In his address at the annual Boao Forum in Hainan, President Xi Jinping somewhat assuaged market concerns over the looming trade war between China and the U.S. by committing to lower tariffs this year and a continuation of China’s path to liberalisation. Xi said China was beginning a ‘new phase of opening up’, citing increased […]
Category: Brief
Asian leaders at Boao Forum were in agreement yesterday on the issue of China’s growing trade tensions with the US: the economic impacts would affect the entire region. The forum, which takes place annually on the tropical island of Hainan and is considered by some to be the ‘Asian Davos’, convenes political and economic authorities […]
Chinese conglomerate HNA group is looking to sell off its remaining 26% stake in Hilton Worldwide, the Financial Times reports, giving the debt-laden company up to $6 billion of liquidity as it continues to shed assets. HNA currently own between 63 and 72.5 million shares in the hotel chain, which they will list in a […]
China’s State Council revealed plans yesterday to develop a national financial database over the next five years, Reuters reports, in a bid to “fend off systemic financial risk” not accounted for by the current system. The project, lead by the People’s Bank of China, will focus of collecting more comprehensive data from key financial institutions […]
Chinese electric vehicle producer Xiaopeng Motors has plans to fundraise RMB17 billion ($2.7 billion) this year, Bloomberg reports, with investment being led by tech giants Alibaba and Foxconn. Speaking at the Boao Forum yesterday, company founder He Xiaopeng said that pre-sales of the first model will begin by the end of April. As of January, […]