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China says Evergrande risks are 'controllable' in first comments since debt crisis

Feature China/Barcroft Media via Getty Images) China's central bank on Friday said the ripple effects of the Evergrande Group crisis that roiled global markets are "controllable." They were China's first comments since Evergrande missed a series of international bond payments. Most recently, Evergrande missed the third round of interest payments on global bonds due Oct. 11. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. A China central bank official on F...
Tags: China, US, Trends, Markets, Bloomberg, People s Bank of China, Pboc, Evergrande, Zou, Evergrande Group, Getty Images China, Evergrande Health, Feature China Barcroft Media, Isabelle Lee, MI Exclusive, Evergrande China


China is preparing to test thousands of blood samples in Wuhan to uncover the origins of COVID-19

A cinema in Wuhan is disinfected as the area moved to reopen during the COVID-19 pandemic on July 20, 2020. Getty Images China is preparing to test thousands of blood samples in Wuhan to uncover the origins of COVID-19. Up to 200,000 samples spanning 2019 are kept in the Wuhan Blood Center, CNN reported. Wuhan is thought to have been the location of the first COVID-19 infections in humans. China is preparing to test thousands of blood samples in Wuhan to uncover the origins of COVID-19, C...
Tags: Science, News, China, US, Trends, Cnn, Who, World Health Organization, Columbia University, Wuhan, Hubei Province, Wuhan China, Jake Epstein, Getty Images China, Yanzhong Huang, Coronavirus


The Evergrande saga 'is the beginning of the end of China's growth model as we know it,' one consultant says. It means the whole world economy will change.

Workers walk in front of the Evergrande headquarters in Shenzhen, southeastern China on September 26, 2021. NOEL CELIS/AFP via Getty Images Evergrande's looming collapse would be a shift in the story of "capitalism with Chinese characteristics." Xi Jinping has been centralizing power for years, and is now cracking down on firms that have racked up too much debt. The problem for Xi and China is the debt-fueled real-estate sector has also led much of China's growth, and the world has...
Tags: Hong Kong, New York, China, US, Trends, Joe Biden, Xi Jinping, Party, Biden, Morgan Stanley, Shenzhen, Miller, Trump, Afp, Xi, Evergrande


Evergrande may just be the tip of the iceberg. It's one of 4 major warning signs flashing for the global economy.

Evergrande is China's second-biggest property developer. Noel Celis/Getty Images China's Evergrande is spooking markets and the global economy faces a range of threats that could derail recovery. Soaring energy prices are disrupting production; in the background the US and China still aren't getting along. With growth slowing and prices hitting multiyear highs, economists are talking about the dreaded "stagflation." See more stories on Insider's business page. The name Ever...
Tags: Apple, Europe, Senate, China, Politico, US, Trends, Bank Of England, Federal Reserve, Jack Ma, Lehman Brothers, House Financial Services Committee, Didi, US China, Evergrande, Federal Reserve Chair


China is working on a next-generation fighter jet for its growing fleet of aircraft carriers and could unveil it this year

A man looks at a stealth fighter plane model designed by Aviation Industry Corporation of China (AVIC) at an aviation expo. WANG ZHAO/AFP via Getty Images China is working on a next-generation fighter jet for its growing aircraft carrier fleet. The chief designer of the current carrier-based fighter said this week the new jet could be revealed this year. There has long been speculation about what China's next-generation aircraft will look like. See more stories on Insider's busines...
Tags: Navy, China, Russia, US, International, Trends, Aircraft Carrier, Ford, Shanghai, San Diego, Cctv, Pacific Ocean, US Navy, PLA, Plan, Wuhan


China's manufacturing activity shrinks in September, running at its slowest pace since the start of the pandemic due to the country's energy crunch

Wang Jilin / Costfoto/Barcroft Media via Getty Images China's manufacturing activity shrank in September, as the power crisis hit factories, official data showed Thursday. The official manufacturing PMI fell to 49.6 from 50.1, dropping into contraction for the first time since the start of the pandemic. Goldman Sachs estimates nearly half of China's industrial activity has been affected by power cutbacks. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Ch...
Tags: China, Trends, Markets, Bloomberg, Economy, Asia Pacific, Shanghai, Electricity, Goldman Sachs, Manufacturing, PMI, Getty Images China, OANDA, Barcroft Media, China PMI, Manufacturing PMI


