Tag Archives: Chinas

(Bloomberg) — China’s semiconductor industry is showing signs of flourishing even in the face of Biden administration efforts to counter its growth, raising alarm bells in Washington. Most Read from Bloomberg Chinese orders for chip-manufacturing equipment from overseas suppliers rose 58% in 2021, making it the biggest market for those products for a second year running, according to data provided by industry body Semi. While those figures appeared in April, the flood of machinery headed to… Source link

Live-streaming e-commerce star Li Jiaqi touted a tank-shaped ice cream in an online sales pitch, a day before the anniversary of the Tiananmen Square Massacre.AP, Getty Images A Chinese influencer may have unwittingly introduced his fans to the 1989 Tiananmen Square Massacre. Li Jiaqi touted a tank-shaped ice cream online, a day before the event’s 33rd anniversary. Almost immediately, Li’s show was taken off-air, sparking a wave of curiosity from his fans. One of China’s biggest influencers may… Source link

WASHINGTON, May 26 (Reuters) – Republican Senators want to bar U.S. app stores including Apple and Google from hosting apps that allow payments to be made with China’s digital currency, according to a copy of proposed legislation seen by Reuters, amid fears the payment system could allow Beijing to spy on Americans. The bill to be unveiled on Thursday by Senators Tom Cotton, Marco Rubio and Mike Braun states that companies that own or control app stores “shall not carry or support any app in… Source link

U.S. stock futures declined Monday morning following global equities lower, as concerns over an escalating COVID outbreak in China added to jitters over U.S. economic growth in the face of heightened inflation and monetary policy tightening. Contracts on the S&P 500 fell by nearly 1% ahead of the opening bell, as the index looked to add to last week’s losses. The Dow and Nasdaq each also headed for lower opens. U.S. Treasury yields dropped, and the benchmark 10-year yield hovered just above… Source link

China’s strict COVID-19 lockdowns will exacerbate global supply chain woes and add to inflation in the coming months, experts say. President Xi Jinping’s zero-COVID policy is being tested as the country struggles to tame its worst virus outbreak yet. Frustration is rising over food shortages, people being locked down in their homes for weeks, and a policy of killing pet dogs suspected of being infected with COVID. While China’s tech hub Shenzhen has emerged from its nearly month-long… Source link

(Bloomberg) — It’s been a painful week for traders of China’s stocks, bonds and currency as growing fears about the fallout from the nation’s Covid Zero strategy send markets tumbling. Most Read from Bloomberg The Hang Seng China Enterprises Index of big mainland companies listed in Hong Kong is among the worst-performing stock benchmarks globally this week. The offshore yuan extended declines, hitting the weakest level in a year. High-yield dollar bonds are headed for the longest… Source link

(Bloomberg) — China’s factory gate prices rose more than expected in March as oil prices climbed, while disruptions from Covid lockdowns drove up food costs, threatening the inflation outlook in the world’s second-largest economy. Most Read from Bloomberg The producer price index gained 8.3% from a year earlier, official data showed Monday, down from 8.8% in February and above the median estimate of an 8.1% increase in a Bloomberg survey of economists. Consumer-price growth accelerated to… Source link

On Sunday reports emerged that Russia asked China for military and economic support for its war in Ukraine. Worse yet for the West, China reportedly seemed open to backing Russia. The news kicked off an intense week of diplomacy and economic brinkmanship that culminated Friday in a nearly two-hour call between President Joe Biden and President Xi Jinping of China. But, according to both sides, the big questions appear to remain unanswered. An official White House summary of the meeting said the… Source link

China’s Zhu Yi left Olympic ice in tears after falling twice in Monday’s free skate during team competition. The U.S.-born skater competing for China was previously the subject of online vitriol on Chinese social media platform Weibo after falling in Sunday’s short program. Her finish in the short program saw host nation China fall from third place to fifth. “Zhu Yi has fallen” trended on Weibo late Sunday after she crashed to the ice and missed another jump later in her performance. According… Source link

(Bloomberg) — Unprecedented trade surpluses and record inflows into its bond market are giving China a stockpile of dollars unseen since the days when the ‘Asian savings glut’ was blamed for keeping U.S. interest rates excessively low and fueling the sub-prime mortgage crisis. Most Read from Bloomberg But unlike then, when China aggressively recycled its dollar holdings into U.S. Treasuries, China’s giant pile of foreign exchange reserves are holding broadly stable. That means the… Source link