City Shanghai Financial News

15.06 / 03:21

UPS Citi Waves luxury brands Luxury brands say China's latest Covid wave has whacked consumer demand

BEIJING — Luxury brands have slashed expectations for their China business this year after the country's latest Covid lockdowns, according to an Oliver Wyman survey shared exclusively with CNBC.

14.06 / 10:55

Citi Volkswagen Tesla Southern Most factories in Shanghai resume work as Covid controls ease, ministry says

BEIJING — Factories in two of China's Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according to China's Ministry of Industry and Information Technology.

12.06 / 22:31

Citi FIVE week Economy Week Ahead: Fed, Other Central Banks in Focus

The Federal Reserve’s policy meeting highlights this week’s slate of economic news.

06.06 / 11:15

Citi Booking Parke China tries to shake off the worst of the pandemic in a long, zero-Covid journey

BEIJING — China is starting to show signs of recovery from the latest Covid shock.

31.05 / 20:33

Eagle Baidu Diamondback DexCom Stocks making the biggest moves midday: American Eagle Outfitters, Unilever, Nio and more

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31.05 / 15:13

Reuters Action Eagle Sherwin-Williams Stocks making the biggest moves premarket: Yamana Gold, Credit Suisse, Unilever and more

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31.05 / 09:35

Government Stablecoin Tether Asia China state media signals tighter crypto regulations in Terra aftermath

The China state-owned media outlet the Economic Daily has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem.

30.05 / 18:41

business Blockchain Adoption City of Shenzhen airdrops 30M in free digital Yuan to stimulate consumer spending

According to local news outlet Shanghai Securities News, the City of Shenzhen will airdrop 30 million digital Chinese Yuan (e-CNY) to local residents in an attempt to revitalize consumer spending.

27.05 / 12:01

Platform Tencent Baidu JD.com Alibaba, Tencent and JD.com all just posted their slowest revenue growth on record

BEIJING — Chinese tech giants Alibaba, Tencent and JD.com have all posted their slowest revenue growth on record as Covid and Beijing's tech crackdown took their toll.

24.05 / 04:21

Citi Target Manufacturing Southern shock Why China will likely recover more slowly from the latest Covid shock

BEIJING — China's economy won't be snapping back quickly from the latest Covid outbreak, many economists predict.

20.05 / 04:33

Provident Williams CEO Tesla NOT Chinese electric car start-up Nio says supply chain disruption, not demand, is their biggest problem

BEIJING — Nio's biggest challenge right now is making sure that supply chains are stable, CEO William Li told CNBC.

18.05 / 12:55

Citi Target JPMorgan Goldman Sachs cuts its China GDP forecast to 4% on Covid controls

BEIJING — Goldman Sachs analysts on Wednesday cut their forecast for China's GDP to 4% after data for April showed a slump in growth as Covid-19 controls restricted business activity.

17.05 / 04:43

COST Manufacturing Strategy Some factories might leave China, but in the grand scheme of things it doesn't matter much

BEIJING — China still holds the cards for global supply chains, whether or not Covid lockdowns frustrate businesses in the near term.

16.05 / 05:19

Citi Reuters Manufacturing economic data China's economic data disappoint in April as Covid controls weigh

BEIJING — China reported a drop in retail sales and industrial production in April — far worse than analysts had expected.

13.05 / 00:27

regulation Court Bitcoin rights Shanghai court affirms that Bitcoin is virtual property, subject to property rights

The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was made in relation to a lawsuit filed in a district court in October 2020 involving the recovery of a loan of 1 Bitcoin (BTC). The lower court recognized Bitcoin as having value, scarcity and disposability, and therefore being subject to property rights and meeting the definition of virtual property.

11.05 / 11:25

Citi FIVE Compilation Tesla Shanghai's big automakers saw production plunge by 75% in April after lockdowns began

BEIJING — Auto production plunged in April as Covid lockdowns halted nearly all non-essential business in the metropolis of Shanghai, according to a report from the China Passenger Car Association.

10.05 / 08:39

UPS Citi FIVE More U.S. companies in China cut forecasts, scale back investments as Covid persists

BEIJING — More U.S. businesses in China are cutting revenue expectations and plans for future investment as Covid controls drag on, a new survey found.

06.05 / 12:45

Citi Fighting Strategy China's Xi urges officials to 'resolutely fight' those who question zero-Covid policy

BEIJING — Chinese President Xi Jinping headed a meeting of top leaders on Thursday that emphasized the country should stick to its «dynamic zero-Covid» policy, and warned that economic consequences would follow if it doesn't, according to state media.

05.05 / 14:55

cryptocurrency Binance CEO Bitcoin Cryptocurrency Exchange Binance Registers With France's Market Regulator

In March, Binance gained licenses from Dubai and Bahrain.

05.05 / 05:17

CEO Apple Starbucks restrictions COVID restrictions From Estee Lauder to Apple, big companies say China's Covid restrictions are hitting business

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05.05 / 02:03

Blockchain cryptocurrency Binance Bitcoin regulatory approval regulatory Crypto exchange Binance gets French regulatory approval, eyes Paris as regional hub in Europe

Cryptocurrency exchange Binance has registered with France's market regulator, Chief Executive Officer Changpeng Zhao said in a tweet on Wednesday, advancing the company's plan to make Paris its European base.

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