China

China’s factory activity contracts less than expected in September, shrinks for fifth straight month

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China’s factory activity contracts less than expected in September, shrinks for fifth straight month

A worker assembling a loader transmission mechanism at a manufacturer in Qingzhou, China. Nurphoto | Nurphoto | Getty Images China’s factory activity contracted for a fifth consecutive month in September as the world’s second-largest economy struggles to revive its growth momentum. The official manufacturing purchasing managers’ index came in at 49.8 in September, compared with … Read more

‘Golden Week’ bookings show changes in how Chinese are traveling

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‘Golden Week’ bookings show changes in how Chinese are traveling

Outbound travel from China is set to receive a much-anticipated jolt as “Golden Week” bookings show changes in where and why Chinese people are traveling. Buoyed by falling airfares, Chinese travelers are booking more overseas trips for the National Day holiday period, which extends from Oct. 1 to 7, according to Fliggy, a major travel … Read more

china: China’s challenge: Avoiding Japan’s generational gamble

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china: China’s challenge: Avoiding Japan’s generational gamble

Earlier this week, China introduced significant policy measures, including a 20bp OMO rate cut, a 30bp MLF rate cut, and adjustments to the prime loan rates. Deposit rates will decrease by 20-25bp, and a 50bp RRR cut will inject around RMB 1 trillion in liquidity, with further cuts possible. The PBOC will also reduce mortgage … Read more

In global game of influence, China turns to cheap and effective tool: fake news

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In global game of influence, China turns to cheap and effective tool: fake news

Washington: When veteran US diplomat Kurt Campbell travelled to the Solomon Islands to counter Beijing’s influence in the South Pacific country, he quickly saw just how far China would go to spread its message. The Biden administration’s Asia czar woke up one morning in 2022 to a long article in the local press about the … Read more

WTI heads for weekly loss as supplies rise

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WTI heads for weekly loss as supplies rise

U.S. crude oil on Friday was on pace for its first weekly loss in three weeks, as the prospect of growing oil supplies from Saudi Arabia overshadowed China’s efforts to stimulate its economy. The U.S. benchmark West Texas Intermediate is down nearly 6% this week, while global benchmark Brent has pulled back nearly 4%. Prices … Read more

European markets: stocks, news and data

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European markets: stocks, news and data

Krisztian Bocsi | Bloomberg | Getty Images LONDON — European markets rose to a fresh record high Friday, tracking gains in China on news of a stimulus blitz, while investors also assessed fresh inflation data. The pan-European Stoxx 600 traded 0.3% higher at 527.03 points at 12:12 p.m. London time, paring earlier gains after notching … Read more

More all-time highs? Yes please

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More all-time highs? Yes please

Traders work on the floor of the NYSE.  NYSE This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know today All-time high, … Read more

Alibaba, Tencent rally as China tech stocks rise on stimulus plans

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Alibaba, Tencent rally as China tech stocks rise on stimulus plans

The Alibaba office building is seen in Nanjing, Jiangsu province, China, Aug 28, 2024.  CFOTO | Future Publishing | Getty Images Chinese tech stocks, including beaten-down names like Alibaba, rallied this week, hitting highs not seen in more than a year after China’s central bank announced measures to stimulate the world’s second-largest economy. The Hang … Read more

China’s Plan to Make AI Watermarks Happen

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China’s Plan to Make AI Watermarks Happen

Chinese regulators likely learned from the EU AI Act, says Jeffrey Ding, an assistant professor of Political Science at George Washington University. “Chinese policymakers and scholars have said that they’ve drawn on the EU’s Acts as inspiration for things in the past.” But at the same time, some of the measures taken by the Chinese … Read more

National Aluminum, SAIL shares surge up to 4% on PBoC’s 50 bps RRR cut

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National Aluminum, SAIL shares surge up to 4% on PBoC’s 50 bps RRR cut

Shares of metal companies like National Aluminium surged 4.7% to its fresh 52-week high of Rs 21.40 while those of SAIL rallied 3.5% to day’s high of Rs 144.20 on the BSE as People’s Bank of China (PCoB) announced that it would cut the amount of cash that banks must hold as reserves (reserve requirement … Read more