The Dow, S&P 500 and Nasdaq sank Monday following a sharp selloff in global stocks as fears of a U.S. recession mount with bond yields hitting yearly lows. Apple added to the tech weakness after…
FINANCE
China’s AI-related companies total 1.67 million in first half of 2024 amid ChatGPT frenzy
Mainland China added more than 237,000 new companies involved in artificial intelligence (AI) during the first half of this year, according to corporate database platform Qichacha, taking the total to …
INTERNATIONAL VIEW – 1,300 kilometers of railroad vs. China: The West tries to push back Beijing’s influence in Africa with a $2.3 billion infrastructure project
The PGII has been in existence since 2022 and is intended to finance infrastructure projects in developing … The U.S. and Europe apparently want to beat China at its own game in Africa. Beijing has…
Sino Jet Wins Two Awards at the China Finance Summit 2024: Pioneer the New Era of Digital Intelligence in Business Aviation
HONG KONG, Aug. 6, 2024 /PRNewswire/ — The 13th China Finance Summit and the Amazing Innovative Entrepreneurs Festival 2024 have recently concluded in Beijing with great success. During this …
China’s central bank conducts reverse repos Tuesday
BEIJING, Aug. 6 (Xinhua) — China’s central bank conducted 620 million yuan (about 87 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.7 percent Tuesday. The move aims to keep …
China central bank asks some institutions to report daily long-term bond holdings: sources
CHINA’S central bank asked some financial institutions to report daily changes in their long-term treasury bond positions and balances, four people familiar with the matter said on Monday (Aug 5), as …
China’s city dwellers will soon have more pets than toddlers, and there’s one way investors can cash in on the trend, Goldman Sachs says
China’s baby bust could see its urban pet population outnumbering the number of toddlers by 2030, investment bank Goldman Sachs wrote in a July 28 report. “We expect to see stronger momentum in pet …
China asks large state financial institutions to drop auditor PwC, say sources
BOC, China Life, PICC, China Taiping and China Cinda did not immediately respond to a request for comment. The MOF is the biggest shareholder in more than 20 large state financial institutions …
China’s Sweltering Heat Pushes Shanghai Power Demand to Record
(Bloomberg) — Punishing heat throughout southern China is stressing power networks and farmland as extreme weather continues to exact a deadly toll in the world’s second-biggest economy. Most Read …
Shouldn’t the world thank China for producing too much stuff?
Overcapacity could be said to characterise Swiss exports of financial services, French exports of champagne and US exports of civil aircraft. Yet overcapacity has become a negative buzzword solely …
Saudi Fund’s Multibillion-Dollar Bank Deals Deepen China Push
Saudi Arabia’s wealth fund signed preliminary agreements worth as much as $50 billion with six Chinese financial institutions, in the latest example of the kingdom’s deepening ties with Beijing. The …
China eyes yachts, esports and ‘low-altitude flying’ to boost consumer spending
Tourists gather at a hot air balloon festival on July 29 in Zhangye, China. Kong Linsheng—VCG via Getty Images China’s government on Saturday laid out its priorities to spur consumer spending as weak …
China’s financial regulator slaps fines on 17 banks over irregularities
China’s banking and financial regulator has imposed fines of more than 17 million yuan ($2.37 million) on 17 banks for breaching regulations on loan management products and lending, a latest move to …
