SOURCE >> Economy

China tightens regulation of large banks to avoid 'too big to fail' problem

China's central bank, along with the top banking industry regulator, on Thursday released new rules for assessing large domestic banks that should be deemed systemically important in a bid to forestall the "too big to fail" problem that threatens financial stability.
Source: Global Times | 2020/12/5 0:48:47

China, EU send strong signal for finishing investment deal talks by year's end

China and the EU on Friday sent another strong signal that they are pushing to wrap up negotiations for a sweeping bilateral investment treaty (BIT) before year's end as planned and before US President-elect Joe Biden is set to take office in January, as senior officials held a "constructive" phone call on the negotiations.
Source: Global Times | 2020/12/4 22:34:55

US urged to stop abusing 'state power' in crackdown on Chinese firms

China's leading chipmaker Semiconductor Manufacturing International Corporation (SMIC) said on Friday that the US' blacklisting would not result in any major impacts on its operations and denied US allegations over its relationship with the Chinese military.
Source: Global Times | 2020/12/4 13:51:10

Chinese, EU officials make 'constructive' call over bilateral investment deal

Chinese, EU officials make 'constructive' call over bilateral investment deal
Source: Global Times | 2020/12/4 21:09:55

China replaces US to become largest trade partner of EU

China replaces the US to become the largest trade partner of the EU in the third quarter of this year, reflecting the resilience and potential of China-EU economic and trade relationship, Foreign Ministry spokesperson Hua Chunying said at a regular press briefing on Friday.
Source: Global Times | 2020/12/4 17:44:47

BRI projects in Europe, a lively practice rather than myth

With wind turbines spinning, highways stretching forward and seaports operating around the clock, the Belt and Road Initiative (BRI) projects from the Mediterranean to the Baltic have displayed vigor and resilience, bringing tangible benefits to Europe amid the COVID-19 pandemic.
Source: Xinhua | 2020/12/4 11:02:04

US bill may backfire on its capital market

With the US House of Representatives giving the green light to a controversial bill that could block Chinese corporate listings from US stock exchanges, the global clout of the US equity market would be at stake, experts said.
Source: Global Times | 2020/12/3 20:58:40

Expectations for Biden lifting US tariffs dims after clear signal

Market expectations for US President-elect Joe Biden to remove costly tariffs on hundreds of billions of dollars worth of Chinese products, which have been ruled illegal by the WTO and drawn court action by 3,500 US companies, have dimmed after Biden signaled that he might continue the trade war launched by incumbent Donald Trump.
Source: Global Times | 2020/12/3 19:48:40

China-Australia relations head toward abyss

Some Australian politicians' cold war mentality and ideological prejudice are taking China-Australia relations into an abyss, which observers said will have a great impact on the Australian side, dragging down trade with China by at least 1 percent by the end of 2020.
Source: Global Times | 2020/12/3 19:43:40

Honor staff to sign first new contracts after divestment from Huawei

Employees at smartphone maker Honor, the former sub-brand under Huawei, are signing their first new labor contracts after the divestment last month, the company confirmed to the Global Times on Thursday. The new Honor will enter the market as early as January 1 next year.
Source: Global Times | 2020/12/3 19:38:40

China is pushing forward with export control law: MOFCOM

China is actively advancing legislative work relating to enforcement measures of the country's new export control law, China's Ministry of Commerce (MOFCOM) said on Thursday.
Source: Global Times | 2020/12/3 17:03:41

Anti-dumping length for Australian wine may be extended to 9 months: Ministry

The length of China's anti-dumping period for Australian wine may be extended to nine months under special circumstances, China's Ministry of Commerce (MOFCOM) said on Thursday.
Source: Global Times | 2020/12/3 16:44:55

US bill to delist Chinese companies from stock exchanges not a major concern for Chinese tech firms: experts

The US House of Representatives passed a bill Tuesday that could prevent more Chinese companies from listing in US capital markets amid efforts by US regulators to crack down on Chinese firms.
Source: Global Times | 2020/12/3 14:03:40

OECD estimates better global growth on vaccine progress

The Organization for Economic Cooperation and Development (OECD) on Tuesday painted a "brighter" picture for a faster global recovery as progress in anti-coronavirus vaccine and strong recovery of Chinese economy have provided relief.
Source: Xinhua | 2020/12/3 13:03:25

Caixin services PMI in November records the second highest since May 2010

Caixin services PMI stood at 57.8 in November, beating the market expectation of 56.4, up 1 percentage point from October. The latest gauge of China's service sector activity reached its second highest reading since May 2010, reflecting faster recovering of the country's services sector following the impact of COVID-19.
Source: Global Times | 2020/12/3 12:35:14

Pandemic could push 72 mln more children into "learning poverty": World Bank

COVID-19-related school closures risk pushing an additional 72 million primary school aged children into "learning poverty" - meaning that they are unable to read and understand a simple text by age 10, the World Bank said Wednesday.
Source: Xinhua | 2020/12/3 9:50:12

China to accelerate domestic steps for RCEP implementation

China will intensify domestic efforts for the Regional Comprehensive Economic Partnership (RCEP) to take effect and get implemented, so as to uphold free trade and expand win-win cooperation, the State Council executive meeting decided Tuesday.
Source: Xinhua | 2020/12/3 9:38:20

China, Russia to expand economic, energy and agriculture cooperation

China and Russia are moving closer to further coordinate and cooperate in a wide range of areas, from epidemic control and prevention to trade, as both countries face an increasingly uncertain and risky external environment marked by not just the COVID-19 pandemic but also economic bullying led by the US.
Source: Global Times | 2020/12/2 20:53:08