BUSINESS >> Economy

US cargo ship Peak Pegasus rushes to Beiliang port before soybean tariffs take effect

Peak Pegasus, a vessel carrying tons of soybeans from the US which reportedly rushed to head to Chinese port on July 6 hoping to clear customs before China slapped retaliatory tariffs on US imports, has officially entered Dalian's Beiliang port to offload cargos, a port employee told the Global Times on Sunday.
Source: Global Times | 2018/8/12 12:13:39

China has no foreign exchange target to defend: former central bank adviser

China's central bank should inform the market that defending the yuan at the key level of 7 against the US dollar is not its goal and that the country has no foreign exchange target to defend, a prominent Chinese economist and former central bank adviser said Saturday, the third anniversary of the yuan's switch to a new daily fixing formula.
Source: Global Times | 2018/8/12 10:53:39

China's monetary policy to be "neither too tight nor too loose:" PBOC

China's central bank has said that the country's prudent monetary policy will be kept neutral and be neither too tight nor too loose.
Source: Xinhua | 2018/8/11 21:55:57

UK GDP growth bounces back, pointing towards bank rate rises over coming 12 months

The UK GDP growth rate doubled in the second quarter, providing firm support for the Bank of England's (BoE) rate-rise earlier this month.
Source: Xinhua | 2018/8/11 21:54:59

Belt and Road Initiative helps with refugee work: UNHCR

China's Belt and Road Initiative could "definitely" help with global refugee work, said United Nations Refugee Agency UNHCR chief Filippo Grandi who completed an official visit to China on Saturday.
Source: Xinhua | 2018/8/11 18:14:02

Chinese firms see more revenue from projects along Belt and Road

The combined revenue of Chinese companies from contracted engineering projects in countries along the Belt and Road (B&R) rose 17.8 percent in the first half of 2018, data from the Ministry of Commerce showed.
Source: Xinhua | 2018/8/11 18:13:04

China instructs banks, insurers to up financing support for real economy

The China Banking and Insurance Regulatory Commission said Saturday that it has encouraged banks and insurance companies to increase funding to meet the financing demand of the real economy.
Source: Xinhua | 2018/8/11 18:11:04

China plays important role in WTO dispute settlement mechanism: expert

China plays an irreplaceable role in maintaining the effective functioning of the World Trade Organization (WTO) dispute settlement mechanism, said an expert.
Source: Xinhua | 2018/8/11 7:10:59

US cargo ship Peak Pegasus waiting to offload soybean at Dalian: cargo owner

The Peak Pegasus, a cargo ship carrying tons of US soybeans which reportedly rushed to dock at a port in Dalian on July 6 hoping to clear customs before China slapped retaliatory tariffs on US imports, are waiting to offload its cargo at Dalian due to limited warehouse capacity in China, the cargo's owner Louis Dreyfus told the Global Times on Friday.
Source: Global Times | 2018/8/10 23:40:19

China releases guideline to stimulate information consumption

China will make more efforts to bolster information consumption in the next few years as part of an effort to stimulate domestic demand and shore up economic growth.
Source: Xinhua | 2018/8/10 20:46:28

China's aviation industry contributes to connectivity along Belt and Road

China's aviation industry has expanded its cooperation platform to facilitate connectivity along the Belt and Road, the Civil Aviation Administration of China (CAAC) said Friday.
Source: Xinhua | 2018/8/10 20:44:56

Malaysian mobile telecommunications firm partners Huawei in cloud business

Malaysian mobile telecommunications company Celcom Axiata Bhd has inked an agreement with Huawei Technologies (Malaysia) Sdn. Bhd. to apply the Cloud based Digitized Operation Platform, a Software-as-a-service solution in cloud business.
Source: Xinhua | 2018/8/10 17:44:11

Chinese online grocer raises 500 mln USD from Walmart, JD

Chinese online grocery and delivery company Dada-JD Daojia has raised 500 million US dollars from US retailer Walmart Inc and Chinese e-commerce firm JD, China Daily reported Friday.
Source: Xinhua | 2018/8/10 17:35:17

World Trade Outlook Indicator shows momentum easing further in Q3

Trade expansion will likely slow further in the third quarter of 2018, the World Trade Organization's (WTO) latest World Trade Outlook Indicator (WTOI) indicated on Thursday.
Source: Xinhua | 2018/8/10 15:45:43

IMF chief economist says US tariffs won't reduce trade deficit

Raising tariffs against imports is not the right way to reduce the US trade deficit, which is likely to increase further because of the planned US fiscal stimulus, International Monetary Fund (IMF) chief economist Maurice Obstfeld has said.
Source: Xinhua | 2018/8/10 14:33:27

World economic climate to deteriorate further in Q3: think tank

The world economic climate is to deteriorate further in the third quarter of the year, research institute ifo estimated on Thursday.
Source: Xinhua | 2018/8/10 6:00:28

Crane sales to Bangladesh

The Bangladeshi government will purchase another four heavy-duty gantry cranes for the smooth handling of containers at the country's Chattogram seaport, some 242 kilometers southeast of the capital Dhaka.
Source: Xinhua | 2018/8/9 22:18:43

Tibet tech incubator

An incubator aimed at supporting small and medium-sized technology companies was officially open on Wednesday in Lhasa, Southwest China's Tibet Autonomous Region.
Source: Xinhua | 2018/8/9 22:18:41