The penalty will pave the way for fintech giant to become a financial holding company and eventually allow it to revive its plan for a stock market listing.

Chinese analysts say Yellen's speech in April, which ranked national security interests as the top plank of America's bilateral economic policy, did not inspire optimism for the visit

Former vice commerce minister says China's countermeasures will escalate if tougher tech restrictions are imposed. Analysts say they could extend to rare earth elements.

The phone is the telecom giant’s latest attempt to tap into India’s massive and under-penetrated rural market where many are yet to migrate to smartphones

The restriction is aimed at closing a crucial loophole in the export controls the US implemented in October that allowed Chinese AI firms to access high-end chips through the cloud

Beijing has ramped up trade rivalry with the US by announcing controls on gallium and germanium - two minor metals widely used in chips, EVs and high-tech products - and it could get worse

The move comes as Japan works to revitalise its chip industry, and the European Union looks to reduce its dependence on China-dominated supply chains

Yellen is expected to discuss cooperation on climate change and global debt distress, plus concerns about China's anti-espionage law in talks with senior finance officials in Beijing this week

Nikkei says an investigation has found that customs records confirm that Russia has been buying drones from Chinese companies specifically for use in its war in Ukraine

The US warns that China's anti-espionage law provides extra grounds to access and control data held by foreign firms in China and could criminalise normal business activity

The rules, set to come into effect on September 1, will require Dutch companies that make advanced chipmaking equipment to seek a licence before they can export it

Parliamentary committee recommends phasing out advertising for online gambling on all media within three years because of the social harm rampant betting is causing