The Great Firewall of China blocks access to two ultra-popular crypto data sites for users based in the mainland

OZAN KOSE/AFP via Getty Images China's internet firewall has blocked access to crypto data sites CoinMarketCap and CoinGecko. Websites that don't comply with government regulations have been blocked under the Great Firewall of China in the past. Cryptocurrencies are seen as a threat to China's model of centralized control and its efforts for a digital yuan. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. People in mainland China don't have access ...
Tags: China, Trends, Beijing, Ozan Kose, Facebook Google, Getty Images China, Shalini Nagarajan, Lee CoinGecko, Bybt


China banned all crypto transactions on Friday, but experts say the move was mostly priced in for bitcoin

Budrul Chukrut/SOPA Images/LightRocket via Getty Images China's ban on crypto transactions sent the price of bitcoin lower, but the moved was relatively small. An expert said the move had mostly been priced in. Bitcoin hovered near $40,000 on Friday, a slide of around 6% in the past 24 hours, as of publishing. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. China on Friday intensified its crackdown on digital assets by banning all cryptocurrency transactio...
Tags: China, US, Trends, Bitcoin, Bank, Frost, Coindesk, People s Bank of China, MicroStrategy, Bitstamp, Getty Images China, Fulford, Michael Saylor, Isabelle Lee, Opening Bell China, Tim Frost


China is eyeing Russian attack helicopters to give its 'mini aircraft carriers' more punch

A visitor poses with a Ka-52K attack helicopter at the MAKS-2021 airshow outside Moscow, July 25, 2021. Bai Xueqi/Xinhua via Getty Images China has struggled to develop its own combat choppers for its new amphibious assault ships. A deal for Ka-52K helicopters would signal closer Sino-Russian defense ties amid tensions with the US. See more stories on Insider's business page. China is considering buying three dozen Russian naval attack helicopters, a purchase that would "give wings" to...
Tags: Navy, China, Russia, US, Trends, Beijing, Moscow, Cctv, PLA, South China Sea, Moscow Russia, Far East, South China Morning Post, Russian Navy, People s Liberation Army, Zhou


Tencent-backed podcasting giant Ximalaya drops plans for US IPO after Chinese regulators pressured it to list in Hong Kong

Great Hall of the People in Beijing, China. Du Yang/China News Service via Getty Images) China's biggest podcasting platform Ximalaya announced on Thursday that it was abandoning US IPO plans. After Ximalaya filed for a New York IPO in April, regulators began urging the company to shift its listing to Hong Kong. Ximalaya may have worried regulators on account of its troves of user data. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. China's biggest podcas...
Tags: Hong Kong, New York, China, Ipo, US Ipo, US, America, Trends, Markets, Podcasting, Tencent, SEC, Reuters, Beijing China, Great Hall of the People, Didi


China is irritating more countries in Asia, but the US is struggling to come up with a better offer

Vietnamese Prime Minister Pham Minh Chinh with Vice President Kamala Harris in Hanoi, August 25, 2021. MANAN VATSYAYANA/POOL/AFP via Getty Images China's aggressive foreign policy has turned off many of its neighbors. US officials have noted this trend, describing it as a miscalculation by Beijing. But experts say the US still doesn't have Indo-Pacific strategy or a better offer than China. See more stories on Insider's business page. China's aggressive foreign policy has f...
Tags: Asia, Japan, Australia, White House, China, Southeast Asia, Singapore, Defense, US, International, America, Trends, Ap, Taiwan, Beijing, United States


Beijing will establish a stock exchange focused on smaller businesses, says China's President Xi

Chinese President Xi Jinping speaking in June 2021. Ding Lin/Xinhua via Getty Images China will open a stock exchange in Beijing to foster development of small- and medium-sized businesses. Xi's announcement did not include when the new exchange based in the capital city will open. The exchange will support innovation-oriented companies, Xi said in an address to a trade fair. See more stories on Insider's business page. China will set up a new stock exchange in the capital city...
Tags: Hong Kong, China, US, Trends, Markets, Beijing, Xi Jinping, Shanghai, President Xi Jinping, Shenzhen, Stock Exchange, Communist Party, Mainland China, Xi, SMEs, Carla Mozee


Chinese official's criticism hints at concern about all the US weapons the Taliban just captured

