Reuters Asia Business

China considers plan to help Vanke repay $6.8 billion debt, Bloomberg News reports

12 Feb 2025

(Reuters) – Chinese authorities are considering a plan to assist China Vanke in covering a funding shortfall of about 50 billion yuan ($6.84 billion) this year, enabling the property developer to repay its public and private debt, Bloomberg News reported. The proposal involves regulators allocating 20 billion yuan in special local government bonds to buy …

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Japan’s JERA sees rising competition for US LNG as Asia, Europe demand grow

12 Feb 2025

By Mrinalika Roy and Sethuraman N R NEW DELHI (Reuters) – Japan’s top power generator JERA expects competition for U.S. liquefied natural gas (LNG) to increase as demand from Asia and Europe rises, its Asia CEO said on Wednesday. “There are many potential buyers. Asian and European buyers are really interested in U.S. energy. So, …

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China’s SMIC flags chip oversupply risk on weakening demand, rising output

12 Feb 2025

BEIJING (Reuters) -China’s largest chipmaker SMIC said the market for its staple mature-node chips could be oversupplied in the second half of 2025, tempering optimism about a recovery from a post-pandemic slump. Semiconductor Manufacturing International Corp focuses on established chips for consumer electronics and home appliances which enjoyed a demand surge during stay-at-home policies of …

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China South Industries Group’s deputy general manager under investigation

12 Feb 2025

BEIJING (Reuters) – Liu Weidong, a deputy general manager of China South Industries Group, has fallen under investigation for suspected violations of laws and discipline, China’s anti-graft watchdog announced on Wednesday. State-owned China South Industries Group，the controlling shareholder of Chongqing Changan Automobile, is planning a restructuring with other state-owned firms. (Reporting by Beijing Newsroom; Editing …

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China’s purchases of chipmaking equipment to decline in 2025, consultancy says

12 Feb 2025

By Che Pan and Brenda Goh BEIJING/SHANGHAI (Reuters) – China’s purchases of chipmaking equipment are set to decline this year after three years of growth, as the industry grapples with overcapacity and faces greater constraints from U.S. sanctions, a consultancy said on Wednesday. China has been the biggest buyer of wafer fabrication equipment for at …

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Pakistan sees economy on long-term recovery path under IMF program

12 Feb 2025

ISLAMABAD (Reuters) – Pakistan’s economy is on a path to long-term recovery, thanks to a stabilisation programme backed by the International Monetary Fund, Prime Minister Shehbaz Sharif said ahead of a first review of a $7-billion IMF bailout set for early in March. The comments came in Sharif’s meeting on Tuesday with Kristalina Georgieva on …

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South Korean shipbuilding shares jump after report on U.S. bill

12 Feb 2025

SEOUL (Reuters) – Shares in South Korean shipbuilders HD Hyundai Heavy Industries and Hanwha Ocean rose more than 15% and 16%, respectively, in Wednesday afternoon trade. Shares rallied after South Korea’s Yonhap news agency reported on Tuesday that two U.S. senators introduced a bill to allow the U.S. Navy to build naval vessels in a …

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Analysis-Is China’s state-funded stock revival plan pie in the sky?

12 Feb 2025

By Samuel Shen and Vidya Ranganathan SHANGHAI/SINGAPORE (Reuters) – As China directs its large financial institutions to help revive and rebalance a struggling stock market, analysts see merit in the plan but are sceptical it will stimulate a recovery. Beijing has used this playbook before to some success. Now, however, it is in a vicious …

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Baidu to release next-generation AI model this year, source says

12 Feb 2025

(Reuters) -China’s Baidu is set to launch the next iteration of its artificial intelligence model in the second half of 2025, a person with direct knowledge of the matter told Reuters. The new model, Ernie 5, will feature multimodal capabilities enabling it to process and convert between different formats including text, video, images and audio, …

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