Chinese President Xi Jinping said Wednesday that China supports an open world economy and pledged further liberalization of its market to foreign investors — even as he touted the benefits of a socialist system at opening of the 19th Communist Party Congress. In a three-and-a-half hour speech both retrospective and forward-looking, Xi discussed China’s progress […]

U.K.-based InterContinental Hotels Group announced Wednesday it is planning to bring two of its hotel brands to China and Asia Pacific in an attempt to capture new breeds of consumers — the wellness enthusiasts and the wealthy. The new brands are Kimpton Hotels and Restaurants, a luxury boutique chain that operates mostly in the United […]

Despite all that the Indian government has done to revitalize the country’s struggling banking sector, one crucial element remains missing from its effort: New Delhi isn’t forking over enough cash. The lack of liquid funds at a time when non-performing assets remain at high levels has incapacitated the banks’ ability to lend and spur investments […]

Online micro-lending company Qudian is about to go public at the New York Stock Exchange on Wednesday, and it’s set to be one of the largest U.S.-listed floats by a Chinese company this year. In its prospectus, Qudian said it was offering 37.5 million American Depository Shares with a float price range of $19-$22 per […]

Chinese President Xi Jinping spoke Wednesday at the beginning of the Communist Party’s once-every-five-year Party Congress. The president told the assembled members of the Communist Party that his nation’s prospects are bright, but it faces severe challenges. Xi touted the success of China in recent years during the address, including what he characterized as overwhelming […]

The dollar climbed and the Dow Jones industrial average cracked a record level ahead of Asia’s Wednesday trading day. The U.S. currency rose to its highest levels in a week as markets speculated over President Donald Trump’s choice of a candidate to succeed Janet Yellen as Federal Reserve Chair. Stanford University economist John Taylor, regarded […]

China’s upcoming Communist Party Congress is about politics more than policy, but investors are still trying to read the tea leaves anyway. The once-every-five-years meeting is set to begin Wednesday, and it’s expected to mark a further power consolidation for President Xi Jinping. But, it may also provide hints about what his administration will do […]

Ten months after President Donald Trump abandoned what was pegged as the world’s biggest trade deal, its surviving participants may be close to a new agreement. Details of a new Trans-Pacific Partnership treaty could emerge next month at an Asia-Pacific Economic Cooperation, or APEC, meeting — the agreed upon deadline by the accord’s remaining participants. […]

North Korea is so weak its economy might not last long under tough United Nations sanctions, a high-ranking defector said Monday in his first public speaking engagement in the U.S. The former insider’s view of dictator Kim Jong Un’s oppressive regime comes just as North Korea’s deputy U.N. ambassador stepped up the tough talk. “Nuclear […]

A spokesman for China’s ruling Communist Party on Tuesday promised Beijing will open its markets further and tried to reassure foreign companies amid mounting U.S. and European trade complaints. Speaking at the start of a key political meeting, Tuo Zhen said the party will “expand our opening” and repeated official promises to protect the “legitimate […]