A helicopter displays a Taliban flag to celebrate the US withdrawal from Afghanistan, in Kandahar, September 1, 2021. JAVED TANVEER/AFP via Getty Images China's envoy for disarmament affairs called out a country that "abuses the arms trade as a political tool" in what may be a reference to US arms sales to Taiwan. China's caution about illicit arms transfers comes as the Taliban takes control of US weapons in Afghanistan, deepening worries about spillover violence in China's...
Tags: Isis, Washington, China, Russia, US, Trends, Taiwan, Afghanistan, Beijing, Taliban, Nato, Terrorism, Att, Kabul, Geneva, Biden


China cuts video game time for kids to 3 hours each week

Michael Kraus/EyeEm/Getty Images China is imposing a strict time limit on video game playing for children. Kids are allowed one hour for gaming, from 8 to 9 p.m., on Friday, Saturday, and Sunday. The restrictions are further cutting back the already limited time kids in China have to play games. Visit the Business section of Insider for more stories. In China, people under 18 are having their gaming time cut to just three hours each week - one hour on Friday, one on Saturday, and one on S...
Tags: Gaming, Kids, Video Games, Children, Entertainment, China, Trends, Tencent, World Health Organization, League Of Legends, Epic Games, NetEase, South China Morning Post, Ben Gilbert, Tech Insider, Michael Kraus


The Taliban's return to power has China worried about the remote strip of land that connects the 2 countries

A Wakhi man looks out to the mountains in Afghanistan's Wakhan Corridor, which borders China. Tom McShane/Loop Images/Universal Images Group via Getty Images China has always been wary of the narrow, isolated strip of Afghan land high in the mountains becoming a conduit for Uygur militancy in Xinjiang. The Taliban's coming to power in Afghanistan has compounded China's worries of a spillover, given the militant Islamic group's ties with the ETIM group. See more stories on I...
Tags: Post, China, India, US, Trends, Afghanistan, Beijing, Taliban, Pakistan, Kabul, UN Security Council, Xinjiang, Kashmir, Tajikistan, Wang Yi, Tianjin


China's crackdown on crypto slashed competition for North American bitcoin miners - and earnings are soaring to record highs as a result

Bitcoin mining is viewed at BitFarms in Saint Hyacinthe, Quebe LARS HAGBERG/AFP via Getty Images China's crackdown on cryptocurrency mining gave miners outside the region tremendous opportunities for growth. Second-quarter earnings reveal that non-Chinese mining firms crushed revenues and produced more bitcoin during the quarter. The CEO of one firm said his market share grew in the quarter as a direct result of the China crypto mining ban. Sign up here for our daily newsletter, 10 Thi...
Tags: London, China, US, Trends, Markets, Crypto, Afp, Thiel, Bitcoin mining, Getty Images China, Argo Blockchain, Block Crypto, Emily Graffeo, Riot Blockchain Stock, MI Exclusive, Bitcoin Mining Stocks


China says a media worker collapsed in the break room and died as a result of the country's brutal '996' work culture - and now the state is promising to clamp down on unpaid overtime

Office workers walk along a street during lunch time in Beijing Nicolas Asfouri/AFP via Getty Images China has produced a document that it says highlights the dangers of some companies' "996" work culture. 996 refers to people working 9 a.m. until 9 p.m., six days a week. The practise has come under fire from workers, some companies, and now the state. See more stories on Insider's business page. China says a media worker collapsed in a company break room and later died from heart ...
Tags: News, China, Careers, Trends, Bloomberg, Beijing, Xi Jinping, Alibaba, Jack Ma, Wellbeing, Afp, Ma, Stephen Jones, Supreme People s Court, Tech Insider, Work Culture


China intends to ban US stock listings for tech companies with vast troves of sensitive user data, report says

VCG via Getty Images China wants to ban data-rich companies from listing in the US, The Wall Street Journal reported. Companies with less sensitive data are still likely to receive regulatory approval, the report said. The SEC has frozen US listings of Chinese companies until they meet new disclosure requirements. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. China wants to impose new rules to prohibit tech companies that hold vast amounts of sensitive data fro...
Tags: China, US, Trends, Beijing, SEC, Goldman Sachs, Wall Street Journal, Journal, Cayman Islands, Gensler, Virgin Islands, Gary Gensler, VCG, Alibaba Tencent, Getty Images China, Caymans


