City Beijing Financial News

China will host the third Belt and Road Forum for International Cooperation in Beijing from Oct. 17 to 18, according to state media Xinhua news agency. Chinese President Xi Jinping will attend the opening ceremony and deliver a keynote speech.

"Invest in Girls' Rights: Our Leadership, Our Well-being" In 1995 World Conference on Women in Beijing, countries unanimously adopted the Beijing Declaration and Platform for Action – the most progressive blueprint ever for advancing the rights of not only women but girls. According to the United Nations, the Beijing Declaration is the first to specifically call out girls’ rights.

Chinese property developer Country Garden has warned it cannot meet deadlines to repay its loans as the company struggles to restructure its debts

China is touting its 10-year-old Belt and Road Initiative as an alternative model for economic growth as it seeks to win friends and strengthen its leadership of the developing world

U.S. Senate Majority Leader Schumer says he is grateful for a stronger statement from China condemning the deadly Hamas attack on Israel issued during his visit to Beijing that included a lengthy meeting with President Xi Jinping

Bitcoin application-specific integrated circuit (ASIC) manufacturer Bitmain has paused employee salary payments for September and beyond.

BEIJING/TAIPEI (Reuters) — China on Monday extended an investigation into what it calls Taiwan's trade barriers against it by three months to the eve of the island's presidential election, prompting Taipei to accuse Beijing of attempting to interfere in the vote.

BEIJING — China's big «Golden Week» holiday saw domestic tourism rebound to around pre-pandemic levels, while overseas travel had yet to fully recover, according to official figures.

BEIJING — China called for a ceasefire in the Israel-Hamas conflict — and for «establishing an independent State of Palestine,» according to a Ministry of Foreign Affairs statement Sunday.

China’s investment in the Lithium battery industry is seemingly coming back to haunt the country’s smaller battery manufacturers who have invested billions to take advantage of the growing demands as well as the subsidies provided by the government. China’s battery manufacturers are expected to produce 4,800 gigawatt-hours (GWh) of batteries by 2025 while the demand for such batteries is shrinking by the hour. This is not only quadruple of the demand sought by the country’s EV makers, but is also ultimately going to lead to the closure of battery manufacturers that operate in smaller sizes. As per reports from private companies operating in the lithium industry, the production capacity at China’s battery factories is estimated to reach more than twice the demand levels in the country, approximately for 22 million EVs. China, globally accounts for the largest share in processing some of the most essential materials required to produce batteries; such as 65% of the world’s lithium, 74% of cobalt, 100% of graphite and 42% of copper processing units.

Tourism in China has bounced back to pre-pandemic levels during a recent eight-day national holiday, giving a temporary boost to the nation’s flagging economy

US President Joe Biden indicated the possibility of holding a meeting with Chinese President Xi Jinping during the upcoming Asia-Pacific Economic Cooperation summit in San Francisco next month, AP reported. “There has been no such meeting set up, but it is a possibility," Biden told reporters when asked about the prospects of a face-to-face meeting with the Chinese leader. Biden and Xi have not engaged in any discussions since their last meeting in November, which took place on the sidelines of the Group of 20 summit in Bali, Indonesia.

A Chinese coast guard ship came within a few feet of a Philippine vessel it was trying to block in the disputed South China Sea, signaling a more forceful approach by Beijing in the strategic waterway where tensions are growing. Philippine vessels were attempting to resupply a small detachment of marines on the isolated Second Thomas Shoal when the incident occurred on Wednesday. China also claims the reef, as it does for much of the South China Sea.

By Stephen Nellis and Max A. Cherney

(Reuters) — An updated rule curbing exports of U.S. chipmaking equipment to China is in the final stages of review, according to a government posting and a source, a sign the Biden administration is poised to soon tighten restrictions on Beijing.

BEIJING — Chinese authorities are signaling a softer stance on once-stringent data rules, among recent moves to ease regulation for business, especially foreign ones.

China is spending billions of dollars annually on foreign information manipulation efforts including through China-Pakistan Media Corridor and Beijing uses false or biased information to promote positive views of the country and the Chinese Communist Party (CCP) alleged a newly released US State Department Report. At the same time, China suppresses critical information that contradicts its desired narratives on issues such as Taiwan, its human rights practices, the South China Sea, its domestic economy, and international economic engagement, alleged the report titled ‘How the People’s Republic of China Seeks to Reshape the Global Information Environment.’ “More broadly, the PRC (People’s Republic of China) seeks to cultivate and uphold a global incentive structure that encourages foreign governments, elites, journalists, and civil society to accept its preferred narratives and avoid criticizing its conduct,” the State Department report claimed.

Chinese tech giant. Huawei, a leader in 5G telecom equipment, has been at the centre of the intensifying US-China rivalry over advanced tech in recent years. The United States and its allies have curtailed its access to major markets and advanced tech — including chip making — over fears its products could allow China to spy on their networks. Taiwan's Minister of Economic Affairs Wang Mei-hua agreed on Wednesday — during questioning by lawmakers — to launch a probe into four tech firms that collaborated with Huawei on chip plants. The four Taiwanese companies are helping Huawei develop an «under-the-radar network of chip plants» in China, Bloomberg reported this week. The companies were identified by Bloomberg as Topco Scientific Co., L&K Engineering Co., United Integrated Services Co.

BEIJING — Asia's competitive advantage was once cheap labor. Now, whether it's China, India or Japan, the region's edge lies in industrial services, KKR's heads of global and Asia macro said in an October note.

(Reuters) — Citigroup (NYSE:C) economists raised their forecast for China's economic growth for the year to 5%, from 4.7%, citing stabilizing economic indicators and Beijing's supportive policy measures of late.

Typhoon Koinu's storm encircled Taiwan between 6 am Wednesday (October 4) and 6 am Thursday (October 5), its defence ministry (MND) tracked one Chinese military aircraft and three navy vessels across the nation, Taiwan News reported. The People's Liberation Army Air Force (PLAAF) military aircraft and three PLAN boats were reportedly spotted, according to the defence ministry. Taiwan's Defence Ministry (MND)said that no graphic of the flight paths had been supplied since there had been no indication that any PLAAF aircraft had crossed the Taiwan Strait's middle line or gotten as far as Taiwan's Air Defence Identification Zone (ADIZ)'s southwest sector. The MND said that it used its intelligence, surveillance, and reconnaissance apparatus to keep an eye on the situation. It responded by dispatching navy ships, combat patrol aircraft, and land-based air defence missile systems. Beijing has been using «grey zone tactics» more often since September 2020, such as deploying military aircraft and naval vessels beyond the middle line and within Taiwan's ADIZ, Taiwan News reported. Notably, Grey zone tactics are «an effort or series of efforts beyond steady-state assurance and deterrence that attempts to achieve one's security objectives without resorting to the direct and substantial use of force.» Typhoon Koinu on Wednesday pounded Taiwan with heavy rain and winds.