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More Canadian politicians join campaign to free Huawei's Meng Wanzhou, piling pressure on Trudeau

An increasing number of Canadian politicians are joining a campaign to release Huawei CFO Meng Wanzhou, which cites “deteriorating relations with China, and the rise of Sinophobia in Canada,” adding pressure on Prime Minister Justin Trudeau to rethink his hardline stance against China.
Source: Global Times | 2020/11/24 12:09:31

Chinese yuan weakens to 6.5809 against USD Tuesday

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 90 pips to 6.5809 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System.
Source: Xinhua | 2020/11/24 10:36:14

Digital prowess the only silver lining in COVID-19 recession

Amid intermittent drizzles that add to the beauty of the water town of Wuzhen in East China's Zhejiang Province, where the annual World Internet Conference (WIC) is being held, voices are growing louder that China's digital prowess renders the global economy the only silver lining in a COVID-19 recession.
Source: Global Times | 2020/11/23 22:59:21

China's digital economy

China's digital economy Infographic: GT
Source: Global Times | 2020/11/23 23:38:43

China has potential to join CPTPP: experts

From the services trade sector including financial services to Beijing's efforts to narrow the scope of the nation's negative list, China has met some criteria to join the Comprehensive Progressive Trans-Pacific Partnership (CPTPP), although it has higher standards in some aspects, Chinese experts said.
Source: Global Times | 2020/11/23 21:33:11

BIT deal could be win-win outcome for China, EU and the world

The European Union (EU) needs to seize the window of opportunity and push for signing the China-EU bilateral investment treaty (BIT) by the end of the year, to achieve a win-win pact for businesses on both sides against the backdrop of the pandemic and unilateralism, experts said.
Source: Global Times | 2020/11/23 21:08:40

Rising debt defaults put financial stability at risk: analysts

From halting Ant Group's IPO to announcing penalties for deliberate debt defaults by some companies, China has taken a firm attitude in preventing financial risks after irregularities emerged amid the country's recovery from the COVID-19 pandemic.
Source: Global Times | 2020/11/23 21:03:40

China proposes to lift world by taking responsibility in virus control, green growth

Chinese President Xi Jinping has attended a series of multilateral events in the last days, and put forward China's comprehensive solutions to global challenges, including approaches to fight COVID-19 pandemic, ways to facilitate global economic recovery, and methods to cap carbon emissions to protect the planet's environment.
Source: Global Times | 2020/11/23 20:53:40

US' crackdown on Chinese transshipment via Vietnam has no practical significance: analyst

Moves by the US to increase pressure on Vietnam, an emerging Southeast Asian manufacturing hub, over its transshipment role for Chinese-made goods, have no practical significance, and if this practice is halted, all parties will lose, analysts told the Global Times.
Source: Global Times | 2020/11/23 20:13:40

G20: post-COVID-19 recovery

The G20 has taken swift action in the wake of COVID-19, as humanity experiences the most serious global pandemic in a century. Countries have agreed to step up cooperation to fight the pandemic, including advanced R&D of medicines and vaccines, and maintaining economic and financial stability.
Source: Global Times | 2020/11/23 19:58:40

Singapore offers banks 25 billion yuan liquidity to support rising market demand

The Monetary Authority of Singapore (MAS) announced on Monday it will provide up to RMB 25 billion ($3.81 billion) of funding to banks in Singapore, in a bid to deepen RMB (or yuan) liquidity and strengthen the banks' ability to meet the growing RMB business needs of customers in Singapore and the region, according to a news release by the MAS.
Source: Global Times | 2020/11/23 14:33:40

Update: China backs developing-world debt relief

The G20 is expected to endorse a plan to extend a debt-servicing moratorium for poor and highly indebted economies in the developing world by six months to mid-2021, said a draft G20 communique, as the coronavirus pandemic has hit the most vulnerable nations in the world hardest.
Source: Global Times | 2020/11/22 21:23:33

China showcases digital know-how at World Internet Conference

China showcased cutting-edge technologies ranging from artificial intelligence (AI) and cloud computing to big data and blockchain at an expo on Sunday in Wuzhen, a town in East China's Zhejiang Province, a day before the opening of the 2020 World Internet Conference.
Source: Global Times | 2020/11/22 19:43:40

China's economic rebound 'vital to countries along BRI'

China's rapid economic rebounding from the pandemic is beneficial to the economic recovery of countries and regions along the Belt and Road Initiative (BRI), and in the post-pandemic period, building green BRI will be vital to address global warming.
Source: Global Times | 2020/11/22 19:23:40

China to heighten scrutiny of bond markets as violations grow

China held an important meeting over the weekend to study safeguarding the stability of the country's bond market, saying it has “zero tolerance” for illegal acts, after the media has exposed recently growing cases of violations in bond trading.
Source: Global Times | 2020/11/22 19:08:21

Hong Kong eyes for an early RCEP membership to boost its economy

The Financial Secretary of Hong Kong Special Administrative Region, Chan Mo Po, penned an article posted on the official website of Hong Kong Financial Secretary that Hong Kong will strive to join the first batch economies after the RECP agreements take effect.
Source: Global Times | 2020/11/22 16:28:12

Southern Guangzhou city to establish new futures exchange

A futures exchange is to be set up in Guangzhou, South China's Guangdong Province, a move to improve the comprehensiveness of China's financial system and enhance the role of finance in serving real economy in Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area), Chinese experts said.
Source: Global Times | 2020/11/22 16:00:06

Nigeria's economy slips into recession: statistics office

Nigeria's economy has slipped into recession for the second time in four years as oil prices plunged amid the COVID-19 pandemic, official data released on Saturday shows.
Source: Xinhua | 2020/11/22 9:33:47