BUSINESS >> Economy

HKEX drops offer for London Stock Exchange

Hong Kong Exchanges and Clearing (HKEX) confirmed on Tuesday that it would not proceed with its offer for the London Stock Exchange Group (LSEG), though it still believes that the combination of the two exchanges is "strategically compelling" and "would create a world-leading market infrastructure group."
Source: Global Times | 2019/10/8 22:13:41

China, US set for new talks amid tariff uncertainty

Vice Premier Liu He will lead a Chinese delegation of senior officials from various ministries, including the nation's top economic planner, agricultural ministry and communications department, to Washington for a new round of high-level trade consultations at the invitation of the US side.
Source: Global Times | 2019/10/8 22:08:40

Caixin PMI for services misses expectation despite rising new orders

The Caixin purchasing managers' index (PMI) for the services sector in September indicates that China's services growth dropped to its lowest point in September despite a rise in new orders, while the composite PMI - which monitors activity in both services and manufacturing sectors - showed slight improvement, according to experts.
Source: Global Times | 2019/10/8 20:54:29

'Submarine' tunnel

Cars pass through the Baimashan vehicular tunnel in Ji'nan, East China's Shandong Province on Tuesday.
Source: Global Times | 2019/10/8 20:33:40

Nation's prospering elderly care industry boosts 'silver economy'

Traveling has become an indispensable part of life for Zhang Xuemin, a 66-year-old retiree. Having already made two trips this year - one to the island of Taiwan and the other to Shanxi, he is now planning another tour.
Source: Global Times - Xinhua | 2019/10/8 19:48:50

China's LPI rises in September after four months of decrease

The logistics prosperity index (LPI) in September rose for the first time in four months, reaching its highest point in the year, indicating robust business activities and increasing demands in the logistics industry, according to an industry report released on Tuesday.
Source: Global Times | 2019/10/8 16:55:49

Mainland banks condemn HK rioters' damage of ATMs, facilities

Mainland banks and associations in Hong Kong have strongly condemned the protesters who set fire to and vandalized several bank branches amid rampages over the weekend, reiterating that they have significantly contributed to the city's status as a global financial hub.
Source: Global Times | 2019/10/8 16:40:46

GE remains committed to Chinese market, says senior executive

The US-based International conglomerate General Electric Company (GE) would continue to invest and grasp opportunities in China, according to Rachel Duan, a high-ranking GE executive.
Source: Xinhua | 2019/10/8 15:41:09

China's services activities grew at lowest rate in seven months: Caixin PMI

The Caixin purchasing managers' index (PMI) for the services sector indicates that China's services growth dropped to its lowest point in September despite growing numbers of new business orders, while composite PMI monitoring business activities in both the services and manufacturing sectors witnessed a slight increase, according to the private survey released on Tuesday.
Source: Global Times | 2019/10/8 14:37:10

Chinese firms oppose latest US decision to bar 28 entities

Chinese companies on Tuesday expressed strong opposition toward a new US decision to place Chinese entities on a blacklist, saying such a move “lacks factual basis” and will eventually bring a negative impact to the US economy.
Source: Global Times | 2019/10/8 14:00:17

Number of tourists to Hong Kong plunges 50% during National Day holidays

Hong Kong's tourism sector suffered a significant downturn during the National Day holidays, with the number of tourists to the semi-autonomous city dropping roughly 50 percent in the first six days of the seven-day holiday, Hong Kong Chief Executive Carrie Lam said on Tuesday.
Source: Global Times | 2019/10/8 12:36:52

Chinese companies pioneer development of Suez Canal region, new Chinese projects underway: official

Chinese companies have been pioneering the development of the Egypt's Suez Canal Economic Zone (SCZone), while further contracts with giant Chinese companies of heavy industries are expected to be announced soon, the newly-appointed chairman of the SCZone told Xinhua in an interview on Monday.
Source: Xinhua | 2019/10/8 11:19:01

'Golden Week' brings consumption boom

Chinese people spent more than ever during the weeklong National Day holidays at home and abroad, showing that consumption power in the world's second-largest consumer market still has great potential.
Source: Global Times | 2019/10/7 22:43:39

Financial secretary reiterates no forex control in Hong Kong

Hong Kong financial secretary reiterated on Sunday that the city will not impose foreign exchange controls, which is guaranteed by the city's Basic Law.
Source: Global Times | 2019/10/7 21:48:40

Uncertainty remains ahead of China-US trade talks

China's trade delegation, led by Vice Premier Liu He, will depart for the US on Tuesday for another round of high-stake trade talks amid the ongoing trade war between the world's two largest economies.
Source: Global Times | 2019/10/7 21:48:40

Chief executive calls for public support for enforcement as city takes financial hit

Unprecedented violence has swept across Hong Kong, with rioters targeting banks and companies from the Chinese mainland in recent days, inflicting enormous financial losses as well as endangering the lives of residents.
Source: Global Times | 2019/10/7 21:48:39

China's forex reserves to remain stable against resilient economic backdrop: SAFE

China's foreign exchange reserves will remain stable with the support of the country's overall economic resiliency and potential, Wang Chunying, spokesperson for the State Administration of Foreign Exchange (SAFE) said in a statement on Sunday.
Source: Global Times | 2019/10/7 21:18:39

China's forex reserves falls to $3.09 trillion in Sept

China's foreign exchange reserve fell from $3.1072 trillion in August to $3.0924 trillion at the end of September, official data showed Sunday. The foreign exchange market showed a basic balance in supply and demand, according to SAFE's website.
Source: Global Times | 2019/10/6 21:13:52