Economic developing countries news coverage

Huawei’s new chip breakthrough likely to trigger closer US scrutiny, analysts say

Huawei Technologies’ breakthrough in making an advanced chip underscores China’s determination and capacity for fighting back against U.S. sanctions, but the efforts are likely very costly and could prompt Washington to tighten curbs, analysts said. Huawei unexpectedly unveiled the latest Mate 60 Pro smartphone last week during U.S. Commerce Secretary Gina Raimondo’s visit in China, as […]
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China plans to cut stamp duty on stocks by up to 50% to revive confidence-sources

         Summary   Draft proposal submitted to cabinet earlier this month-sources Announcement of cut may come as soon as Friday-sources If finalised, stamp duty cut will be first such move since 2008 Analysts say a cut would be short-term boost to market sentiment  Chinese authorities are planning to cut stamp duty on […]
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China’s Country Garden seeks to delay onshore bond repayment, fanning market fears

Country Garden, China’s largest private developer, is seeking to delay payment on a private onshore bond for the first time, a source said, after suspending trading in 11 onshore bonds, sending its shares plunging to a record low on Monday. Reuters report. Anxiety spread through markets following the worrying news from Country Garden (2007.HK), putting Beijing […]
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Why China could become the luxury industry’s next sore spot

Major luxury brands have invested millions to reach new customers in the two markets, venturing beyond traditional high-end shopping centres to open new stores in places like Wuhan and Zhengzhou, or Charlotte and Nashville. A post-pandemic U.S. splurge had already shown signs of flagging, leaving investors to pin their hopes on Chinese shoppers to sustain […]
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