Province Hainan Financial News

BEIJING — New Covid cases are spiking across mainland China, prompting many local authorities to tighten controls on movement.

Chinese President Xi Jinping met with Bangladesh's Chief Adviser Muhammad Yunus here on Friday, official media reported. Yunus, on a four-day visit to China, took part in the country's Boao Forum for Asia Annual Conference in Hainan after his arrival there on Wednesday. He arrived in Beijing on Thursday and was received at the airport by Chinese Vice Foreign Minister Sun Weidong. Gearing up for his meeting with Xi, Yunus called on China on Thursday to reduce interest rates for Chinese loans and waive commitment fees on Chinese-funded projects. In his meeting with the Chinese Executive Vice Premier Ding Xuexiang on the sidelines of the Boao Forum for Asia Annual Conference, Yunus sought Chinese support in an array of development projects, Bangladesh media reports said. He also called for a reduction of interest rates for Chinese loans from three per cent to 1-2 per cent to Bangladesh and sought a waiver of commitment fees on the Chinese-funded projects in Bangladesh. China is Bangladesh's fourth-largest lender after Japan, the World Bank and the Asian Development Bank, with total loans disbursed since 1975 coming to USD 7.5 billion, according to a report in the Daily Star newspaper of Bangladesh.

Muhammad Yunus is due in China on Wednesday at the start of a four-day visit during which he is expected to seek financial support and sign MoUs to boost his country’s sagging economy amid dwindling support from the US under President Donald Trump. India will keep a close watch if Yunus agrees to any Chinese military presence particularly in any airfield closer to the border area. Additional Chinese support for Bangladesh armed forces and any enhanced Chinese military presence in the Bay of Bengal will also be closely monitored, according to Bangladesh watchers. Yunus will attend the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, Hainan province, and hold bilateral talks with Chinese President Xi Jinping on March 28. Boosting economic relations with China will be a central focus of this visit, sources in Dhaka said. Yunus will later speak at Peking University, where he will reportedly be presented with an honorary doctorate. China, while engaged with Dhaka under the Hasina government and earlier with the BNP regime, is keen to keep Yunus in good humour for its economic and strategic interests in the Bay of Bengal region. As per a report in Bangladesh’s leading English newspaper The Daily Star, China and Bangladesh are planning to sign at least eight MoUs on trade, culture, upgrading Mongla Port and water management. The Sheikh Hasina government had given India access to the Mongla Port.

Chinese economy looks like it is taking a major hit from certain provinces, that is making their possibilities of finishing on a high, even more difficult. The economic slowdown in China is slowly becoming a harsh reality, with the Asian country seeing five provinces going through a sharp downswing effect in recent days, with Tibet and Jilin taking centerstage in this doomsday scenario, according to a Bloomberg report.

Shanghai halted transportation links, recalled ships and shut tourism spots including Shanghai Disney Resort on Sunday as it braced for Typhoon Bebinca, in what could be the strongest tropical cyclone to hit the Chinese financial hub since 1949. The Category 1 typhoon, packing maximum sustained wind speeds near its centre of around 144 kilometres per hour (89 miles per hour), was about 500 kilometres southeast of Shanghai as of 1:00 p.m. (0500 GMT). It is expected to make landfall along China's eastern coast after midnight on Monday. The strongest storm to make landfall in Shanghai in recent decades was Typhoon Gloria in 1949, which tore through the city with gusts of 144 kph. Shanghai was last threatened by a direct hit in 2022 by the powerful Typhoon Muifa, which instead landed 300 km away in the city of Zhoushan, in Zhejiang province.

China deepened its push to further open up the economy, eliminating restrictions on the manufacturing sector and expanding opportunities for foreign investment in the health sector in an effort to revive growth. The Chinese government will reduce its list of industries off-limits to foreign investors to 29 from 31 and fulfill its pledge of zero restrictions on the manufacturing sector, the National Development and Reform Commission and the Commerce Ministry said in a joint statement on Sunday. The new list, set to take effect Nov.

