HONG KONG (Reuters) -China’s internet giant Tencent Holdings said that it will unveil an artificial intelligence (AI) chatbot on Thursday, according to a social media post it published on Wednesday.
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China state banks mop up offshore yuan liquidity, sell dollars onshore -sources
State banks often act on behalf of China’s central bank in the foreign exchange market, but they could also trade on their own behalf or execute clients’ orders. The goal of the state banks’ actions…
China’s central bank conducts 26-bln-yuan reverse repos
BEIJING, Sept. 6 (Xinhua) — China’s central bank conducted 26 billion yuan (3.61 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday. The move aims to keep …
UPDATE 1-China state banks tighten offshore yuan, sell dollars onshore -sources
State banks often act on behalf of China’s central bank in the foreign exchange market, but they could also trade on their own behalf or execute clients’ orders. The goal of the state banks’ actions…
China stocks face earnings downgrades while market awaits more substantive support measures, Bank of America says
China’s stock market rebound from a nine-month low isn’t backed by stronger corporate earnings. On the contrary, 76 per cent of onshore-listed firms have cut their 2023 outlook, Bank of America says.
Exclusive: China to launch $40 billion state fund to boost chip industry
China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts …
Chip war heats up: China to launch $40B state fund for semiconductor manufacturing
China National Tobacco Corp. and China Telecom in addition to the government’s finance ministry. In the past, the Big Fund has provided financing to China’s two largest chip foundries, Semiconductor …
South China Sea: Beijing’s approach ‘will badly backfire in the future’
Beijing risks damaging its ties in the region if it continues efforts to assert control in the disputed South China Sea, analysts said ahead of the annual Asean gathering. They said recent …
Mortgage Rates Slashed As Beijing Joins Cities Cutting Purchase Restrictions, Week In Review
Beijing joined the growing list of cities … Mainland-listed real estate stocks jumped +2.5% overnight. The People’s Bank of China (PBOC), China’s central bank, lowered the foreign exchange deposit …
Why China Is Avoiding Using ‘Bazooka’ to Spur Economy
China has taken a series of incremental steps to boost its economy after a run of disappointing data showed the government is increasingly at risk of missing its growth target of about 5% for this…
Exclusive-China to Launch New $40 Billion State Fund to Boost Chip Industry, Sources Say
HONG KONG/BEIJING (Reuters) – China is set to launch a new state-backed investment … Personal Advisors – Partner with an advisor to build a personalized financial plan based on what’s important to you. Get started…
China Seeks $40 Billion Fund to Drive Chipmaking, Reuters Says
The state-backed China Integrated Circuit Industry Investment Fund is establishing its third and largest investment pool of about 300 billion yuan ($41.1 billion), Reuters reported. The country’s …
Exclusive: China to launch new $40 bln state fund to boost chip industry, sources say
China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts …