City Beijing Financial News

In recent years, koi have become hugely popular in Asia, with exports doubling over the past decade

US Treasury Secretary Janet Yellen will visit China again next year at her counterpart’s invitation, as officials in the world’s two biggest economies seek to boost contact further and improve tense relations.

China continues to battle its property demons while it is Italy's turn to be in the eye of the ratings agencies. Here is your week-ahead primer from Lewis Krauskopf in New York, Kevin Buckland in Tokyo, Danilo Masoni in Milan and Alun John and Dhara Ranasinghe in London. 1/ INFLATION WATCH A slew of Federal Reserve policymakers including boss Jerome Powell say they are still not sure that rates are high enough to finish the battle with inflation. Traders, anticipating roughly three quarter-point Fed rate cuts next year, will now turn their attention to Tuesday's inflation data to confirm their view on the outlook. The October consumer price index is expected to have climbed 0.1% on a monthly basis, according to a Reuters poll. September's CPI rose 0.4% on a surprise surge in rental costs, but also showed a moderation in underlying inflation pressures. A sharper cooling could fan the peak rate talk, fuelled by October's employment report, which pointed to an easing in labor markets. A federal government shutdown meanwhile looms if lawmakers in Washington are unable to pass a measure to at least temporarily fund operations before a Nov.

By David Lawder and Ann Saphir

BEIJING — U.S. chipmaking giant Nvidia has reportedly found a way to sell high-end chips to Chinese companies — while remaining compliant with U.S. rules aimed at curbing China's access to the tech.

Taiwan with a plan to send tens of thousands of workers to the island as early as next month, according to senior officials familiar with the matter, potentially angering neighbor China. Taiwan could hire as many as 100,000 Indians to work at factories, farms and hospitals, the officials said, asking not to be identified as the discussions are private. The two sides are expected to sign an employment mobility agreement by as early as December, the people said. Taiwan’s aging society means it needs more workers, while in India, the economy isn’t growing fast enough to create enough jobs for the millions of young people who enter the labor market every year.

Reserve Bank of India Governor Raghuram Rajan said. “We should be going at 8%-8.5% given the needs of the population and the need for jobs,” Rajan said via video link at an event in Beijing on Friday. Economic growth at 6%-6.5% is strong compared with other countries, “but relative to our need for jobs I think it’s still somewhat slow because we have a lot of young people who need to be employed.” While India’s expansion has outpaced that of other major economies, the country isn’t creating enough jobs for the millions of people joining the workforce every year.

(Reuters) -Meta Platforms has struck a deal with Tencent Holdings (OTC:TCEHY) to sell a new, low-cost virtual-reality (VR) headset in China, as it tries to return to a market where Facebook (NASDAQ:META) and Instagram remain blocked, the Wall Street Journal reported on Thursday.

Investing.com-- Most Asian currencies moved in a flat-to-low range on Friday, while the dollar held on to recent gains as comments from Federal Reserve officials saw traders reassess expectations of no more interest rate hikes.

BEIJING — Chinese business database Qichacha said Friday it passed a data export security assessment that allows the company to resume overseas operations.

BEIJING — Chinese startup Li Auto sold more cars than Tesla's China business did in October, according to the China Passenger Car Association.

BEIJING/HONG KONG (Reuters) — When China's largest developer Country Garden first skipped debt payments in August, its shares tumbled 14%, marking a reversal of fortunes: from industry poster child to another troubled property company struggling to pay its creditors.

Investing.com — Oil prices rose Thursday, recovering from near four-month lows although concerns over a slowdown in global crude demand remain.

SINGAPORE—The list of business executives and political figures who have gone missing in China keeps growing. Top executives at a video-streaming platform and a pharmaceutical company were the latest to disappear, as an intensifying clampdown by Beijing on alleged corruption and malfeasance shakes business confidence in China, among local and foreign firms alike. Chen Shaojie, chief executive of livestreaming firm DouYu, has been unreachable since October, a person familiar with the matter said.

Russian President Vladimir Putin has told a senior Chinese military official that Moscow and Beijing should expand their cooperation on military satellites and other prospective defense technologies

China is revamping the Belt and Road Initiative, which has pumped billions of dollars in grants and loans into developing countries over the last ten years. This comes as the country attempts to rein in the risks that plagued its earlier investments, according to a new report released on Monday, The Hill reported. China has shifted its attention to reducing the risk of not being repaid, its exposure to environmental, social, or governance (ESG) factors, and potential damage to its reputation in the developing world, the report from AidData, a research lab at William & Mary, found. The report said: "Beijing has launched a far-reaching effort to de-risk the (Belt and Road Initiative) by refocusing its time, money, and attention on distressed borrowers, troubled projects, and sources of public backlash in the Global South." «It is learning from its mistakes and becoming an increasingly adept international crisis manager,» it added. With more than half of its loans now in repayment, China is facing the fallout from the lack of guardrails in place at the outset of its Belt and Road Initiative.

BEIJING (Reuters) — Tesla (NASDAQ:TSLA) Inc on Thursday said it raised prices on its refreshed Model 3 and Model Y long-range vehicles in China, starting Nov. 9.

Linekong Interactive, a gaming and film production company headquartered in Beijing and listed on the Stock Exchange of Hong Kong (HKEX), is allocating $15 million to invest in projects building on the Bitcoin network.

₹6,324 per bbl, having swung between ₹6,306 and ₹6,481 per bbl during the session so far, against a previous close of ₹6,507 per barrel. Also Read: India's oil demand up 4% in October, jet fuel consumption hits 43-month high: S&P Global -The EIA now expects total US petroleum consumption to fall by 300,000 barrels per day (bpd) this year, reversing its previous forecast of a 100,000 bpd increase. US crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, according to American Petroleum Institute figures.

A Chinese industry association has reported that sales of passenger cars rose 10.2% in October over a year earlier as makers ramped up promotions and customers opted for electric and hybrid vehicles

Josh Birenbaum, deputy director for the Center on Economic and Financial Power at the Foundation for Defense of Democracies, discusses why trading partners find it increasingly difficult to do business in and with Beijing.