China is ground zero for the price war in electric vehicles and the battleground is shifting to SUV-styled EVs, the largest segment of the market, dominated by Tesla Inc and BYD , .
FINANCE
China’s New Foreign Minister Meets US Envoy for First Time
Chinese Foreign Minister Qin Gang met US Ambassador Nicholas Burns in the highest-level meeting in weeks between the world’s biggest economies, signaling that Beijing may soon allow more senior-level …
EXCLUSIVE-HSBC reaches deal to buy out China fund partner -sources
HSBC has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world’s second-largest …
Berkshire Hathaway sells $58.9 mln worth of shares in China’s BYD
Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.96 million Hong Kong-listed shares of electric vehicle maker BYD for HK$462.09 million ($58.9 million), a stock exchange …
China using its currency to insulate against future sanctions
In the last year, a drive to insulate China’s economy from dollar-based sanctions has emerged as possibly the most important incentive for decoupling from the dollar, as China looks to prepare for the …
Chinese Bank Stocks Soar, Adding $166 Billion in Trading Frenzy
Chinese bank shares surged, with some posting their biggest one-day gains since the country’s 2015 equity bubble, after more lenders cut deposit rates and further progress on state-owned enterprise …
China’s Forex Reserves Swell to $3.2 Trillion; Why is Beijing Keeping Huge Currency War Chest?
China’s foreign exchange reserves have been rising steadily since 1997, from 15 percent of the gross domestic product around that time to more than 40 percent currently.
China property bonds’ road to recovery fraught with risks amid drawn-out restructurings, gloomy sector outlook, and volatile markets
China’s high-yield property bonds are likely to continue along a bumpy road, as they turned to losses so far this year after a strong rally, Allianz Global Investors says.
World can live with US-China competition that stays clear of violence
From talent to tech, markets may be partially decoupled or fully severed. But in a civilised contest, acts of violence – particularly war – would be out of the question China may have reopened but…
Eacop financing swings to China as its firms hog deals
Project is falling behind schedule after many risk-averse banks pulled out of the …
Top intel Democrat warns China and Russia could ‘exploit’ US debt default
Rep. Jim Himes (D-Conn.), the top Democrat on the House Intelligence Committee, warned on Sunday that China and Russia could “exploit” a possible U.S. default, which the Treasury Department warns …
China increases gold reserves in April for 6th consecutive month, tackling global market uncertainties
China increased its gold reserves for the sixth consecutive month in April to 66.76 million ounces (1,893 tons) amid a global financial panic triggered by aggressive US interest rate hikes on top of …
China gave 190 chip firms US$1.75 billion in subsidies in 2022 as it seeks semiconductor self-sufficiency
China’s largest chip maker, SMIC, was also its biggest subsidy recipient at US$282.1 million, illustrating national priorities amid a protracted tech war Other top recipients include Apple supplier …
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