Yicai Global

Yicai Global serves as the English-language news division of Yicai (yicai.com), which is the foremost financial news organization located in Shanghai, China.

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China’s KMCJNC Soars on New USD265 Million Phosphate Chemical Project in Egypt

6 days ago | yicaiglobal.com | Tang Shihua

(Yicai) April 18 -- Shares of Chuan Jin Nuo Chemical surged after the Chinese producer of phosphate chemicals, which nearly quadrupled its net profit in the first quarter, announced a CNY1.9 billion (USD265 million) plan to build a factory in Egypt to reduce its raw material and export costs.
Chinese Industrial Firms' Value-Added Growth Hits Nearly Four-Year High in March

6 days ago | yicaiglobal.com | Zhu Yanran |Zhang Yushuo

(Yicai) April 18 -- China’s industrial added value surged in March at its fastest pace in nearly four years, with the industrial sector contributing over 36 percent to the nation's gross domestic product growth in the first quarter, underscoring the vital role of manufacturing, mining, and utilities in supporting economic expansion.
Nvidia's Jensen Huang Pays Second Visit to China This Year in Hope to Keep Solid Cooperation

6 days ago | yicaiglobal.com | Qian Tongxin |Zhang Yushuo

(Yicai) April 18 -- Jensen Huang, chief executive officer of US chip giant Nvidia, has returned to China for a second visit this year, hoping to maintain cooperation with the world's second-largest economy, China Central Television News reported. Huang, who is also president and co-founder of Nvidia, met with Chinese Vice Premier He Lifeng and Ren Hongbin, chairman of the China Council for the Promotion of International Trade, according to reports by CCTV News and Xinhua News Agency.
New Sci-Tech Innovation Salon Opens in Shanghai, Aiming to Boost Integrated Development

1 week ago | yicaiglobal.com | Xu Wei

(Yicai) April 17 -- A new salon dedicated to innovation in science and technology kicked off in Shanghai today, offering a high-end dialogue platform that brings together government, businesses, researchers, and investors. Launched at the Shanghai Zhangjiang Science Hall, the Zhangjiang Sci-Tech Innovation Salon will help to boost the profile of Zhangjiang as a center for science and tech innovation, the committee for Pudong New Area, where it is located, said via its official WeChat account.
China’s Nuo Capital to Acquire Italian Coffee Pot Maker Bialetti

1 week ago | yicaiglobal.com | Zhang Yushuo

(Yicai) April 17 -- Nuo Capital, an investment fund headed by Hong Kong entrepreneur Stephen Cheng, has struck a deal to acquire Bialetti Industrie, the Italian company famed for its iconic octagonal moka coffee pots. Nuo Capital will buy a 78.6 percent stake in Rome-based Bialetti for EUR53 million (USD60.4 million), the two companies announced yesterday, adding that the deal is subject to regulatory approval.
Chinese Yuan Holds Steady Versus Dollar, as Currency Basket Index Is Set to Slide Further, Analysts Predict

1 week ago | yicaiglobal.com | Zhou Ailin

(Yicai) April 17 -- A weaker US dollar has eased pressure on the Chinese yuan against the greenback, but analysts expect the yuan to continue a moderate decline against a basket of other major currencies, particularly the euro and Japanese yen, as reflected by the CFETS RMB Index, helping to underpin export competitiveness.
PBOC to Facilitate Smoother Yuan Settlements in Malaysia and Cambodia, CNS Reports

1 week ago | yicaiglobal.com | Xu Wei

(Yicai) April 17 -- China’s central bank will continue refining cross-border policies to streamline yuan settlements in Malaysia and Cambodia, China News Service reported today. The People’s Bank of China aims to foster a more convenient and business-friendly environment for companies in both Southeast Asian countries to conduct foreign trade and investment transactions in yuan, according to the state news agency.
US’ Top Three Major Creditors Hike Their US Treasury Holdings in February

1 week ago | yicaiglobal.com | Xu Wei

(Yicai) April 17 -- The United States’ three largest creditors -- Japan, China, and the United Kingdom -- all increased their holdings of US Treasury bonds in February. China’s holdings of US Treasuries rose by USD23.5 billion to USD784.3 billion in February from the previous month, according to data released yesterday by the US Department of the Treasury. The country has been holding less than USD1 trillion US Treasury bonds since April 2022.
TikTok's Sister App Douyin to Cut Commissions, Offer Interest-Free Loans to Foreign Traders

1 week ago | yicaiglobal.com | Liao Shumin

(Yicai) April 17 -- Douyin, the Chinese version of TikTok, said it will launch a special support program for foreign sellers of premium goods, including lowering commission fees and offering interest-free loans to ease cash flow pressures to help them expand into the domestic market. Douyin will open exclusive entry channels for foreign traders aiming to shift to China sales, the short-video platform announced yesterday.
Alibaba Cloud to Upgrade World’s Biggest Wholesale Market’s Digital Infrastructure

1 week ago | yicaiglobal.com | Tang Shihua

(Yicai) April 16 -- Alibaba Cloud, the cloud computing arm of tech giant Alibaba Group Holdings, has won a major contract to upgrade the digital infrastructure of the world’s largest small commodities market with the aim of turning the Yiwu International Trade City into a global hub for small goods data trading and to make its services more user- and vendor-friendly.