodus of foreign capital. The meeting with China’s top leader is set for Wednesday, and insurer Chubb’s CEO, Evan Greenberg, along with Stephen Orlins, president of the National Committee on U.S.-China Relations, and Craig Allen, president of the U.S.-China Business Council, are expected to attend, people familiar with the matter said.

By Selena Li and Brenda Goh

United States recognises Arunachal Pradesh as Indian territory and strongly opposes any unilateral attempts by China to advance its territorial claims across the Line of Actual Control, a senior Biden administration official has said, days after the Chinese military reiterated its claim over the state following Prime Minister Narendra Modi's visit there. Earlier this week, Chinese Defence Ministry spokesman Senior Colonel Zhang Xiaogang said that the southern part of Xizang (the Chinese name for Tibet) is an inherent part of China's territory, and Beijing "never acknowledges and firmly opposes" the "so-called Arunachal Pradesh illegally established by India".