China will cut subsidies on new energy vehicles (NEV) such as electric cars by 10% this year, the finance ministry said, following a decision last month to continue providing incentives to buy clean energy vehicles.
China’s central bank has ordered banks in the southern city of Shenzhen to investigate business loans collateralised with real estate made this year, as the city’s housing market heats up rapidly, two banking sources said on Monday.
Global stock markets sank on Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply.
China’s loans surged as coronavirus stimulus kicked into save the economy. New bank lending in China rose sharply to 2.85 trillion yuan ($405 billion) in March, with total social financing hitting a record,
China’s auto sales fell at a slower rate in March and industry experts expect a pick-up in the second half. Automobile sales in China plunged an annual 43.3% in March, a data showed,
India has stepped up scrutiny of investments from companies based in neighbouring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak.
The world is heading for a shortage of the highly prized and super-soft cashmere wool as pashmina goats that live on the "roof of the world" become caught up in the fractious border dispute between nuclear neighbours India and China.
Over the weekend, crowds packed a former industrial warehouse in Beijing as the China fashion Week got underway, with models strutting mask-less on a square runway and guests oblivious to social distancing norms.
Dzekyid, a 54-year-old barley farmer, presents himself as a role model for his neighbours and for the success of China’s efforts to tie economic development to social control in Tibet.