news on china
1/29/2024 07:44pm
Here is the relevant news:1. Weekend China News - Reports of Further Short Selling Restrictions: There are reports that China may impose further short selling restrictions in March. This follows the recent restrictions that have already been implemented. The new restrictions are aimed at foreign exchange trading and are designed to reduce risks for investors. The measures include additional risk and loss exposure, and investors are advised to carefully consider their investment objectives, experience level, and risk tolerance before engaging in foreign exchange trading.2. China's Ambassador to the EU on EV Subsidies Probe: China's ambassador to the European Union, Fu Cong, has called the EU's probe into Chinese electric vehicle manufacturers over state subsidies "unfair." The ambassador has stated that China is cooperating with the EU's probe and is concerned that a trade war may result if both sides resort to punitive tariffs. The EU has launched an investigation into whether to impose punitive tariffs to protect European Union producers against cheaper Chinese electric vehicle imports.3. Iron Ore Prices Bounce: Iron ore prices have risen after China's cabinet pledged to inject more funds into the capital market to stabilize the weak stock market. The most-traded May iron ore contract on China's Dalian Commodity Exchange ended daytime trading with a 1.4% increase, and the benchmark February iron ore on the Singapore Exchange was up by 2%. This rise in iron ore prices is potentially good news for mining companies such as Rio Tinto and BHP, but the outlook for commodity demand remains uncertain.4. China Weighs Stock Market Rescue Package: Chinese authorities are considering a package of measures to stabilize a slumping stock market. The package is expected to involve the mobilization of about $278 billion, mainly from offshore accounts of Chinese state-owned enterprises. The funds will be used to buy shares onshore through the Hong Kong exchange link. Other options are also being considered, and an announcement is expected soon if approved by the top leadership of the country.