City Shanghai Financial News

Beijing/Shanghai: Huawei Technologies on Monday showcased a series of new products from a gold smartwatch to a smart car but disappointed viewers by not revealing more details about its new Mate 60 smartphone series, prompting an outpouring of complaints online. The event, held in a stadium and watched by millions online, was expected to see Huawei break its silence on the smartphone, which has been hailed by Chinese state media as a sign the firm had overcome U.S. sanctions that since 2019 has cut its access to advanced chipmaking tools and crippled its smartphone unit.

Project mBridge may soon see significant expansion, according to Hong Kong Monetary Authority (HKMA) CEO Eddie Yue. He outlined the plans for the central bank digital currency (CBDC) project in a speech in Shanghai.

By Yelin Mo and Brenda Goh

Top Thai officials have welcomed hundreds of Chinese tourists at Bangkok’s international airport on the first day of a new visa-free entry program that officials say will boost tourism

Chinese regulators have taken a novel approach to prop up the country’s faltering stock market by banning many companies’ biggest shareholders from selling. The country’s $11 trillion domestic stock market has slumped this year after a post-Covid rally, hurt by a weak economy, an outflow of foreign money and a rising sense of nervousness among small investors. The CSI 300 index of the country’s largest listed companies is down 4.1% in the year-to-date period, following losses in the previous two calendar years.

China is considering relaxing the rules that cap foreign ownership in domestic publicly traded firms, people familiar with the matter said, as it seeks to lure global funds back to its $9.4 trillion stock market. 

By Nicoco Chan and Yelin Mo

SHANGHAI (Reuters) — As China's stock market struggles to recover, regulators have started to probe some hedge funds and brokerages on quantitative trading strategies amid a growing outcry against a sector able to profit from share price falls and volatility, sources said. The China Securities Regulatory Commission (CSRC) has checked with several major brokers over the past weeks about short-selling activities and trading strategies of their quant clients — funds that trade rapidly using derivatives and data-driven computer models, two people with direct knowledge of the probe said. Separately, the Shanghai and Shenzhen stock exchanges, under the CSRC's guidance, have sought information from major quant funds on their money-making strategies, another source said. «They want to know the logic of the trading (strategy), the source of the profit; under which situation you hold net long, or net short positions… and the reason behind buy and sell orders,» the source said.

SHANGHAI — Chinese electric car brand Nio on Thursday released an Android smartphone, which the company expects at least half its users to buy, CEO William Li told CNBC in an exclusive interview ahead of the launch.

BEIJING/SHANGHAI (Reuters) — A Huawei Technologies unit is shipping new Chinese-made chips for surveillance cameras in a fresh sign the Chinese tech giant is finding ways around four years of U.S. export controls, two sources briefed on the unit's efforts said.

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 Walt Disney Co. is planning to invest approximately $60 billion into its theme parks and cruise lines over the next decade, as the company looks to continue growing one of its more successful business segments

Fed policy meeting, stocks are drifting again in the US stock market. The S&P 500 was off 0.2% early Tuesday. The Dow slipped 37 points and the Nasdaq composite was down 0.4%.

Asian shares are mostly weaker in cautious trading ahead of the Federal Reserve’s looming decision on interest rates

Foreign companies operating in China say tensions with Washington over technology, trade and other issues and uncertainty over Chinese policies are damaging the business environment and causing some to reassess their plans for investing in the giant ma...

By Engen Tham and Selena Li

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

China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost $500 billion is now facing a bigger threat: a plunge in the number of couples willing to tie the knot. The trend, which has become more obvious as the economy weakens and consumer confidence wanes, is also worrying officials trying to revive marriage, and birth, rates which dropped to record lows last year, leading to the first decline in population numbers in 60 years. «The number of marriages is falling and few are willing to spend a lot on weddings,» said Yuan Jialiang, who ran a full-scale wedding planning business for almost a decade in Shanghai before switching to focus on wedding photography before the pandemic. «The future of this industry doesn't look promising.» There were 6.8 million marriages across China last year, 800,000 fewer than in 2021 and the lowest since the government began publishing the data in 1986. This drop in marriage registrations will exacerbate the decline in births in China, now one of the world's fastest-ageing societies.

emerging markets (EMs), including India, experts believe. The public debt of the world's second-largest economy has been mounting, its property market is in deep distress, its exports are slowing and it has to deal with geopolitical issues too. China's economic outlook is bleak.

The Chinese central bank has updated its digital yuan app, adding new CBDC-powered features, “service” options, and utilities bill payment functions.