Beijing has leveled damning accusations against Evergrande, one of China’s largest real estate developers, alleging that the company inflated its revenues by a staggering $78 billion. This revelation could mark one of the biggest fraud cases in Chinese history.
China’s stock market saw a significant jump in trading activity as Beijing announced its target of achieving 5% GDP growth for the upcoming year. This news has spurred optimism among investors, leading to a surge in the prices of Chinese stocks.
China’s stock market witnessed a substantial surge in trading activities after the Beijing government announced its plan to stimulate investment by increasing state-led buying. The move comes as the country seeks to further strengthen its economy, which has shown signs of rebounding despite the global pandemic.
The stability of China’s stock markets has been under scrutiny over the past few months. Reports suggest that investors, both domestic and foreign, are increasingly pulling out of Beijing’s stock exchanges. This shift in investor sentiment has raised concerns about the future of China’s economy and the ramifications it could have on global markets.
China has strongly criticized the United States’ recent move to scrutinize its role in the global supply chain for legacy semiconductor chips. The Chinese government has expressed its firm opposition to such actions and believes it is an unfounded attempt to undermine China’s position in the technology sector.
