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US unlikely to default on its debt held by China: experts

It is unlikely the US government will default on its debt held by China and other countries, as some US politicians have suggested, but the threat signals Washington's lack of confidence, as the US' leading economic position is being challenged by China, Chinese financial experts say.
Source: Global Times | 2020/5/17 19:53:40

China's provinces compensate wildlife farmers to exit sector, start other businesses

Provinces including Central China's Hunan, South China's Guangdong and East China's Jiangxi released policies Sunday to compensate farmers who stop breeding wild animals that are now banned from being eaten, as part of a move to maintain environmental safety and protect people's health.
Source: Global Times | 2020/5/17 19:48:40

European mask buyers 'not clearly state their needs,' complain about quality

The failure of European buyers and their middlemen to clearly state their needs, combined with insufficient knowledge of the Chinese face mask industry, may have led to the imports of masks that have been categorized as "substandard," industry insiders said on Sunday after the EU suspended delivery of 10 million Chinese masks.
Source: Global Times | 2020/5/17 18:08:40

Chinese universities give $112-422 in subsidies to fresh graduates from Wuhan

Chinese universities have rolled out relief policies to fresh graduates from Central China's Hubei province with subsidies worth 800 ($112) to 3,000 yuan ($422) to help stabilize employment, which took a hit from the coronavirus outbreak.
Source: Global Times | 2020/5/17 14:33:40

China's financial sector well-equipped to weather COVID-19-plagued global financial storm: senior official

China grasped upon a pivotal window of opportunity in 2019 for its financial sector to be market-oriented, law-based, and globalized, well-equipping its markets to weather a coronavirus-induced global financial tsunami in 2020, Lu Lei, deputy head of China's foreign exchange regulator, said on Saturday.
Source: Global Times | 2020/5/16 19:53:48

China set to be world's first major country to launch digital currency: expert

China's digital currency experiment has advanced stably amid the COVID-19 outbreak, and China will become the first major country to launch digital currency in the world, an industry insider said Saturday.
Source: Global Times | 2020/5/16 19:08:58

China readies biggest counterattack against US

China is ready to take a series of countermeasures against a US plan to block shipments of semiconductors to Chinese telecom firm Huawei, including putting US companies on an "unreliable entity list," launching investigations and imposing restrictions on US companies such as Apple, and halting purchase of Boeing airplanes, a source close to the Chinese government told the Global Times.
Source: Global Times | 2020/5/15 20:07:49

US' new Huawei ban only shoots itself in the foot: Expert

US' new Huawei ban would only shoot itself in the foot, blow the global supply chain cooperation, and damage its own credibility, experts said.
Source: Global Times | 2020/5/16 18:13:40

Shanghai puts phase one of China's exclusive special comprehensive bonded zone into operation

The Yangshan Special Comprehensive Bonded Zone, China's current exclusive special comprehensive bonded zone, built to promote further opening-up of the country, announced to put its first phase into use on Saturday, after it passed central government's acceptance tests on Tuesday.
Source: Global Times | 2020/5/16 16:01:26

China's timely policy response has proved effective in propping up coronavirus-hit economy: top financial influencers

China's timely macroeconomic policy response to the coronavirus outbreak has proved effective in propping up its economy that's on track for positive growth in 2020, top Chinese financial influencers said Saturday at a high-profile online forum.
Source: Global Times | 2020/5/16 14:11:50

Tencent tests facial recognition in games as part of anti-addiction measures for minors

Chinese tech company Tencent is testing the application of facial recognition in games as part of further anti-addiction measures for minors under the age of 18, media reports said.
Source: Global Times | 2020/5/15 20:35:24

China ready to target Apple, Qualcomm, Cisco and Boeing in retaliation against US' Huawei ban: source

China is ready to take a series of countermeasures against a US plan to block shipments of semiconductors to Chinese telecom firm Huawei, including putting US companies on an "unreliable entity list," launching investigations and imposing restrictions on US companies such as Apple and suspending the purchase of Boeing airplanes, a source close to the Chinese government told the Global Times.
Source: Global Times | 2020/5/15 19:55:58

CNOOC unveils state-of-art FPSO vessel to tap oil, gas reserves in South China Sea

Chinese state-owned China National Offshore Oil Corporation (CNOOC) unveiled a home-grown floating production storage and offloading vessel, known as an FPSO, with the deepest working depth, at 420 meters underwater, on Friday.
Source: Global Times | 2020/5/15 19:18:40

GT Investigation: What's at stake for Australia to be US' attack dog?

The following is a Global Times investigation into the four trade areas between China and Australia that could be at risk if Canberra continues to exacerbate bilateral relations.
Source: Global Times | 2020/5/15 18:48:40

Trump's push for listing Chinese firms to follow US accounting rules another assault from Washington: analysts

US President Donald Trump is reportedly considering requiring Chinese firms to follow US accounting rules if they want to list on US stock exchange – another assault from Washington against Beijing – which could block more Chinese firms from US market financing, industry insiders said.
Source: Global Times | 2020/5/15 17:43:40

China's better-than-expected economic transcript after 1st full month of work resumption injects confidence in world economy: experts

China's industrial output, investment and retail sales rebounded in April, the first full month after the world's second-largest economy resumed work and production after the worst of the coronavirus epidemic had passed in China. However, analysts warned that there would be mounting pressure to maintain the momentum given the persisting disruption of the COVID-19 pandemic on the domestic and international economies.
Source: Global Times | 2020/5/15 15:58:40

China Mobile and partners to build undersea cable connecting Africa and Middle East

China Mobile, in partnership with US tech firm Facebook, South Africa's MTN, France's Orange, Britain's Vodafone and other network operators, will jointly construct a 37,000-kilometer-long underwater cable to bring enhanced network services to Africa and Middle East, which is home to 1.8 billion people, the Global Times learned from the Chinese carrier.
Source: Global Times | 2020/5/15 13:38:10

China's April unemployment data below expectations, analysts call for precise relief measures

China posted slightly worse unemployment data on Friday and analysts are now urging the government to roll out more targeted measures to shore up jobs.
Source: Global Times | 2020/5/15 13:13:12