BUSINESS >> Economy

Yuan stabilizes after dip below 7

The yuan's weakening past 7 against the US dollar and Washington's move to label China as a “currency manipulator” won't have any outsize negative impact on China although it will affect market sentiment, industry analysts said.
Source: Global Times | 2019/8/7 18:53:40

Ofo launches shared-bike docking service in Shenzhen to alleviate capital crunch

Chinese bike-sharing platform ofo has rolled out a “docking service” in Shenzhen, South China's Guangdong Province, that requires users to park shared bikes in specific parking areas after use. The move represents the latest effort from players in the bike-sharing industry to save themselves from capital crunch and overcome regulatory hurdles.
Source: Global Times | 2019/8/7 16:48:40

Xiamen city to hold internatial investment & trade fair in September

Xiamen will hold the China International Fair for Investment and Trade (CIFIT) 2019 on September 8, and it is expected to attract more than 3,000 entrepreneurs from 120 countries and regions, the organizer said on Wednesday.
Source: Global Times | 2019/8/7 14:08:40

Chinese investment bank AMTD International shines on US trading debut

AMTD International, a Hong Kong-based investment bank and asset manager, extended solid gains on Monday after it commenced trading on the New York Stock Exchange (NYSE) under the ticker symbol "HKIB."
Source: Xinhua | 2019/8/7 11:48:52

'Currency manipulator' label of US groundless: analysts

Following US President Donald Trump's series actions which are leading to global trade and financial chaos, the US Treasury moved to name China a "currency manipulator" on Monday, which was denounced by China's central bank and Chinese economists as groundless and self-destructing.
Source: Global Times | 2019/8/6 23:08:40

China Telecom says 5G standalone network realizes terminal commercialization

Domestic carrier China Telecom said on Tuesday that it has accomplished the comprehensive connection between the 5G standalone (SA) network terminal chip and systems of multiple companies, marking the commercialization of the 5G SA network in terminals.
Source: Global Times | 2019/8/6 21:58:40

Shanghai's Lingang area to deepen opening-up

The Lingang New Area of the China (Shanghai) Pilot Free Trade Zone (FTZ) will be benchmarked against high international standards to compete with the top FTZs worldwide with some of the most preferential policies to ensure the opening up of the Chinese economy, according to a press conference held by the Ministry of Commerce on Tuesday.
Source: Global Times | 2019/8/6 21:58:40

HK aviation sector risks losing passengers if it indulges protesters

Hong Kong's aviation industry risks losing its passengers to adjacent regions if they don't quickly make their stance clear and continue to indulge protestors who wantonly obstruct their normal operations, according to analysts.
Source: Global Times | 2019/8/6 21:48:40

China multiplies farm import channels as trade war escalates

Chinese companies are rushing to expand import channels as the nation's trade relationship with the US, which it has relied heavily upon for the imports of certain farm products, teeters on the edge.
Source: Global Times | 2019/8/6 21:18:40

PwC draws a clear line from HK riots and protesters after public anger

PwC, one of the big four accounting firms, which has been under fire for its vague statement on its Hong Kong stance, told the Global Times in an exclusive interview that the firm “wants to draw a clear line” from riots and protesters who have severely disrupted the social order of Hong Kong.
Source: Global Times | 2019/8/6 20:28:40

Data theft case prosecuted in eastern Zhejiang Province

A group of seven people were referred for prosecution in a data theft case by the procuratorate in Shaoxing, East China's Zhejiang Province, media reports said Tuesday. Analysts said the case shows that internet companies should develop high technology to defend against possible attacks on data.
Source: Global Times | 2019/8/6 20:10:58

Insurance sector hit by Hong Kong unrest

Representatives of Hong Kong's financial sector, including insurance companies, are expressing deep concern about rising unrest in the city and calling for the restoration of order to avoid an erosion of investors' confidence in local economic growth.
Source: Global Times | 2019/8/6 19:33:40

US plan to contain China's rise would end in failure: experts

Washington's plans to contain China's economy would end in failure and the price to be paid by the US will far exceed its imagination as it provokes a massive trade war, Chinese experts warned on Tuesday.
Source: Global Times | 2019/8/6 18:18:40

Beijing homeowners take back control with technological tools

When property managers failed in their roles, tech-savvy residents in a Beijing apartment complex took matters into their own hands through voting by phone.
Source: Xinhua-Global Times | 2019/8/6 17:23:41

Hot on the tracks of China-Laos railway construction

Rainy season is relatively cool in late July for the Namor District of Oudomxay Province, some 400 kilometers north of the Lao capital Vientiane, while at the Ban Konlouang Tunnel construction site inside the mountains there, Chinese workers are sweating.
Source: Xinhua-Global Times | 2019/8/6 17:23:40

China to mass produce 400km/h high-speed trains by the end of 2019

A committee of experts in China has approved a design scheme for high-speed train that could run at a speed of 400 kilometers an hour, and the train will be launched before 2022 to serve the Beijing Winter Olympic Games.
Source: Global Times | 2019/8/6 14:08:40

Tokyo stocks open sharply lower amid global rout on trade concerns

Tokyo stocks opened sharply lower on Tuesday with markets here following on from a global equities rout triggered by rising concerns over trade issues.
Source: Xinhua | 2019/8/6 9:48:03

Dow plunges more than 900 points amid concerns over trade tensions

US stocks plunged in the afternoon session on Monday with the Dow dropping more than 900 points, as investors worry that US President Donald Trump's threatened new tariffs on Chinese imports will worsen trade prospects.
Source: Xinhua | 2019/8/6 7:16:19