City Beijing Financial News

BEIJING — Most consumers in China are planning to keep a lid on spending during this year's Singles Day shopping festival, which ends Nov. 11.

SHANGHAI/SINGAPORE (Reuters) -China's attempts to keep the yuan from falling contributed to last week's chaos in money markets, sources involved say, pointing to the pressure behind the scenes as Beijing tries to guide its economy and markets through a major slowdown.

Estonia's government says it will allow Taiwan to open a nondiplomatic representative office of Taipei in the Baltic country to boost economic and cultural ties with the self-governing island

Australian Prime Minister Anthony Albanese says he will protest a lack of transparency in China’s treatment of a detained Australian democracy blogger when meeting with President Xi Jinping in Beijing during a trade-focused state visit

The leaders of Australia and China have welcomed the improvement in relations between their two countries in the past year and emphasized the importance of engaging with each other despite differences on issues such as defense

By Ryan Woo

fire. While consumer sentiment appears to be gradually reviving, it remains below its levels in 2019. Excessive household savings that had once found their way into fixed assets have not switched to consumption, a caution that may be derived from the negative ‘wealth effect’ of depressed real estate value.

By David Lawder

Investing.com -- Stock futures on Wall Street inch higher to begin the trading week, with investors digesting the implications of recent economic data on future Federal Reserve policy decisions and looking ahead to a fresh batch of corporate earnings. Elsewhere, China's Ant Group wins approval from Beijing to release its AI model to the public, while the cash pile at Warren Buffett's Berkshire Hathaway (NYSE:BRKa) swells to a record high.

By Florence Tan and Colleen Howe

ZHAOQING, China—During the Cultural Revolution, a teenage Xi Jinping was sent down to the countryside, where he spent years in the late 1960s and early ’70s toiling on farms and reading books in a cave. Half a century later, China’s leader wants more young people to follow his lead. With youth unemployment recently hitting record levels—and deepening concern in Beijing about the hollowing out of rural China—Xi is calling on students and college graduates to embrace hardship and consider giving up city life for the countryside.

China will show no mercy towards Taiwan's independence. This comes despite turmoil in the top ranks of the country's armed forces, Voice of America (VOA) reported. General Zhang Youxia, vice chairman of China's Central Military Commission (CMC), said: «No matter who wants to separate Taiwan from China in any form, the Chinese military will never agree and will show no mercy.» His remarks came at the 10th Xiangshan Forum in Beijing on Monday.

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

China said it attended a top-level ministerial meeting at the UK AI Safety Summit on Thursday, despite not being listed by Britain among the «like-minded» participants and not featuring in official handshakes or the family photograph. China's absence sparked questions because it participated in the first day of the two-day summit on the safety of «frontier» artificial intelligence, and Britain declined to say why Beijing was not among those joining the second day's senior meeting.

South China Sea, after Ottawa rebuked Beijing for what it described as a second risky midair intercept in two weeks. Canada's Defence Minister Bill Blair said Friday that a Chinese fighter jet twice flew close to a Canadian Cyclone helicopter over the Paracel Islands on October 29, firing flares «directly in front» of the craft on the second flyby. The jet's actions «were deemed to be significantly unsafe», Blair said of the incident, which followed a similar near-miss over another disputed waterway near China in mid-October. Beijing hit back at Blair's claims on Saturday, with a defence ministry spokesperson saying the Canadian helicopter conducted «a malicious and provocative act with ulterior motives». «Recently, ship-borne helicopters on Canada's HMCS Ottawa made two sorties towards the airspace around China's Xisha Islands, with unknown intentions,» Zhang Xiaogang said in an online statement, using the Chinese name for the Paracels. «China's People's Liberation Army organised naval and air forces to identify and verify (the craft) in accordance with the law, and issued multiple warnings,» Zhang said. «However, the Canadian helicopter not only refused to respond, but also took provocative actions such as flying at ultra-low altitudes,» he added. «Afterwards, (Canada) wantonly hyped the event and made accusations and smears against China in the media,» Zhang claimed. «Canada's actions violated China's domestic laws and international law, endangered China's sovereignty and security,» he said. «We urge the Canadian side… to strictly curb the actions of frontline sea and air forces to prevent accidents at sea and in the air.» The HMCS Ottawa was transiting the South China Sea as part of attempts by the United

A Beijing-based art dealer touts itself as China's premier seller of North Korean art, despite stiff U.N. sanctions prohibiting the sale of such goods

International authorities say there's growing evidence that shows Beijing is helping cash-strapped North Korea evade a range of international sanctions designed to hamper Pyongyang's nuclear weapons program

Anthony Albanese will soon become the first Australian prime minister in seven years to visit China in recognition of improving bilateral relations

By David Brunnstrom

China turned negative for the first time since records began in 1998, highlighting how foreign companies are pulling money out of the country due to geopolitical tensions and higher interest rates elsewhere. China's direct investment liabilities in its balance of payments declined by $11.8 billion in the third quarter, the country's foreign exchange administration said. The measure records monetary flows connected to foreign-owned entities in China. Economists have said the decline in FDI by the balance of payments measure reflects less willingness by foreign companies to re-invest profits made in China in the country. That's due to strained ties with the West and the rising attractiveness of keeping cash overseas.

Narendra Modi and External Affairs Minister S Jaishankar. He will also visit Assam and Maharashtra, the ministry said as quoted by PTI. “The King of Bhutan Jigme Khesar Namgyel Wangchuck, accompanied by senior officials of the Royal Government of Bhutan, will be on an official visit to India from November 3 to 10," it said.