City Shenzhen Financial News

Five executives from a Filecoin mining service are facing a lawsuit at the People's Court of Pingan County in China, over allegations that they pilfered millions of dollars and left investors in ruin. 

Investing.com-- Most Asian stocks sank on Monday, with Chinese indexes leading losses on persistent concerns over slowing economic growth, while stronger U.S. inflation readings also pushed up fears of a more hawkish Federal Reserve.

Investing.com-- Most Asian stocks sank on Friday, with Chinese shares leading losses on persistent concerns over the property market,  while data showing a rise in U.S. inflation did little to improve sentiment. 

HONG KONG (Reuters) — Shanghai and Shenzhen stock exchanges said late Thursday they would study measures to lower investors' trading costs and improve liquidity to further stimulate the market.

BEIJING (Reuters) — Almost half of Chinese undergraduates returned to their hometowns last year within six months of graduation, state media reported, with the proportion rising to 47% from 43% in 2018 amid a sagging job market.

Investing.com — Most Asian stocks fell slightly on Wednesday as weak Chinese inflation data drummed up concerns over the region’s biggest economy, while a batch of weak earnings also weighed. 

semiconductors. These so-called strategic, emerging industries now account for over 56% of Hefei’s industrial output, compared with less than 27% in 2013. Whatever local officials have been doing, it appears to be “the right mix of industrial policy and private-sector mojo," says Robin Xing, an economist at Morgan Stanley and a Hefei local.

China’s 200-million-strong army of individual investors has turned away from the stock market. The country’s benchmark CSI 300 index lost around a fifth of its value last year, and has risen much less than major indexes in the U.S., Japan and elsewhere in 2023. That is creating a sense of despair among the office workers, civil servants and other ordinary citizens who are responsible for the bulk of trading in China’s stock market.

BEIJING (Reuters) — China's biggest cities including Beijing and Shenzhen said over the weekend they would implement measures to better meet the needs of homebuyers, without giving details, aiming to prop up a property sector that is seeing few signs of recovery.

Investing.com — Most Asian stocks rose on Thursday as appetite for risk-driven markets was boosted by the Federal Reserve raising interest rates as expected and downplaying the prospect of a U.S. recession this year.

China and has found an honourable mention in Chinese school textbooks! The rags-to-riches story of Dev Raturi is no doubt, a tale for the ages. Hailing from Kemriya Saur, a little hamlet located at a remote corner in Uttarakhand’s Tehri Garhwal district, this die-hard Bruce Lee fan wanted to follow in the footsteps of his idol and make a name as a karate champion. However, money was short. After a failed audition for a role in a Hindi movie in 1998, Raturi decided to dedicate himself to karate. He did various menial jobs in Delhi for a decade, before saving enough to migrate to China. He eventually landed a job as a waiter in an Indian restaurant in Shenzhen in 2005.

Investing.com — Most Asian stocks moved in a flat-to-low range on Wednesday before a widely expected interest rate hike by the Federal Reserve due later in the day, while Australian shares rallied on weaker-than-expected inflation data.

Investing.com-- Most Asian stocks kept to a tight range on Tuesday as markets awaited more cues from a Federal Reserve meeting this week, while Chinese markets rose sharply after top officials promised more policies to support growth. 

Investing.com — Most Asian stocks firmed slightly on Thursday, although local technology shares were sold off on weak cues from Wall Street, and as investors turned wary of the sector ahead of earnings from chipmaking giant TSMC.

Investing.com-- Most Asian stocks rose on Wednesday after data released overnight spurred increased bets that the Federal Reserve was close to ending its current rate hike cycle, while Chinese markets continued to lag on a worsening economic outlook.

Investing.com-- Most Asian stocks moved in a flat-to-low range on Monday, while Chinese markets fell sharply after data showed that economic growth in the country slowed substantially through the second quarter. 

Investing.com — Most Asian stocks fell on Thursday, tracking a decline in U.S. markets as the minutes of the Federal Reserve’s June meeting presented a hawkish outlook, while weak economic signals and fears of a Sino-U.S. trade war also weighed.

DBS is the first foreign bank in China to embed the CBDC into its merchant payments portfolio, processing transactions and providing consolidated merchant reports with itemised e-CNY transactions via its business banking platform DBS Ideal.Ginger Cheng, CEO of DBS Bank (China), says: "We received strong interest from several clients for the solution since its launch, and we are pleased to have completed the first e-CNY collection for a client - a catering company in Shenzhen. By seamlessly integrating a CBDC collection and settlement method into our clients’ existing payment systems, this will help position their business for a digital future where consumers in China use e-CNY for their daily activities."e-CNY usage in China has grown steadily since its pilot launch in April 2020.

Crypto-friendly bank DBS announced the launch of a digital yuan merchant collection solution for business clients. 

Cryptocurrency-friendly bank DBS is cooperating with mainland China on the development of a new payment solution for the digital yuan, also known as e-CNY.

Investing.com — Global stocks search for direction with Wall Street set to remain closed on Tuesday for the July 4 holiday. Meanwhile, Meta gears up to release a platform to rival Twitter later this week in a bid to attract users unhappy with Elon Musk's management of the social media site. Elsewhere, China unveils export controls on two key minerals in the latest development of an ongoing war over microchips between Beijing and the West.