Evergrande, a Chinese property giant nursing more than $300 billion in debt, remains on the brink of default — sending global equities tumbling Monday as investors, who had previously ignored the situation, sat up and took notice. Fears of a bursting property bubble have long been a concern forRead More →
China’s crackdown on Bitcoin (BTC) mining and cryptocurrency trading recently became a primary driver for the red candlesticks on crypto market charts. But one Bitcoin mining engineer believes China’s ban on crypto is “fantastic news.” Brandon Arvanaghi, a former security engineer at crypto exchange Gemini, compared China’s harsh stanceRead More →
The cryptocurrency market has been viewed cautiously pending the launch of a central bank digital currency [CBDC], without knowing what its impact on a country might be. In recent months, many countries have taken a step towards understanding, regulating and launching their own CBDCs, Japan being one of them.Read More →
© Reuters. A HNA Group logo is seen on the building of HNA Plaza in Beijing By Gabriel Crossley and Zoey Zhang BEIJING (Reuters) – HNA Group has asked the government of China’s province of Hainan to lead a work group dedicated to resolving its increasing liquidity risks after aRead More →
China’s extraordinary economic growth over the past four decades transformed the country into the world’s second-biggest economy. The key to this growth is global trade. China is not only the largest trading partner in the world, but it is also central to a myriad of supply chains. From raw materialsRead More →
© Reuters. A traffic light is seen in front of a logo of General Electric at the company’s plant in Birr By Karen Freifeld and Alexandra Alper (Reuters) – The U.S. government is considering whether to stop General Electric (NYSE:) Co from continuing to supply engines for a new ChineseRead More →
BEIJING — China is considering possible countermeasures to cushion the blow from the coronavirus outbreak that is expected cause a temporary disruption to the economy, a central bank official said. “The coronavirus outbreak will be temporary and will not change the long-term improvement of China’s economy,” Pan Gongsheng, a viceRead More →
By Josh Horwitz and Muyu Xu SHANGHAI/BEIJING (Reuters) – The coronavirus is threatening to disrupt large parts of China’s manufacturing machine and its global supply chains as the spread of infection and strict public health measures force companies and workers to remain idle. China’s most important holiday was due toRead More →
‘Probably, the cat’s already out of the bag.’ Eric Toner, M.D. Scientist and scholar Eric Toner, quoted above in an excerpt from a Friday interview with the business-news channel CNBC, explained that China’s efforts to contain the current outbreak of a fast-moving upper-respiratory illness are “unlikely to be effective.” TheRead More →
U.S. equity markets have experienced muted trade in the past few sessions as investors keep one eye trained on a deadly flu outbreak in China, which could be declared a public health emergency by the World Health Organization within the next 24 hours. However, gauged by the market’s performance duringRead More →
BEIJING (Reuters) – Global pharmaceutical majors and generic drugmakers chopped by 53% on average prices of some of their off-patent products in the latest bidding round under China’s national bulk-buy program, government officials said late on Friday. Beijing has been pushing forward the program where drugmakers have to go throughRead More →
(Reuters) – China’s Geely Automobile Holding (HK:) held talks with Aston Martin (L:) management and investors as it considers investing into the British luxury carmaker, The Financial Times reported https://www.ft.com/content/d2959822-33a4-11ea-9703-eea0cae3f0de on Friday. Geely is conducting due diligence as it looks at taking a stake in the 107-year-old UK firm, whichRead More →
© Reuters. Passersby are reflected on a stock quotation board outside a brokerage in Tokyo By Andrew Galbraith SHANGHAI (Reuters) – Asian shares kicked off the new decade higher on Thursday, after global stocks ended the previous one at record highs, and buoyed by Chinese markets after Beijing eased monetaryRead More →
© Reuters. China’s largest potash producer fails in fifth bid to raise funds SHANGHAI (Reuters) – China state-owned Qinghai Salt Lake Potash Co, the country’s largest potash producer, failed to sell its assets in a fifth round of auctions on Wednesday aimed at raising funds and avoid being delisted fromRead More →
SHANGHAI (Reuters) – Chinese fintech company Ant Financial Services [ANTFIN.UL] and U.S. asset management firm The Vanguard Group have established a joint venture to provide retail investment advisory services in China, the companies said in a statement on Saturday. The announcement, which comes more than six months after the jointRead More →
Asian markets gained in early trading Monday following an unexpected jump in China’s manufacturing activity in November. China’s official manufacturing purchasing managers index came in at 50.2 in November, according to official data over the weekend, the first time it topped 50 since April. Economists polled by the Wall StreetRead More →
© Reuters. FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves By Brenda Goh SHANGHAI (Reuters) – Amazon.com Inc (NASDAQ:) on Monday said it will open a pop-up store on Chinese e-commerce platform Pinduoduo Inc that will run until the end of December andRead More →
(Bloomberg) — Chinese President Xi Jinping said his nation wants to work toward a phase one trade agreement with the U.S. on the “basis of mutual respect and equality,“ his first comments on a partial deal that he could potentially sign with President Donald Trump. “We didn’t initiate this tradeRead More →
© Reuters. A man sits next to a poster at the booth of plant-based food company Zhenmeat at VeggieWorld fair in Beijing By Pei Li and Brenda Goh BEIJING/SHANGHAI (Reuters) – U.S. plant-based “meat” makers targeting China like Impossible Foods and Beyond Meat (NASDAQ:) Inc will need to battle homegrownRead More →
SHANGHAI (Reuters) – China’s e-commerce giant Alibaba Group Holding (N:) said on Friday it would invest an additional 23.3 billion yuan ($3.33 billion) to raise its equity stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51%. The investment will go towards subscribing for newly issued CainiaoRead More →
WUZHEN, China (Reuters) – Chinese smartphone maker Xiaomi Corp plans to launch more than 10 5G phones in 2020, CEO Lei Jun said on Sunday, adding that the mobile phone industry was worried 4G models would not sell next year. Lei made the remarks at the World Internet Conference inRead More →
SHANGHAI (Reuters) – China’s indebted HNA Group has appointed its chairman’s son as president as part of business restructuring at the finance-to-aviation conglomerate, Chinese financial magazine Caixin reported on its website on Saturday. Chen Xiaofeng, son of HNA Chairman Chen Feng, has been appointed president of the group, replacing ZhangRead More →
(Reuters) – U.S. power company Sempra Energy (N:) said on Monday it would sell is Chilean businesses to China’s State Grid International Development Limited for $2.23 billion in cash. The deal includes Sempra’s 100% stake in Chilquinta Energía S.A., Tecnored S.A. and a 50% interest in Eletrans S.A. Reuters reportedRead More →
Apple has been accused of aiding Hong Kong protesters via an app that allegedly enables tracking of local law enforcement — representing the latest company ensnared in political tensions between the semiautonomous territory and China. An article published on state-run People’s Daily Online, the official newspaper of the Communist Party,Read More →
2/2 © Reuters. The Goldman Sachs company logo is seen in the company’s space on the floor of the NYSE in New York 2/2 By Joshua Franklin and Julie Zhu NEW YORK/HONG KONG (Reuters) – Goldman Sachs Group Inc (NYSE:) said on Tuesday it was reviewing its involvement in MegviiRead More →