Typhoon Yagi pounded south China's island province of Hainan with heavy rain and gusty winds, local authorities said Saturday. Yagi, the 11th typhoon of this year, made two landfalls in China on Friday, first striking Hainan and later Guangdong province. China has sounded a red alert on Friday and warned of floods in the southern region as Yagi made landfall first in Hainan followed by southern Guangdong province and is expected to hit China's Guangxi Zhuang autonomous region and northern Vietnam. More than one million people have been evacuated in the affected areas with work, classes and businesses suspended and over 100 flights cancelled on Friday, the Hong Kong-based South China Morning Post reported.

Super Typhoon Yagi, Asia's most powerful storm this year, churned towards the northern coast of Vietnam on Saturday after tearing through China's southern island province of Hainan and leaving two people reported dead. The lightning, rain and violent winds that hit Hainan also caused 92 to be injured, Chinese state media said on Saturday, citing local authorities. Yagi made landfall in Hainan on Friday, packing maximum sustained winds of 234 kph (145 mph) near its centre, downing trees and flooding roads. Power supply to more than 800,000 homes was cut.

Hong Kong and was moving toward a Chinese island province where it was expected to make landfall Friday, forcing many aspects of life in the region to a halt. Trading on the stock market, bank services and schools were halted in Hong Kong after the city's weather authority raised a No. 8 typhoon signal for Typhoon Yagi, the third-highest warning under the city's weather system. Yagi, with maximum sustained winds of 230 kilometers (142 miles) per hour near its center, forced more than 250 people to seek refuge at temporary government shelters and led to cancellations of more than 100 flights in the city. Heavy rain and strong winds overnight felled dozens of trees across the financial hub before the weather gradually calmed on Friday morning. The weather forecaster was expected to downgrade the typhoon signal in the afternoon.

Indian Space Research Organisation (ISRO) planning its next Moon mission – Chandrayaan-4, also aimed at bringing back lunar samples. Here's a look at the difference between China's latest Chang'e-6 mission, its 2026 mission, Chang'e 7, which aims to explore lunar south pole and India's Chandrayaan 4 mission. As per the CNSA, the Chang'e 6 is the world's first attempt to retrieve substances from the moon's far side – the side which is not visible from the Earth.

Chang'e-6 on Friday to collect samples from the far side of the moon. The probe is set to collect samples from the far side of the moon, making this mission the first of its kind in human history, China National Space Administration (CNSA) said in its announcement. Currently, preparations for the mission are progressing steadily at the Wenchang Space Launch Site in south China's Hainan Province, and the Long March-5 Y8 carrier rocket will soon be refuelled with propellant, the CNSA said.

By Ananya Mariam Rajesh and Aatrayee Chatterjee

More Chinese banks are issuing loans in the digital yuan, the nation’s central bank digital currency (CBDC), as e-CNY corporate financing options diversify.

Chinese farmer Wei Fuyou clearly remembers the moment four years ago when he first watched a video clip showing that durian, a pungent fruit with a smell reminiscent of gym socks, could be grown on the tropical island of Hainan, where he lives. “That means I can grow them, too!" he recalls yelping. Wei promptly cut down some of his betel nut palms and planted 400 durian trees in their place.

By Granth Vanaik and Ananya Mariam Rajesh

TikTok phenomenon in the U.S. to respond faster to trends and keep rebalancing the distribution of its products to continue betting on its retail partnerships with Ulta Beauty, Target and Sephora-Kohl’s ventures, where mass beauty brands top sales. Indie brand e.l.f.

global warming and the ongoing effects of climate change. Typhoon Talim, the fourth typhoon of the year, arrived with maximum wind speeds of 136.8 kilometres per hour, according to the China Meteorological Administration. As it made landfall at approximately 10:20 PM (7:50 PM India time), it brought along storm surges and heavy rainfall, affecting the southern coastline from Guangdong to Hainan provinces.

Talim. The authorities have also asked residents to stay at home. Tens of thousands of people were being evacuated in southern China and Vietnam on Monday, and dozens of flights cancelled as a typhoon barrelled towards land.

Up to 40 suspected crypto scammers are facing prosecution in China – with 10 already standing trial.

Over 300,000 stores and vendors in Changsha, China, now accept digital yuan payment – as the central bank digital currency continues to break new ground in the country.

Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp out fraud and other associated risks.