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Vaccine for African swine fever is developed, to undergo trials

Positive progress has been made on the development of a vaccine for African swine fever, and some applications for clinical trials have been filed and are currently under review, the Ministry of Agriculture and Rural Affairs said on Thursday.
Source: Global Times | 2020/3/19 18:07:31

China's yuan falls versus US dollar, to remain relatively stable: experts

The Chinese yuan fell to 7.10 against the US dollar, hitting a new low since October 31, 2019, data from the China Foreign Exchange Trading System (CFETS) showed.
Source: Global Times | 2020/3/19 16:18:25

China steps up efforts to solve understaffing, cut operation costs

Chinese authorities have intensified efforts to solve understaffing problems and cut operation costs for companies to revive the world's second largest economy that has been hammered by the novel coronavirus disease (COVID-19), a senior official said Thursday.
Source: Xinhua | 2020/3/19 14:24:27

ECB announces 750-bln-euro emergency purchase program

The European Central Bank (ECB) on Wednesday announced a new temporary asset purchase program covering private and public sector securities that has an overall envelope of 750 billion euros (819 billion US dollars) to counter the novel coronavirus risks.
Source: Xinhua | 2020/3/19 9:58:24

Five reasons why China's global stature will rise after pandemic

As many countries around the world fail to contain the novel coronavirus and a profound global crisis that could upend the global political and economic order looms, questions have been raised about China's capability to withstand a new wave of public health and economic risks and maintain its standing in an increasingly hostile and polarized world, despite its effective measures so far to stem the deadly virus domestically and jumpstart the economy.
Source: Global Times | 2020/3/18 5:30:09

China market wrap-up

A well-formed rebound in Chinese mainland stocks in the morning session on Wednesday in the wake of a strong rebound in US stocks reversed into widespread losses in the afternoon session, as early optimism was overshadowed by pessimism about the evolution of the coronavirus pandemic.
Source: Global Times | 2020/3/18 23:28:40

Yiwu strives to bring international customers back, facing pressure of escalating pandemic overseas

Yiwu, the world's largest small commodity wholesale market in East China's Zhejiang Province, is facing mounting pressure as inbound travelers need to be quarantined for 14 days and the pandemic is escalating overseas, though the facility has been striving to resume customer traffic through various approaches.
Source: Global Times | 2020/3/18 22:43:40

US cash plan offers relief while Chinese vouchers boost consumption

As the Trump administration may soon send cash to American workers following its drastic measures to calm domestic markets, Chinese experts doubted the policy's effects, as the stimulus package offers relief while voucher programs in China would be effective in bringing about a consumption revival, if rolled out properly.
Source: Global Times | 2020/3/18 22:18:40

India a quagmire for Chinese companies amid COVID-19, causing $50m loss so far

India is becoming a quagmire for hundreds of Chinese companies investing or operating there, with severe supply chain and cash flow woes and tens of millions of dollars at stake.
Source: Global Times | 2020/3/18 21:53:40

US stocks open sharply lower on economic worries, Dow -6.4%

US stocks open sharply lower on economic worries, Dow -6.4%
Source: AFP | 2020/3/18 21:38:50

China safe haven for overseas firms as country spearheads global virus recovery

China is turning into a new safe haven for foreign companies as their overseas business is disrupted by the spread of the coronavirus across the world while China, after weeks of combat against the virus, has recovered from the epidemic and the ensuing economic stagnation.
Source: Global Times | 2020/3/18 21:38:40

Hospital bed shortage poses great challenge for US medical system amid COVID-19 outbreak

Available data on hospital capacity shows that countries seeing increasing confirmed COVID-19 cases like the US and Italy face greater risks treating patients as a result of hospital bed shortages.
Source: Global Times | 2020/3/18 18:19:43

Coronavirus-driven contraction to hit Chinese economy in Q1: foreign investment banks

Some foreign investment banking heavyweights have predicted that a coronavirus-driven contraction will hit the Chinese economy in the first quarter. They have also ratcheted down estimates for the economy's full-year expansion over sagging global growth.
Source: Global Times | 2020/3/18 18:18:40

China remains global 5G leader despite COVID-19: report

China has cemented its position as a global 5G leader thanks to significant operator investment and growing enthusiasm among consumers and enterprises, said GSMA, an international association of mobile operators in a report released Tuesday.
Source: Xinhua | 2020/3/18 13:07:45

US moving medical supply chain out of China won't solve real problems: foreign ministry

The Trump administration's attempt to encourage local pharmaceutical manufacturing and move the supply chain out of China is the "wrong medicine"for the current coronavirus crisis, according to a spokesperson of China's Ministry of Foreign Affairs.
Source: Global Times | 2020/3/18 12:23:40

Pakistani president visits China amid pandemic in show of solidarity

As the world is facing challenges brought about by COVID-19, Pakistani President Arif Alvi chose this special time to visit China to show solidarity between the two “iron brothers.” On the occasion, Global Times reporter Wang Bozun (GT) sat down with Pakistani Foreign Minister Shah Mahmood Qureshi (Qureshi), and spoke about the pandemic situation and the cooperation between the two all-weather strategic partners in dealing with the challenges caused by the virus.
Source: Global Times | 2020/3/17 23:43:40

Multinationals delay, cut spring hiring in mainland amid pandemic

Many multinational corporations in the Chinese mainland are delaying recruitment schedules and cutting recruitment numbers this year due to the impact of the coronavirus, with some cancelling their spring recruiting entirely. Fresh graduates said that they face the worst-ever job-hunting season.
Source: Global Times | 2020/3/17 23:03:40

Keeping tariffs will seriously hurt US enterprises

Removing tariffs on Chinese products, which could save billions of dollars for US companies and households, could be a fast and efficient help to US industries and the economy amid rising COVID-19 cases in the country, analysts said, adding the US should adopt the measure as soon as possible - instead of playing the China card to divert Americans' attention from its inability to contain the virus.
Source: Global Times | 2020/3/17 22:58:41