CHINAROUNDTHECLOCK-India, backed by China, is trying to build a consensus within the G20 group to let countries choose a roadmap to cut carbon emissions instead of setting a deadline to end the use of fossil fuels, three Indian government officials said, Reuters reported. India, the current G20 president, is keen on introducing the phrase ‘multiple energy […]
Chinese e-commerce giant Alibaba Group reported better-than-expected Q1 results on Friday, with revenues of RMB 187.4 billion ($28.6 billion), up 64% year-over-year, beating analysts’ estimates of RMB 180.4 billion. The company also reported a net income of RMB 46.4 billion ($7.1 billion), up 12% year-over-year. The results were driven by strong growth in Alibaba’s core […]
Effective immediately, China’s central bank has issued instructions for the interest rate Swap Connect program linking Hong Kong and mainland China. This move was announced on Friday in Beijing. The move marks another step in the opening up of China’s capital markets as it will allow foreign investors to access onshore interest rate derivatives and […]
China and ten Southeast Asian countries, collectively known as the Association of Southeast Asian Nations (ASEAN), have signed a free trade agreement that is expected to boost trade and economic cooperation in the region. The agreement, called the Regional Comprehensive Economic Partnership (RCEP), was signed at a virtual summit attended by leaders from all participating […]
China’s economy experienced its quickest growth rate in the past year during the first quarter, largely due to the conclusion of Covid-Zero and improved consumer and industrial activity, demonstrating that the recovery is proceeding as expected. Gross domestic product expanded 4.5% in the January-to-March period from a year prior, data released by the National Bureau […]
“China is starting to target western interests in the country after five years of snowballing trade and technology restrictions spearheaded by the US under presidents Donald Trump and Joe Biden,” The Financial Times reports.“Over the past two months, Chinese officials have slapped new sanctions on US weapons companies Lockheed Martin and Raytheon, launched an investigation […]
Bangladesh is set to pay off its pending obligations to Russia in Chinese yuan rather than the US dollar. The total debt amount for the Rooppur power plant, which is currently under construction, is reported to be $110 million and will be paid to Moscow in the Chinese currency. The development came amid increasing de-dollarisation […]
In recent years, China has emerged as a major global power, with a booming economy and a growing influence in international affairs. However, despite its many successes, China still faces challenges in building trust with the rest of the world. One key factor in this is transparency. Transparency refers to the openness and accountability of […]
China has taken another giant leap forward in its quest to become a space superpower by successfully launching the first module of its new space station on April 6th. The new space station, named Tiangong, will replace China’s previous space lab, Tiangong-2, which was decommissioned in 2019. The module, named Tianhe, was launched from the […]
On April 10th, China’s top e-commerce company, Alibaba, was hit with a record antitrust fine of $2.8 billion by Chinese regulators. This penalty comes after an investigation that found Alibaba had abused its dominant market position by forcing merchants to sell exclusively on its platforms and imposing unfair fees. The antitrust investigation was initiated last […]
