Beijing issued a defiant response to the latest sabre-rattling from the US regarding higher tariffs on Chinese goods, warning that any further decisions will again be met with equal retaliation Bloomberg reports. “China has made full preparation for the US threats to escalate the trade war, and will have to retaliate to defend national pride and […]
Category: Brief
The Industrial and Commercial Bank of China (ICBC) – one of China’s “big four” state-owned commercial banks – will issue more targeted loans to small businesses and those with ties to government-led infrastructure investment, sources told Caixin. Given that ICBC’s decisions are often closely in line with government policy, the move strongly suggests that Beijing is […]
The US Senate has passed a record defence bill that includes new restrictions on China but has been called a soft compromise by some on Capitol Hill, Reuters reports. The bill, having cleared the two houses of Congress, will now pass to the president who must sign it into law. Amendments were included in the […]
Chinese drugmaker Beigene Ltd raised $903 million in a second listing in Hong Kong this week, following a surge in its share price on the Nasdaq encouraged demand from investors. The listing brings Beigene’s market capitalisation to $9.8 billion, according to the Wall Street Journal. The sum raised in Hong Kong already greatly exceeds the […]
High-value-added industries are beginning to widen their role in China’s economy, new data shows, after the sector slumped during the first half of the year. The New Economy Index run jointly by Caixin rose to 30.6 last month from 29.2 in June, meaning emerging industries such as biotechnology and high-tech manufacturing contributed 30.6% of total […]