Tag Archives: Chinese

A J-16 fighter jet in Changchun, China, in 2019.STR/AFP via Getty Images A Chinese jet cut in front of an Australian plane and fired debris into its engine, officials said. Australia’s defense ministry said the incident happened on May 26 over international waters. Chinese aircraft regularly “buzz” or try to interfere with foreign aircraft near their airspace. A Chinese fighter jet veered in front of an Australian military plane and fired off a cloud of debris that entered its engine,… Source link

(Bloomberg) — Chinese authorities are facing an uphill battle convincing companies and households to boost borrowing as long as Covid outbreaks and lockdowns continue to crush confidence. Most Read from Bloomberg After loan growth weakened in April to the worst level in almost five years, several indicators suggest the data for May won’t be much better. Housing sales have continued to slump, indicating a lack of appetite for mortgages and subdued credit demand among developers and sectors… Source link

Chinese President Xi Jinping has urged the EU not to “tie the whole world” to the crisis in Ukraine and warned it could take decades to repair the economic damage. In a virtual summit with European Union leaders on Friday, Xi told European Commission President Ursula von der Leyen and European Council President Charles Michel that the crisis must be “properly handled”. “Many people are very worried that the current situation may destroy the achievements of decades of international economic… Source link

(Bloomberg) — Chinese stocks listed in Hong Kong had their worst day since the global financial crisis, as concerns over Beijing’s close relationship with Russia and renewed regulatory risks sparked panic selling. Most Read from Bloomberg The Hang Seng China Enterprises Index closed down 7.2% on Monday, the biggest drop since November 2008. The Hang Sang Tech Index tumbled 11% in its worst decline since the gauge was launched in July 2020, wiping out $2.1 trillion in value since a… Source link

In early 2020, an accounting scandal at Luckin Coffee blindsided its American stockholders as the coffeehouse chain’s stock price fell to the floor. Luckin Coffee highlighted a problem: American investors knew little of Chinese company financials while the stocks trade freely on U.S. exchanges. The incident sparked questions regarding whether other crises involving U.S.-listed Chinese companies lurked around the corner. Congress acted to stop the next Luckin by passing the Holding Foreign… Source link

[unable to retrieve full-text content]No more Yahoo Mail for mainland Chinese users  South China Morning Post Source link

(Bloomberg) — Chinese technology stocks dropped for a third straight session amid fresh worries over Beijing’s regulatory plans for the sector. Most Read from Bloomberg The Hang Seng Tech Index fell more than 3% on Tuesday and headed for the lowest close since its inception in 2020. Alibaba Group Holding Ltd. led declines following a Bloomberg report that authorities have begun another round of checks on its fintech business arm. The rout weighed on the broader Hong Kong market, with the… Source link

Nigeria is looking to Europe for funding to complete infrastructure projects such as railways, with a senior official in the West African nation saying Chinese loans are drying up. Analysts say Nigeria’s situation reflects a broader Chinese move away from funding these expensive projects in Africa, where China has provided hundreds of billions of dollars in loans to develop infrastructure as part of its Belt and Road Initiative. Last weekend, Transport Minister Rotimi Amaechi told Nigerian… Source link

The Biden administration’s push to reduce U.S. reliance on Chinese imports has renewed domestic efforts to produce rare earths minerals, critical to the production of electric vehicles and electronics. A new bipartisan Senate bill is aiming to accelerate that timeline, by banning defense contractors from sourcing those materials in the first place. In an interview with Yahoo Finance Live, the bill’s co-sponsor Sen. Mark Kelly (D, AZ) called Chinese rare earth minerals “a national security… Source link

Citigroup (C) CEO Jane Fraser, who leads the third-largest U.S. bank, said in a new interview that she expects sluggish short-term growth in the Chinese economy as the country continues to bolster domestic consumption and taper its reliance on exports.  The bank approaches China with “caution” but remains bullish about the country’s role in global economic growth over the longterm, Fraser said. “I think it’s come off the boil for sure, but I think bubbling away too ferociously isn’t great… Source link