China will give out over $13.51 million to residents of various areas in an attempt to boost local consumption.
FINANCE
Beijing Sets Sights on Becoming Global Wealth Management Hub by 2025
Beijing will greatly increase access by international investors to its capital markets over the next three years as China’s capital city transforms itself into a global wealth management center of …
Finance Minister to monitor China lockdown impact
Finance Minister Sri Mulyani Indrawati has said that she will monitor the zero-COVID policy imposed by China in response to the rampant spread of the virus in …
China Allots Next Year’s USD59.7 Billion of Special Funds to Local Gov’ts in Advance
China will allocate in advance next year’s budgetary funds worth CNY400 billion (USD59.7 billion) to ease the burden on local authorities. The move aims to help make up for lower local government …
The week in review: China launches ETF Connect, expands Bond Connect
Industrial profits in China dropped 8.5% year-on-year in April, according to the National Bureau of Statistics. For the first four months of 2022, industrial profits totalled Rmb2.658tr ($397bn), up 3 …
Oil prices: Brent crude tops $120 a barrel as China eases COVID curbs
Oil prices rose on Monday as China eased pandemic measures after nearly three months of lockdowns and traders anticipate a deal to limit Russian oil imports into the European Union. Over the …
Talking China down will again fall flat
Badmouthing China is not something new, and China’s economy is indeed facing a lot of downward pressure due to factors like the COVID-19 epidemic. But objectively speaking, these pessimistic opinions …
FX at one-month high on weaker dollar, China reopening hopes
The Chinese yuan rose to 6.6485, hitting a one-week high against the dollar, while the blue-chip CSI300 and Hong Kong stock indexes gained 0.7% and 2%, respective …
Shanghai lockdown: China’s financial hub set to lift Covid curbs
Authorities in Shanghai have announced that some Covid-19 lockdown measures imposed on businesses will be lifted from Wednesday. Plans have also been introduced to support the city’s economy, which …
WRAPUP 1-Some in Beijing back to work, Shanghai inches closer to ending COVID lockdown
Streets in Beijing were busier on Monday as residents in two districts were allowed to return to work, while Shanghai inched closer towards lifting its two-month old COVID-19 lockdown from Wednesday, …
Next Hong Kong Leader John Lee to Meet China’s Xi in Beijing
Hong Kong’s next leader John Lee will meet Chinese President Xi Jinping and other top leaders during his first visit to China’s capital since his selection as chief executive earlier this month, …
China reopening hopes lift yuan to one-week high
SHANGHAI: China’s yuan strengthened on Monday as the dollar drifted lower on diminished expectations that rate …
Shanghai lockdown: Chinese financial hub set to lift curbs on firms
Authorities in Shanghai have announced that some Covid-19 lockdown measures imposed on businesses will be lifted from Wednesday. Plans have also been introduced to support the city’s economy, which …