China announces plan for ‘innovation-driven’ stock exchange in Beijing
19 September 2021 | 5:43 pm
Beijing has said it want to foster small and medium-sized businesses by setting up third stock exchange in Beijing. The move comes despite an ongoing regulatory crackdown on China's biggest tech companies.
China said it took the punitive step after self-ruled Taiwan opened a de facto embassy in Lithuania.
Chinese officials ordered some of the country's biggest companies — including Alibaba, Tencent and Baiidu — to pay fines for failing to report corporate acquisitions over the past eight years.
President Joe Biden has invited 109 countries to the virtual summit which will take place on December 9 and 10. China said adding Taiwan to the guest list was a "mistake."
China's post-COVID recovery has been hurt by Beijing's crackdown on real estate and tech giants. Strong exports have, until now, saved the economy but what happens when global demand for Chinese goods slows?
East Africa has been ramping up efforts to expose its citizens to Chinese culture - particularly through language. In Kenya Mandarin is offered as a selective language in the national curriculum, while in Uganda it’s now a compulsory subject in some schools. But is this simply an exchange of cultures, or is there more to it?
Chinese real estate giant Evergrande, saddled with around $300 billion in debt, has been struggling to meet interest payments on its loans. If it collapses, some of its partner firms could be driven to bankruptcy, prospective homebuyers could lose deposits and some banks would lend less money, which would lead to a credit crunch in the world's second-biggest economy. Property developers in China have in fact created an oversupply: there is enough empty property in the country to house more than 90 million people. FRANCE 24's team reports.
The EU Commission on Wednesday (1 December) unveiled its plan to invest €300bn by 2027 in global infrastructure in digital and climate projects - as an alternative to China's Belt and Road initiative.
The governing body of women's tennis took the decision after Peng made an allegation of sexual abuse against a Chinese official. WTA chairman Steve Simon said he worried about player safety at tournaments in China.
Since September, the name Evergrande has caused panic on stock exchanges around the world. Paralysed by $300 billion in debt (€260 billion), or the equivalent of 2 percent of Chinese GDP, the country's second-largest real estate developer is now threatening Chinese growth. Evergrande has more than 1,300 construction projects across China, as well as financial products, electric cars, livestock, bottled water and even a football club.
The EU and China have pledged to boost funding of green investment projects in ASEAN. But will these erstwhile partners, whose relations have soured over the past year, be able to work side by side?
July 12 marks the fifth anniversary of a landmark ruling by the independent Permanent Court of Arbitration at The Hague that rejected China's claims to contested islands in the South China Sea. Despite the 2016 ruling, Beijing has deployed forces to prevent fishers from the Philippines from accessing the waters.
A video distributed by the International Olympic Committee is not enough to reassure the tennis world. The Women's Tennis Association is suspending all tournaments in China until it is sure that doubles star Peng Shuai is safe and sound, following the 35-year-old Peng's quickly deleted post on Chinese social media last month denouncing sexual assault by a former vice premier. How far will the ripple effects go?
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