BUSINESS >> Markets

Foreign investors drawn by safe-haven assets, easier access

The Chinese economy may be showing signs of a slowdown, but foreign investors, particularly central banks and sovereign funds, appear unconcerned as they continue to pour large sums into purchasing Chinese government bonds. And they are poised to further increase their positions as greater access to the Chinese bond market is expected.
Source: Global Times | 2018/12/16 21:18:39

China should 'defend yuan at 7 per dollar'

China should not allow the yuan to fall below 7 per dollar, or attempts to stabilize the currency will become more costly on the country's foreign exchange reserves, Sheng Songcheng, an adviser to the People's Bank of China, said on Saturday.
Source: Reuters-Global Times | 2018/12/16 19:23:39

Shop Fresh

A view of JD.com's 7Fresh, a “new retail” supermarket that combines online and offline sales, in a shopping mall in Xi'an, capital of Shaanxi Province on Sunday. The store, which opened on Sunday and also marked JD.com's first “new retail” supermarket in Northwest China, supports cutting-edge technology such as face-scanning payment. JD.com launched 7Fresh after its competitor Alibaba Group hit the market with Hema supermarket. Photo: IC
Source: IC | 2018/12/16 17:48:39

Dollar scales to 19-month peak as gloom grows

The dollar rose to a 19-month high against a basket of currencies on Friday, as worrisome political and economic news outside the US drove a strong bid for the safety of the greenback.
Source: Reuters-Global Times | 2018/12/16 17:43:40

Chinese firm halts cobalt purchases from Glencore: sources

Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said.
Source: Reuters-Global Times | 2018/12/16 17:43:39

Shares slump as data shows cooling economy

Chinese shares slumped on Friday after climbing up for three straight sessions, with investor worries about the state of the domestic economy rising on fresh data that showed weakening consumer sentiment.
Source: Global Times - Reuters | 2018/12/16 17:38:39

Chile's fruit exports to China hit record highs

Chile's fruit exports reached record levels in the first 11 months of the year, largely driven by Chinese consumer demand for cherries, plums and grapes, according to official sources.
Source: Xinhua | 2018/12/15 10:59:13

China's commercial banks' net profits to grow 7.1 pct in 2018: report

China's commercial banks will post sound performance in 2018, with their combined net profits likely to grow 7.1 percent year on year, the Bank of Communications forecast.
Source: Xinhua | 2018/12/15 10:13:03

US soybeans fall despite more Chinese purchases

Chicago Board of Trade (CBOT) soybean futures continued to fall, though more export sales to China were reported on Friday.
Source: Xinhua | 2018/12/15 9:26:50

China's 360 Finance makes Nasdaq debut

360 Finance, a Chinese fintech company, rang the Nasdaq MarketSite opening bell on Friday in celebration of its initial public offering (IPO).
Source: Xinhua | 2018/12/15 8:40:28

Apple to push software update in China as Qualcomm case threatens sales ban

Apple Inc, facing a court ban in China on some of its iPhone models over alleged infringement of Qualcomm Inc patents, said on Friday it will push software updates to users in a bid to resolve potential issues.
Source: CGTN | 2018/12/15 8:14:31

China auto market likely to have its worst year in 2019

China's auto market will continue to see sluggish sales in 2019, with zero growth predicted for the first time in three decades, and carmakers should get prepared for the downturn that will be complicated by lower tariffs on imported vehicles, industry representatives said.
Source: Global Times | 2018/12/14 22:13:31

Beijing to cut tariffs on US cars for three months in sign of good faith

China announced on Friday it will suspend recently-imposed tariffs on US-made autos and components for three months, involving 211 items, reflecting the country's good faith in seeking solutions to the China-US trade spat that should be appreciated by the US government, Chinese experts said.
Source: Global Times | 2018/12/14 21:05:26

US budget deficit hits record 204.9 bln USD in November

The US federal budget deficit spiked to a record 204.9 billion US dollars in November, the second month of the government's fiscal year 2019, the Treasury Department said Thursday.
Source: Xinhua | 2018/12/14 14:07:21

China's rental market expected to see big growth by 2022

It is expected that 750,000 new rental apartments will be available by 2022 in China's six major cities, according to a report released by property consultancy JLL this week.
Source: Xinhua | 2018/12/14 10:08:00

China's FDI drops 27.6% in Nov due to high comparison base last year: MOFCOM

Foreign direct investment (FDI) in China dropped 27.6 percent year-on-year in November to $13.6 billion due to a high base during the same period last year, Gao Feng, spokesperson of the Ministry of Commerce (MOFCOM), said on Thursday.
Source: Global Times | 2018/12/13 22:28:43

PBC skips open market operations

The People's Bank of China, the country's central bank, on Thursday skipped reverse repos for the 35th consecutive trading day, the longest stretch since early 2016, citing reasonable and sufficient liquidity in the banking system.
Source: Xinhua | 2018/12/13 22:18:42

China praises poultry deal with the EU, saying agreement will benefit importers, consumers

The recent agreement between China and the EU on a Chinese poultry tariff quota shows that the multilateral trading system plays a vital role in maintaining the world trade order, and the agreement will help create a fair trade environment for the domestic industry, a senior Chinese official of the Ministry of Commerce (MOFCOM) said Thursday.
Source: Global Times | 2018/12/13 22:18:40