Zhong Shanshan, chairman of Nongfu Spring and China’s “bottled water king,” has an axe to grind with two of the country’s biggest tech companies. Zhong slammed Pinduoduo, a Chinese e-commerce platform …
Tagged By finance
China Market Update: Fintech Lender Shows Improving Consumer, China Gears Up For Trade Negotiation
Asian equities were mostly lower overnight following a flat session on Wall Street that saw “Magnificent 7” names hit with profit taking. This was despite a pullback in the US dollar’s strength versus …
Temu owner’s shares slump as China slowdown hits sales
PDD Holdings, the Chinese owner of online shopping platforms Temu and Pinduoduo, has reported disappointing sales and profit as Chinese consumers continued to hold back amid an ec …
Corporate China seeks dollars as trade tensions rise
Chinese firms are squirreling away even more dollars, pricing contracts in yuan and opening import lines to mitigate currency risks as trade tensions threaten to roil foreign exchange rates.
Development finance veteran urges multilateral response to Trump challenges
Former World Bank vice-president Zhu Xian says China needs to engage with all possible international stakeholders.
Citigroup CEO Fraser meets Chinese vice-premier, Shanghai mayor as Beijing touts reforms
Fraser said the Wall Street bank will ‘further its participation in the market to help promote US-China economic ties and trade’.
China stimulus yet to sway long-term investors, bankers say
HONG KONG — China’s string of economic stimulus measures sparked a rush back into its stock market, but private equity and other long-term investors remain wary, prominent players say. Goldman Sachs …
Sen. Romney wants U.S. to compete better with China on foreign development investments
He introduced a bill to require the U.S. International Development Finance Corporation to prioritize projects that take into account national security needs.
China’s banking system is now suffering whiplash from pandemic-era practices
Misuse of loans and an ongoing real-estate crisis are pushing up default rates and exposing weaknesses in banks’ lending practices.
Canada wants Mexico in USMCA trade pact despite China concerns, source says
Canada wants Mexico to stay in a continental trade pact despite concerns about China possibly using it as a back door to flood the North American market, a source directly familiar with the matter …
China’s consumption stimulus debate reignites with no clear answer
Better social welfare could increase financial security and encourage spending, while cash handouts could quickly lift consumption, economists say.
Is China a ‘Developing’ Country? That’s the Trillion-Dollar Question at U.N. Climate Talks
Officials from developed and developing countries agree that more than $1 trillion a year is needed to finance poorer nations’ response to climate change—but not on who should pay up.
China says COP29 draft deal ‘not satisfactory’
China joined a global rejection of a draft deal on climate finance at the COP29 summit Thursday but urged nations to bridge their differences, with one day left in the talks. The text released by…
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