City Guangzhou Financial News

08.04 / 10:51

markets MET economy DISH Trade testing Relationships Yellen’s tough message to China on exports tests fragile detente

BEIJING—When Treasury Secretary Janet Yellen met her Chinese counterpart in Switzerland early last year, she tiptoed around controversial issues, only raising trade disagreements during a brief, one-on-one coffee break with Liu He, then China’s vice premier, according to people familiar with the meeting. In China over the past few days, Yellen wasn’t so shy. She hammered Chinese officials for exporting too many clean-energy goods, warning regional officials, as well as Vice Premier He Lifeng and Premier Li Qiang, to scale back industrial production.

06.04 / 12:23

markets Provident Cooper Manufacturing economy reports Relationships US and China plan talks on economics, including manufacturing 'overcapacity' issue, Yellen says

China agreed to hold talks that will address a key American complaint about China's economic model, Treasury Secretary Janet Yellen said Saturday on the second day of an official visit to China. The two sides will hold «intensive exchanges» on more balanced economic growth, according to a U.S. statement issued after Yellen and Chinese Vice Premier He Lifeng held extended meetings over two days in the southern city of Guangzhou.

20.03 / 11:57

Citi Aviat Boeing reports Traffic Updates Investigations 2 years on, still no answer to why a China Eastern Boeing 737 crashed, killing all 132 people aboard

Chinese accident investigators have indicated they have not yet determined the cause of a 2022 plane crash that killed all 132 people on board

23.02 / 18:51

markets UPS Citi Reuters trends China's new home prices extend declines despite policy support

By Liangping Gao and Ryan Woo

17.02 / 20:53

MET Citizens Southern country song travelers Nepal's Home Minister orders crackdown following interference by Chinese envoy

Nepal's Home Minister Narayan Kaji Shrestha who has directed local authorities to crack down against illegal activities by citizens from the neighbouring country. Shrestha's directive came against recent activities by certain Chinese nationals who violated visa norms and Forex regulations, ET has learnt.

07.01 / 05:37

Citi economy President stage country reports Migrant workers moving out coastal cities as crisis grips Chinese economy

Chinese economy, some migrant workers, labour brokers and shop owners have started moving out of the coastal cities and returning home as jobs in the country's coastal cities face a reduction in job opportunities, the Voice of America (VOA) reported. In its report on Thursday, it said that in China, January is typically a time when many migrant workers begin an annual trip home to celebrate the Lunar New Year. However, this year, the massive exodus from coastal cities to provinces across the country began much earlier.

15.12 / 05:49

Digital NetEase country China's video games market recovers in 2023, domestic sales surpass $42.6 billion

China's video games market returned to growth this year as domestic revenue rose 13% to 303 billion yuan ($42.6 billion), putting Beijing's 8-month crackdown two years ago in the rear-view mirror. Industry association CGIGC said at a conference in Guangzhou on Friday the industry's domestic revenue this year reached over 300 billion yuan for the first time. It also said the number of gamers in China grew 0.61% to a record 668 million, which is more than North America's entire population.

08.12 / 05:39

Citi IPO Man CEO Workday stage reports The World’s Most Anonymous CEO Is About to Take Center Stage

When employees at fashion giant Shein crowded into an elevator in the company’s Guangzhou office at the end of one workday this summer, no one took notice of Sky Xu. The quiet man in the corner was one of the wealthiest people in China, the driving force behind an app that has quickly become one of the top shopping destinations in the world—and the boss of everyone riding the elevator. With Xu that day was Frances Townsend, a senior adviser to Shein.

04.12 / 02:51

Citi Provident Digital country innovations Chinese Firms Can Now Make Digital Yuan Housing Fund Payments

Chinese firms can now use the digital yuan to pay into employee housing funds, as the nation’s banks look for new CBDC applications.

15.11 / 14:19

Mobile film performer track country reports testing Huawei, China Mobile unveil world’s fastest internet network, ‘can transmit 150 movies per second’

Huawei Technologies, and Cernet Corporation, in a ground-breaking development, unveiled the 'world's fastest internet' network, claiming that the network can transmit data at 1.2 terabits per second, reported South China Morning Post. The report said the companies in collaboration with Tsinghua University built over 3,000 kilometers of network linking Beijing, Wuhan, and Guangzhou through an optical fiber system that they claim can transmit data at an astonishing speed of 1.2 terabits (1,200 gigabits) per second, surpassing the most existing major networks by more than ten times.

07.11 / 17:55

Volkswagen Tesla pandemic performer country reports Japanese Automakers Face Stay-or-Go Decision in China

TOKYO—Struggling to compete with homegrown electric-vehicle makers in China, Japanese automakers are looking at whether to cut their losses and focus resources on warding off Chinese rivals in other stronghold markets. During the first half of their fiscal year—the period from April to September—Honda, Nissan, Mazda, Mitsubishi Motors and Subaru reported year-over-year declines in auto sales in China. Toyota’s China sales volumes were little changed from a year earlier but the automaker flagged the market as one of particular concern.

07.11 / 09:21

Reuters Manufacturing Volkswagen Nov show Toyota extends output cut at Chinese JV to ease dealer pressure

SHANGHAI (Reuters) — Japan's Toyota Motor (NYSE:TM) has told dealers that it will extend a plan to reduce output at one of its joint ventures in China, where it faces rising competition.

06.11 / 06:09

Citi Career Southern country reports volunteers China Tries to Lure Its Unemployed Youth to the Countryside

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.

27.10 / 11:33

Aviat Airlines Southern pandemic Experts reports travelers China's top two airlines report profit after years of losses

By Sophie Yu and Brenda Goh

27.10 / 10:33

Airlines Southern reports China Southern Airlines posts quarterly net profit

BEIJING (Reuters) — China Southern Airlines reported a net profit of 4.2 billion yuan for the third quarter, its first profit in nearly four years.

26.10 / 05:48

UPS Citi Software Tesla track reports testing Tesla rival Xpeng presses ahead with driver-assist rollout in China, Europe

BEIJING — Chinese electric car company Xpeng said this week it plans to roll out driver-assist technology in Europe by the end of next year, and remains on track with plans to expand the tech to 50 cities in China by year-end.

25.10 / 05:55

Provident RBC Albemarle information reports fall MinRes blames ‘manipulation’ for fall in lithium prices

Mineral Resources says lithium markets are being manipulated to suppress prices in a sector still dominated by battery chemical makers in China.

13.10 / 09:37

UPS Citi FIVE Aviat CEO Remark testing China gives Ehang the first industry approval for fully autonomous, passenger-carrying air taxis

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

06.10 / 09:57

UPS Assurant Arrow shootings show Silver end Asian Games: Indian archers win silver and bronze in recurve team events, end 13-year wait

archery on Friday when the Indian men's and women's teams surpassed expectations to clinch a silver and bronze respectively, their first medals since 2010, at the Asian Games here on Friday. Battling injuries, the recurve team of Ankita Bhakat, Simranjeet Kaur and Bhajan Kaur defied odds to clinch a bronze medal in the morning session. The fifth-seeded women's trio dropped just one set to down their Vietnamese rivals 6-2 (56-52, 55-56, 57-50, 51-48) and secure their first-ever Asian Games medal in the Olympic-discipline category since Guangzhou 2010.

06.10 / 04:53

Assurant Continental Indian Asian Games: Indian women's recurve team wins bronze

Indian archers ended a 13-year long wait for a medal in recurve section at the Asian Games when the women's team of Ankita Bhakat, Simranjeet Kaur and Bhajan Kaur defeated Vietnam to win a bronze at the Asian Games here on Friday. Unfancied going into the continental showpiece, the fifth-seeded women's trio dropped a set to down their Vietnamese rivals Do Thi Anh Nguyet, Nguyen Thi Thanh Nhi and Hoang Phuong Thao 6-2 (56-52, 55-56, 57-50, 51-48).

01.10 / 12:05

UPS Man Career Racing show Indian Avinash Sable becomes first Indian man to win Asian Games 3000m steeplechase gold

Avinash Sable on Sunday became the first Indian man to win a gold medal in 3000m steeplechase at the Asian Games. The 29-year-old national record holder thus earned India its first gold medal in athletics at the ongoing Games, completing the race in 8:19.50 seconds. Sable rewrote the previous Asian Games record of 8:22.79 held in the name of Iran's Hossein Keyhani set at the 2018 Jakarta Games.

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