Chinese firms News

The Bank of Tanzania took over the operations of CCB on November 19, 2020, quoting the failure of the Chinese bank to meet regulatory requirements The actual reason for this take over was the unexplainable discrepancy in the CCB’s accounts, found during an audit conducted by the BoT The Bank had shown cash of Tanzanian Shilling 20bn and Chinese Yuan 2 mn in their possession on papers, whereas actually, they were having cash of Tanzanian Shilling 250 billion and Chinese Yuan 20 million.

India's plans to ban Chinese power firms due to concerns over cyber-attacks could backfire on India even though the move would cause losses to companies from China, a report in a state-run daily said on Thursday.

China invested more money abroad last year than foreign firms piled into the country, data showed today, a first for the world's second largest economy as Beijing looks overseas as part of its drive to transform its economic growth model.

The pharmaceutical arm of Chinese conglomerate Fosun plans to buy a majority stake in India`s Gland Pharma Ltd. for as much as $1.26 billion, in what is being touted as the biggest Indian acquisition by a Chinese company.  

China's action in the UN on India's bid in the wake of terror strike at the Pathankot airbase has infuriated New Delhi.

 Chinese firms are looking to invest in India's infrastructure projects, a senior official said here"More Chinese firms are looking to invest in infrastructure projects.

US aerospace giant Boeing has reached deals with Chinese firms to sell 300 aircraft and open a completion centre in the Asian country, China's official Xinhua news agency reported, as President Xi Jinping began his first state visit to the United States.

The dramatic collapse of China`s stock markets has shaken global investors, but for Chinese factory executives the real problem is a decline of another kind - the remorseless erosion of profits thanks to nearly four years of price deflation.

Bharti Airtel on Saturday said it has received financing commitments of up to USD 2.5 billion from China Development Bank and Industrial and Commercial Bank of China, with an average maturity of about nine years.

Infosys chief executive officer Vishal Sikka on Saturday said that India and China working together would create a pool of opportunities, concurring with Prime Minister Narendra Modi`s vision with regards to a partnership between the two nations.

Reaching out to Chinese investors, Prime Minister Narendra Modi on Saturday asked them to take advantage of the "winds of change" in India with a much more transparent, responsive and stable regulatory regime even as leading firms from the two sides signed deals worth USD 22 billion.

As many as 26 business agreements worth over USD 22 billion were signed Saturday between Indian firms -- including Adani group, Bharti Airtel and Welspun -- and thier Chinese counterparts on the last day of Narendra Modi's three-day visit to China.

Prime Minister Narendra Modi on Saturday met the CEOs of top Chinese firms, including Alibaba`s Jack Ma here and invited them to participate in the `Make in India` initiative.

Chinese firms are teaming with Indian companies to jointly bid for five high-speed railway projects in India in an apparent attempt to compete with Japan's plans to build bullet trains.