SOURCE >> Economy

Possible delay seen in phase one trade deal as US battles virus

The implementation of the China-US phase one trade deal may be put off this year as the US battles the spreading coronavirus and the country's agriculture sector may face a delivery problem, experts said.
Source: Global Times | 2020/3/28 16:14:51

Chinese cities dole out vouchers to stimulate consumption: expert

Chinese local governments are doling out billions of yuan to citizens through digital vouchers and coupons to boost domestic consumption, as the country saw a 20.5 percent decline in retail sales in the first two months amid the coronavirus outbreak.
Source: Global Times | 2020/3/28 15:10:42

Goldman, Morgan Stanley raise stakes in China joint ventures

US investment banks Goldman Sachs and Morgan Stanly have received an approval from China's securities regulator to raise their stakes and take majority holdings in their China securities joint ventures on Friday, a sign that China's efforts of further opening up have not been hindered by the COVID-19 situation.
Source: Global Times | 2020/3/27 22:28:40

China to release more stimulus

China is set to roll out more stimulus to drive a slowing world economy after the G20 conference, where all countries vowed to coordinate in the face of the economic fallout from the COVID-19 pandemic, Chinese economists said.
Source: Global Times | 2020/3/27 21:23:41

Shanghai outranks Singapore to become No.4 global financial center

Chinese financial centers have shown growing competitiveness globally as five cities rank among the top 20 global financial centers.
Source: Global Times | 2020/3/27 17:53:32

China's industrial profits see record y-o-y plummet of 38.3% from Jan to Feb

Profits at major Chinese industrial firms above a designated scale plunged a record 38.3 percent year-on-year to 410.7 billion yuan ($58.08 billion) from January to February amid the coronavirus epidemic, according to the National Bureau of Statistics (NBS) on Friday.
Source: Global Times | 2020/3/27 12:12:15

Coronavirus shows BRI extends beyond economic partnerships

As coronavirus outbreaks escalate in the US and Europe, Africa, which is relatively vulnerable to the pandemic, is facing larger potential economic and social impacts.
Source: Global Times | 2020/3/26 23:01:58

China, Spain to fight COVID-19 together

Since March, the global fight against the COVID-19 pandemic has been in constant flux, while the situation in China continues to improve with the production resuming and people's lives returning to normal. Europe has become the new virus epicenter.
Source: Global Times | 2020/3/26 22:58:40

Next US bear market will be worst of my life: Jim Rogers

During the outbreak of the global pandemic that has rattled global investors, China's stock market has “done less badly” than other markets, including the US one, as Beijing has “done a better job” of stabilizing the capital market and not printing a “staggering amount of money” like Washington, which could only make things worse, Jim Rogers, renowned investor and chairman of Rogers Holdings, told the Global Times.
Source: Global Times | 2020/3/26 22:38:35

China must prepare for shocks as massive US rescue package adds urgency

An unprecedented $2.2 trillion rescue package envisioned to save the US economy from a free fall highlights a massive downward pressure on US economy hit hard by the spreading coronavirus, market observers said.
Source: Global Times | 2020/3/26 21:03:40

China keeps global supply chain running

In the manufacturing and export hub of Yiwu, in East China's Zhejiang Province, a small factory has resumed full production so that children in Africa will have notebooks when they start school in fall; machines at the Yiwu Railway Port are running almost non-stop to load containers onto trains bound for Europe so that people there will have desperately needed essential supplies in time. Last week, China sent a charter cargo jet to bring materials to Myanmar so that local garment factories can return to normal operation and hire workers. Planes carrying Chinese made medical supplies have been landing in countries around the world and even personally welcomed by presidents and prime ministers.
Source: Global Times | 2020/3/26 20:58:41

Food supply sufficient despite some import disruptions: experts

China's overall food supply is sufficient despite the COVID-19 pandemic and natural disasters that have caused some countries to suspend or reduce food exports out of concerns over domestic shortages, experts said.
Source: Global Times | 2020/3/26 18:53:40

Dongguan factories reel from cancellations amid coronavirus

Thousands of factories in Dongguan, South China's Guangdong Province that make products for big-name brands including Burberry, Prada, Fossil, Disney, and Hasbro are seeing overseas orders in freefall amid the global pandemic, forcing some to reduce capacity, lay off workers or even go under.
Source: Global Times | 2020/3/26 18:33:40

US' Huawei indecision shows company's technology strength: analysts

The US decided to prolong the public comment period on Huawei's proposed license extension, displaying the importance of the Chinese tech giant to US businesses amid the COVID-19 outbreak in the US, industry analysts said.
Source: Global Times | 2020/3/26 15:48:40

US Senate passes 2 tln USD stimulus package to blunt COVID-19 fallout

The US Senate on Wednesday night passed a 2-trillion-dollar stimulus package to blunt the economic fallout of COVID-19, after rounds of negotiations between Democrats and Republicans.
Source: Xinhua | 2020/3/26 11:51:00

China likely weighing response to mixed signals from US over tariffs: expert

Chinese officials are likely weighing up potential responses to a series of mixed signals from the US, where officials have been touting progress in the phase one trade agreement, while at the same time reinstating tariffs on Chinese products, risking a hard-fought easing in bilateral trade tensions, a Chinese trade expert who advises the government told the Global Times on Wednesday.
Source: Globaltimes.cn | 2020/3/26 1:05:34

Now is not the time for unrestrained optimism

The unrelenting swings over the past few days across almost all types of assets seems a surreal experience for investors across the globe betting on risky assets. In a sign of self-mockery among Chinese investors that have lately taken a scary roller-coaster ride, full of thrills and agonies that reflect the real world they are living in.
Source: Global Times | 2020/3/25 22:49:03

As virus spreads worldwide, China's economic growth outlook dims

The Chinese economy remains under immense pressure from the fallout of the COVID-19 pandemic, although effective virus containment by the government lays the basis for revival hopes, Chinese analysts say.
Source: Global Times | 2020/3/25 20:43:41