BUSINESS >> Economy

Yemen's tourism sector affected by over 4 years of war and blockade

Yemen's tourism sector has been affected significantly by more than four years of war and blockade.
Source: Xinhua | 2019/8/18 11:46:22

China sees surge in loans to small, micro firms

China saw a surge in the outstanding sum of loans to small and micro companies in the first half of this year thanks to the government's support for inclusive finance.
Source: Xinhua | 2019/8/18 10:22:03

China approves more fixed asset investment projects

The National Development and Reform Commission, China's top economic planner, approved 12 fixed-asset investment projects with the combined investment totaling 70.5 billion yuan (about 10 billion US dollars) in July, data showed.
Source: Xinhua | 2019/8/18 10:19:34

Huaxia Bank H1 profit up 5.06 pct

Huaxia Bank, a medium-sized Chinese lender, reported a 5.06 percent rise in net profit in the first half of the year.
Source: Xinhua | 2019/8/18 10:16:26

US tariffs seen to push up prices, reduce profits: report

The recent increases in US tariffs against imports are seen to be pushing up prices and reducing profits for American manufacturing and service firms, according to a report recently published by the Federal Reserve Bank of New York.
Source: Xinhua | 2019/8/18 8:51:47

US state, local officials still eye China opportunities despite trade tensions

The Kentucky Cabinet for Economic Development has recently said it will lead a business development trip to China later this month, the latest signal of US state and local officials' unwavering willingness to enhance cooperation despite simmering trade tensions between the world's two largest economies.
Source: Xinhua | 2019/8/17 11:21:06

China to expand IP pledge financing to support innovative enterprises

China's banking and intellectual property regulators have decided to jointly boost the use of intellectual property (IP) as a financing tool to support the development of innovative enterprises, an official statement said Friday.
Source: Xinhua | 2019/8/17 9:02:50

Hong Kong's GDP slightly up 0.5 pct in Q2

Hong Kong's economy expanded by 0.5 percent in the second quarter of 2019 year-on-year, slightly slower than the 0.6 percent growth in the preceding quarter, an economist of China's Special Administrative Region (HKSAR) government said on Friday.
Source: Xinhua | 2019/8/16 21:11:49

Top accounting firms urged to fire pro-riot staff

Industry insiders and Chinese netizens urged the top accounting firms to investigate people who claim to be their staff and fire employees found to have the wrong stance on the current Hong Kong situation, despite distancing themselves from a statement published in the city's Apple Daily newspaper on Friday requesting the release of arrested rioters.
Source: Global Times | 2019/8/16 20:43:07

Nationwide 5G commercialization a step closer as Huawei's 5G phone hits stores

The Huawei Mate 20 X (5G), developed by Chinese telecommunications giant Huawei and the only mobile phone in the world that supports both SA and NSA (two different 5G networks), officially hit stores on Friday, marking one step closer to the nationwide commercialization of the 5G network.
Source: Global Times | 2019/8/16 18:43:40

China releases overall plan on new western sea-land transportation channel

China has released an overall plan about the country's new western sea-land transportation channel to deepen the sea-land two-way opening-up and the development of western China, according to the National Development and Reform Commission.
Source: Xinhua | 2019/8/16 13:54:42

BRI set to spearhead Asian century through integration, connectivity: former Malaysian minister

The realization of an Asian century will be made possible through the physical, digital and people-to-people connectivity provided by the China-proposed Belt and Road Initiative (BRI), a former Malaysian minister told a conference here on Thursday.
Source: Xinhua | 2019/8/16 9:23:36

China's outbound investment up 3.3 pct in Jan-July

China's non-financial outbound direct investment (ODI) maintained steady growth in the first seven months of the year, official data showed Thursday.
Source: Xinhua | 2019/8/16 9:12:04

US sports footwear, apparel industry to be hit hardest by latest tariffs against China

Sports footwear and apparel will be hit the hardest among many other sporting goods by the fourth round of tariffs to be imposed by the US administration on Chinese-made products, said the industry on Wednesday.
Source: Xinhua | 2019/8/16 9:10:30

US puts Chinese nuclear giant, subsidiaries on Entity List to ban exports

The US has added China General Nuclear Power Corp (CGN), China's largest state-owned nuclear company, and several of its subsidiaries to its Entity List, barring US companies from selling products to those enterprises.
Source: Global Times | 2019/8/15 22:23:40

20% HK residents to benefit from a $2.4b economic support package for SMEs and families

The government of the Hong Kong Special Administrative Region (SAR) unveiled an economic package worth HK$19.1 billion ($2.44 billion) on Thursday to bolster the city's enterprises and residents to cushion the impact of recent unrest as well as external pressure.
Source: Global Times | 2019/8/15 22:21:18

US to blame as recession risk looms

Warning signs of a looming recession in the US and other major economies continue to intensify, spooking investors into a widespread stock selloff in search of safe haven assets. There is one country to blame for what could be yet another disastrous economic crisis: the US, according to analysts.
Source: Global Times | 2019/8/15 22:18:40

Big Four accounting firms assailed on HK stance

People who claim to be employees of the Big Four accounting firms – KPMG, Ernst & Young (EY), Deloitte and PricewaterhouseCoopers (PwC) – in Hong Kong have crowd-funded an advertisement in the city's Apple Daily to denounce statements made by senior executives of their firms and whitewash arrested rioters as “righteous guys” as increasingly violent protests bring huge damage to the city.
Source: Global Times | 2019/8/15 22:08:40