Purchases of US property by investors from China, Hong Kong and Taiwan combined surged 27% to $6.1 billion in the year to March, and six out of 10 paid in cash, the SCMP reported.

The tally for 2022 bond defaults in China has passed $20 billion, largely because of the debt crisis in the property market. Defaults totaled $9 billion last year.

Xiaomi said the first 100 million phones took five years to sell, but the next 100 million took just three. Chinese companies account for four of the top five smartphone brands in India

The mortgage boycott – said to now affect over 200 projects and 80 developers – is a grave threat to private builders who relied on apartment pre-sales, as many lack funds and face a rocky future

BCA Research expects China's recovery to be U-shaped this year, failing to repeat the V-shaped resurgence that followed lockdowns in 2020 during the early part of the pandemic.

The equivalent of about 1.77 million barrels per day (bpd) of Russian oil were shipped to China, down from May's record of 1.98 million bpd, a level analysts had expected to be maintained

The one-year loan prime rate (LPR) was kept at 3.7%, and the five-year LPR was unchanged at 4.45%, in line with market expectations

Beijing and the EU hold economic, trade talks amid tension over issues including the war in Ukraine, Xinjiang and an as yet unratified investment deal

"As long as employment is relatively sufficient, household income grows and prices are stable, slightly higher or lower growth rates are both acceptable," Premier Li Keqiang said

Officials say penalty will mark end of year-long probe into group's operations, cybersecurity practices and handling of personal data. Didi would then be able to list in Hong Kong, report says.

The world's largest battery maker has reportedly been considering at least two potential sites where it can establish facilities to supply batteries to Tesla and Ford.

The drop was triggered by concerns over future outbreaks of Covid-19 and the risk they pose for new lockdowns, as well as rising costs, S&P Global Market Intelligence said.