BUSINESS >> Economy

Yuan depreciation market's reaction to US tariff threat, says analyst

China won't use the yuan as a tool to deal with trade conflicts, central bank governor Yi Gang said Monday, vouching for the nation's persistence in the market-oriented yuan following the Chinese currency's slide past a key mark.
Source: Global Times | 2019/8/5 23:18:32

China's central bank speeds up digital currency drive

With internet technologies advancing and cryptocurrencies flourishing amid a broad digital transformation, individual countries are starting to issue legal tender in digital form, and the People's Bank of China (PBC), the country's central bank, is also accelerating its pace in this area.
Source: Global Times | 2019/8/5 20:48:40

US farm produce claims unsubstantiated, goods lack price competitiveness: NDRC

China's top economic planner said on Monday that US claims about not purchasing its agricultural produce are untrue. The real reason for some US produce not being exported to China is because the items are not price competitive.
Source: Global Times | 2019/8/5 20:38:40

China should not lose its strategic focus in dealing with flip-flop Trump administration: experts

China should increase the breadth and depth of its reform and opening-up, boosting the vitality of the domestic economy and winning over global partners in the trade war with the US, Chinese analysts said on Monday, after the Trump administration once again showed its volatile nature on the heels of the 12th round of bilateral trade consultations.
Source: Global Times | 2019/8/5 20:08:41

Experts warn of broader, lasting economic damage as HK stocks plunge amid unrest

Hong Kong's equity markets plummeted on Monday as civil unrest raged in the region and showed signs of escalation. One stock expert warned that Hong Kong's economy will be "trapped in a vicious circle" if the situation worsens.
Source: Global Times | 2019/8/5 19:43:41

Household waste sorting compliance to be recorded in Hangzhou credit system

The government of Hangzhou, East China's Zhejiang Province, on Monday announced plans to use compliance with household waste sorting rules as a metric in the personal credit information system, according to media reports, a move that an expert said was an effort to include more aspects of daily behavior in personal credit systems.
Source: Global Times | 2019/8/5 19:43:40

PwC's vague statement on HK situation draws criticism from Chinese public

Chinese netizens are angry at the vague statement from one of the “big four” global accounting firms, PwC, calling it the next Pocari Sweat and condemning its fence-sitting approach to dealing with the Hong Kong riot.
Source: Global Times | 2019/8/5 18:51:12

Mango industry bears fruit on southwest China coal mines

Coal mines may have brought environmental blues in China, but in the southwestern province of Yunnan, the exploited mines have been transformed into a gold mine of an unexpected industry: mango trees.
Source: Xinhua-Global Times | 2019/8/5 15:28:39

Rebranding China's old industrial base – the Liaoning way

In a humble corner of a factory in the old industrial base of China stood a display board introducing the feedback source supporting system it built for FAST, the largest and most sensitive radio telescope on earth.
Source: Xinhua-Global Times | 2019/8/5 15:23:39

Tianjin, Jilin falling far behind in leisure business

Tianjin City, about 200 kilometers east of Beijing, is falling far behind other Chinese metropolises in developing tertiary leisure business.
Source: Global Times | 2019/8/5 14:08:39

Yuan breaches 7 against the dollar

The yuan will be kept basically stable at a reasonable and equilibrium level, the People's Bank of China (PBC), the country's central bank, said Monday, defusing concerns over the yuan's slide past a key mark.
Source: Global Times | 2019/8/5 13:19:29

China confident of keeping yuan stable: central bank

China's central bank reiterated on Monday that it has the confidence and capability of keeping the yuan exchange rate basically stable.
Source: Xinhua | 2019/8/5 12:15:00

Europeans on the wings of China's opening-up into world's second-largest capital market

For market participants from the European Union (EU), "invest in China" is growing more diverse in form and richer in content, as the world's second-largest economy consistently advances comprehensive reforms and opening-up.
Source: Xinhua | 2019/8/5 12:08:42

Belt & Road cushions impact of trade war

The China-proposed Belt and Road Initiative (BRI) has greatly boosted China's foreign trade, achieving major progress in Europe and Asia and also cushioned the negative impact brought on by the US initiated trade war, Chinese analysts said over the weekend.
Source: Global Times | 2019/8/4 21:23:40

China's inland cities grow robustly in H1, while coastal metropolises are slowing down

Though the China-US trade war weighs on the nation's economy, some Chinese cities have reported robust first-half GDP growth, of which many are inland cities whose economies have been boosted by booming trade with emerging markets and rising investment.
Source: Global Times | 2019/8/4 20:58:39

End of the road

The shared bicycles were discarded at a park in Shenyang, Northeast China's Liaoning Province on Saturday. Xinhua reported that Beijing has cleaned up 388,100 shared bikes which had not been properly distributed and had seriously affected the city's tidiness, environment and traffic order. Previously, Beijing capped the number of shared bikes at 1.91 million. However, the city's shared bikes are still in serious surplus.
Source: VCG | 2019/8/4 19:58:40

Ministry appropriates $7.2m to intelligent robot project supporting massive radio telescope

The Ministry of Science and Technology (MST) has set aside a special fund for projects involving intelligent robots in support of the 500-meter aperture spherical telescope (FAST) operation, according to a statement released by the MST on Thursday.
Source: Global Times | 2019/8/4 19:58:39

Central bank will provide reasonably ample liquidity in H2 amid mounting pressure

The People's Bank of China (PBC), the country's central bank, said it will maintain a prudent monetary policy that's neither too tight nor too loose in the second half of 2019 and tackle mounting external and internal pressure via a multitude of policy tools.
Source: Global Times | 2019/8/4 19:48:40