BUSINESS >> Economy

Hainan signs deal on small-scale modular nuclear reactor for clean electricity

The Hainan Free Trade Zone in South China will be powered by clean electricity generated by a state-of-the-art small modular nuclear reactor developed by nuclear giant China National Nuclear Corp (CNNC), the company said on Thursday.
Source: Global Times | 2019/7/18 22:03:41

Ruling signals nation likely to loosen controls over digital currencies

Bitcoin held by individuals ought to be considered virtual property and a specific commodity while not as a legal currency, the Hangzhou Internet Court based in Hangzhou, capital of East China's Zhejiang Province, said in a ruling on Thursday.
Source: Global Times | 2019/7/18 22:03:41

Trade talks with US face difficulties as Washington lacks sincerity

Trade negotiations between China and the US may have encountered some huge obstacles for moving forward, as the two countries appear far apart on issues ranging from Huawei to the text of a potential trade agreement and officials on both sides continue to trade tough rhetoric, according to some observers on Thursday.
Source: Global Times | 2019/7/18 21:53:40

HK ponders timing to expand stock connect trading programs

The Hong Kong Monetary Authority (HKMA) told the Global Times on Thursday that it and relevant authorities in Shanghai and Shenzhen are closely watching the performance of the stock connect programs, their quota utilization levels and market conditions, and will consider what the next move might be needed to expand the quota system.
Source: Global Times | 2019/7/18 20:28:40

Trade talks with US face difficulties

Trade negotiations between China and the US may have encountered some huge obstacles for moving forward, as the two countries appear far apart on issues ranging from Huawei to the text of a potential trade agreement and officials on both sides continue to trade tough rhetoric, according to some observers on Thursday.
Source: Global Times | 2019/7/18 20:13:40

Huawei's 5G chipsets finished all network tests

China's official platform to promote 5G research - IMT-2020 5G promotion group, an organization affiliated with the country's top industry regulator has finished all network tests on Huawei's 5G Balong 5000 chipset, according to the IMT-2020 (5G) summit held in Beijing on Wednesday.
Source: Global Times | 2019/7/18 14:16:50

FDI in Bangladesh: High growth rate worth celebrating but the tobacco deal begs questions

The growth of foreign direct investment (FDI) to Bangladesh by about 68 per cent ($ 3.6 billion) in 2018 compared with 2017 is an outstanding performance of the country. But compared to India ($42 billion) and Vietnam ($35.46 billion), the figure is still much low.
Source: The Financial Express | 2019/7/18 10:55:53

Premier Li calls for more efforts to keep steady, healthy economic development

Chinese Premier Li Keqiang has called for more efforts to maintain the steady and healthy development of the economy and society.
Source: Xinhua | 2019/7/17 23:57:40

China weighs more balanced approach to growth in H2

China is mulling a balanced approach that would help keep economic growth at a stable range in the second half of the year, while avoiding opening the floodgates of stimulus that would raise debt and create more risks, after economic growth in the first half showed stabilizing signs but also highlighted persistent downward pressure.
Source: Global Times | 2019/7/17 22:08:40

Chinese firms to expand in semiconductor amid Japan-SK dispute

South Korean semiconductor producers have been reportedly seeking alternative suppliers for a critical raw material - hydrogen fluoride, which has been placed under export controls by Japan since July 4.
Source: Global Times | 2019/7/17 21:18:41

Huawei Marine 'hasn't bid' on Chile's trans-Pacific cable project

Huawei Marine, the submarine cable business of the tech giant, said it has not offered any bid for the feasibility study of Chile's proposed trans-Pacific project connecting South America with Asia, a decision that analysts said reflects the Chinese company's intention to play down its presence in Latin America.
Source: Global Times | 2019/7/17 21:13:41

AIIB offers local-currency funding to private sector

The Asian Infrastructure Investment Bank (AIIB) will start this month to offer local-currency financing to private-sector clients from India, Indonesia, Thailand, Turkey and Russia, the lender disclosed in a statement sent to the Global Times on Wednesday.
Source: Global Times | 2019/7/17 21:13:40

HK remains finance hub despite riots

Social unrest in Hong Kong is weighing on business sentiment and local capital market, which faces a bumpy road after several companies dropped or delayed their IPO plans. However, the special administrative region (SAR), as a global financial hub and the freest market, is expected to remain competitive under the policy of "one country, two systems," business representatives said.
Source: Global Times | 2019/7/17 21:08:40

More 5G smartphones secure official certification, to usher in advent of 5G in China

The first batch of 5G-enabled smartphones have obtained the China Compulsory Certification (3C), one of the final stages for the official launch of 5G, according to a report by nbd.com on Tuesday.
Source: Global Times | 2019/7/17 20:08:24

New tariffs can only delay trade spat settlement: FM

The US slapping more tariffs on Chinese imports would add hurdles to the bilateral trade consultations, extending the time slot needed for a trade settlement, a Chinese Foreign Ministry spokesman said on Wednesday, commenting on US President Donald Trump's latest statement regarding tariffs on Chinese imports.
Source: Global Times | 2019/7/17 19:23:42

Meat market supply in China to remain stable: official

Pork prices in China are not to come down in the coming months as supply is expected to be tight in the second half of the year. With the increase of domestic output of substitutes, and rising quantities of imported pork, overall supply of the meat market is guaranteed, an official said.
Source: Global Times | 2019/7/17 17:18:40

China sees no major manufacturing exit: top economic planner

China has not seen a large-scale exit in its manufacturing sector and is confident in attracting more foreign firms seeking long-term development, the top economic planner said Tuesday.
Source: Xinhua | 2019/7/17 12:31:37

IMF to start selecting new leader as Lagarde formally submits resignation

International Monetary Fund (IMF) Executive Board said Tuesday that it will initiate promptly the process of selecting the next managing director, after Christine Lagarde announced her resignation from the IMF position with effect from Sept. 12, 2019.
Source: Xinhua | 2019/7/17 11:53:05