Morning Bid: Yen Surges Amidst Busy Fed-Led Week

In a week brimming with major market events, the action commenced with dramatic fluctuations in Japan’s yen, setting the stage for a whirlwind of speculation and volatility. The currency plummeted to 34-year lows of 160 per dollar, only to rebound sharply amidst rumors of intervention, reflecting the nervous sentiments pervading the market. As the dollar/yen […]

BYD Feels the Pinch: China’s Electric Vehicle Giant Shows Signs of Strain Amid Price War, Reports Slower Profit Growth

Amidst a fierce price war in the electric vehicle market, China’s leading electric vehicle manufacturer, BYD, has revealed signs of strain with weaker profit growth. The company’s latest financial report, released on April 29, 2024, underscores the challenges posed by intensifying competition in the industry. As the battle for market share escalates, BYD’s profit growth […]

Chinese Football Association Introduces “Messi Clause” to Enhance Transparency in Soccer Events

In a surprising move applauded by soccer enthusiasts, the Chinese Football Association (CFA) has unveiled the “Messi clause” as part of its recent regulatory revisions governing international soccer events. Under the spotlight are new regulations mandating comprehensive ticketing terms, including upfront disclosure of star players’ appearance conditions and contractual consequences, prior to ticket sales initiation. […]

Heavy Flooding Expected in Three Yangtze River Provinces: Hubei, Hunan, and Jiangxi

The State Flood Control and Drought Relief Headquarters have identified Central China’s Hubei, Hunan, and East China’s Jiangxi as key flood control areas for the upcoming flood season along the middle and lower reaches of the Yangtze River. In response to recent heavy rainfall, the headquarters dispatched an on-site inspection team to assess local flood […]

Mainland China Initiates Tourism Resumption to Taiwan’s Matsu, Approves Imports from Taiwan

Chinese mainland authorities announced on Sunday their decision to lead the way in resuming tourism for residents of East China’s Fujian Province to visit Matsu, as well as approving certain imports from the island of Taiwan. These moves, experts believe, signal goodwill and aim to further promote cross-Straits exchanges and cooperation by upholding the 1992 […]

China Aims to Elevate Cooperation with France to New Heights

China’s top diplomat, Wang Yi, expressed China’s commitment to strengthening high-level exchanges with France and enhancing the comprehensive strategic partnership between the two countries. Wang made these remarks during a phone call with Emmanuel Bonne, the Diplomatic Counselor to the French President, emphasizing the importance of bilateral cooperation across various sectors and the significant role […]

China’s National Immigration Administration (NIA) Introduces New Measures to Ease Entry and Exit Processes

China’s National Immigration Administration (NIA) announced a series of new measures on Sunday aimed at simplifying entry and exit procedures for the public and businesses. These measures include streamlining document processing and applications, extending the duration of business stays, and catering to diverse tourism needs. Observers view this move as part of China’s efforts to […]

World’s Tallest Wooden Pagoda Introduces AI-Powered “Digital Twins”

In a groundbreaking development, the Yingxian Wooden Pagoda, also known as the Sakyamuni Pagoda of the Fogong Temple, located in Yingxian County, North China’s Shanxi Province, unveiled its artificial intelligence (AI)-powered “digital twins” on Friday. This innovative technology allows visitors to immerse themselves in the previously inaccessible views inside the tower using virtual reality (VR) […]

China Implements New Policy to Promote Green Vehicle Adoption

On Friday, China rolled out a new policy aimed at incentivizing the trade-in of high-polluting vehicles for new energy vehicles (NEVs) or fuel-efficient cars. This initiative, introduced as part of a broader action plan to encourage large-scale equipment renewal and consumer goods trading, seeks to bolster domestic consumption while advancing the nation’s environmental goals. Effective […]