City Beijing Financial News

China's foreign minister condemned Israel's actions for going "beyond the scope of self-defence" and called for it to "cease its collective punishment of the people of Gaza". "(Israel) should listen earnestly to the calls of the international community...

U.S. chip stocks like Nvidia (NASDAQ:NVDA), and Advanced Micro Devices (NASDAQ:AMD), among others, are trading lower early Monday following a Bloomberg News report that the U.S. will strengthen restrictions on China's access to advanced chip technology.

Russian President Vladimir Putin is expected to meet this week with Chinese leaders in Beijing on a visit that underscores China’s support for Moscow during its war in Ukraine

Leaders of emerging market countries are arriving in Beijing for a meeting organized by the Chinese government that will mark the 10th anniversary of its Belt and Road Initiative

By Karen Freifeld

By Ju-min Park

Israel-Palestine conflict. While the US and allies have showed their support to Israel, both China and Russia sided with Palestine.

BEIJING — An ambassador of an African country to China has criticized the International Monetary Fund and the World Bank for restrictive lending policies.

China's central bank ramped up liquidity support to the banking system as it rolled over medium-term policy loans on Monday, but kept the interest rate unchanged as expected. The People's Bank of China (PBOC) is walking a tight rope between keeping liquidity ample to aid a struggling economy and stabilising the yuan amid expectations of «higher for longer» U.S. rates. The PBOC said in a statement it conducted medium-term lending facility (MLF) operations worth 789 billion yuan ($107.96 billion) to keep liquidity in the banking system adequate.

Russia's top diplomat Sergei Lavrov arrived in Beijing on Monday ahead of an expected visit by President Vladimir Putin to China, for a gathering of representatives of 130 countries that will be overshadowed by the Israel-Gaza war. This will be Putin's first trip to a major global power since the Ukraine invasion. The foreign ministry announced on social media platform X, formerly Twitter, that Lavrov was in the Chinese capital as part of a Russian delegation. Beijing is hosting representatives of 130 countries Tuesday to Wednesday to mark a decade of its Belt and Road Initiative (BRI) — a key geopolitical project of President Xi Jinping to extend China's global reach. But all eyes will be on Putin, who last month told Beijing's Foreign Minister Wang Yi in Saint Petersburg he had «gladly accepted» Xi's invitation to visit China for the BRI talking shop. The Russian leader's strategic dependence on China has only grown since his invasion of neighbouring Ukraine thrust his country into international isolation. Putin last week voiced concern at the «catastrophic increase» in the number of civilian victims in Israel and the Gaza Strip. The Kremlin ambassador to the United Nations has called for a «humanitarian cease-fire» in the Gaza Strip and Israel, while blaming the United States for the ongoing conflict. This year, trade between China and Russia has soared to levels not seen since the beginning of Moscow's war in Ukraine, with Chinese imports of Russian oil offering Moscow a critical lifeline as international sanctions bite. China has refused to condemn the war in an effort to position itself as a neutral party, while at the same time offering Moscow vital diplomatic and financial support. At the heart of the

Vladimir Putin will meet Xi Jinping in China this week in a bid to deepen a partnership forged between the United States' two biggest strategic competitors. Putin will attend the Belt and Road Forum in Beijing on Oct.

IMEC) and India-Israel-USA-UAE projects, China has launched dialogue across the region seeking to align BRI with Turkiye's Middle Corridor Initiative. Turkiye had decried IMEC, which is aimed at rivaling BRI in the region and this week's BRI summit in China is expected to witness efforts to align Ankara's Middle Corridor Initiative with BRI. The two sides recently held a high-level dialogue on the issue, ET has learnt. IMEC was announced on the sidelines of the G20 summit here in the presence of leaders of the USA, Saudi Arabia, India and Europe. Trans-Caspian East-West-Middle Corridor Initiative shortly named as 'The Middle Corridor', begins in Turkiye and passes through the Caucasus region via Georgia, Azerbaijan, crosses the Caspian Sea, traverses Central Asia and reaches China, according to a Turkish foreign ministry document.

China's Belt and Road Forum this week is likely to «mainstream» the group in the presence of more than 120 countries invited to the mega gathering. The Taliban leadership will attend a summit for the first time since storming to power in August 2021. The move is also an attempt to create a wedge with India and use the first-mover advantage with the Taliban, according to people in the know. Taliban officials and ministers have at times travelled to regional meetings, but the Belt and Road Forum is the first high-profile summit where Taliban has been invited officially, according to one of the people mentioned above.

Olympic gold medallist Abhinav Bindra on Sunday expressed the hope that India will get to host the Olympic Games in the near future. Speaking on the sidelines of the International Olympic Committee's (IOC) 141st Session here, Bindra, the winner of the 2008 Beijing Olympics gold in 10m air rifle, said, «I hope we get to host the Olympic Games in the near future.» Prime Minister Narendra Modi had on Saturday asserted, while declaring the IOC Session open, that India will leave «no stone unturned» in its efforts to organise the 2036 Olympics.

Xi Jinping hosted the Palestinian president in Beijing and invited the Israeli prime minister for an official state visit. Benjamin Netanyahu accepted, and China was on track for a bigger role in the region.

The number of individuals with investable assets greater than $100 million more than doubled in the past two decades.

Anwaarul Haq Kakar's four-day visit to Beijing starting Monday, according to a media report on Sunday. The agreements would be signed under the USD 60 billion China-Pakistan Economic Corridor (CPEC) programme, Dawn newspaper reported.

Israel-Hamas War: Israel's actions in Gaza have gone «beyond the scope of self-defence» and the Israeli government must «cease its collective punishment of the people of Gaza», China's Foreign Minister Wang Yi said in remarks published Sunday. Wang's remarks, made on a call to his Saudi Arabian counterpart Prince Faisal bin Farhan on Saturday, came as Israel appeared poised for a ground offensive against Hamas militants in Gaza. «Israel's actions have gone beyond the scope of self-defense,» Wang said according to a foreign ministry readout «It should listen earnestly to the calls of the international community and the UN secretary general, and cease its collective punishment of the people of Gaza,» he added in the strongest stance China has expressed so far on the conflict. More than one million people in the northern part of the crowded enclave have been ordered to flee ahead of the expected assault, an exodus that aid groups said would set off a humanitarian disaster.

Zhai Jun will visit the Middle East next week to push for a ceasefire in the Israel-Hamas conflict and promote peace talks, state broadcaster CCTV reported Sunday. Zhai «will visit the Middle East next week to coordinate with various parties for a ceasefire, to protect civilians, ease the situation, and promote peace talks,» CCTV said in a video posted to its official social media account on Sunday. The CCTV report came as Israel appeared poised for a ground offensive against Hamas militants in Gaza. More than one million people in the northern part of the crowded enclave have been ordered to flee ahead of the expected assault, an exodus that aid groups said would set off a humanitarian disaster. The cramped and impoverished territory, where 2.3 million residents live on top of each other, has been under a land, air and sea blockade since 2006. The latest deadly Israeli salvos were sparked by a Hamas raid which saw fighters break through the heavily fortified border between the Gaza Strip and Israel and gun down, stab and burn to death more than 1,300 people. In Gaza, health officials said Israel's response had killed more than 2,200 people.

By David Lawder and Andrea Shalal

China's semiconductor imports dropped 14.6 per cent (year-on-year) in the first nine months this year amid tightened US export controls, the media reported on Saturday. China imported 355.9 billion units of integrated circuits (ICs) from January to September, down from 416.7 billion in the same period last year, according to data published by the General Administration of Customs, reports South China Morning Post. The total value of IC imports fell 19.8 per cent to $252.9 billion.