The rags-to-riches rise of a fiercely anti-Communist Hong Kong tycoon.
Asian markets mostly rose Monday, with investors keeping a wary eye on China-US trade talks planned for the weekend, which come after Washington imposed sanctions on several Hong Kong officials, further straining tensions between the superpowers. Adding to uncertainty was US lawmakers' inability to find common ground on a much-needed, new stimulus for the world's top economy, with executive orders signed by Donald Trump considered sticking plasters for a crippling crisis. Washington on Friday hit a group of Chinese and Hong Kong officials -- including the city's leader Carrie Lam -- with sanctions in the latest salvo in a row linked to Beijing's decision to impose a security law on the...
China's factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels, adding to signs of recovery in the world's second-largest economy. The producer price index (PPI) fell 2.4% from a year earlier in July, the National Bureau of Statistics (NBS) said in a statement, compared with a 2.5% decline tipped in a Reuters poll of analysts and a 3.0% drop in June. Analysts say China's industrial output is steadily returning to levels seen before the pandemic paralysed huge swathes of the economy, as pent-up demand, government stimulus and surprisingly resilient exports propel a recovery.
TAIZHOU, China/SHANGHAI (Reuters) - Chinese carmaker Geely plans to use a platform developed with input from Volvo to build new models in Malaysia for its partly owned Proton brand, a strategy that shows how it aims to accelerate its push to become China's first global auto giant. The yet-to-be-finalised plans for Proton are just one strand of a Geely project to revamp factories at home and abroad using joint platforms it has been perfecting with Volvo since 2013. Geely bought the Swedish brand 10 years ago for $1.8 billion (1.4 billion pounds) - a deal that raised its international profile and sent shockwaves through the global auto trade.