As if the yuan wasn’t already under pressure from the weak Chinese economy, a surging dollar and the prospect of higher US tariffs, the currency faces an additional downdraft: a flood of money looking to invest overseas. China’s capital account, which tracks flows of capital in and out of the country, saw a record outflow…
Caravans of sand-filled trucks and bright red cranes punctuate the skyline of a rapidly expanding industrial complex in northern Vietnam. Further south in Malaysia, quiet villages and palm oil plantations are metamorphosing into heavy-duty technological manufacturing estates. As multinationals, governments and startups rush to develop AI, establish chipmaking hubs and carve out access to raw…
China is taking further steps to attract foreign money just days before US elections that have raised concern about the impact on the world’s second-biggest economy from a return of Donald Trump to the White House. Foreign individuals are now allowed to provide capital for publicly traded firms as strategic investors, the China Securities Regulatory…
In 2015, China identified several key industries of the future for which it aimed to compete at the technological frontier. The ‘Made in China 2025’ plan included expansion in things like EVs, solar power, batteries, semiconductors, AI, and drones. But now, 2025 is almost here and China’s progress has been remarkable across several of these…
Encouraging Chinese companies to set up joint ventures abroad may be Beijing’s only way out of its trade imbalances with Western countries, according to a Chinese foreign trade expert. Speaking at a round table event in Beijing on Friday, Huo Jianguo, former head of a think tank under China’s Ministry of Commerce, told representatives of…
Hong Kong is zeroing in on rich Middle Eastern investors as it looks for new pools of capital to boost its status as a wealth-management hub. Interest groups in the city have invited more and more guests from the Gulf’s ultra-wealthy clans and family-linked entities over the past two years at a pace unseen before…
BEIJING (Reuters) – Foreign direct investment into China amounted to 580.19 billion yuan ($81.80 billion) in January-August, down 31.5% from the same period last year, the Chinese commerce ministry said on Saturday. The slump was bigger than the 29.6% fall during Jan-July. ($1 = 7.0930 Chinese yuan renminbi) (Reporting by Ellen Zhang and Ryan Woo;…
Hong Kong’s reputation as a top-tier global financial hub has taken another hit. A recent US advisory is urging American companies operating there to consider the legal and regulatory risks they may face, including possible sanctions violations. Doing business in the city, the alert argues, is the same as operating on the mainland, because of…