The Chinese ultra-rich population is expected to swell to 144,897 by 2028 from 98,551 in 2023, where are they parking their wealth?
FINANCE
It’s now okay to not be okay about getting rich in China – but this could become a problem
China appears to have entered a stage when the pursuit of wealth is seen as something suspicious, not glorious.
FirstFT: China’s finance sector crackdown reaches Hong Kong
Also in today’s newsletter, EU prepares trade plan to tackle Donald Trump, and McDonald’s suffers first global sales drop since 2020 …
Why US right-wing Project 2025 could be bad news for Beijing: ‘China is a threat’
They also warn that Beijing will need to keep a cool head to avoid escalating bilateral hostilities, with the Project 2025 plan coming across as “shockingly malicious” against China. Spearheaded by …
The People’s Bank Of China Makes The Tiniest Of Gestures
BEIJING, CHINA – Headquarters of the People’s Bank of China (PBOC). (Photo by Jiang Qiming/China … [+] News Service/VCG via Getty Images) At last, the People’s Bank of China (PBOC) has cut interest …
Russian Economy Dealt a Blow by China
Business newspaper Kommersantreported that restrictions by banks in China have been growing since December 2023, when U.S. President Joe Biden issued an executive order that could deny Chinese …
China’s Xi and Italy’s Meloni Meet in Beijing
Chinese President Xi Jinping and Italian Prime Minister Giorgia Meloni met in Beijing on Monday as part of the Italian premier’s five-day trip to China. In her first official visit since coming to …
China Market Update: Alibaba’s Monetization Moves The Stock, Domestic Investors Plead “Jia You”
Asian equities had a strong day despite a stronger US dollar as Japan, Hong Kong, and South Korea outperformed. Meanwhile, Mainland China and the Philippines underperformed, and Thailand was off for a …
As mainland China broadens yuan’s global appeal, Hong Kong may play larger role
With geopolitics making overseas use of the yuan more common, a professor has said the time is now for Hong Kong to have a greater role in the currency’s offshore settlement.
China doubles subsidies to lift BEV sales
Exports are also coming under increased pressure from trade frictions with the US and Europe. According to the China Passenger Car Association (CPCA), retail sales of passenger vehicles in the country …
Stellantis to use EU plants for China’s Leapmotor
He said that the first shipment of 800 cars were on the way from China. During Stellantis’ H1 2024 results call, Mr Tavares also said that the firm has already decided on several vehicle assembly…
The Karakhan Manifesto and China’s Salami Slicing of Russia!
In 2005 it was bilaterally decided that the Bolshoy Ussuriysky island would be split in half and the border would run in its centre …
China’s yuan retreats; focus on Politburo meeting, major central bank decisions
SHANGHAI: China’s yuan eased against the dollar on Monday, after posting its best week since December last week, …
