Explore Business Standard
China
Overseas companies having Chinese shareholding of up to 10 per cent will be eligible to invest in India under the automatic route across sectors; however, the relaxed FDI norms will not apply to entities registered in China/Hong Kong or other countries sharing land borders with India, a senior official said on Wednesday. Earlier, foreign firms with shareholders from these land border nations owning even a single share had to seek mandatory approval to invest in India in any sector. The Union Cabinet on March 10 made changes in the press note 3 of 2020 in this regard. Under the press note, investors from countries sharing land borders with India had to seek mandatory approval to invest in any sector. "All the restrictions for investors from land bordering countries (LBCs) are still applicable. There is no relaxation so far as entities or investors in LBCs are concerned. This relaxation is only for entities in non-LBCs and having beneficial owners from LBCs below 10 per cent and ...
China's domestic passenger car sales fell 34.2% in February from a year earlier, an industry association said Wednesday, reflecting weakening demand as some trade-in subsidies are phased out. Only 950,000 units of passenger cars were sold in China last month, according to the China Association of Automobile Manufacturers, down from nearly 1.4 million vehicles sold in January. Overall passenger car sales including exports dropped 15.4% year-on-year, even as shipments overseas jumped 58% to 586,000, highlighting the challenges for Chinese carmakers trying to offset sluggish domestic sales by expanding into foreign markets. Automakers have been struggling with weak demand as the government has been phasing out trade-in subsidies to encourage purchases of electric vehicles. Chinese consumers have also been steering clear of big purchases, feeling a pinch from a slowing economy and protracted property slump. The Lunar New Year festival, China's biggest holiday, took place in February, .
The government on Tuesday eased norms for foreign direct investment from all countries, including China, that share land borders with India, sources said. They said press note 3 of 2020 has been amended in this regard. The decision was taken in a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. Under this press note, foreign companies having shareholders from these countries required mandatory government approval for investments in India in any sector. Countries that share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan. China stands at the 23rd position with only 0.32 per cent share (USD 2.51 billion) in the total FDI equity inflow reported in India from April 2000 to December 2025. Ties between the two countries nosedived significantly following the fierce clash in Galwan Valley in June 2020 that marked the most serious military conflict between the two sides in decades. Following these tensions, India banne
Two major economic plans unveiled at the annual meeting of China's legislature outline top priorities that have different ramifications for the global economy. In the government plan for 2026, the No. 1 task is "building a robust domestic market". Then comes accelerating technological progress. But longer-term, a plan for the next five years, gives more prominence to achieving advances in tech. The subtle difference highlights the government's balancing act. Its overarching goal is to transform from a low-cost manufacturing to a tech-driven economy. But a more immediate concern is dealing with a prolonged period of sluggishness that has depressed consumer and business confidence. China is such a large exporter that the choices it makes affect countries and jobs around the world. The plans, presented at the recent opening of the National People's Congress, offer a window into the government's thinking. They are set to be formally endorsed by the rubber-stamp legislature at the end o
China on Sunday rejected the G2 concept of global co-governance between Beijing and Washington, saying that managing international affairs requires the collective efforts of all nations. Last year, US President Donald Trump described the meeting with his Chinese counterpart Xi Jinping in South Korea as a "G2 meeting", saying the two countries could work together for their benefit and that of the world. Asked whether China will accept the G2 or Group of Two framework to address global challenges, Foreign Minister Wang Yi said Beijing does not agree with the logic of co-governance by major powers. China will not tread the old path of "seeking hegemony when one becomes strong", Wang said during his annual press conference here. His comments came ahead of Trump's planned visit to China from March 31 to April 2, which would be the first trip to the country by a sitting US president since 2017. However, the US war on Iran cast a shadow over the proposed visit. China has not officially .
India and China should view each other as "partners, not rivals" and "opportunity instead of threat", Chinese Foreign Minister Wang Yi said here on Sunday. Wang, at his annual press conference on the sidelines of the Chinese parliament, the National People's Congress (NPC), said both countries should stick to the direction set by Prime Minister Narendra Modi and President Xi Jinping to improve relations without interference. Modi and Xi had a successful meeting in Tianjin last August, Wang said. "Building on the fresh start enabled by their Kazan meeting in 2024, the Tianjin summit brought about further improvement in China-India relations," he added. "We are heartened to see re-energised interactions at all levels, a new record in bilateral trade, and closer people-to-people exchanges. All this has brought tangible benefits to the two peoples," he said. On the future course of the ties, Wang said both countries "must maintain the correct strategic perception of each other as partn
The US imposed travel bans on three Chilean officials over the possible construction of a submarine fiber optic cable with China, while warning Peru against ceding control over a Chinese-built mega port. Under pressure from President Donald Trump, who had threatened to take the Panama Canal back under US control, the Panamanian government seized two ports at either end of the canal that had been run by a Hong Kong company. And when the US captured Venezuela's then-President Nicolas Maduro in January, China saw its extensive interests in the oil-rich country suddenly vulnerable. The Trump administration in recent weeks has taken forceful steps in one Latin American country after another aimed at curbing the influence and economic dominance of China. As part of his quest to restore US preeminence in the Western Hemisphere, the president is hosting Latin American leaders at his golf resort near Miami this weekend for a summit dubbed the "Shield of Americas." Supporters of the White Ho
Hong Kong pro-democracy ex-publisher Jimmy Lai will not appeal the national security conviction for which he was sentenced to 20 years in prison last month, his legal team said Friday. Lai, an outspoken critic of China's ruling Communist Party who founded the now-defunct Apple Daily, was found guilty in December of conspiracy to collude with foreign forces and conspiring with others to publish seditious articles. His legal team told The Associated Press via a text message about the decision, which ends a yearslong legal battle. The lawyers would not comment on the reason for not appealing. Observers say his conviction reflected the decline of press and other freedoms that has changed Hong Kong, a former British colony that returned to China's control in 1997. The government insists the case has nothing to do with a free press, saying the defendants used news reporting as a pretext for years to commit acts that harmed China and Hong Kong. Lai was one of the first prominent figures t
A glimpse of what the future of flying taxis might look like can be seen in this southeastern Chinese city. In a hangar in Kunshan, more than 60 kilometres (about 37 miles) west of the port of Shanghai, a sort of gigantic drone was preparing for a demonstration. Called the Matrix, it's a 5-ton electric vertical takeoff and landing vehicle, or eVTOL, considered the largest electric aircraft built so far, at least in China. The Chinese company AutoFlight, founded in 2017, developed the Matrix, which can carry up to 10 passengers. It has a 20-metre (about 66-foot) wingspan, and is 17.1 metres long and 3.3 metres tall. (56 feet long and 11 feet tall). It can travel for an hour without charging. The idea is that eventually it could become a flying taxi, although the industry and experts think it will take some time. On a recent chilly afternoon, AutoFlight conducted a flying demonstration for The Associated Press at its low-altitude flight test facility. Staff moved the Matrix from a .