Page 10 - China

Sri Lanka secures China assurances to clear way for $2.9 bn IMF bailout

China has given assurances that it will support Sri Lanka's debt restructuring, clearing the biggest hurdle for the debt-ridden country to secure a much-needed USD 2.9-billion bailout package from the IMF, President Ranil Wickremesinghe said on Tuesday. In January, India strongly backed the island nation's efforts to secure a loan from the global lender to recover from its worst-ever economic crisis. Last night we received a new letter from the EXIM Bank of China. I and the governor of the Central Bank signed our letter of intent and sent it to the International Monetary Fund (IMF) last night itself," Wickremesinghe, who is also the minister of finance, told Parliament. Wickremesinghe said, our part of obligations are now complete and we hope the IMF will do their duty by the third or fourth week of this month, this will enable us to receive funding from the world bank and the ADB, he added. The IMF bailout process made slow progress due to the need to restructure Sri Lanka's nearl

Apple iPhone SE 4 may feature OLED panel from Chinese supplier: Report

Due to production problems, BOE missed the initial number of OLED panels intended for this year's iPhone 15 series, with Samsung and LG claiming the majority of orders, reports MacRumors

EVs to increase India's dependence on China for raw materials: GTRI report

Manufacturing of electric vehicles (EVs) in India will increase its dependence on China for raw materials, mineral processing, and battery production, according to a report of by economic think tank GTRI. The Global Trade Research Initiative (GTRI) also said that there is a need for life cycle impact evaluation for the EVs sector EVs result in the release of pollutants during battery making, disposal, and charging and about 70 per cent of materials used to manufacture EVs in India are imported from China and a few other countries, it said. "EVs will increase India's dependence on China for raw materials, mineral processing, and battery production," it said. China has bought the largest lithium mines in Australia and South America. It processes more than 60 per cent of the lithium produced globally. It also processes 65 per cent of cobalt and 93 per cent of manganese. China makes three out of four batteries produced globally, it said, adding over 100 Chinese battery units make 60 p

US must stop suppressing China or risk 'conflict': Chinese FM Qin Gang

"The United States' perception and views of China are seriously distorted," Qin said

Higher defence spending is purely to safeguard nation's sovereignty: China

Foreign media should look at their own countries' military expansions before hyping the "China threat" theory, analysts said

RIC nations unlikely to meet till China border situation normalises

Last week Russian Foreign Minister Lavrov said a meeting would be held later this year

Global mkts fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market

Will pay up to settle labour dispute with Japan, says South Korea

Forced work under Japan's 1910-1945 occupation: The move presents a unified front against China and North Korea

China plans to create a central agency to manage the flow of data: Report

Chinese officials have in recent years emphasised the need to strengthen their control over the valuable data generated by swaths of the economy, including its internet industry

Will take forceful measures to ensure high-end manufacturing: Xi Jinping

This comes against the backdrop of shifts of production capacity to US, neighbours

From China to India

India should welcome investments looking for alternatives

Chinese planners promise 12 million jobs, economic rebound following Covid

Chinese economic officials expressed confidence Monday they can meet this year's growth target of around 5 per cent by generating 12 million new jobs and encouraging consumer spending following the end of anti-virus controls that kept millions of people at home. The Cabinet planning officials announced no details of spending or other initiatives to revive growth that slumped to 3 per cent last year, the second-lowest in decades. But they said they plan an array of measures to meet goals announced Sunday by Premier Li Keqiang by raising incomes and encouraging innovation. Efforts to revive the Chinese economy have global implications after weak retail, auto and housing sales depressed demand for imports. The country is the biggest export market for its Asian neighbours and an important revenue source for Western companies. There are many policy tools in our toolbox, the deputy chairman of the National Reform and Development Commission, Li Chunlin, said at a news conference held durin

BYD's $18 bn rout shows fallout of price war among EV makers in China

Traders are growing wary about BYD's prospects after the electric vehicle maker's dealers slashed prices of some models to boost sales

US to introduce bipartisan legislation against Chinese-app TikTok this week

We have never had a potential adversary like China. So this week, I'm introducing bipartisan legislation to protect our national security against a wide range of foreign tech threats, said US Senator

Germany's Olaf Scholz warns of 'consequences' if China sends arms to Russia

German Chancellor Olaf Scholz says there would be "consequences" if China sent weapons to Russia for Moscow's war in Ukraine, but he is fairly optimistic that Beijing will refrain from doing so. Scholz's comments came in an interview with CNN that aired on Sunday, two days after he met US President Joe Biden in Washington. US officials have warned recently that China could step off the sidelines and begin providing arms and ammunition to Moscow. Ahead of his trip, Scholz had urged Beijing to refrain from sending weapons and instead use its influence to press Russia to withdraw its troops from Ukraine. Asked by CNN if he could imagine sanctioning China if it did aid Russia, Scholz replied: "I think it would have consequences, but we are now in a stage where we are making clear that this should not happen, and I am relatively optimistic that we will be successful with our request in this case, but we will have to look at (it) and we have to be very, very cautious." He did not elabora

Biden administration prepares new rules for US investment in China: Report

It was mentioned in the report that sectors that could advance rivals' military capabilities would be a focus of the program, as per The Wall Street Journal report

China sets economic growth target at 5% for 2023, lowest in over 25 years

China unveiled its lowest growth target in more than a quarter-century as Beijing faces challenges in the domestic and global economy

Can't get my money out of China, India better investment option: Mobius

Mobius, who calls himself 'the Indiana Jones of Emerging Market investing', told FOX Business he's increasing exposure to alternative markets such as India and Brazil

China defence budget raised by 7.2%, 3 times India's, one-third of America

Actual defence spending during the year will rise to $225 billion, a single-digit budget increase for the eighth consecutive year

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