City Beijing Financial News

By Laurie Chen

Josep Borrell said Saturday that a plan by Israel to evacuate more than one million people out of northern Gaza in a single day was «utterly impossible to implement». Israel warned residents in the area to evacuate before an expected ground offensive against Palestinian Islamist organisation Hamas in retaliation for the deadliest attack in Israel's history. «I am saying that, representing the official position of the European Union… (the evacuation plan) is utterly, utterly impossible to implement,» Borrell told a press conference in Beijing on the final day of a three-day diplomatic visit to China. «To imagine that you could move one million people in 24 hours in a situation like Gaza can only be a humanitarian crisis,» he added. EU chief Ursula von der Leyen had expressed support to Israeli Prime Minister Benjamin Netanyahu on Friday during a visit to the country. «Europe stands with Israel,» said von der Leyen, adding that the country had «a duty to defend its citizens». But Borrell's comments in Beijing showed the limits of that affirmation, saying that Israel was also obligated to follow international humanitarian law in the process of defending itself. «The position is clear,» said Borrell. «We certainly defend the right of Israel to defend itself.» «But, as any right, it has a limit.

China has reported its exports and imports both fell in September from a year earlier as global demand remained muted

The European Union’s top foreign policy official has warned that public sentiment in Europe could turn more protectionist if the bloc's trade deficit with China is not reduced

BEIJING — Self-driving air taxis are one step closer to reality in China.

HSBC Holdings Plc. “The numbers don’t exactly add up,” economists Frederic Neumann and Justin Feng wrote in a report Friday.

TikTok and Montana faced off in federal court on Thursday in a case filed by the video sharing app and five Montana content creators who want the court to temporarily block the state's ban on the platform before it takes effect Jan. 1. Attorneys for TikTok and the content creators argued that the state has gone «completely overboard» in trying to regulate TikTok and is essentially trying to implement its own foreign policy over unproven concerns that TikTok might share user data with the Chinese government.

BEIJING — China reported a smaller-than-expected decline in exports in September from a year ago, while imports missed, according to customs data released Friday.

By Katya Golubkova and Andrew Hayley

By Joe Cash and Liangping Gao

TAIPEI (Reuters) — Taiwanese chipmaker TSMC has received from the United States a waiver extension to supply U.S. chip equipment to the company's factories in China, Taiwan Economy Minister Wang Mei-hua said on Friday.

BEIJING (Reuters) — China's consumer prices were flat in September, while factory-gate prices shrank at slower pace, official data showed on Friday, indicating deflationary pressures persist in the economy.

TikTok and Montana faced off in federal court in a case filed by the video sharing app and five content creators who want the court to temporarily block the state's ban on the platform before it takes effect on Jan. 1

Taiwan has repeatedly pushed for the conclusion of a Bilateral Investment Agreement (BIA) with the EU, saying it would help encourage more Taiwanese investment, especially from chip companies.

General Liu Zhenli, the head of the military body responsible for China's combat operations and planning, has emerged as the top contender to replace the country's defence minister, who has not been seen in public for more than six weeks, according to five people familiar with the matter. The appointment of Liu to replace Defence Minister Li Shangfu — which one of the people said was likely to happen before Beijing holds an international security forum later this month — could boost military engagement with the United States amid regional tensions, three military analysts told Reuters. Li was sanctioned by the U.S. in 2018 for an arms deal he secured with Russia in an earlier role.

(Fixes headline typo)

Indian Ocean region to effectively address the development challenges as it warned them to be clear of the dangers of «hidden agendas» in unviable projects or unsustainable debt, in an apparent reference to China which is accused by the West of «debt trap» diplomacy. Speaking at the 23rd Council of Ministers Meeting of the Indian Ocean Rim Association (IORA) in Sri Lanka, External Affairs Minister S Jaishankar said that it is important to maintain the Indian Ocean as a free, open and inclusive space based on the UN Convention on the Law of the Seas (UNCLOS), as the Constitution of the Seas.

inflation print to come near 5.5 per cent in September against 7.44 per cent in July and 6.83 per cent in August. Moreover, reports emerged that China was planning to announce stimulus to help its economy. This also underpinned market sentiment.

BHP’s chief commercial officer Vandita Pant is optimistic China’s housing market policies could buoy already strong demand for iron ore, generating “strong momentum” for the steel-making commodity into next year.

Vladimir Putin will visit Kyrgyzstan on Thursday, the presidential office of the Central Asian country said, in what would be the Russian leader's first known trip abroad since the International Criminal Court issued a warrant for his arrest. Putin has rarely travelled abroad since the start of Moscow's invasion of Ukraine in early 2022 and is not known to have left Russia since the ICC issued in March a warrant for him on suspicion of illegally deporting hundreds of children from Ukraine. The Kremlin denies those allegations. «At the invitation of the President of the Kyrgyz Republic, Sadyr Japarov, on October 12 of this year, the President of the Russian Federation, Vladimir Putin, will make an official visit to the country,» the Kyrgyz presidential administration said in a statement on its website. Putin agreed in May during talks with Japarov to visit Kyrgyzstan, but there has been no official confirmation yet from the Kremlin that the Russian president will travel there on Thursday. The Russian leader is also due to travel to China next week for the third Belt and Road Forum in Beijing.

BEIJING — China's consumer spending still isn't growing as fast as it did before the pandemic, analysts said.