Why Chinese central bank will not make stock, exchange-trade funds purchase
The rumor has it that the People's Bank of China (PBC), China's central bank, may have been considering purchasing stock or ETFs directly from the market. We believe it's neither reasonable nor viable to do so.
R&D investment underscores Huawei's success
Since the December 1 arrest, in Vancouver, of its chief financial officer Meng Wanzhou, Shenzhen-based multinational conglomerate Huawei Technologies Co has indisputably become the most high-profile Chinese company by which to measure the nation's technological pride amid the unprecedented trade tensions with the US.
All-out efforts urgently needed to crack down on healthcare market irregularities
The scandal surrounding Chinese healthcare products maker Quanjian continued to grow as police in North China's Tianjin detained 18 suspects, including the controller of the company, on January 7, with two other suspects released on bail pending trial.
China should avoid boosting economic development through large-scale stimulus
At present, China is facing mounting uncertainties amid an increasingly complex internal and external environment, with its economic growth expected to slow down steadily in the short term. Yet, in the medium- and long-term, there will still be relatively favorable conditions and huge potential for the country's development.
Space economy to be a new frontier of cooperation
As we enter 2019, human civilization has come a long way since the Russians changed our destiny by flying beyond our blue skies. Major powers understood that the next battle field would take place above us, in space.
China needs to prepare for long-term rivalry with the US even if trade deal is reached
Looking ahead to 2019, it will remain the focus of the public's concern as to whether the trade tensions between the US and China will ease.
Chinese companies can evolve in tough times
The year 2018 was a tough year, but we have made it through. The good news is that the hardship was common for many people, while the bad news is that a difficult time may just lie ahead. I have always believed that when the society offers opportunities, we should create value for it. But when there is no opportunity from the society, we should create value for ourselves.
China's IT winter chill should help firms rethink business models
China's internet technology (IT) sector experienced massive layoffs during 2018, a chaotic year for the industry. In June, hundreds of P2P lenders fell like dominoes. Two months later, the revenue of image editing software developer Meitu fell 5.9 percent year-on-year, reporting a $127 million net loss. Media reported the company had been laying off people since the end of 2017. In the fall, online retailers Alibaba and JD.com reduced new hires.
US economic growth could lose momentum in 2019
There are compelling reasons to believe that the US economy is less likely to continue on a robust growth path this year. The US economy's strong growth in 2018 was mainly attributed to the Donald Trump administration's substantial tax cut package. Thanks to the stimulus provided by the tax cuts, personal consumption spending and private investment turned out to be the main forces pulling up economic growth.
China delivers a modern economy during 40 years of reform and opening-up
Editor's Note:
At a gala celebrating the 40th anniversary of China's reform and opening-up on December 18, 10 foreigners received China Reform Friendship Medals, marking China's acknowledgement of contributions they made to help realize the country's remarkable progress. Stephen Perry (Perry), Chairman of the 48 Group Club, was one of the recipients. Global Times reporter Chen Qingqing (GT) recently had an interview with Perry, talking about his impressions and stories during the country's reform and opening-up.
Why PM Mahathir seeks to engage with China?
After his coalition won the election in May 2018, Malaysia's Prime Minister Mahathir Bin Mohamad declared that he would suspend several Chinese-funded projects.
US stock market faces more volatility in 2019
The US stock market has been extremely volatile during 2018. From December 4 to 24, the Dow Jones Industrial Average slumped 4,000 points within 15 trading days. In fact it has rather contradicted with the tradition that US stock market usually performs well in December. By Monday, Standard & Poor's 500 index (S&P 500) had accumulated a 14.8 percent drop in December, worse than the 14.5 percent losses within the 12 months of the 1931 collapse during the Great Depression.
De-dollarization inevitable as yuan's global status rises
The global economy and the trade governance system have shifted from an old model in which other economies were orbiting around the US toward a three-horse race – the US, EU and China – meaning that de-dollarization is inevitable. The global trade, production and consumption arena has become a three-way race among Asia, Europe and the US, but the international currency system has long been dominated by the US dollar, highlighting a mismatch between the real global economy and international currency system.
Myanmar to make utmost efforts to ensure security of CMEC
Since the beginning of 2018, the friendly ties between China and Myanmar have continued their steady progress, with the two nations deepening pragmatic cooperation in a variety of areas. On September 9, 2018, the two sides signed a memorandum of understanding (MOU) in Beijing to build the China-Myanmar Economic Corridor (CMEC), one of the key projects of the China-proposed Belt and Road initiative (BRI). On November 8, the two countries signed a framework agreement on the Kyauk Phyu Special Economic Zone (SEZ) deep-sea port project in Nay Pyi Taw, Myanmar. Also, Myanmar has over the last two years been facing great international pressure over resolving the Rakhine State issue, but China has continued its support for the Myanmar government's stance on the issue.
Recently at the Myanmar Embassy in Beijing, Global Times reporters Li Sikun and Li Qiaoyi (GT) got a rare interview with U Thit Linn Ohn (TLO), Myanmar Ambassador to China, seeking his input into some of the most important questions regarding the bilateral ties, most notably the CMEC.
Can 2019 be the year of China-Africa convergence?
As China and Africa are looking forward to 2019, after almost two decades of close strategic partnership in the 21st century, there are a few wishes that citizens and policymakers from both sides are aspiring to, and in my opinion, as an African living in China, the greatest of them would be the convergence between the Chinese culture and economy and the African potential and future.
CPTPP could be a strong trading partner for China
Much attention has been paid to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which officially came into effect on Sunday. Without the US, the 11-member free trade agreement, formerly known as the Trans-Pacific Partnership (TPP), now covers 13 percent of the global economy.
China needs to support domestic soybean farmers to strengthen food security
Amid the recent truce in the trade war, China has restarted imports of US soybeans, but there are still lots of uncertainties about the country's soybean trade.
Can 2019 be the year of China-Africa convergence?
As China and Africa are looking forward to 2019, after almost two decades of close strategic partnership in the 21st century, there are a few wishes that citizens and policymakers from both sides are aspiring to, and in my opinion, as an African living in China, the greatest of them would be the convergence between the Chinese culture and economy and the African potential and future.