BUSINESS >> Economy

US recklessness could trigger major recession, financial crisis: experts

The China-US trade war may be just between two countries, but its implications will be global and if it continues to escalate and expand, it could trigger a major recession and global financial crisis more severe than the one in 2008, top Chinese experts warned on Thursday.
Source: Global Times | 2019/6/13 22:48:40

China will fight to end if US keeps escalating trade frictions: MOC

"China will fight to the end if the United States continues to escalate trade frictions," the Ministry of Commerce (MOC) said Thursday.
Source: Xinhua | 2019/6/13 20:54:38

Commentary: China's trade growth strong enough to resist external pressure

Though faced with trade barriers set up by the United States, China's foreign trade remained steady, showing its ability to handle external headwinds.
Source: Xinhua | 2019/6/13 17:03:01

International rules are not a puppet in the hands of US politicians

In the eyes of some US politicians, the world is a theater of monodrama for America, while the international rules are just a puppet in their hands. In this monodrama, it is the United States that decides how the story goes.
Source: People's Daily | 2019/6/13 16:58:31

Chinese netizens reject UBS apology after issuing a 'racist' report on China's inflation

Chinese netizens were outraged on Thursday about a UBS report that used distasteful and racist language to analyze China's inflation and called for putting the Swiss bank on the Chinese Unreliable Entity List despite an apology for what it calls its “innocently intended comment.”
Source: Global Times | 2019/6/13 15:53:10

Swiss bank UBS apologizes after issuing a racist report on China's inflation

The Swiss investment bank apologized on Thursday after its report using disgraceful and racist language on China's inflation caused an outrage across Chinese social media.
Source: Global Times | 2019/6/13 15:27:42

China's foreign exchange market remains stable, to keep expanding: official

China has maintained a stable foreign exchange rate and will steadily improve the opening of its financial market, as well as promote the liberalization of cross-border trade and investments, Pan Gongsheng, deputy governor of the People's Bank of China (PBC), said at the Lujiazui Forum Thursday.
Source: Global Times | 2019/6/13 14:31:28

PBC injects liquidity into market

The People's Bank of China (PBC), China's central bank, on Thursday pumped 100 billion yuan (about 14.51 billion US dollars) into the financial system through open market operations.
Source: Xinhua | 2019/6/13 14:29:55

Outlook for quick solution to US-China trade war is grim: Chinese experts

Even as US President Donald Trump appears to be pushing for a restart of the deadlocked trade talks, many experts in China remain pessimistic about a quick resolution for the escalating trade war for the US government is unlikely to make compromises.
Source: Global Times | 2019/6/13 14:07:23

Chinese netizens call for official apology from UBS after it issues racist report on China's inflation

Chinese netizens on Thursday, outraged about a UBS report that used distasteful and racist language to analyze China's inflation, are calling for an official apology from the Switzerland-based investment bank.
Source: Global Times | 2019/6/13 14:06:37

China launches sci-tech innovation board, stressing further financial opening-up amid trade war

China's new science and technology innovation board, a NASDAQ-style tech board, was officially launched at the Shanghai Stock Exchange (SSE) Thursday, marking a brand-new era for the country's capital market and a major move to upgrade the transitioning economy amid US assaults against Chinese tech firms.
Source: Global Times | 2019/6/13 13:40:12

Moderate CPI leaves scope for monetary response

Consumer inflation in China posted relatively moderate growth in May, despite a significant surge in food prices, leaving sufficient room for monetary policy maneuvers as the country battles risks of slowing domestic growth and escalating trade tensions with the US, analysts said on Wednesday.
Source: Global Times | 2019/6/12 21:58:40

Google, Foxconn warned to be wary of disrupting supply chains

After Foxconn - major contractor of US technology giant Apple - and Google reportedly moved part of their production lines out of China, industry representatives and analysts said increasingly disrupted supply chains will cause serious damage to US technology companies and warned them not to take the risk.
Source: Global Times | 2019/6/12 20:33:40

More names added to travel bans for bad behavior in China

China banned 307 "discredited" people from taking trains in May, with 960 being restricted from taking planes, as part of an effort to build the country's social credit systems which officials vowed on Wednesday to accelerate to.
Source: Global Times | 2019/6/12 20:28:40

E-commerce boosts China-Russia ties, dampening impact of trade war

Booming cross-border e-commerce trade between China and Russia could provide a sneak peek into how the two countries, which are commemorating the 70th anniversary of the establishment of diplomatic relations, have been drawing closer in recent years.
Source: Global Times | 2019/6/12 15:48:40

China's CPI up 2.7% year-on-year in May, hitting 15-month high: official data

China's consumer price index (CPI), a main gauge of inflation, rose 2.7 percent in May from the same period in 2018, hitting a new high record for the past 15 consecutive months, official data showed Wednesday.
Source: Global Times | 2019/6/12 13:43:47

Global economic downturn tests wisdom of G20 countries

Two closely watched G20 meetings held Sunday in Japan discussed escalating economic and trade friction and downside risks to the global economy, but failed to reach a consensus against protectionism due to US obstruction.
Source: Xinhua | 2019/6/12 8:55:47

AIIB to offset negative impact of trade war by stabilizing, boosting economies

As a multilateral financial institution initiated by China, the Asian Infrastructure Investment Bank (AIIB) will assume a more important role in stabilizing and boosting the economies of its 97 members to counter the negative effects brought by the China-US trade war, a senior executive said.
Source: Global Times | 2019/6/11 22:03:41