China’s Evergrande chairman seeks to reassure investors
China Evergrande’s chairman said that they will make it a top priority to help wealth investors to redeem their products. This is as the investors await a key deadline for a dollar-bond coupon payment. Hui Ka Yan said that the company was striving to ensure quality delivery of properties. He insisted on the importance to […]
Market impact from Evergrande debt woes
HSBC Holdings PLC CEO says that they are expecting the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets. But there is no direct impact on the bank seen by them. Noel Quinn said at a Bank of America conference that he would be naive to think that […]
China’s pledge to cut project finance is the new normal for coal
Australia and Indonesia are the world’s biggest coal exporters. They are now facing an accelerated decline in the global demand for their coal shipments. This is after China said that they would stop building coal-fired power plants overseas. Chinese President Xi Jinping announced their new move at the United Nations General Assembly. This has prompted […]
U.S blocks Chinese acquisitions of global tech firms
Chinese state-backed tabloid the Global Times called U.S. efforts to block cross-border acquisitions of tech companies a “red flag” that impedes China’s tech sector. And also, disrupts the growth of the global tech sector. People’s Daily, China’s official newspaper for the ruling Communist Party published an outlet, in which they had argued a recent attempt […]
China signals crackdown on privacy, data, anti-trust to go on
China will draft new laws on national security, technology innovation, monopolies and education, as well as in areas involving foreigners. The announcement signals that a crackdown on industry with regard to privacy, data management, antitrust, and other issues will persist on through the year. The Chinese Communist Party and the government said in a blueprint […]
China’s July new yuan loans expected to nearly halve from June
China’s new yuan loans are expected to fall back in July after record lending in the first six months. But are still likely to be higher than a year earlier, because the central bank seeks to underpin the country’s economic recovery. Chinese banks are estimated to have issued 1.20 trillion yuan in net new yuan […]
Apple works with Chinese suppliers for latest iPhones
Japan’s Nikkei newspaper said that Apple Inc is working with more Chinese suppliers to produce its latest iPhones. This is as a tech feud stemming from a trade war with the United States prompts Beijing to strengthen domestic firms. The iPhone maker has warned of supply shortages as the U.S.-China trade tensions. The pandemic has […]
China jitters lift haven currencies; dollar awaits Fed
The dollar was pinned below recent highs by a decline in real yields and by trepidation ahead of a Federal Reserve meeting. In the meanwhile, other safe-haven currencies were in favour following an unnerving plunge in Chinese equity markets. The Japanese yen rose about 0.5% on the dollar overnight. The Chinese yuan teetered near a […]
China to launch high stakes crewed mission to space
China had sent three astronauts into orbit in a high-stakes mission. In that the first of four crewed space flights to complete the country’s space station by the end of next year. China will launch Nie Haisheng, Liu Boming and Tang Hongbo into orbit aboard the spacecraft Shenzhou-12 at 9:22 a.m. (0122 GMT) on June […]
Exclusive Tesla supplier Catl plans a major battery plant in Shanghai
China’s CATL is planning a major new automotive battery plant in Shanghai. Continuing a blistering pace of expansion that will cement its lead as the world’s No.1 supplier. The factory in Shanghai will put it close to Tesla Inc’s Chinese production base after it began supplying batteries for the U.S. automaker’s Model 3 cars in China last […]