Page 163 - China

China tightens some trading restrictions for domestic, offshore investors

Some quantitative hedge funds meanwhile were banned from placing sell orders completely starting Monday, while others were barred from cutting stock positions in their leveraged market-neutral funds

China markets regulator to protect small investors as stocks hit 5 yr lows

Chinese shares gyrated on Monday, sinking to 5-year lows, after stock market regulators sought to reassure jittery investors with a promise to crack down on stock price manipulation and malicious short selling. Shares in Shanghai and the smaller market in Shenzhen, near Hong Kong, swung between big losses and small gains throughout the day. The markets have languished on heavy selling of property shares that have suffered with a slump in the real estate market. Market observers said there were signs the authorities had, as is often the case, ordered big institutional investors to step up buying of state-owned banks and other heavyweights. The Industrial & Commercial Bank of China gained 2.3%, Bank of China was up 2.6% and the Agricultural Bank of China rose 2.2%. But shares still mostly lost ground. The Shenzhen Component index lost 1.1% after dipping as much as 4.4%. The Shanghai Composite index shed 1% to 2,702.19, having lost 3.5% earlier. Wilder swings were seen in the CSI ...

Indian pharma industry relies heavily on ingredients made in China: Report

America's reliance on China for drug ingredients has raised alarm bells in Congress. House committees will hold two hearings Tuesday on drug shortages

China displaces India as largest tourism market for Maldives amid row

Amidst a diplomatic row between the Maldives and India, Chinese tourists have overtaken Indian holidaymakers visiting the archipelago nation, according to official figures released here on Monday. According to official statistics from the Maldivian Ministry of Tourism, as of February 4, China, with 23,972 tourists occupied the number one slot (11.2 per cent market share in 2024); it was on the number three spot in 2023. India, which was on the number 1 slot in 2023, has slipped down to 5th position as of Sunday with 16,536 tourists (7.7 per cent market share in 2024) coming to this island nation. The development could be a fallout of a full-blown backlash directed at the Maldives following the derogatory remarks against India and Prime Minister Narendra Modi on social media by three Maldivian ministers after Modi posted photos and video on X of his visit to the pristine Lakshadweep Islands on India's west coast earlier in January. Soon after the remarks against Modi went viral, ...

Deepfake video scams multinational company out of $26 million: Report

The swindlers fabricated representations of the firm's CFO and other people in the call using public footage and convinced the victim to make 15 transfers to five accounts

IMF predicts China to witness economic decline over next 4 years: Report

In a report released on Friday, the IMF projected that China's economic growth will reduce to 4.6 per cent this year, down from its 5.2 per cent growth in 2023

Apple's China slump deepens even as total iPhone sales grow again

Sales in China dropped 13 per cent to $20.8 billion in the fiscal first quarter, which ended December 30, the company said on Thursday. That fell far short of the $23.5 billion predicted by analysts

Alibaba considers sale of consumer assets including Freshippo, RT-Mart

Alibaba announced a plan in March to split into six units and explore fundraisings or listings for most of them. It has since filed a Hong Kong listing application for the logistics arm Cainiao in Sep

Thailand airport operator expects 8 million Chinese visitors this year

The announcement comes after the two countries mutually waived visa entry requirements for their nationals effective in March. Thailand removed visa requirements for Chinese late last year

China's factory activity expands on export order boost, shows survey

The export index may have been affected by the Lunar New Year which will fall on Feb. 10 this year, as factories and workers geared up for the pre-holiday shipment of goods

TikTok CEO Shou Chew grilled by US lawmakers regarding China connections

The grilling was held at a dramatic Senate Judiciary Committee hearing of the CEOs of major tech companies, who faced intense scrutiny over the potential harms of their platforms on teens

US companies turning more optimistic in China outlook, shows survey

Still, 43 per cent of surveyed AmCham members indicated they don't plan to expand their investments this year, and another 5 per cent planned to cut the spending

China unveils property support measures amid Evergrande fallout concerns

The latest measures add to a string of policies deployed by the world's second-largest economy over the past year to help revive the property sector, which accounts for a quarter of China's GDP

China merges hundreds of rural banks amid looming financial crisis

After engineering mergers of rural cooperatives and rural commercial banks in at least seven provinces since 2022

Reached mutual visa cooperation deal with Maldives to boost tourism: China

China on Wednesday said it has worked out a comprehensive mutual visa cooperation agreement with 23 countries, including the Maldives amid Maldivian President Mohamed Muizzu's efforts to woo more Chinese tourists to the Indian Ocean island nation. Beijing is currently trying to work out either visa-free or liberalising visa procedures with various countries to boost the declining number of international tourists to China and to enable its citizens to travel abroad more freely. China's visa-free 'circle of friends' continues to expand, and more and more countries have officially entered the 'visa-free era'," Foreign Ministry spokesman Wang Wenbin told the media here. He said that so far China has concluded mutual visa exemption agreements covering different passports with 157 countries. So far, China has concluded mutual visa exemption agreements covering different passports with 157 countries, reached agreements or arrangements on simplified visa procedures with 44 countries, and .

Chinese hackers determined to wreak havoc on US critical infra: FBI

Chinese government hackers are busily targeting water treatment plants, the electrical grid, transportation systems and other critical infrastructure inside the United States, FBI Director Chris Wray will tell House lawmakers on Wednesday in a fresh warning from Washington about Beijing's global ambitions. Wray will say that that there's been far too little public focus on a cyber threat that affects every American, according to a copy of prepared remarks that he is to give before the House Select Committee on the Chinese Communist Party. China's hackers are positioning on American infrastructure in preparation to wreak havoc and cause real-world harm to American citizens and communities, if or when China decides the time has come to strike, Wray will say. The comments align with assessments from outside cybersecurity firms including Microsoft, which said in May that state-backed Chinese hackers have been targeting US critical infrastructure and could be laying the technical ...

Taiwan holds military drills to defend against threat of Chinese invasion

Almost every day, Chinese warships sail in waters around Taiwan and warplanes fly toward the island before turning back. What if they suddenly attacked? Taiwan's military began a two-day drill at sea and in the air on Wednesday to practice defending against such a surprise attack. Journalists observed the training from fast boats that escorted a mine-laying ship. Any unilateral irrational action could very easily escalate tensions and sabotage stability in the Taiwan Strait region, Maj. Gen. Sun Li-fang, a defence ministry spokesperson, told reporters at the Tsuoying Naval Base in southern Taiwan. China claims the self-governing island of 23 million people as its own territory and says it must come under Beijing's control. The long-running divide is a flashpoint in US-China relations. As relations between the rivals have deteriorated in recent years, fears have grown that America could get pulled into a war if hostilities break out. Taiwan's defence ministry, in a daily report, sa

Evergrande creditors to recover just fraction of debt after liquidation

Almost all of Evergrande's assets are in mainland China, presenting legal hurdles for non-Chinese administrators

Questions on China

Evergrande liquidation would be keenly watched

Crude oil edges lower on China worries as tensions fester in West Asia

Brent crude futures dipped 23 cents to $83.32 a barrel by 0937 GMT while U.S. West Texas Intermediate crude futures edged down by 27 cents to $77.74