China's recent policy stimulus has triggered a furious rally in stocks, though that euphoria has turned into caution in past weeks

The rising losses stem from China’s vulnerability to climate change, with higher temperatures magnifying the intensity of storms and rainfall saturating cities on its long coast

Worsening geopolitical ties between Beijing and the West, along with the spiralling economic conditions in China have been the biggest drivers of the drop in business sentiment

Since last year, multiple reports have raised concerns about the authenticity and integrity of oil firms' emissions reduction projects in China — which in one case was actually chicken farm, according to a whistleblower

Excess capacity and a lack of domestic demand threaten to create a vicious cycle within China’s economy where lower employment and wages could lead to a further fall in private consumption

The claim comes at a time when China is in the midst of a tense tech and trade war with the West, with both sides lobbing spying accusations at each other

Markets took their cue from an overnight rally on Wall Street after a bigger-than-expected drop in US unemployment claims calmed investors' nerves

That was nearly as much as the climate change-related losses China suffered in the first six months of the year combined

From 2026 onwards, China will set its focus on controlling emission intensity across provinces and industries

Hong Kong's benchmark saw the biggest losses in Asia with China's Politburo meeting announcing no new detailed efforts to boost the world's second-biggest economy

More than 30 listed Chinese firms have dropped PwC as their auditor in recent months amid a probe by Beijing into its practices

Chinese officials have warned the world's second-largest economy faces hotter and longer heatwaves and more frequent and unpredictable heavy rain as a result of climate change