BIZ

US tariffs on China borne by Americans, unlikely to resolve trade imbalances, IMF experts say


The International Monetary Fund (IMF) warned Wednesday that American importers and consumers are footing the bill for the US administration's tariffs imposed on Chinese goods, and that the levies won't resolve the trade imbalance between the two economies.


Huawei's home suppliers bask in trade war windfalls

Domestic electronic suppliers have reported surging first-half profits estimates thanks to their relationships with technology giant Huawei, experts said, with the latter speeding up efforts to nurture a supply chain in the Chinese mainland as pressure mounts from the US government.
Source: Global Times | 2019/8/21 19:29:44

Shenzhen to head research into national digital currency

Research into a national digital currency, as mentioned in a central government document on Shenzhen's development, will start soon under the guidance of China's central bank.
Source: Global Times | 2019/8/21 18:15:17

Indian drugmakers eyeing Chinese market

Indian drugmakers, who came to the Chinese public's attention after the release of China's record-breaking film Dying to Survive last year, have been striving to make their foray into the world's second-largest economy at a faster-than-expected speed.
Source: Global Times | 2019/8/21 17:03:40

Huawei's 5G business not impacted by US ban: Ren Zhengfei

Huawei founder and CEO Ren Zhengfei said that his company does not need to rely on US companies to roll out fifth generation (5G) wireless communication equipment.
Source: Global Times | 2019/8/21 16:33:15

Pro-riot Cathay Pacific pilot confirmed to be leaving office

Another pilot from Hong Kong Special Administrative Region's flagship airline, Cathay Pacific Airways, was confirmed to be leaving office on Wednesday. He had earlier reportedly broadcasted pro-riot views in-cabin, and claimed that he chose to resign in order to “protect the company.”
Source: Global Times | 2019/8/21 15:43:40

Robotics industry sees booming growth in China

Industrial robot production in China reached 148,000 pieces in 2018, accounting for more than 38 percent of the world's total, according to a Chinese official at the 2019 World Robot Conference.
Source: Xinhua | 2019/8/21 14:01:45

FAW-Volkswagen opens new proving ground in northeast China

Sino-German joint venture FAW-Volkswagen has put its new proving ground into use in the north of Changchun, capital of northeast China's Jilin Province.
Source: Xinhua | 2019/8/21 10:07:12

US dollar falls amid declining US Treasury yields

The US dollar decreased on Tuesday, as long-term US Treasury yields retreated again, raising worries over potential economic slowdown.
Source: Xinhua | 2019/8/21 8:22:24

US stocks close lower amid earnings, recession fears

US stocks closed lower Tuesday as investors digested corporate earnings reports with overhanging concerns of a possible economic recession.
Source: Xinhua | 2019/8/21 7:36:20

Shanghai FTZ grows in size, ambitions as it pursues breakthroughs in trade, finance

The China (Shanghai) Pilot Free Trade Zone (FTZ) on Tuesday added a new area that occupies 119.5 square kilometers of Lingang in the southeastern part of the city. Chinese analysts said the addition, which nearly doubled the size of the Shanghai FTZ, will bring vigor and confidence to the region.
Source: Global Times | 2019/8/20 20:43:40

Plan to make Shenzhen a 'model' city also an answer to US trade aggression, HK situation

Four decades ago, a small fishing village started groundbreaking reform and opening-up policies that changed the fate of China. Today, Shenzhen in South China's Guangdong Province is a technology powerhouse that's being asked once again to lead the country into a new era of high-quality growth.
Source: Global Times | 2019/8/20 20:48:41

HSBC left off list of rate-setting banks in China's interest rate mechanism reform

HSBC, which has the largest assets among foreign banks in the Chinese mainland, was not selected by the People's Bank of China (PBC), China's central bank, as one of the 18 rate-setting banks including two overseas banks in its recent interest rate mechanism reform.
Source: Global Times | 2019/8/20 20:48:40

Domestic-listed firms see opportunities in Shenzhen as model area

Companies listed in the A-share stock market have new opportunities in sectors including advanced technology, manufacturing and biotechnology in Shenzhen, South China's Guangdong Province, with the release on Sunday of a national master plan to build the city into a model area.
Source: Global Times | 2019/8/20 20:43:40