BUSINESS >> Economy

Trade conflict will hit middle class families, poor people hardest

As expected, a growing group of Americans – including agricultural ranchers, fruit growers, livestock farmers, car and ship makers, LNG developers and port operators – have found themselves in the crosshairs of the trade conflict.
Source: Global Times | 2018/8/19 21:43:39

Making headlines

A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet US representatives led by Treasury Under Secretary for International Affairs David Malpass in late August, China's Ministry of Commerce said in a statement on its website.
Source: Global Times - Reuters | 2018/8/19 20:43:40

Inspur to expand in US

China's major service provider of cloud computing Inspur said it will invest $6 million to set up a US asset management company in California to speed up its overseas expansion of server businesses.
Source: Xinhua-Global Times | 2018/8/19 20:43:39

Geely, Proton venture

Zhejiang Geely Holding Group and Malaysian car manufacturer Proton on Saturday agreed to establish a 50-50 joint venture to deepen their cooperation in new-energy vehicles and promote Proton cars in the global market.
Source: Xinhua-Global Times | 2018/8/19 20:38:40

Shares of 85 Cafe plunge, after its reception of pro-independence leader Tsai Ing-wen triggers boycott

Shares of the parent company of the Taiwan-based chain 85 Degrees Celsius Bakery Café (85 Cafe) has plunged after the store's welcome of pro-independence Democratic Progressive Party leader Tsai Ing-wen sparked criticism in the Chinese mainland.
Source: Global Times | 2018/8/19 20:38:40

Illegal apps involving fake lottery sale and gambling removed from Apple store, but loopholes remain

Apple Inc has removed many of illegal apps that sell fake lottery tickets and provide gambling services from the Apple store, but loopholes remain, China Central Television (CCTV) reported on Sunday.
Source: Global Times | 2018/8/19 20:38:39

ICBC beefs up financial cooperation with Turkey

Industrial and Commercial Bank of China (ICBC) is continuing financial cooperation with Turkey as the latter has experienced a currency crisis because of external pressure from the US.
Source: Global Times | 2018/8/19 20:33:40

China doesn't seek weaker yuan amid trade dispute as currency's long-term depreciation would harm its economy

China hasn't depreciated the yuan to cope with external disturbances such as the ongoing China-US trade dispute, since the currency's long-term depreciation would harm the nation's economy and financial markets.
Source: Global Times | 2018/8/19 20:33:39

Chinese farmers could cultivate soybeans in Russia's Far East to replace US soybean imports

Chinese investment in Russian agriculture has great potential, experts told the Global Times, after Russia announced it is opening vast swathes of farmland in the Russian Far East to foreign investment.
Source: Global Times | 2018/8/19 20:23:39

Photovoltaic mountain

A view of photovoltaic power panels built on hillsides in Xuanhua district, Zhangjiakou, North China's Hebei Province on Sunday.
Source: IC | 2018/8/19 18:23:39

Insurance premium income falls in H1

China's insurance sector saw premium income fall 3.33 percent year-on-year to 2.2 trillion yuan ($319.3 billion) in the first half of the year, according to official data.
Source: Xinhua-Global Times | 2018/8/19 18:18:40

Internet court sees 11,000 litigations

China's first court specializing in internet-related cases has handled more than 11,000 cases since its inception a year ago, according to the court.
Source: Xinhua-Global Times | 2018/8/19 18:18:40

China regulator asks financial institutions to support infrastructure investment

China's banking and insurance regulator has asked financial institutions to give more support to infrastructure investment, importers and exporters, as well as creditworthy companies experiencing temporary problems.
Source: Reuters-Global Times | 2018/8/19 18:18:39

Chinese firms plan more soybean meal substitute imports to offset plunge in US soybean imports

Chinese companies are confident in securing overseas supplies of soybeans and soybean meal substitutes to counter the fall in imports of US soybeans, according to industry insiders.
Source: Xinhua | 2018/8/19 17:25:35

Malaysia witnesses mobile payment, e-commerce boom thanks to Chinese tech giants

Twenty-nine-year-old Farhad Fahd Bin Othman, a white collar worker based in Kuala Lumpur, has long been dreaming about using a mobile phone to handle all daily transactions, like the people of his age do in China. So the minute he heard about a new mobile application called the Touch n' Go e-wallet, he didn't hesitate to download it.
Source: Xinhua-Global Times | 2018/8/19 16:53:39

Yuan's international usage remains stable: report

International usage of Chinese currency renminbi, or the yuan, remains stable despite a sharp fall in the offshore exchange rate, according to a new report by Bank of China (BOC).
Source: Xinhua | 2018/8/18 17:32:48

China's outbound investment sees steady growth in Jan.-July period

China's non-financial outbound direct investment (ODI) continued steady growth in the first seven months of the year, according to official data.
Source: Xinhua | 2018/8/17 22:47:37

Five Chinese cities urged to contain housing prices

Government officials in five Chinese cities were asked to step up regulation to contain housing market speculation after house prices in the cities saw rapid rises recently.
Source: Xinhua | 2018/8/17 21:41:04