A number of Chinese cities, including the four tier-one cities have moved to lower home mortgage rates after the central bank lowered five-year benchmark lending rate last week to support the property market and boost the sluggish economy.
Chinese electric vehicle maker Xpeng Motors reported a revenue of 7.45 billion yuan for the first quarter of the year, surging 152.6% from 2.95 billion yuan in the same period last year, compared to market expectations of 7.37 billion yuan.
The onshore yuan strengthens by more than 400 pips from intraday low to hit 6.6501 per US dollar. The offshore yuan strengthens by more than 300 pips to approach 6.66 per dollar mark.
The US Securities and Exchange Commission (SEC) added another eight Chinese companies to its list of entities facing possible expulsion from American exchanges.
China will encourage qualified digital cultural companies to go public in a move to promote the digitalization in the cultural sector, according to guidelines issued by the General Office of the Communist Party of China (CPC) Central Committee and the State Council.
Banks in China’s capital city of Beijing and the financial hub of Shanghai have lowered home mortgage rates after the central bank cut benchmark lending rate on Friday.
Chinese property developer Jiayuan International said that a total of 1.348 million shares in the company were forcibly sold by a securities company on Friday when the stocks tumbled more than 41% before the trading was suspended.
The PBOC raised the yuan’s fixing by 731 pips to 6.6756 per US dollar on Monday, compared to a fixing of 6.7487 in the previous trading day.
Hong Kong stocks open lower on Monday, with the benchmark Hang Seng Index down 0.52%, the Hang Seng China Enterprises Index down 0.54%, and the Hang Seng Tech Index down 0.96%.
China’s benchmark iron ore futures contract surged more than 6% on Monday boosted by India’s latest move to hike tariffs on iron ore exports.
The Wuhan Economic and Technological Development Zone in Central China’s Hubei Province has deleted a statement on social media Weibo saying that home purchase restrictions have been removed the the zone.
Apple Inc has told some of its contract manufacturers that it wants to increase production outside China, the Wall Street Journal reported, citing people familiar with the matter.
Chinese Premier Li Keqiang said that China’s resolve to open up to the outside world will not change, and the country will continue to build itself into a big market and a hot destination for foreign investment.
As of May 19, Tesla’s Shanghai plant has seen a total of 26,000 vehicles roll off the production line since operations resumed a month ago, according to an article released by China’s Ministry of Industry and Information Technology on its official WeChat account.
Chinese internet giant Tencent abolished six sports business units, including the soccer and basketball operations group due to changes in the external market environment and a necessary business reorganization, The Paper reported, citing an internal company notice.
Four companies including Semiconductor Manufacturing International Corporation, China Hongqiao, Zhongsheng Group Holdings Ltd, Orient Overseas Container Line and China Hongqiao Group Limited will be added to the Hang Seng Index, announced Hang Seng Indexes Company.
Several large state-owned banks’ branches in the city of Tianjin have lowered the home mortgage rate for first-time home buyers after the central bank cut the five-year benchmark lending rate on Friday.
The Chinese Embassy in Canada vowed to take all necessary measures to protect Chinese firms’ legitimate rights and interests, after Canada revealed plans to ban use of 5G gear from Huawei and ZTE on national security grounds.
Goldman Sachs said on Friday it now expects around one third of high-yield China property firms to default in 2022, with stresses on bonds increasingly emerging through maturity extensions.
UBS cut the forecast of Tencent’s 2Q22 revenue by 3.3% to 139 billion yuan which would be 0.5% higher year over year.
China’s crude oil imports from top supplier Saudi Arabia soared 38% in April from a year earlier to 8.93 million tonnes, hitting the highest monthly volume since May 2020, according to data from the Chinese General Administration of Customs.
US President Joe Biden may talk with his Chinese counterpart Xi Jinping in the coming weeks, US national security adviser Jake Sullivan said on Thursday.
The World Health Organization said Thursday that it has granted an emergency use authorization for the coronavirus vaccine made by China’s CanSino Biologics, the 11th such shot to receive the green light.
