City Beijing Financial News

BEIJING — Chinese smartphone company Xiaomi announced Tuesday it would formally launch its long-awaited electric car on March 28.

Investing.com-- Most Asian stocks kept to a tight range on Tuesday as markets remained cautious before key U.S. inflation data, while Japanese stocks saw extended losses amid more signs that the Bank of Japan will raise interest rates soon.

Also Read: Demand for Indian bonds skyrockets in recent months – 5 key reasons why The CSI 300 Index of mainland shares has gained about 13% since a five-year low reached Feb. 2. The Hang Seng Tech gauge advanced more than 4% on Tuesday, with Xiaomi Corp.

₹825 crore tunnel, constructed on the road connecting Assam's Tezpur to West Kameng district of Arunachal Pradesh, is being billed as the longest bi-lane road tunnel in the world at such an altitude. The Sela Tunnel will provide for better movement of troops and weaponry to various forward locations along the Line of Actual Control (LAC) with China, according to military officials. China, which claims Arunachal Pradesh as South Tibet, routinely objects to Indian leaders' visits to the state to highlight its claims.

Shares are mostly higher in Asia ahead of a report on inflation in the U.S. that could sway the Federal Reserve's timing on cutting interest rates

China's national congress has concluded its annual session with the usual show of near-unanimous support for the ruling Communist Party's blueprint for the year

AI assistant for neurosurgeons at seven hospitals in Beijing and other cities in coming months, one of many initiatives the government is backing to try and harness the technology. A Hong Kong-based agency under the Chinese Academy of Sciences on Monday introduced an AI model based on Meta Platform's Llama 2.0. Researchers trained and fine-tuned the model with papers, medical journals and manuals to act as a surgery consultant of sorts for doctors, said Liu Hongbin, the center's executive director. State organs are joining private Chinese firms in developing homegrown AI in the mold of OpenAI's ChatGPT.

Tata Motors, which harnessed increasing demand for electric cars to reclaim automotive market-capitalization leadership in India, has urged New Delhi to extend incentives on electric taxis for another three years and also include personal cars in the government's flagship demand support program FAME, citing global EV leader China's example. Tata Motors, which has seen a near-six-fold surge in its stock price through the past five years that helped establish its domestic EV leadership credentials, wants New Delhi to help replicate an enabling environment similar to that in Beijing that has pledged to support adoption of EVs until unit sales touched at least a fifth of all new cars sold. «Globally, major economies (China, Germany) have continued to support EV adoption with demand subsidies until achievement of at least 20% EV adoption,» Shailesh Chandra, managing director, Tata Passenger Electric Mobility and Tata Motors Passenger Vehicles, said in the letter dated March 9. «The Parliamentary Standing Committee on Industry had also recommended in 2023 that the Government broaden the scope and extend FAME by at least three more years to make the scheme more inclusive,» Chandra said in the letter, a copy of which has been seen by ET.

BEIJING — China's weeklong annual parliamentary meetings ended on Monday and for the first time in decades, the Chinese premier did not host a press conference.

diplomatic protest with India over Prime Minister Narendra Modi's visit to Arunachal Pradesh last week, reiterating its claim over the area by saying India's moves will «only complicate» the boundary question. Prime Minister Modi on Saturday dedicated to the nation the Sela Tunnel built at an altitude of 13,000 feet in Arunachal Pradesh that will provide all-weather connectivity to strategically located Tawang and is expected to ensure better movement of troops along the frontier region. The Rs 825 crore tunnel, constructed on the road connecting Assam's Tezpur to West Kameng district of Arunachal Pradesh, is being billed as the longest bi-lane road tunnel in the world at such an altitude. The Sela Tunnel will provide for better movement of troops and weaponry to various forward locations along the Line of Actual Control (LAC) with China, according to military officials.

China’s Shandong Province has introduced a digital yuan loan program for entrepreneurs, a step towards integrating digital currency in regional business practices.

BEIJING — China's struggling real estate developers won't be getting a major bailout, Chinese authorities have indicated, warning that those who «harm the interests of the masses» will be punished.

HONG KONG/SHANGHAI/BEIJING (Reuters) -Chinese regulators recently met financial institutions to discuss state-backed property developer China Vanke where they asked large banks to enhance financing support and asked private debt holders to discuss maturity extension, two sources said.

By Ryan Woo and Liangping Gao

The script at China’s National People’s Congress is pre-determined months before the event, but there had been speculation this week that Beijing might name a new foreign minister. Instead, it seems senior diplomat Wang Yi will continue in the role. The world’s second-largest economy has missed a trick.

TikTok once again finds itself in a precarious position

BEIJING (Reuters) — Shanghai Zhenhua Heavy Industries (ZPMC) said on Sunday its cranes do not pose a cybersecurity threat, after U.S. congressional committees questioned the Chinese state-owned company's work on cranes bound for the United States.

China has intensified efforts to block software that enables internet users to access banned websites during a top political meeting this week, a leading provider of firewall-leaping software told AFP. Beijing operates some of the world's most extensive censorship over the internet, with web users in mainland China unable to access everything from Google to news websites without using a virtual private network (VPN).

China, Xi Jinping appears imperiously assured that he possesses the right road map to surpass Western rivals. China's economy has lurched into a slower gear. Its population is shrinking and aging. Its rival, the United States, has built up a lead in artificial intelligence. Xi's pronouncement several years ago that the «East is rising and West is declining» — that his country was on the way up while American power shrank — now seems premature, if not outright hubristic.

ByteDance to divest TikTok, rather than simply banning the short video app used by 170 million Americans, the Justice Department told Congress in a document seen by Reuters. Lawmakers and the Biden administration say TikTok poses enormous national security risks because the Chinese government could gain access to data from millions of American users.

Narendra Modi on Saturday inaugurated the strategically significant Sela Tunnel in Arunachal Pradesh providing an all-weather connectivity to Tawang bordering China. The inauguration comes a day after China's stern reply to India amid the diplomatic standoff between the two nations. According to a Bloomberg report, India has freed up thousands of soldiers to strengthen its disputed border with China, adding a potential irritant to its already sour relations with Beijing. As a response, China has said that deploying more troops at the border would not ease tensions. It said that it is committed to upholding peace and tranquility in the border areas.