The world’s two largest economies appear set to dial up their exchange of sharp language ahead of the U.S. presidential election in November, according to the former chairman of Goldman Sachs Asset Management. It has amplified concerns about whether simmering diplomatic tensions between the U.S. and China could soon spill over. China’s Foreign Ministry announced on Friday […] Read more
Chinese fintech firm Ant Group has begun the process of a concurrent initial public offering in Shanghai and Hong Kong. Ant, an affiliate of e-commerce giant Alibaba, said Monday that it would list its shares on both the Shanghai stock exchange’s STAR — a Nasdaq-style tech board — and the Hong Kong stock exchange. The dual […] Read more
China reported that the country’s GDP grew by 3.2% in the second quarter of this year, compared to a year ago — beating analysts’ expectations and rebounding from the first quarter’s contraction. It comes as lockdowns to contain the coronavirus outbreak in China eased, and as Beijing rolled out stimulus measures to prop up its economy. Economists […] Read more
The Chinese yuan is set to see a sizable appreciation against the greenback in the next 12 months, according to Zach Pandl, co-head of global foreign exchange, rates and emerging market strategy at Goldman Sachs. Pandl forecasts the Chinese currency could hit 6.70 per dollar in the next 12 months, “primarily through the health of the Chinese […] Read more
Malaysia’s police sought help from Hong Kong authorities in its 1MDB probe that includes the hunt for Jho Low, the alleged mastermind behind the billion-dollar scandal. The police have sent letters and information to their Hong Kong counterparts to seek help in the investigation, Inspector General of Police Abdul Hamid Bador said in Kuala Lumpur […] Read more
As China grapples with rising unemployment and slowing growth, some say a needed economic boost could come from new business approaches to hiring. The systemic challenges run deep. In one indication, a Chinese reality TV show featuring female contestants in their 30s to 50s jumped to the top of the charts after premiering last month. The show […] Read more
TikTok users in the U.S. and Hong Kong are deeply concerned after realizing that political matters may have jeopardized their future on the app. U.S. Secretary of State Mike Pompeo told Fox News on Monday that he is “looking at” banning TikTok and other Chinese social media apps amid rising tensions between Washington and Beijing. Within […] Read more
The Luckin Coffee fraud scandal was a “great morality tale” for markets, and more needs to be done to protect American investors from such cases, said an analyst, who said a bill to delist Chinese companies in the U.S. is essentially toothless. “It’s a great morality tale. It seems to me that those of us […] Read more
A Chinese aviation firm has said it hopes to start testing a new jet next year, prompting speculation that it may be working on a naval version of the FC-31. The fifth generation fighter, also known as the Gyrfalcon, has so far failed to attract buyers from the Chinese air force or foreign militaries, but […] Read more
China has hit back at what it calls Washington’s “suppression of Chinese media” by demanding that four US news organizations declare details of their finances and staffing in the country. The Associated Press, United Press International, CBS News and NPR News must submit relevant paperwork to the Chinese government within seven days, Foreign Ministry spokesman […] Read more
