China continues its no-tolerance policy towards social media by ordering one of the country’s fastest-growing startups, Beijing Bytedance Technology Co., to close one of its joke-sharing apps and delete its WeChat account, Bloomberg reports, on the grounds that its content clashes with party ideology. Bytedance, which boasts a $20 billion market value and hundreds of […]
Author: Timothy Ang
Vehicle sales in China were up 4.7% year-on-year in March, according to the China Association of Automobile Manufacturers (CAAM), a sharp uptick in growth compared to the 1.7% rise posted in January and February. According to The Wall Street Journal, the slow growth during the first two months of the year was likely caused by the distortions […]
A trading link between the Shanghai and London stock exchanges will open by the end of the year, said China’s central bank yesterday, as part of the country’s commitment to opening-up its financial sector. British Chancellor of the Exchequer Philip Hammond said that the exchange link will “provide UK businesses, savers and investors with unique […]
Producer and consumer inflation cooled sharply in March, according to the latest Chinese official data, which Reuters suggests could probably indicate that demand is ebbing in the Chinese economy. The producer price index (PPI) was up 3.1% year-on-year in March, a 17-month low and the fifth consecutive monthly slowdown. The consumer price index, meanwhile, rose 2.1% year-on-year, […]
Chief of the People’s Bank of China Yi Gang outlined a schedule for China’s long-awaited financial reforms in 2018, Caixin Global reports, promising for the process to begin by June. The first wave of measures will be aimed at giving foreign investors greater access to China’s financial sector, Yi said at a session of the […]