SOURCE >> Economy

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

US fried chicken chain Popeyes receives warm welcome in China

US fried chicken restaurant chain Popeyes received a warm welcome from Shanghai locals on Friday as it opened its first branch in the Chinese mainland. Chinese customers waited in long lines outside the restaurant, eagerly waiting to sample the fried food. Police were at the scene to maintain order.
Source: Global Times | 2020/5/15 12:48:06

China posts stronger industrial output in April

China's industrial output, investment and retail sales firmed in April, as the world's second-largest economy entered the second month of its reboot. 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 10:26:37

China's industrial output up 3.9 pct in April as activities recover

China's value-added industrial output, an important economic indicator, went up 3.9 percent year on year in April as factory activities gradually recovered on easing containment measures against the novel coronavirus, data from the National Bureau of Statistics showed Friday.
Source: Xinhua | 2020/5/15 10:12:16

US jobless claims climb by nearly 3 mln last week amid COVID-19 pandemic

The number of initial jobless claims in the United States totaled nearly 3 million last week as the COVID-19 pandemic continues to sweep the nation, the Labor Department reported Thursday.
Source: Xinhua | 2020/5/15 7:58:19

China plans Guangzhou futures exchange, to boost Greater Bay Area

China's financial authorities on Thursday unveiled plans to set up a futures exchange in Guangzhou, South China's Guangdong Province to ramp up financial support for the Guangdong-Hong Kong-Macao Greater Bay Area.
Source: Global Times | 2020/5/14 21:18:40

Fitch gains access to China's credit ratings market

Fitch Ratings, a US-based rating agency, has been granted access to China's credit rating market via its wholly owned subsidiary, the central bank announced on Thursday.
Source: Global Times | 2020/5/14 21:08:40

Australia to pay heavy economic price, if acting as a US attack dog: experts

Australia will have to pay an economic price if the South Pacific nation, blinded by lust to act as a US attack dog, opts to destroy ties with its most important trade partner, a GT Source investigation into the mainstay of its business bonds with China - including farm produce, iron ore, tourism and higher education - has found.
Source: Global Times | 2020/5/14 20:38:40

China's 2020 fiscal deficit target to exceed 3%: economists

China is on track to set its annual fiscal deficit target beyond 3 percent for 2020 – one of the most-watched economic goals to be unveiled at the forthcoming annual two sessions –to pump more support into its coronavirus-hit economy, experts said.
Source: Global Times | 2020/5/14 20:03:40

China's economy to show signs of significant improvement in April: analysts

China's economy will show signs of significant improvement in April as the coronavirus pandemic ebbs, with industrial output forecast to grow in the positive territory. Fixed-asset investment is expected to contract 10 percent and retail sales 6 percent year-on-year, respectively, Chinese economists said.
Source: Global Times | 2020/5/14 19:28:40

China seeks to separate trade from diplomatic row with US: experts

China is seeking to compartmentalize rising tensions with the US over a wide range of issues from trade to the COVID-19 pandemic by separating the phase one trade agreement from escalating diplomatic row, as it paved the way for increasing purchase of US agricultural products on Thursday.
Source: Global Times | 2020/5/14 18:13:40

China's FDI reverses decline in April with 11.8% growth: MOFCOM

Foreign direct investment (FDI) in China rose 11.8 percent year-on-year to 70.36 billion yuan ($9.9 billion) in April, after dropping in the previous two months due to the COVID-19 outbreak, official data showed on Thursday.
Source: Global Times | 2020/5/14 17:38:41

US regulator not rejecting BYD's N95 masks

US authorities have not struck down Chinese company BYD's bid for exporting its N95 masks to the country, sources said.
Source: Global Times | 2020/5/14 15:18:40

Jiangsu Province sees its exports jump 19.1% in April

East China's Jiangsu Province, an economic powerhouse in the country, said it has seen its exports rise again since the outbreak of COVID-19. Jiangsu's positive export figures is a sign that China's foreign trade is recovering fast.
Source: Global Times | 2020/5/14 14:39:54

China's rare earth exports drop 20-30%, crippled by COVID-19 outbreaks abroad

China's rare earth industry faces rising pressure due to overseas COVID-19 outbreaks, with exports falling 20 to 30 percent since April, while domestic demand has yet to return to pre-crisis levels, industry insiders told the Global Times.
Source: Global Times | 2020/5/14 13:55:37

China's grain reserve is adequate, able to meet domestic demand for over a year

China's grain inventory can meet domestic demand for more than a year, according to a thorough investigation of grain reserve in the country.
Source: Global Times | 2020/5/14 11:25:42

Can trade ties help avert a China-US war?

Many international relations experts have painted a rather dark picture for the China-US bilateral relationship. In their view, a war might be inevitable given the US' seemingly all-out campaign against China over the fallout regarding the COVID-19 pandemic. But in China, a more optimistic and firm belief among former officials and top experts still persist that the highly intertwined economic interests of the two countries will help prevent a hot war.
Source: Global Times | 2020/5/13 22:33:12