After years of efforts to advance trade in services and develop its free trade zone, Beijing municipal authorities are now making greater strides to boost openness in various industries, streamline …
Tagged By financials
Why China’s slowdown is a ‘top risk’ for the US economy
EY’s team of economists also acknowledge that the US economy’s direct trade exposure to China is “rather small.” But “a potential tightening in global financial conditions associated with a ‘China …
Xi Jinping’s absence from G20 frustrates European leaders eager for time with China’s decision maker
European leaders’ efforts to gain a diplomatic foothold with China have been frustrated by President Xi Jinping’s decision to skip this week’s G20 summit in New Delhi. Capitals are increasingly of the …
China’s yuan touches 10-month low before paring some losses as state banks step in
China’s yuan fell to a 10-month low against a buoyant dollar before paring some losses on Wednesday, as state banks stepped in to offer support to prevent the local currency from sinking further.
China, Saudi Arabia enter ‘new stage’ of financial cooperation as state-owned bank opens Riyadh branch
China’s most internationalised state bank on Tuesday opened its first branch in Saudi Arabia in a move to expand the use of yuan amid a growing number of economic deals between the two countries. Bank…
China’s Tencent to unveil AI chatbot after Beijing clears hurdles
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.
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 …
