Category: China
-
People’s Bank of China rate cuts are expected today: LPRs, repo
•
The People’s Bank of China is expected to cut its key reverse repo rate today, along with its key lending rates. The Fed’s rate cut this week is expected to pave the way for PBOC cuts. The People’s Bank of China has turned to the 7-day repo rate as the…
-
BYD now owns 100% of Denza – a Mercedes JV in China (Pink Current Info:BYDDF)
•
BYD (OTCPK:BYDDF) has taken full control of its joint venture with Mercedes-Benz (OTCPK:MBGAF) in China by buying the remaining 10% stake in Shenzhen Denza New Energy Automotive, according to Knife Post mail. The acquisition was completed on September 14, 2024, and will be followed by the acquisition by BYD (OTCPK:BYDDF).)…
-
PwC invests in ‘high quality’ business in China after record fine, internal memo says By Reuters
•
Written by Shi Yu HONG KONG (Reuters) – PwC said it is making “concrete investments” to ensure the Big Four firms have high-quality and sustainable business in China, after Chinese regulators on Friday imposed a record penalty on the firm’s mainland unit. PwC Zhong Tian LLP was suspended for six…
-
Asian Stocks Swing as China Data Offset Fed Bets: Markets Wrap
•
Breadcrumbs Path Links PMN Business Asian stocks moved between losses and gains on Monday, as expectations of a rate cut by the US Federal Reserve receded due to signs of continued stagnation in the Chinese economy. Article author: Bloomberg News Catherine Bosley Published on September 15, 2024 • Last updated…
-
China EV – What are investors focused on? By Investing.com
•
Investing.com – After China’s electric vehicle sector weathered a tough period, investor sentiment is shifting. As the industry enters its traditional peak season, there is a renewed sense of optimism driven by a combination of macroeconomic factors, emerging industry trends, and strategic moves made by key players. “Market sentiment showed…
-
China August: Retail sales +2.1% y/y (expected +2.5) Industrial production +4.5% y/y (4.8)
•
China’s August 2024 retail sales, industrial production and investment data – another round of disappointing results. Retail Sales +2.1% (YoY) (Aug) Expected 2.5%, previous 2.7% Industrial Production +4.5% (YoY) (Aug) Expected 4.8%, previous 5.1% Fixed Asset Investment +$3.4 (YTD) (YoY) (Aug) Expected 3.5%, previous 3.6% Unemployment rate 5.3% Expected 5.2%,…
-
US House passes bill targeting China that would limit EV tax credits By Reuters
•
By David Shepardson WASHINGTON (Reuters) – The U.S. House of Representatives narrowly approved legislation on Thursday to tighten rules limiting Chinese content in vehicles eligible for U.S. electric vehicle tax credits. The House voted 217-192 to approve the bill, which has not been taken up in the Senate, to tighten…
-
China reportedly to cut interest rates on $5 trillion mortgages as soon as this month
•
This is mainly aimed at further lowering borrowing costs and trying to boost consumption activity. China’s domestic demand conditions have suffered greatly since the outbreak of the Covid-19 pandemic and there has been no significant recovery in this area despite the world returning to normal. The report says some banks…
-
Detained China banker’s wealth drops $750M amid Beijing crackdown
•
In the boom years when China produced billionaires Every two daysBanking money maker Bao Fan almost achieved this feat himself. His skill in advising tech giants like Alibaba Group Holding Ltd. has made him one of the country’s most sought-after financiers, helping him amass a fortune worth more than $800…
-
China records ¥649.34 billion trade surplus in August
•
High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
-
A lighter US economic calendar is a chance to focus on China woes
•
Xi Jinping The Federal Reserve is entering a blackout period even after the FOMC decision, and the US economic calendar is light today, with only wholesale inventories and employment trends. This will give the market a chance to catch its breath after a hectic week at the start of the…
-
China Renaissance shares plunge after 17-month suspension, former chairman’s detention By Reuters
•
HONG KONG (Reuters) – Shares of small investment bank China Renaissance plunged as much as 72 percent to an all-time low on Monday when it resumed trading 17 months after being suspended during an investigation into then-chairman and chief executive Bao Fan. Trading was suspended on April 3, 2023, due…
-
China Renaissance shares plunge after 17-month suspension, former chairman’s detention By Reuters
•
HONG KONG (Reuters) – Shares of small investment bank China Renaissance plunged as much as 72 percent to an all-time low on Monday when it resumed trading 17 months after being suspended during an investigation into then-chairman and chief executive Bao Fan. Trading was suspended on April 3, 2023, due…
-
China Deflation Risk Grows as Signs of Economic Weakness Mount
•
Breadcrumbs Path Links PMN Business China’s core inflation slowed to its lowest in more than three years, adding to signs that policymakers are struggling to stimulate household spending and putting further pressure on the annual growth target. Article author: Bloomberg News Bloomberg News Published on September 8, 2024 • Read…
-
Newsquawk Week Ahead: Highlights include China & US CPI, ECB rate decision, UK GDP
•
MondayApple iPhone Event; Japan Revised GDP (Q2), China CPI (Aug), EasySentix (September), US Employment Trends (Aug) Tuesday: US Energy Information Administration report, OPEC August report; Australian business confidence (Aug), German final CPI (Aug), UK unemployment/wage rate (July), Swedish GDP (July), Norwegian CPI (Aug), US non-oil CPI (Aug), China trade balance,…
-
China says “dissatisfied” with new Dutch export controls on ASML chipmaking tools By Reuters
•
BEIJING (Reuters) – China is “not satisfied” with the Dutch government’s decision to expand export controls on chipmaking equipment from ASML, the commerce ministry said in a statement on Sunday. The Dutch government said on Friday it will expand export licensing requirements for ASML’s DUV (deep ultraviolet) 1970i and 1980i…
-
Singapore’s Oil Party Spoiled by Falling Prices and China Gloom
•
Breadcrumbs Path Links PMN Business The oil party isn’t over yet – but for the top traders and executives gathering for talks and cocktails on rooftops in Singapore this week, the euphoria that came with the huge profits of recent years is fast fading. Article author: Bloomberg News Serene Cheung…
-
China stops short of Africa debt relief as pledges more cash By Reuters
•
By Duncan Merry and Laurie Chen NAIROBI/BEIJING (Reuters) – China declined to provide debt relief sought by several African countries this week, but pledged 360 billion yuan ($50.7 billion) over three years in credit lines and investments. Launched in 2000, the Forum on China-Africa Cooperation (FOCAC) has taken on an…
-
China creates $230 billion brokerage powerhouse as consolidation gathers pace By Reuters
•
HONG KONG (Reuters) – A merger of two state-backed brokerages in China to create a sector leader with $230 billion in assets is part of Beijing’s drive to consolidate the $1.7 trillion industry amid tough markets and is set to gain momentum, analysts said. Shanghai-based Guotai Juan Securities will acquire…
-
Exclusive-US warns against Nippon merger with US Steel, citing China steel glut By Reuters
•
Written by Alexandra Alper WASHINGTON (Reuters) – Nippon Steel Corp.’s proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt steel supplies needed for vital transportation, construction and agricultural projects, the United States said in a letter to the companies seen by Reuters. The…