BEIJING, Nov 30(Reuters) – China’s non-manufacturing activity shrank in November for the first time since December 2022, an official survey showed on Sunday. The non-manufacturing purchasing managers’ index (PMI), which includes services and construction, fell to 49.5 from 50.1 in October, the lowest reading since December 2022, according to the National Bureau of Statistics. The …
BEIJING, Nov 30(Reuters) – China’s factory activity shrank for an eighth month in November, an official survey showed on Sunday, suggesting the need for further stimulus to boost demand, as manufacturers struggle with lacklustre domestic demand. The official purchasing managers’ index (PMI) rose to 49.2 in November, versus 49.0 in October, remaining below the 50-mark …
China’s factory activity shrinks for eighth month in November, PMI shows Read More »
BEIJING, Nov 29 (Reuters) – China guides banks and insurers to fully provide financial support services after a deadly fire in Hong Kong caused significant casualties and property damage, the nation’s financial regulator said on Saturday. Insurance companies should handle claims and other procedures for disaster affected customers in a timely manner, and assist disaster …
China guides banks, insurers to fully provide financial services after Hong Kong fire Read More »
BEIJING, Nov 29 (Reuters) – China’s central bank reaffirmed its tough stance on virtual currencies on Saturday, warning of a resurgence in speculation and vowing to crack down on illegal activities involving stablecoins. The People’s Bank of China (PBOC) said at a coordinating meeting on virtual currency regulation on Friday that crypto speculation has recently …
China’s central bank vows crackdown on virtual currency, flags stablecoin concerns Read More »
Nov 29 (Reuters) – Micron Technology will invest 1.5 trillion yen ($9.6 billion) to build a new plant in Hiroshima in western Japan to produce advanced high-bandwidth memory (HBM) chips, the Nikkei reported on Saturday, citing people familiar with the matter. The U.S. chipmaker aims to start construction at an existing site in May next …
Micron to invest $9.6 billion in Japan to build AI memory chip plant, Nikkei reports Read More »
(Reuters) -Warehouse operator Henry Bath & Son has become the latest company to register a storage facility with the London Metal Exchange in Hong Kong, a notice from the bourse revealed on Friday. The warehouse, located in the Kwai Chung district in Hong Kong’s New Territories, can store copper, aluminium and aluminium alloy, nickel, lead, …
By Francesco Guarascio HANOI (Reuters) -China’s leading telecommunication firms Huawei and ZTE have won a string of contracts this year to supply 5G equipment in Vietnam, in another sign of Hanoi’s strengthening bonds with Beijing, stirring concern among Western officials, seven people with direct knowledge of the situation told Reuters. For years, Vietnam was seen …
By Philip Blenkinsop and Helen Reid BRUSSELS (Reuters) -European finance ministers have agreed to bring forward to next year customs duties on low-value parcels to crack down on cheap Chinese e-commerce imports from online platforms like Shein and Temu. Here are details of Europe’s concerns around cheap e-commerce imports, and the actions the European Union …
Explainer-How the EU plans to crack down on low-value e-commerce goods from China Read More »
By Eduardo Baptista and Toby Sterling BEIJING/AMSTERDAM (Reuters) -Wingtech, the Chinese parent company of Netherlands-based Nexperia, accused its Dutch unit on Friday of conspiring to build a non-Chinese supply chain and permanently strip it of its control, escalating tensions between the two sides. In a separate statement, Nexperia’s Chinese arm demanded the Dutch business halt …
Nexperia accused by parent Wingtech and Chinese unit of plotting to move supply chain Read More »
By Toby Sterling AMSTERDAM (Reuters) -China’s Wingtech on Friday said it has appealed decisions stripping it of control of its Nexperia chipmaking subsidiary to the Netherlands’ Supreme Court. The dispute over Nexperia, which has contributed to shortages of chips widely used in car electrical systems, began on September 30 when the Dutch government moved to …
Wingtech challenges Nexperia decisions at Netherlands’ Supreme Court Read More »