China's 'old-fashioned' fighter-bomber can still be a terror on modern battlefields

A Chinese JH-7 fighter-bomber over Hangzhou, February 5, 2020. NOEL CELIS/AFP via Getty Images Two years ago, China unveiled a new variant of its JH-7A maritime strike jet, which has been in use since the late 1980s. Despite seeming old-fashioned compared to modern strike jets, the JH-7's ability launch powerful long-range weapons means it still poses a threat. See more stories on Insider's business page. On August 8, 2019 Chinese media reported that the People's Liberation Ar...
Tags: France, China, Russia, US, Trends, Beijing, United States, Nato, Shanghai, Jaguar, Pacific, PLA, Hangzhou, Mach, Afp, Shandong


China targets internet giants with new competition rules, putting pressure on tech shares

China's latest census hinted that the country might face a demographic crisis down the road, as it contends with an aging work force and falling birth rates. Costfoto/Barcroft Media via Getty Images China's competition regulator published a draft version of rules for internet businesses Tuesday, Reuters reported. Chinese tech stocks fell as investors fretted about Beijing intensifying its regulatory crackdown. The proposed rules aim to stamp out fake reviews, stop hijacks of custom...
Tags: Hong Kong, New York, China, Trends, Beijing, Alibaba, Tencent, Reuters, Getty Images China, State Administration, Sophie Kiderlin, Hong Kong Its US


Goldman nabs AWS exec - Wall Street all-in on cloud - China's indefinite crackdown

Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go - click here for iOS and here for Android.On the agenda today:Goldman Sachs just hired a top engineer from Amazon Web Services. Wall Street is all-in on the cloud - but one thing stands in the way of its widespread adoption.China has signalled that its tech crackdown is nowhere near over. Let's get started. Goldman Sachs just poached an AWS exec Michael Kovac/Getty...
Tags: China, US, Trends, Crypto, Aws, Warren Buffett, Goldman Sachs, Kpmg, Goldman, Wall Street Journal, Amazon Web Services, Nubank, Blackrock, Buffett, Invesco, LA County


China signals its tech crackdown isn't ending anytime soon - and calls for tougher rules in other key industries

Costfoto/Barcroft Media via Getty Images China's tech crackdown will likely persist, a five-year plan on Wednesday showed. New laws will be drafted for other areas including national security, monopolies, and education. China's targeting of various industries has spooked investors, hitting stocks. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. China issued a five-year blueprint on Wednesday that suggests its crackdown on the tech sector isn't subsidi...
Tags: Asia, China, US, Trends, Beijing, Alibaba, Jack Ma, Wuhan, Nyse, Ives, Didi, Getty Images China, China s State Council, Laszlo Birinyi, Communist Party s Central Committee, Dan Ives


The Ever Given incident is a warning about what Russia and China are capable of, top Democrat warns

The eontainer ship Ever Given stuck in the Suez Canal, March 27, 2021. Kristin Carringer/Maxar The Ever Given container ship getting stuck in the Suez Canal was a billion-dollar disruption to global trade. The incident also illustrated an overlooked maritime threat, Rep. Elaine Luria said this month. That threat is growing, especially as China expands its presence at chokepoints around the world, Luria said See more stories on Insider's business page. The container ship Ever Given gett...
Tags: Congress, China, Russia, India, Africa, International, Trends, Beijing, Nato, Cia, Panama Canal, Pacific, US Navy, Panama, Malacca, Atlantic Ocean


The Even Given incident is a warning about what Russia and China are capable of, top Democrat warns

The eontainer ship Ever Given stuck in the Suez Canal, March 27, 2021. Kristin Carringer/Maxar The Ever Given container ship getting stuck in the Suez Canal was a billion-dollar disruption to global trade. The incident also illustrated an overlooked maritime threat, Rep. Elaine Luria said this month. That threat is growing, especially as China expands its presence at chokepoints around the world, Luria said See more stories on Insider's business page. The container ship Ever Given gett...
Tags: Congress, China, Russia, India, Africa, International, Trends, Beijing, Nato, Cia, Panama Canal, Pacific, US Navy, Panama, Malacca, Atlantic Ocean


A missile race is heating up all across Asia

Chinese DF-26 ballistic missiles in a parade for the 70th anniversary of the end of World War II, in Beijing, September 3, 2015. Andy Wong/Pool via REUTERS The apparent growth of China's ICBM force has received international attention in recent weeks. That growth is only one facet of China's rapid and ongoing military expansion. That expansion worries China's neighbors, which are now expanding their own missile arsenals. See more stories on Insider's business page. Recent r...
Tags: Asia, South Korea, Japan, Australia, China, India, US, International, Trends, Taiwan, Beijing, Philippines, Hawaii, Tokyo, Canberra, Scott Morrison


China's $5.6 billion high-speed railroad has opened up in Tibet. Its electric bullet trains are racing 250 miles across the country.

