China’s top securities regulator approved Fidelity International on Friday to set up a wholly owned mutual fund business, making the US company the second global asset manager after BlackRock to tap into the country’s fast-growing wealth market, reported Caixin. The new company, to be based in Shanghai with $30 million of registered capital, is 100% controlled by […]
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US national security adviser Jake Sullivan raised concerns about Huawei equipment in Brazil’s 5G telecoms network during his visit to the country last week, a White House official said on Monday, but Brazil made no promises about whether it would use products from the Chinese company, reported Reuters. The National Security Council’s senior director for […]
As Angela Merkel’s leadership of Germany heads into its final weeks, jostling is under way inside and outside the European Union to shape its future relations with China, reported the South China Morning Post. Her farewell tour featured a trip to Washington, a series of high-level summits with Western allies, and multiple meetings with top level American […]
Wall Street banks Goldman Sachs, JPMorgan and Morgan Stanley all cut their China growth forecasts on Monday after the country reported lower than expected import and export numbers and on concerns that the resurgent coronavirus would crimp economic activity, reported Reuters. JPMorgan reduced its quarter-on-quarter growth estimate for the third quarter to 2.0% from 4.3% and trimmed […]
China’s factory inflation surged again in July, following a short-lived retreat in the previous month, as commodity prices remained high despite the government’s steps to rein in costs, reported Bloomberg. The producer price index grew 9% in July from a year earlier, the National Bureau of Statistics said Monday, quickening from 8.8% in the previous […]