BIZ >> Expert assessment

China's financial opening-up has righteous motives despite Western skepticism, distortion

Recently, China announced a slew of measures to further open its financial market. The 11 new measures encourage overseas financial institutions to participate in the establishment of, and invest in, asset management subsidiaries of commercial banks. They also allow them to set up and invest in pension management companies. Investment restrictions of overseas personal insurance companies will be completely scrapped in 2020. Those measures serve as a milestone, marking a new stage of China's financial opening-up.
Source: Global Times | 2019/7/31 22:10:35

Washington ties with pro-Brexit group could limit mutually beneficial UK-China relations

Two days after Boris Johnson became the UK's prime minister, the Financial Times noted that British Brexit Party leader Nigel Farage held a major New York fundraising event for a new lobbying body W4B (World4Brexit) to campaign for the UK to leave the European Union (EU). Farage added that he met with President Donald Trump at the White House on July 24, the day Johnson became prime minister, when Trump urged him to join forces with Johnson to “realign” British politics.
Source: Global Times | 2019/7/30 21:58:40

Partial agreements expected in China-US trade talks despite major differences

The China-US trade row has seen many ups and downs. It has allowed people to witness the capriciousness of the real world and the nature of economics and trade issues.
Source: Global Times | 2019/7/29 21:32:46

Libra is unlikely to become a real currency as negatives outnumber positives

House Democrats have considered a bill aiming at tech companies like Facebook that would ban them from issuing Libra, a new cryptocurrency, and Calibra, a digital wallet. This is not the first time that cryptocurrencies have attracted global attention.
Source: Global Times | 2019/7/28 18:23:40

US rare earths diversification efforts hardly reduce reliance on Chinese supply

Recent media reports suggest that the US is turning to Africa to diversify its rare-earth supplies away from China. Yet, in view of the US and Africa's lack of rare-earth-processing capacity, the move will hardly help the US reduce its reliance on China's rare-earth supplies.
Source: Global Times | 2019/7/25 20:30:43

Time for China to build cross-border yuan settlements with neighboring countries

As China's economy gets bigger and more competitive, the country will play a greater role in the international financial system. The yuan's internationalization is an inevitable trend despite hardships along the way.
Source: Global Times | 2019/7/24 19:58:39

Nepal needs to speed up selection of BRI projects to improve local quality of life

The Belt and Road Initiative (BRI) was proposed by China in 2013. Not long after the inception of the initiative, the Nepali government made a full commitment to join.
Source: Global Times | 2019/7/23 21:16:15

Lifting Huawei ban can remove pressure on US firms, show goodwill to Beijing

US President Donald Trump promised during the G20 summit in Osaka, Japan, to lift some of the restrictions his government had placed on Chinese telecom company Huawei.
Source: Global Times | 2019/7/22 21:23:40

Shanghai Stock Exchange's STAR Market needs effective surveillance, support

The countdown to Shanghai Stock Exchange (SSE)'s STAR market is in its final hour. From November 5, 2018 until today, it has taken 259 days for the STAR market to officially take off. It will bring vitality to China's capital market. It is not only an important part of China's plan to deepen the capital market reform system, but also a significant experiment in China's financial supply-side reform. The market is conducive to pushing the nation's technological innovation, which is set to be expedited by the capital market reformist drive.
Source: Global Times | 2019/7/21 21:23:40

Vote-hungry attitude toward trade war with China can be US' Achilles' heel

The US-China trade war has lasted more than a year, only to see both sides take casualties. According to data released by China's General Administration of Customs last week, during the first half of 2019, China's exports to the US fell by 8.1 percent year-on-year to $199.4 billion, while imports plunged 29.9 percent to $58.92 billion, resulting in a trade surplus of $140.48 billion. In other words, while the first half saw Chinese exports to the US decline, though not by too much, US exports to China collapsed quite sharply. In particular, US exports of agricultural products to China slumped over the same period.
Source: Global Times | 2019/7/18 21:38:41

Vietnam's export surge does not justify massive manufacturing relocation from China

Vietnam's export revenue in the first five months of 2019 has seen a 6.7 percent increase year-on-year. Against the backdrop of a global economic slowdown and sprawling trade protectionism, this export performance has outshone other countries. In contrast, China's exports within the same period have been fluctuating and waning. Some are worried about industries withdrawing from China. However, there is no need to get too anxious.
Source: Global Times | 2019/7/17 19:08:41

China's single market still has great dividend potential in consumer sectors

Some people attribute the success of China's reform and opening-up to the “demographic dividend,” which is certainly not a comprehensive understanding. It would be a big mistake if we still regard the demographic dividend as a large supply of cheap labor. In my opinion, the broad concept of the demographic dividend should be classified into three levels: The first is the “cheap labor dividend,” the second is the “engineer dividend,” and the third is the “single market dividend.”
Source: Global Times | 2019/7/16 18:58:40

China's central bank needs to head off rising challenge posed by cryptocurrencies

Facebook's announcement of calling Libra a digital currency has sparked much debate, which is still continuing in the technology, finance and political fields. In addition to criticism toward data privacy and trading security, attention has been given to the future challenges to central banks' rights to issue currency. Some Chinese scholars and central bank officials have also weighed in on the issue.
Source: Global Times | 2019/7/15 19:08:41

What are the trends that are shaping the future of China's manufacturing migration?

In recent years, migration of the manufacturing sector from the Chinese mainland has become a major concern, especially against the backdrop of the US-China trade war over the past year. Indeed, if manufacturing moved offshore on a large scale, the mainland would lose its status as the world's factory and, like many countries, would face a potential hollowing-out of the economy. In this context, the Chinese economy would lose not only growth momentum but also its status as a manufacturing and economic power.
Source: Global Times | 2019/7/14 19:53:40

China's coordinative development economics powers up economy, global governance

Chinese culture is tenacious enough to grow continuously and prosper due to its core value, coordination. With coordinative measures, China has pushed for progress and the evolution of history. Following the coordinative principle, the country has dealt with many historical issues and built up a foundation for modernization.
Source: Global Times | 2019/7/11 21:08:41

China's manufacturers and market take the lead to embrace green vehicles

Although overall car sales in China have waned in the past 10 months, electric vehicles (EVs) have picked up the slack, thanks to the government's steadfast efforts to spur consumption of green cars. The plan is to cut the country's heavy reliance on imported oil and to reduce petrol-fired vehicles' choking tail-gas emissions.
Source: Global Times | 2019/7/10 20:53:40

China's continuous hike of gold reserves demonstrates diversification efforts

China increased its gold reserves for the seventh month in June, taking its total reserves to 61.94 million ounces, up 330,000 ounces compared to the previous month, data from the central bank showed on Monday. As gold is considered to be a typical safe haven asset, China's gold purchases are generally seen as a strategic measure to hedge against risks and uncertainties related to the international payment environment and its own currency.
Source: Global Times | 2019/7/9 21:18:40

EU-Vietnam free trade agreement won't affect China's ties to its Southeast Asian neighbor

In recent years, Vietnam has signed bilateral and multilateral free trade agreements with a number of economies or economic unions. On June 30, the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement were officially inked in Hanoi, Vietnam's capital. Hanoi views the deal as an important milestone for its global trade.
Source: Global Times | 2019/7/8 20:23:39