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

Insiders and analysts say Pan Gongsheng is known as a risk averse financial technocrat, who played a key role in crackdowns on perceived threats over the past decade

Major state banks have chopped dollar deposit rates for the second time in a month to prevent a prolonged slide in the yuan, which could discourage foreign investment and spur an outflow of funds

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

Torrential rain triggered flash floods and hailstorms in northern China as the region remains in the grip of unusually hot weather

Sources claim two of India's three private refiners have settled some recent Russian oil import deals in Chinese yuan

Experts say latest data coming in from China pointed to the world’s biggest EV market recovering from a slump and getting “back on the fast-track"

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

Manufacturing activity contracted in Japan and South Korea, and increased by just a small margin in China. However, it grew at a brisk pace in India, survey data showed on Monday

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

China's foreign exchange regulator Pan Gongsheng, who has years of bank experience and studied in the UK and US, looks set to be the new head of the People's Bank of China