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Latest: Fintech News

Chinese Carmakers Grab Half of Russia’s Auto Market
Chinese Carmakers Grab Half of Russia’s Auto Market

Chinese carmakers' exports of passenger cars to Russia in January-May 2023 rose over five-fold year-on-year to almost $3.6 billion, according to Chinese customs statistics

China Digital Yuan Transactions Surge to $249.33 Billion
China Digital Yuan Transactions Surge to $249.33 Billion

Total e-CNY transactions hit 950 million but the digital currency only accounted for 0.16% of China's cash in circulation at the end of last month

$55 Billion Crypto Gambling Case on Trial in China – Toutiao
$55 Billion Crypto Gambling Case on Trial in China – Toutiao

Police discovered the ring when one gambler sought help saying “please help me, I am gambling on my mobile phone and my family is going to be ruined”

China’s Feuding Online Fashion Retailers: Temu vs Shein
India, UAE Agree to Ditch the Dollar, Settle Trade in Rupees
CITIC’s Hong Kong Bankers Face Shift to Mainland, Pay Cut
Chip Firms Meet US Officials on China as Lobby Warns On Curbs
China Sees the Dawn of a New Era of Slower Growth
US Keen to Help China on Deal to Curb Methane Emissions
Xiaomi to Switch India Strategy in Bid to Rival Samsung

Fintech: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors