BUSINESS >> Economy

No timetable to launch digital currency: central bank governor

Research and development involving China's digital currency has made progress, but the country has no timetable to launch a digital currency yet, the central bank governor said on Tuesday.
Source: Global Times | 2019/9/24 22:48:40

EU business group's SOE criticism biased: analysts

Foreign companies that do business in China should realize that the country's business environment has evolved to be highly competitive and respect corresponding rules, rather than pointing fingers at the process of state-owned enterprise (SOEs) reforms and blaming their failures on competition from SOEs, Chinese analysts said.
Source: Global Times | 2019/9/24 21:58:40

China not rushing for interest rate cuts, quantitative easing: central bank chief

China is not in a rush to adopt large-scale quantitative easing or make interest rate cuts, Yi Gang, governor of the People's Bank of China (PBC), the country's central bank, said on Tuesday.
Source: Global Times | 2019/9/24 21:53:40

First Greater Bay Area ETF raises more than $844m

The first exchange traded fund (ETF) tracking companies based in the Guangdong-Hong Kong-Macao Greater Bay Area had raised more than 6 billion yuan ($844 million) by the end of Monday, a reflection of domestic investors' optimism and anticipation involving the area's economic leap, analysts told the Global Times on Tuesday.
Source: Global Times | 2019/9/24 20:08:40

China has no timetable to launch digital currency: central bank governor

China's research and development of digital currency has achieved positive progress, but the country has no timetable to launch a digital currency so far, a Chinese official said on Tuesday.
Source: Global Times | 2019/9/24 12:16:13

China maintains prudent monetary policy, avoids massive stimulus: central bank chief

China will maintain its prudent monetary policy and a stable leverage ratio and will not adopt "flood-irrigation stimulus" plans, Yi Gang, governor of the People's Bank of China (PBC), the country's central bank, told a press conference on Tuesday.
Source: Global Times | 2019/9/24 11:36:16

China is largest contributor to world economic growth: official

China's economy has had significant achievements over the past 70 years, and is the largest contributor to the world's economic growth.
Source: Global Times | 2019/9/24 11:06:03

US outdoor industry fears "winter is coming" amid trade tensions

"The punitive tariff payments are essentially new taxes on American businesses and consumers, forcing American companies to halt new hiring, close new product lines and absorb these unexpected costs wherever they can."
Source: Xinhua | 2019/9/24 9:57:50

HK section of high-speed rail needs time to draw riders: analyst

The Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link marked its first year of operation on Monday with a decline in ridership in recent months, which experts said shows the line needs more time to attract regular passengers.
Source: Global Times | 2019/9/23 21:48:39

Alibaba to explore overseas market under new chairman

Led by a new chairman, Alibaba Group Holding, the largest e-commerce company in China, has put globalization ahead of domestic demand and big data/cloud computing in its future strategy, which shows it is inclined to put more effort into exploring overseas markets, experts told the Global Times on Monday.
Source: Global Times | 2019/9/23 19:53:40

Hong Kong IPOs take turn for the better as city contains unrest

IPOs on the Hong Kong stock market are rebounding, helping the financial hub to foster its position, a report by global accountancy giant Deloitte said.
Source: Global Times | 2019/9/23 19:43:40

Rare-earth industry moving up industry chain, doesn't seek monopoly: executive

The global dominance of China's rare-earth industry reflects expedited moves toward high-end manufacturing, rather than a monopoly tactic, said an executive of a leading Chinese rare-earth company.
Source: Global Times | 2019/9/23 19:13:40

Macao visitor arrivals up by 6.5 pct in August

Visitor arrivals to Macao increased by 6.5 percent year-on-year to 3.62 million in August 2019, with surging same-day visitors and shrinking overnight ones, the special administrative region (SAR)'s statistics department said on Monday.
Source: Xinhua | 2019/9/23 17:48:43

Chinese, German auto sectors step up cooperation amid headwinds

This year's International Motor Show (IAA) in Frankfurt was held at a time marked by both industrial transformation and uncertainties in global trade, with a fewer number of exhibiting brands and smaller area for exhibition.
Source: Xinhua | 2019/9/23 13:18:05

HK seeks opportunities in Greater Bay Area amid trade pressure, riots

Hong Kong, as a global trade hub, has been suffering from the ongoing trade war between China and the US as well as the ongoing unrest in the region, as it saw its exports drop for nine consecutive months. Hong Kong authorities and business representatives aim to increase logistics efficiency while accelerating integration into the Guangdong-Hong Kong-Macao Greater Bay Area to deal with external pressure and uncertainties.
Source: Global Times | 2019/9/22 22:33:40

Silicon wafer maker's Hangzhou plant to ease foreign monopoly

A silicon wafer producer based in Hangzhou, East China's Zhejiang Province, unveiled a plant over the weekend that can challenge foreign suppliers' monopoly of the important industrial input used to produce chips, local news site reported over the weekend.
Source: Global Times | 2019/9/22 20:48:40

Chinese regulators assess apps, order firms to improve data security

The Office of Central Cyberspace Affairs Commission (CAC) has assessed about 600 mobile apps and more than 200 have been ordered to improve data security, according to the Xinhua News Agency.
Source: Global Times | 2019/9/22 19:33:39

China's digital currency not to come as early as speculated

Refuting media reports of launching a national digital currency in November, China's central bank termed press reports as an "inaccurate speculation."
Source: Global Times | 2019/9/22 15:59:10