Reuters Asia Business

SEOUL (Reuters) – Bank of Korea Governor Rhee Chang-yong said on Monday recent market concerns over a financially troubled builder are a “warning sign” over the financial risks of prolonged monetary tightening. While managing inflation remains the top priority, it is important to find the right policy mix as South Korea approaches the end of …

Bank of Korea’s Rhee eyes warning signs of prolonged monetary tightening Read More »

By Cynthia Kim SEOUL (Reuters) – South Korea’s exports rose for a third month in December but at a slower pace as weaker demand for Korean goods in China offset robust global sales for semiconductors, data showed on Monday. Exports by Asia’s fourth largest economy gained 5.1% to $57.66 billion in December, slowing from a …

South Korea Dec exports up for third month but at slower pace Read More »

(Reuters) – China’s Li Auto Inc said on Sunday it expects to launch and begin deliveries of its first fully electric car in March. Li Auto has already started taking pre-orders in China for its MEGA multi-purpose vehicle (MPV) at an estimated price of under 600,000 yuan ($84,533.24). The automaker said in November that the …

China’s Li Auto expects to launch first fully electric EV in March Read More »

BEIJING (Reuters) – President Xi Jinping said on Sunday that China will consolidate and enhance the positive trend of its economic recovery in 2024, and sustain long-term economic development with deeper reforms. In a televised speech to mark the New Year, Xi said China would deepen reforms to shore up confidence in the economy. Xi …

Xi says China to consolidate and enhance economic recovery in 2024 Read More »

By Liangping Gao and Kevin Yao BEIJING (Reuters) -China’s manufacturing activity shrank for a third straight month in December and weakened more than expected, clouding the outlook for the country’s economic recovery and raising the case for fresh stimulus measures in the new year. The government has in recent months introduced a series of policies …

China Dec factory contraction deepens, more stimulus on the cards Read More »

SINGAPORE (Reuters) – In recent months, China has sought to stabilise the yuan by orchestrating buying by state banks and giving market guidance to bankers. The strategy of moral suasion marks a sharp break from Beijing’s approach the last time the currency was on the ropes, in 2015. Back then, the People’s Bank of China …

Analysis-How China talked markets out of a run on the yuan Read More »

BEIJING (Reuters) – China’s central bank has agreed that popular payment app Alipay has no controller following a sweeping business overhaul of Jack Ma’s Ant Group, the fintech giant that owns the app, according to the website of the People’s Bank of China. In January, Ant Group said its founder Jack Ma will no longer …

China’s central bank agrees Ant Group’s Alipay has no controller Read More »