A Fuxing bullet train runs along the Lhasa-Nyingchi railway on June 24, 2021 in Shannan, Tibet Autonomous Region of China Jiao Hongtao/VCG via Getty Images China opened up a new high-speed railroad that connects cities with an electric bullet train. Passengers can travel from Tibet's capital, Lhasa, to the city of Nyingchi in three and a half hours. The train will travel 160 km/h down the 250-mile railroad, which crosses the Tibet countryside. See more stories on Insider's business...
Tags: Tibet, China, Trends, Cnn, Getty Images, Xi Jinping, Xinhua, Lhasa, Jiang, VCG, Shannan, Brahmaputra, Getty Images China, Fuxing, Nyingchi, Yarlung Zangbo Grand Canyon


We spoke to 4 experts about the key themes for crypto for 2021 - from regulation, to price volatility, and growing everyday use

Edward Smith/Getty Images China's bitcoin mining crackdown and troubles with state regulators spooked some crypto investors. One expert said many governments are trying to regulate a sector they don't fully understand. Here's what could be in store for cryptocurrencies for the remainder of 2021. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrency prices have been somewhat quiet this month against a backdrop of increased scrutiny from regula...
Tags: China, Trends, State, NFT, Pape, Diogo Monica, Getty Images China, Edward Smith, Colin Pape, Binance, Matthew Gould, Shalini Nagarajan, Anchorage More


China's air force has big plans for its biggest planes

Eleven Y-20s delivering medical workers and supplies to Wuhan, February 13, 2020. TPG/Getty Images China's rapidly growing military has impressed and worried its rivals. China's strategic airlift fleet is the fastest-growing in the world. That fleet's expansion reflects Beijing's broader military ambitions. See more stories on Insider's business page. China's rapidly growing military has added dizzying numbers of ships and aircraft, but the fastest-growing platform ...
Tags: China, India, International, Trends, Beijing, Malaysia, Pentagon, PLA, Wuhan, Guangdong, South China Sea, Djibouti, Heath, South China Morning Post, Spratly Islands, People s Liberation Army


China will release more metals stockpiles in an effort to control soaring commodities prices

An employee produces copper wires at Nanjing Gree Electric Enterprise Co. in China. Fang Dongxu/VCG via Getty Images China is pumping copper, aluminum, and zinc into commodity markets to tamp down soaring prices. The move, first reported by Bloomberg, comes as commodity prices have marched steadily upward for months. But Wednesday's commodity reserves dump is just a fraction of the country's estimated reserves. Sign up here for our daily newsletter, 10 Things Before the Opening Be...
Tags: China, Trends, Markets, Bloomberg, Commodities, Aluminum, Citibank, Copper, Zinc, VCG, Getty Images China, MI Exclusive, Opening Bell China, Ethan Wu, Nanjing Gree Electric Enterprise Co, China Fang Dongxu


China says the Wuhan virus lab deserves a Nobel Prize. Meanwhile the US is trying to figure out whether it leaked the coronavirus.

The P4 laboratory at the Wuhan Institute of Virology in China. HECTOR RETAMAL/AFP via Getty Images China is fighting the theory that the coronavirus escaped from the Wuhan Institute of Virology. The foreign ministry said last week that scientists there should be awarded the Nobel Prize. The lab leak theory was once widely dismissed, but it has recently gained new traction. See more stories on Insider's business page. China is calling for the Wuhan Institute of Virology to win a Nobel P...
Tags: Politics, Science, China, US, Trends, Joe Biden, News UK, Wall Street Journal, Wuhan, Journal, Zhao, Global Times, Getty Images China, Hector Retamal, Wuhan Institute of Virology, Coronavirus