Page 2 - China Market Meltdown

Senior Nomura banker barred from exiting China amid investigations: Report

The travel restriction is linked to Wang's time at Industrial & Commercial Bank of China Ltd., where he worked before joining Nomura in 2018, according to the report

A holistic approach can grab space vacated by China in textile sector: SIMA

Textile and clothing sectors must have a holistic approach with a long-term vision to seize the opportunity in the global market, industry officials said on Saturday. Textiles and clothing industries are the second largest employment provider after agriculture generating Rs 30,000 crore as Goods and Services Tax revenue and USD 44 billion foreign exchange earnings, officials of Southern India Mills' Association said. The industries have been facing challenges in the recent past mainly due to structural issues on the raw material front, high cost of production, scale of operation among others, SIMA Chairman S K Sundararaman said. The Association would strive to address structural issues and enhance global competitiveness, he said. According to association officials, the NDA government has been giving major thrust for enhancing the global competitiveness of the textiles and clothing industry and addressed several issues. "However, the policy pitfalls in certain areas and delay in ..

Parents tell children there's no going back: Police on suicides in Kota

When she first moved to the Chinese tech hub of Shenzhen after graduating from college, Marguerite Wang imagined she would spend her career working hard in a big city. Instead, she's living with her parents in her hometown in north-eastern China. A record of more than one in five young Chinese are out of work, their career ambitions at least temporarily derailed by a depressed job market as the economy struggles to regain momentum after its long bout with COVID-19. Wang, who was laid off from a gaming company in December, is among an estimated 16 million young Chinese who, daunted by the difficulties of finding decent jobs, have moved back home. She asked that her English nickname be used out of concern that speaking to foreign media might hurt her job prospects. After spending six months unsuccessfully applying for jobs in Shenzhen, the 29-year-old did something she had never imagined doing: she asked to move back home. Now she spends her days watching soap operas and studying ...

Country Garden wins creditors' support to extend repayment of 7 yuan bonds

The firm has left much smaller payments go right up until final deadlines recently, including a combined $22.5 million in interest it paid in the final hours of grace periods ending Sept 5-6

China's arms exports facing decline due to defective quality: Analysts

According to the Stockholm International Peace Research Institute (SIPRI), China's arms shipments fell 7.8% between 2016 and 2020 when compared to the preceding five-year period

China property developers' shares, bonds dive as sector worries deepen

Doubts are growing any official support will be forthcoming, and investors do not expect any aid to be aimed at shareholders

China's exports tumble in May as global demand falters, imports fall

The poor export performance reflects weak demand for Chinese goods as does the weak import performance as China brings in parts and materials from abroad to assemble finished products for export

China's smartwatch shipments declined by 28% YoY; lowest in 3 years

Meanwhile, China's 'kids smartwatch' shipments decreased 31 per cent YoY. The country is the world's biggest kids smartwatch market

China's economic growth slumps to one of its worst in nearly 50 years

On a quarterly basis, GDP stalled, coming in at 0.0% in the fourth quarter, compared with growth of 3.9% in July-September

China markets start 2023 with a bang as Covid policy shift hastens

Beijing has pledged to expand fiscal spending as part of efforts to boost economic growth

China's soaring Covid-19 infections push economic activity off a cliff

Following the recent abrupt end to Covid Zero controls, more cities have been hit by an exit wave of infections in the past week, leading to crowded hospitals and queues at funeral parlors

China's factories lose momentum amid tsunami of Covid cases as curbs ease

Outbreaks have the potential to cripple production or tear through employee rosters, threatening the global supply of everything from cars and golf carts to kitchen appliances and, of course, iPhones

iPhone city maintains plant curbs as China tweaks Covid-19 approach

Foxconn's task of catching up on lost iPhone production time has been complicated by the lockdown, which triggered violent protests last week

China vows crackdown on ''hostile forces'' as public tests President Xi

China's ruling Communist Party has vowed to resolutely crack down on infiltration and sabotage activities by hostile forces, following the largest street demonstrations in decades staged by citizens fed up with strict anti-virus restrictions. The statement from the Central Political and Legal Affairs Commission released late on Tuesday comes amid a massive show of force by security services to deter a recurrence of the protests that broke out over the weekend in Beijing, Shanghai, Guangzhou and several other cities. While it did not directly address the protests, the statement serves as a reminder of the party's determination to enforce its rule. Hundreds of SUVs, vans and armoured vehicles with flashing lights were parked along city streets Wednesday while police and paramilitary forces conducted random ID checks and searched people's mobile phones for photos, banned apps or other potential evidence that they had taken part in the demonstrations. The number of people who have been

Covid protests escalate in Guangzhou as China lockdown anger boils

China's foreign ministry has said rights and freedoms must be exercised within the framework of the law

China's economic activity falls as Covid-19 cases surge to record

The economy is suffering increasing damage from tightened virus controls as Covid outbreaks spread in every province

Apple to lose 6 million iPhone Pros because of turmoil at China plant

Apple's shares fell 2.6% to $144.22 in New York on Monday, marking the biggest one-day drop in more than two weeks. They have declined 19% this year

China stocks roar back on reopening 'rumours'; oil price rises 1%

A gauge of Chinese stocks listed in Hong Kong surged almost 7 per cent intraday, rebounding from its lowest close since late 2005

China's trade falters as demand wanes at home, abroad amid rising inflation

China's exports and imports lost momentum in August with growth significantly missing forecasts as surging inflation crippled overseas demand and fresh COVID curbs and heatwaves disrupted output

Asia shares off to sluggish start, China data soft on Wall Street

Asian share markets got off to a slow start on Monday as disappointing Chinese economic data fed doubts last week's rally on Wall Street could be sustained in the face of determined policy tightening