China Holdings, Inc. (CHHL)
- The Telegraph
China’s $170bn gold rush triggers Taiwan invasion fears
China has built up a $170bn (£135bn) stockpile of gold after a record buying spree, in a move that has raised fears Beijing is preparing its economy for a possible conflict over Taiwan.
- Reuters
China factory, services activity slows in April, denting economic momentum
"Indicators of business activity in the catering, capital market services and property industries were in contraction," the NBS said in a statement. Another private Caixin factory survey, also released on Tuesday, showed manufacturing activity grew more quickly as new export orders rose. "Both the manufacturing and services PMI indexes are near the line of 50, reflecting that the current momentum of economic expansion is mild," said Zhou Maohua, a macroeconomic researcher at China Everbright Bank.
- Reuters
Exclusive-China firms go 'underground' on Russia payments as banks pull back
To settle payments for its electrical goods, the Guangdong-based company is considering using currency brokers active along China's border with Russia, said the company's founder, Wang, who asked to be identified only by his family name. The U.S. has imposed an array of sanctions on Russia and Russian entities since the country invaded Ukraine in 2022. Now the threat of extending these to banks in China - a country Washington blames for "powering" Moscow's war effort - is chilling the finance that lubricates even non-military trade from China to Russia.
