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The PetroChina logo is displayed on a smartphone screen. Photo: Shutterstock
PetroChina

PetroChina’s first-half profit jumps 22% despite Iran war oil supply crunch

As LNG and EV adoption bite into traditional fuel sales, higher global crude prices help the state-backed giant deliver strong earnings.

Gold in Hong Kong

In Focus | Hong Kong is trying again to be a gold trading hub. Will it succeed this time?

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Gold in Hong Kong

Hong Kong gold imports fall 18% in July as mainland giants rush to build vaults

Yuan

How a China gold vault network could promote the yuan’s international reach

By anchoring yuan trades to gold through Hong Kong and new global vaults, Beijing will add convertibility to its currency, report says.

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As of the end of July, China’s gold reserves stood at 76.08 million ounces, marking the 21st consecutive month of accumulation. Photo: dpa
As of the end of July, China’s gold reserves stood at 76.08 million ounces, marking the 21st consecutive month of accumulation. Photo: dpa
US Federal Reserve

US Treasury bond buy-back reinforces gold debasement trade ahead of Jackson Hole

Treasury buy-backs bolster gold’s rally as investors await US Federal Reserve’s annual meeting at Jackson Hole.

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Gold in Hong Kong

HKEX gold futures smash delivery record as US sanctions reshape trade

The milestone more than doubles the previous peak recorded in 2018.

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Banking & finance

Hong Kong taps tech strength in joint venture to power gold settlement

Alibaba Cloud among partners chosen to create a platform for Hong Kong’s gold clearing and settlement system next year.

Gold bullion bars. Photo: AP
Gold bullion bars. Photo: AP
Banking & finance

Reduce your exposure to US assets before they lose value, Swiss bank warns

Swiss private bank says structurally high inflation and government deficits will erode value of US dollar and Treasuries over the next decade.

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Gold in Hong Kong

Why Fed moves trump geopolitical risks, China gold buying in analysts’ forecasts

Bullion forecasts have softened, LBMA’s survey shows, despite the World Gold Council reporting unprecedented demand in second quarter.

Gold in Hong Kong

Gold’s price potential still ‘explosive’ amid Beijing hoarding

Rising demand from central banks to drive a rebound despite temporary downside pressure from energy and interest rates, Goldman Sachs says.

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South Korea’s central bank announced earlier this week that it would end a 13-year hiatus on gold purchases. Photo: Reuters
Commodities

China’s commodities footprint guards against global energy shocks: Goldman Sachs

Analysts at investment bank say Beijing has become de facto ‘volatility arbiter’ for global commodity markets.

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Gold bars and coins. Photo: dpa
Gold bars and coins. Photo: dpa
Banking & finance

China’s CIPS to become settlement norm in Mongolia within 2 years: Golomt Bank

Six months after Golomt adopted the technology, 96 per cent of yuan payments moved from Swift to China’s payment system, the bank says.

Electric & new energy vehicles

Rising raw material costs hit Chinese carmakers’ profit margins, price war plans

Net earnings from the sale of a 100,000 yuan car now stand at just 1,500 yuan, according to China Association of Automobile Manufacturers.

China’s private sector

Meet Yu Donglai, founder of China’s viral supermarket chain and premier’s guest

Yu’s company has caught the public’s attention for its business practices and high-quality goods.

Yu Donglai (centre) CEO of Chinese supermarket chain Pangdonglai. Photo: Sohu
China’s private sector

What would 200% US tariffs on generic drugs mean for China’s pharmaceutical industry?

Analysts say that China’s pivot from generics to innovative drugs means the industry is less exposed to US levies.

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A production line of capsule package. Photo: Getty Images
A production line of capsule package. Photo: Getty Images
Commodities

China’s resources deals turn gold mines into – gold mines

Chinese gold producers, after a buying spree for mines abroad, are cashing in as the metal’s price goes sky-high.

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China’s private sector

Are diamonds over? Chinese gem lab cashes in as world embraces artificial stones

Lab-grown diamond maker Power Diamond sees profits triple as De Beers warns of ‘protracted’ challenges in natural stone market.

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Energy

Blockbuster earnings: how China’s lithium giants are cashing in on energy race

Soaring profits at Tianqi and Ganfeng highlight how global demand for energy independence is powering China’s lithium edge.

Tianqi Lithium's processing plant for lithium in Chile. Photo: AFP
Tianqi Lithium's processing plant for lithium in Chile. Photo: AFP
Banking & finance

Hong Kong exchange lures listings from Canada, Indonesia, Kazakhstan

Bourse expected to see influx of international issuers in year’s second half, led by consumer goods and services companies, according to PwC.

Gold in Hong Kong

China gold ETFs see record US$2.91 billion outflow in June as risk appetite returns

Global gold market trading volumes averaged a record US$488 billion per day during the first half of the year.

Banking & finance

China extends gold-buying binge to 20th month in Beijing’s de-dollarisation push

PBOC’s bullion holdings keep rising as forex reserves dip in June to US$3.42 trillion and the central bank seeks security from sanctions and US market volatility.

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The People’s Bank of China said gold holdings rose to 75.44 million troy ounces (2,346 tonnes) at the end of June. Photo: dpa
Business of climate change

Peak oil: China’s crude demand set to fall as EV bets ease Hormuz fears

China now faces the challenge of persistent refining overcapacity as ongoing electrification slashes fuel demand, CNPC official says.

A tanker unloads imported crude oil at a terminal port in Qingdao, in eastern China’s Shandong province, on June 25. Photo: AFP
A tanker unloads imported crude oil at a terminal port in Qingdao, in eastern China’s Shandong province, on June 25. Photo: AFP
Gold in Hong Kong

Hong Kong inaugurates trial operation of gold clearing and settlement system

Chief Executive John Lee announces ‘milestone’ for city’s gold trading ecosystem at Hong Kong FIC & Bond Connect Summit.

Gold in Hong Kong

Why Hong Kong’s US dollar gold futures trade just hit a record high

The surge comes as the city pushes to become a global bullion trading and storage hub.

Electric & new energy vehicles

Beijing opens lithium futures to foreign traders to cement pricing power over US

Miners, battery makers and traders outside China can now trade lithium carbonate futures and options on the Guangzhou Futures Exchange.

Sacks of lithium carbonate sit in a warehouse of US lithium producer Albemarle, in Chile, March 2, 2024. Photo: Reuters
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