BUSINESS >> Economy

US fashion house Coach facing potential boycott in China

US fashion brand Coach has sparked online outrage on Chinese social media after it was found to list Hong Kong and Taiwan as “countries” on its products and website. Chinese model Liu Wen, a current brand ambassador for Coach, halted cooperation with the brand on Monday.
Source: Global Times | 2019/8/12 12:19:56

US beef producers expect closer collaboration with China

US beef producers are looking forward to gaining a larger share in China, one of the fastest-growing beef markets in the world, an industry expert has said.
Source: Xinhua | 2019/8/12 11:14:44

Chinese yuan weakens to 7.0211 against USD Monday

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 75 pips to 7.0211 against the US dollar Monday, according to the China Foreign Exchange Trade System.
Source: Xinhua | 2019/8/12 10:31:19

China Shouguang vegetable price index up 1.98 pct

The China Shouguang vegetable price index, a barometer of the country's vegetable market, rose 1.98 percent to 110.56 points on Monday.
Source: Xinhua | 2019/8/12 9:33:47

US stocks post weekly losses amid trade tension concerns, earnings

US stocks posted losses after a roller-coaster ride throughout the past week as the market monitored the latest development of US-China trade tensions and quarterly corporate earnings results.
Source: Xinhua | 2019/8/12 7:40:11

Trade war could morph into currency war as US is likely to escalate conflict: Chinese experts

Escalating financial friction between China and the US as a side effect of the trade war is becoming a hot topic among Chinese economists, with some of them cautioning that the trade row might worsen into a finance war between the two countries.
Source: Global Times | 2019/8/11 19:53:39

China's first-tier cities build nearly 20,000 5G base stations: media reports

Almost 20,000 5G base stations have already been deployed in China, 90 percent of which have been built in first-tier cities, media reports said. An expert attributed the concentration to the cities' denser populations and rising demand for 5G services.
Source: Global Times | 2019/8/11 18:48:40

Huawei to develop Harmony ecosystem to help industry break US domination

During its annual developer conference over the weekend, Huawei has shown its goal of making its Harmony operating system (OS) a new hit and building a global developer ecosystem for it, instead of just making it a plan B to cushion the impact of the US attack on the company.
Source: Global Times | 2019/8/11 18:48:40

China continues to support Botswana as its new government seeks better ties with Beijing

Botswana, a small inland country in southern Africa, is ramping up efforts to strengthen economic and trade ties with China, as the new administration in Gaborone bets on China and other emerging markets to play a vital role to propel the country's economic transformation.
Source: Global Times | 2019/8/11 18:08:39

Chinese-built industrial park boosts local employment, enriches life

Jibril Tessa, a Human Resources Manager at the China Civil Engineering Construction Corporation (CCECC) is excited when he talks about his contribution to the construction of Adama Industrial Park, located 74 kilometers southeast of Ethiopia's capital Addis Ababa.
Source: Xinhua-Global Times | 2019/8/11 16:33:40

Chile's cherry exports to Chinese market offer growth opportunity for producers

China's booming demand for Chilean cherries has improved the quality of life for people in production zones, a Chilean guild president said.
Source: Xinhua-Global Times | 2019/8/11 16:33:39

Upgraded Walvis Bay port to boost Namibia's economy, tourism sector

The expansion of the container terminal at Namibia's coastal town of Walvis Bay is expected to bring business opportunities for the country, especially for residents in the town. For David Hamupembe, a middle-aged instructor at the maritime school of Walvis Bay, the expansion has brought an opportunity to start a business of his own.
Source: Xinhua-Global Times | 2019/8/11 16:13:39

US stock buybacks to remain elevated without policy change in sight

The amount of money spent by US listed companies in buying back their own shares would continue to stay at a high level amid low interest rates and the low possibility of a new legislation to restrict such practice, according to industry insiders.
Source: Xinhua | 2019/8/11 11:49:09

Chinese people's disposable income surges 60 times in past 70 years

Chinese residents saw their per capita disposable income surge by nearly 60 times during the past seven decades thanks to the country's steady economic expansion.
Source: Xinhua | 2019/8/11 10:33:07

CBOT futures search for direction amid trade tensions, weather risks

Chicago Board of Trade (CBOT) agricultural futures ended this past trading week higher, and traders tried to square their positions ahead of a key monthly crop report to be released next Monday.
Source: Xinhua | 2019/8/11 8:43:01

Japanese car sales hit bump in South Korea amid diplomatic row

Sales of Japanese-branded autos in South Korea slumped in July amid a worsening diplomatic row that has led to consumer boycotts and efforts by Seoul to cut the economy's reliance on imports from Japan.
Source: Reuters-Global Times | 2019/8/10 18:43:40

Turkey, China show desire to expand cooperation under BRI

Turkey and China have expressed their desire to expand cooperation through concrete steps under the China-proposed Belt and Road Initiative (BRI) which is at the core of their growing economic partnership.
Source: Xinhua | 2019/8/10 12:03:10

Singapore plays unique role in connecting Chinese investments, technologies with Southeast Asian markets

At the waterfront of the Singapore River, an exhibition of porcelain bowls and gold artifacts dating back to China's Tang Dynasty (618-907 AD) offers a glimpse to how this region was importantly situated on an ancient trade route.
Source: Xinhua | 2019/8/10 11:55:01