European business leaders in China have stated that the current zero-Covid policy in place in the country is putting foreign investment at risk, as strict lockdown measures pushed the Chinese services sector to its weakest level of activity in more than two years, reports the Financial Times. Twice as many European businesses are weighing a […]
Category: Markets
This year’s Chinese Labour Day holiday saw travelers in the country spend 43% less over the five days than during the same period last year. The drop can mostly be credited to the tightening of Covid prevention measures around the country and their effects on consumption, reports Reuters. The Ministry of Culture and Tourism said on Wednesday […]
The turbulent initial public offering of Chinese ride-hailing giant Didi Chuxing is now being investigated by the US Securities and Exchange Commission, piling more regulatory pressure on the company after Beijing launched a national security probe into the group last year, reports the Financial Times. Chinese authorities opened an investigation into Didi two days after […]
The People’s Bank of China, China’s central bank, promised fiscal policy aid to make sure of ample liquidity, to assist businesses struggling due to the current covid-related lockdowns and boost consumption recovery, reports Reuters. The remarks came after a top decision-making body of the ruling Communist Party last week also vowed to support the economy. […]
The US Securities and Exchange Commission (SEC) added over 80 more companies to a growing list of firms facing the possibility of delisting from US exchanges due to a lack of financial audit access for regulators. Included in the list are Chinese tech giants JD.com, Pinduoduo and Bilibili, reports Bloomberg. The SEC on Wednesday put […]