City Beijing Financial News

Asian shares are mostly lower as markets await a decision by the Federal Reserve on interest rates

BEIJING (Reuters) — China's exports of germanium and gallium products in August plunged to zero，customs data showed on Wednesday, due to new export controls on the two chipmaking metals.

The Clinton Global Initiative added gender equity as a pillar of the nonprofit’s work to sound the alarm about the increasing challenges women and girls currently face, Clinton Foundation Vice Chair Chelsea Clinton told The Associated Press in an inter...

Investing.com-- The People’s Bank of China held its benchmark loan prime rates at record lows on Wednesday, as it moved to strike a balance between supporting an economic recovery and stemming further weakness in the yuan. 

China's economic slowdown has rippled through Asia. Tourists aren't flocking to Thai beaches or Singaporean malls in the numbers anticipated. Factories are struggling, and there are questions about whether Beijing can bankroll public works in the manner to which the neighborhood has become accustomed. One glaring omission from the list of spillovers: interest-rate cuts. Despite the country's heft, China's travails aren't translating into easing in its backyard.

China's Foreign Ministry has asked all foreign consulates in Hong Kong to provide the personal details of their locally employed staff, as Beijing tightens its control over the semi-autonomous city. The Commissioner's Office of the Foreign Ministry, in a letter seen by The Associated Press, asked the consulates to provide staffers' names, job titles, residential addresses, identity card numbers and travel document numbers «in line with the Vienna Convention on Consular Relations and general international practice.» The letter, dated Monday and addressed to all consulate posts and the Office of the European Union, stated that they should comply with the request by Oct. 18, and that the details of staffers who are employed in the future should be furnished within 15 days. It wasn't clear whether China furnishes details of its staff in foreign missions to other countries. The request comes as Beijing has tightened control over Hong Kong in recent years following its imposition of a sweeping national security law aimed at stamping out dissent. Governments in the West have criticized the law as a dismantling of Hong Kong's political freedoms and civil society.

Britain has invited China to its global artificial intelligence (AI) summit in November, with foreign minister James Cleverly saying the risks of the technology could not be contained if one of its leading players was absent. «We cannot keep the UK public safe from the risks of AI if we exclude one of the leading nations in AI tech,» Cleverly said in a statement on Tuesday.

NEW YORK—Senior Chinese officials were told that an internal Communist Party investigation found ex-Foreign Minister Qin Gang to have engaged in an extramarital affair that lasted throughout his tenure as Beijing’s top envoy to Washington, according to people familiar with the matter. Qin, once considered a trusted aide to leader Xi Jinping, was stripped of his foreign minister title in July—without explanation—after he disappeared from public view a month earlier. At one point leading up to his ouster, the Foreign Ministry said the absence of 57-year-old Qin was due to health reasons.

By Xie Yu, Donny Kwok and Steven Bian

Shenzhen, China, is readying a new digital yuan giveaway as the city looks to showcase the CBDC at a range of upcoming sporting events.

metaverse sector as Beijing seeks to be a global standards-setter for new technology. The ministry released a draft proposal to form a working group for the metaverse, shared virtual worlds accessible via the internet, on Monday. The proposal said that the metaverse is one of the nine emerging tech sectors which China should strive to establish standards for.

BEIJING — In the years since Alibaba's U.S. listing in 2014, early-stage investing has drawn tens of billions of dollars into China with relatively little to show for it.

(Reuters) — Chinese property developer Country Garden won bondholders' approval on the last of a batch of eight local notes it sought to stretch out repayments on, Bloomberg News reported on Tuesday.

China’s regime has begun to spy spies everywhere. Students are being enlisted to root out snoops, and ordinary residents are being asked to question neighbours to ascertain their patriotism. Videos instructing college-goers to serve as a “defence line" against foreign forces were reportedly beamed at a university, while a national security-themed party was held at another.

SINGAPORE—China’s top diplomat was set to begin a four-day visit to Russia after a surprise stopover in Malta for weekend talks with White House officials, as Beijing lays the groundwork for separate meetings between Chinese leader Xi Jinping and his U.S. and Russian counterparts.

The weapon Beijing launched over the South China Sea traveled at speeds of more than 15,000 miles an hour as it circled the globe. Flying at least 20 times the speed of sound, it could reach anywhere on earth in less than an hour. The summer 2021 test flight ended with the missile striking near a target in China, but it sent shock waves through Washington.

BEIJING (Reuters) — China's central bank and forex regulator met with foreign financial institutions and companies on Monday, as Beijing strives to attract overseas investment to support its recovery.

run of very hot days should happen in July is, by itself, perhaps unsurprising. Two-thirds of the Earth’s land is in the northern hemisphere, and land warms up faster than water does, so northern summers are the hottest times of year for the planet as a whole. But the highest temperatures tend to come later in the season.

World Trade Organization in Geneva early this week was unambiguous: A global economy split into rival trading factions would reduce real incomes 5% — maybe double that amount in poor countries. The next day, the European Union launched what some of the 27-nation bloc’s most well-known industries — ranging from Airbus SE to cosmetic producers and wine makers — worry could land them on the punishing end of a trade war with China. Since the European Commission’s announcement Wednesday of a new anti-subsidy inquiry into Chinese electric vehicles, which might lead to duties on Made-in-China EV imports, European businesses are scrambling to assess their exposure to a potential tariff barrage between two of the world’s largest economies. That’s because President Xi Jinping’s government has shown a determination to respond to punitive trade measures — like former US President Donald Trump’s tariffs — with its own reciprocal restrictions. The most powerful tool Beijing can wield is restricting access to its huge domestic market. French Finance Minister Bruno Le Maire, speaking to Bloomberg Television on Friday, signaled that perhaps a new era has arrived, one where “the EU starts thinking about its own interest.”‘Powerful Signal’ With the Chinese subsidy investigation, Brussels “wanted to send a powerful signal,” former EU Trade Commissioner Cecilia Malmstrom told Bloomberg News in an interview.

BEIJING — Slowing growth and geopolitical tensions are stifling the Chinese startup world that once spawned unicorns such as ByteDance and Didi, according to a PitchBook report Monday.

By Scott Murdoch