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China's Jan-Feb retail, industry, investment post double-digit decline

China's Jan-Feb retail, industry, investment post double-digit decline
Source: Global Times | 2020/3/16 10:13:34

Tourism recovering on China's tourist island

After scanning the health QR codes, Wang Tao and his wife had their body temperature checked and their hands sanitized before entering Tianyahaijiao scenic spot in Sanya, a resort city of south China's island province of Hainan.
Source: Xinhua | 2020/3/16 8:40:21

US Fed cuts rates to near zero amid coronavirus fears

The US Federal Reserve on Sunday cut its benchmark interest rate by a full percentage point to near zero and will increase its bond holdings by at least $700 billion amid mounting fears over the coronavirus outbreak.
Source: Xinhua | 2020/3/16 5:31:35

China's trade yet to recover as COVID-19 situation worsens in EU, US

China's foreign trade is recovering as the COVID-19 outbreak shows signs of abating amid the country's all-out efforts to contain it in the past few weeks. But the recovery pace is slower than expected due to challenges from worsened situations in Europe and the US.
Source: Global Times | 2020/3/15 21:06:48

China can achieve growth goal as retail sales, industrial output likely to rebound after weak Jan-Feb

Growth figures for China's retail sales, industrial output and fixed-asset investment for January and February are expected to slow to an unprecedented low of only 3 percent, as measures to contain the new virus outbreak unavoidably battered the economy.
Source: Global Times | 2020/3/15 20:53:40

Logistics blocks, customs delays may hamper Chinese protective gear exports

Chinese protective gear producers, ramping up capacity to meet domestic demand amid the COVID-19 outbreak, plan to tap overseas markets as the pandemic is spreading around the globe, but some list factors like logistics disruptions, slow customs clearance and longer standard certification time may curtail exports.
Source: Global Times | 2020/3/15 20:33:40

US should seek closer trade ties with China as it battles virus

The US, which initiated a trade war with China, ought to take the initiative to forge closer ties with China on the trade front as the world's largest economy is facing rising pressure to grapple with the coronavirus pandemic, experts close to the China-US trade talks say.
Source: Global Times | 2020/3/15 18:58:40

Construction of Jakarta-Bandung high-speed railway goes smoothly

The high-speed railway project linking Indonesia's Jakarta and Bandung, undertaken by China Railway Group Limited (CREC) has made another breakthrough despite the spread of the coronavirus, as the No 5 tunnel was completed on Thursday.
Source: Global Times | 2020/3/15 17:36:37

Italy needs to race with time to blunt coronavirus spread: paper

Italy faces a severe outbreak of the novel coronavirus in the coming days, as confirmed cases are predicted to reach 110,000 by March 31 – on a par with China's Hubei Province, results from a preprint article on medRxiv showed.
Source: Global Times | 2020/3/15 13:33:40

US House passes coronavirus rescue package to shore up economy

The US House of Representatives early Saturday morning passed a coronavirus rescue package in response to the virus that has the nation in a panic. The bill includes 1 billion US dollars in food aid, increases free testing and provides benefits to Americans who are out sick from work.
Source: Xinhua | 2020/3/15 8:02:52

China, US to prioritize fighting coronavirus over phase two talks: experts

Combating the wildly spreading coronavirus over the world shall top the agenda for both the Chinese and the US government, even as US President Donald Trump indicated the two countries to launch phase two trade negotiations on Friday, a Chinese observer said on Saturday.
Source: Global Times | 2020/3/14 22:04:17

PBC likely to cut LPR rates next week following targeted RRR cut

The People's Bank of China (PBC), the country's central bank, is likely to further lower the loan prime rate (LPR), the market-oriented benchmark lending rate, next week to ease financial strain for businesses in the aftermath of a relentless coronavirus assault, market experts said.
Source: Global Times | 2020/3/14 14:59:19

Chinese cities launch 420 million yuan vouchers to stimulate consumption

Chinese cities are rolling out voucher programs in an attempt to boost domestic consumption battered by a sudden outbreak of COVID19 in January. The plans have been warmly welcomed by Chinese citizens, and Chinese experts are eyeing a targeted national stimulus of 100 billion yuan ($14.3 billion).
Source: Global Times | 2020/3/14 12:49:34

Challenges and opportunities both remain for exported SMEs as pandemic spreads

As the pandemic spreads at a fast speed in western countries, Chinese exported small and medium-sized enterprises (SMEs) see growing challenges due to slow production resumption and hindered international personnel exchange, which resulted in declining exports. As a consequence, some face difficulties to sustain business with lack of cash flow and staff, while others saw opportunities by diverting business to save themselves.
Source: Global Times | 2020/3/13 20:43:41

Car industry among China's 'farsighted' consumption stimulus

More than 20 Chinese departments on Friday jointly launched measures to stimulate consumption in sectors ranging from cars and retail to tourism, all hit badly in the coronavirus outbreak, at a time when related companies are still wrestling with the lingering effects of the epidemic despite their efforts to get back on track.
Source: Global Times | 2020/3/13 19:38:40

China injects nearly $79b liquidity to help businesses hit by virus

China's central bank announced Friday to implement targeted cuts of 0.5-1 percentage points to RRR for certain banks on March 16, releasing 550 billion yuan ($78.67 billion) in liquidity to help businesses amid #COVID19.
Source: Global Times | 2020/3/13 17:42:05

Oil crash hits green energy shift

The collapse in global oil prices may end up being bad news in the short term for the transition to green energy, as cheaper crude could see more use of cars and aircraft.
Source: Reuters | 2020/3/12 20:58:43

China-Ghana partnership to march forward despite COVID-19

As we entered the year 2020, I was full of vigor and optimism. My optimism was hinged on the achievements my colleagues and I at the Ghana Embassy had chalked up in the previous years. In my mind, this year was not going to be any different but if anything, much better. Unbeknownst to me, a virus, now called COVID-19 but generally known as coronavirus, was to become a major disruptor.
Source: Global Times | 2020/3/12 20:28:41