BMW to Take Control of China JV in $4 Billion Deal
BMW will pay €3.6bn to increase its stake in a Chinese joint venture to 75 per cent by 2022, following Beijing’s relaxation of investment restrictions in the automotive sector, which….
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Hong Kong stocks bounced, Tencent posts biggest one-day rise in three years
The Hang Seng index surged 2.1 per cent to close at, the best one-day performance in three years, after a 4 per cent slump. The Hang Seng China Enterprises index….
Chinese stocks slumped 7.6 in one week amid global selloff
China saw a major stock market meltdown in the first week after the Golden Week holiday amid a global selloff. The benchmark Shanghai Composite slumped 7.6 per cent in the….
China copper ore imports hit record high, soybean imports drop in Sep
China imported 15 million tonnes copper ores in the first nine months, up 19.5 per cent from a year earlier, accelerating from a 17.9 per cent growth for the first….
China’s exports surged expectedly in Sep, posted record high trade surplus with US
China surprised the market with a robust growth in exports and posted a record trade surplus with the US amid an escalating trade dispute between the world’s two largest economies…..
China’s Finance Ministry sold $3 bln sovereign bonds in Hong Kong
The Chinese Finance Ministry issued $ 3 billion sovereign bonds and 5 billion yuan of dim sum bonds in upsized sales in Hong Kong on Thursday, at a time of heightened….
Chinese stocks tumbled amid global selloff
Chinese stocks see a selloff on Thursday after US stocks plunged overnight. The Shanghai Composite slumped 5.2 per cent to close at 2583, breaking through the four-year suppot level of 2638….
PBOC Governor Yi Gang says China’s debt level stabilised, 2018 GDP target can be achieved
China’s debt level has stabilised and China’s 2018 growth target can be achieved, said the People’s Bank of China (PBOC) Governor Yi Gang in an interview with Chinese news media….
Finance Ministry sells $650 million in Dim Sum bonds in Hong Kong
China’s Ministry of Finance has announced the sale of 4.5 billion yuan in dim sum bonds in Hong Kong on Wednesday, including 1.5 billion yuan in five-year bonds with a yield….
China accelerates scaling back from subsidy for shantytown redevelopment
China’s top policy makers said they will scrap cash subsidies for new projects to tear down and redevelop shantytowns in cities with low housing inventory and hot property markets, a….
PBOC MLF balance hit new record high, RRR cut more about structural rebalancing
The People’s Bank of China announced that it will lower the reserve requirement ratio (RRR) by 100bp for most banks, and it will release about 1.2 trillion yuan liquidity, including 450….
Huawei unveiled new AI chips
Chinese tech heavyweight Huawei Technologies Co Ltd unveiled a slate of artificial intelligence chips on Wednesday, in its biggest-ever push to expand presence in the semiconductor sector and to compete….
Daimler, Geely reportedly to create ride-hailing joint venture in China
German car maker Daimler AG is in talks with Zhejiang Geely Holding Group Co to set up a 50-50 ride-hailing and car-sharing joint venture in China, which, if it works,….
Tencent lower for eighth straight day, market cap dropping out of world’s top ten
Chinese tech giant Tencent extended losses by 1.7 per cent on Tuesday to close at HK$293.8 after breaking through the key psychological line of HK$300 one day earlier, declining for….
Chinese small stocks hit four-year low, overseas funds flowing out for the 2nd straight day
Pessimism still grasp the stock market in China and overseas investors are rushing away for the second day in a row. The Shanghai Composite index edged up about 0.2 per….
Chinese stocks see biggest selloff in three months
Chinese stocks post the worst performance in three months on the first trading day after the week-long Golden Week holiday, putting them on course for their worst performance for the….
China saw retail sales and tourism revenue slow during Golden Week
China saw tourism growth slip to the lowest in 10 years and the growth of retail sales drop below 10 per cent during the Golden Week holiday, as a slowdown….
Warm up for the first trading day after the Golden Week
China cut reserve requirements for banks for the 4th time this year China’s central bank said on Sunday it would cut the amount of cash that commercial banks must hold….
China’s foreign exchange reserves fell for 2nd straight month
China’s foreign exchange reserves decreased by $22.7 billion in September to $3.09 trillion, the biggest drop since February, according to data released by the People’s Bank of China on Sunday…..
PBOC sold first yuan bills in Hong Kong
The People’s Bank of China (PBOC) sold its first yuan-denominated bills in Hong Kong on Wednesday, raising 20 billion yuan and giving it a new tool to manage the currency….
PBOC cut banks’ reserve requirement for the 4th time in 2018
China’s central bank said on Sunday it would cut the amount of cash that some banks must hold as reserve to lower financing costs and spur growth in the world’s….
US Vice President: China ‘Meddling in America’s Democracy’
The administration of U.S. President Donald Trump is accusing China of trying to undermine it by targeting the American political system. “China wants a different American president,” Vice President Mike….
US Secretary of State Mike Pompeo to visit China on Monday
US Secretary of State Mike Pompeo will travel to China next Monday (Oct 8), Chinese State Television reported on Wednesday, citing a Chinese Foreign Ministry spokesman, with the two countries embroiled….
Tencent’s online music unit files for US listing
Tencent’s music division is set to go public with actual profits on the board and industry competitor Spotify as a backer, according to a newly filed prospectus. The music arm….
Savings culture is fading—China saw growth of savings hit slowest in 40 years
China’s total savings in financial institutions increased by 8.3 per cent year in August from a year earlier, the slowest growth in 40 years, according to data released by the….
Cash is the king again—China’s real estate sector shivers after top developer Vanke warns over survival
China Vanke, one of the biggest property developer in the country, made a headline over the weekend after it put “survival” as the keyword for its autumn meeting on Saturday,….
Jack Ma relinquishes ownership of Alibaba’s legal structures – FT and WSJ
Alibaba’s founder Jack Ma has quietly relinquished his ownership of the “variable interest entities” at the heart of Alibaba, symbolically handing back the keys to the Chinese technology giant he….
Golden Sept not golden any more, China’s home sales sliding in usual peak season
China’s prolonged restrictions on the real estate sector is driving the property market to a turing point. Prospective buyers have switched on a wait-and-see mode, sending home sales slide even….
China to cut import tariffs on wide range of products
China will cut import tariffs on textile products and metals, including steel products, to 8.4 per cent from 11.5 percent, effective Nov. 1, the finance ministry said on Sunday. Beijing….
China hikes 2019 non-state oil import quota as private refiners expand
China has hiked its 2019 crude oil import quota for “non-state trade”, generally meaning independent refiners, by 42 per cent to 202 million tonnes, as two private companies prepare to….