China Tag

28 Mar Opinion | Hold the bazooka: weak China growth, low stimulus is new normal

Posted at 08:30h in Asia

This partly explains why the government has stepped up support for the crisis-ridden housing market. Beijing has intensified pressure on banks to assist vulnerable developers, cut mortgage rates to stimulate demand and provided low-cost financing to the urban village renovation and affordable housing programmes.It also...

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28 Mar China’s ‘Princess of Wahaha’ Zong Fuli looks to revive US$2 billion family beverage business after founder’s passing

Posted at 04:33h in Asia

For about two decades, Kelly Zong Fuli operated in the shadows of her father, beverage tycoon Zong Qinghou – once China’s richest man. His death last month is now thrusting the woman known as the “Princess of Wahaha” into the spotlight.It will not be easy...

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27 Mar Climate crisis: countries must deliver on agreements they have signed, breach of Paris Agreement limits inevitable, Johan Rockstrom says

Posted at 23:00h in Asia

The world is just beginning to see the worst impacts of climate change, and world leaders must put aside their distrust and geopolitical tensions to move “as fast as we can” to deliver on their decarbonisation commitments and prevent irreversible damage to the planet, one...

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27 Mar Chinese social media platform Weibo removes fake images showing a rapidly ageing Tencent founder Pony Ma

Posted at 14:30h in Asia

Chinese social media platform Weibo has deleted a number of accounts publishing and spreading a retouched photo of a grey-haired and wrinkle-faced Pony Ma Huateng, Tencent Holdings’ founder and CEO, in the latest example of efforts to protect the country’s top entrepreneurs from online abuse.“A...

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27 Mar Bocom delivers more confident outlook after posting slight rise in profits

Posted at 13:45h in Asia

Bank of Communications (Bocom), one of China’s top state-owned lenders, delivered a cautiously optimistic outlook for its business and the country’s economy even as it posted its slowest earnings growth since at least 2004.Net profit at the Shanghai-based bank rose 0.7 per cent to 92.7...

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27 Mar PetroChina on track to peak carbon emissions, double output powered by low-carbon energy: top executives

Posted at 13:00h in Asia

PetroChina, the nation’s largest oil and gas producer, is on track to reach its goal to peak carbon emissions next year and is confident it can double the contribution of low-carbon energy to total output capacity over two years, its top leaders said.As it reported...

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27 Mar Apple’s iPhone shipments slumped in February, highlighting why CEO Tim Cook went on a charm offensive in China

Posted at 13:00h in Asia

Apple’s iPhone shipments in China fell by about one third in February from a year ago, according to official state data released Tuesday, a sign that the US tech giant is losing ground to Chinese smartphone brands in the world’s second-largest economy.Apple chief executive Tim...

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27 Mar China to woo belt and road partners at ‘digital silk road’ forum in April amid an increasingly divided cyberspace

Posted at 11:30h in Asia

China will host a forum next month to promote its digital-economy growth model and facilitate the development of digital infrastructure in partner nations of its Belt and Road Initiative (BRI), Beijing’s plan to grow global trade.The Digital Silk Road (DSR) Development Forum will open on...

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27 Mar Pursuing passions: how HSBC steers private banking clients towards acquiring trophy assets through credit advisory solutions

Posted at 06:00h in Asia

A paradigm shift in the lifestyle and investment strategies of ultra-high-net-worth (UHNW) individuals has led to a growing interest in the acquisition of luxury assets, such as superyachts, private jets and highly collectible art.These assets, while generally recognised as valuable holdings, do not typically generate...

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26 Mar BYD’s annual earnings surge 81% to all-time high on record EV deliveries, warns of weak consumer demand and global headwinds

Posted at 14:15h in Asia

The Shenzhen-based carmaker, which counts Warren Buffett’s Berkshire Hathaway among its shareholders, said revenue climbed 42 per cent to 602.3 billion yuan in 2023 following record deliveries of new energy vehicles (NEVs). These include pure battery-run EVs, plug-in hybrids and fuel-cell vehicles.Apple’s Tim Cook and...

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