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Virus will not hit BRI cooperation

The new coronavirus has been spreading across the world, including in countries along the Belt and Road Initiative (BRI). Though the coronavirus is almost under control in China, there are still uncertainties about when the pandemic will end in other countries. The global market has shown concerns. Against this background, China and BRI countries should improve their emergency response mechanism and clear a path for a green channel in trade.
Source: Global Times | 2020/3/12 20:18:40

China likely to cut in RRR likely in March, inject $115b for economic momentum

China is expected to cut commercial banks' reserve requirement ratio (RRR) by 50 basis points to inject 800 billion yuan ($115 billion) to spur the economy, as global economic uncertainty caused by the coronavirus crisis adds pressure to China's rebound.
Source: Global Times | 2020/3/12 19:48:40

China, Russia join hands to minimize coronavirus impact: official

Though the COVID-19 outbreak has hit China-Russia economic and trade cooperation to some extent, the two countries are striving to minimize the impact and ramp up cooperation in sectors like energy, a senior Chinese trade official said on Thursday.
Source: Global Times | 2020/3/12 17:43:40

Coronavirus wipes $250 million from New Zealand's tourism revenue

The coronavirus outbreak has wiped $250 million from New Zealand's tourism revenue as Chinese tourists freeze their globe sightseeing plans.Coronavirus wipes $250 million from New Zealand's tourism revenue
Source: Global Times | 2020/3/12 17:32:37

Italy, locked down by pandemic, will see 3-5% contraction in economy

The coronavirus outbreak is jolting Italy's economy as the country is on lockdown and lacks supply of intermediate goods from China, which will largely affect the country's manufacturing industry, an Italian official and business representative told the Global Times.
Source: Global Times | 2020/3/12 17:28:35

Two-thirds of businesses say revenue will decline in H1: report

Two-thirds of Chinese companies estimate revenues will decline in the first half of the year because of the sudden attack of the coronavirus, with nearly half of the estimates falling by over 20 percent, a re-port co-released by DingDang Medicine Express and Huron said on Thursday.
Source: Global Times | 2020/3/12 14:23:40

China to accelerate blockchain technology in corporate financing

China has ramped up efforts to accelerate blockchain technology application in its financial sector, which analysts say will help small and medium-sized enterprises ease financing difficulties and facilitate business resumption after the coronavirus attack.
Source: Global Times | 2020/3/12 13:53:04

China to announce targeted RRR cut this week at earliest: analysts

China is highly likely to announce a targeted cut to the reserve requirement ratio (RRR) within the next few days to release extra liquidity and help companies get back on their feet after the coronavirus epidemic, several analysts said on Wednesday.
Source: Global Times | 2020/3/12 0:05:23

China-Italy trade will see double-digit decline in first half of 2020

As the Italian government has locked down the whole country to contain the coronavirus, analysts predict bilateral trade between China and Italy will see double-digit decline in the first half of 2020, and bilateral investment could decline by over 30 percent.
Source: Global Times | 2020/3/11 18:07:32

Bank of England cuts main interest rate to 0.25 percent

The Bank of England cut its main interest rate from 0.75 percent to 0.25 percent on Wednesday as part of a package of measures to cushion the impact of COVID-19.
Source: Xinhua | 2020/3/11 17:44:32

China to provide urgent medical supplies to Italy amid fight against COVID-19

China will accelerate and enhance exports of urgent medical supplies and equipment to Italy to help the epidemic-hit country where more than 10,000 people have tested positive for the new coronavirus.
Source: Global Times | 2020/3/11 11:03:41

China denies massive retreat of supply chains: FM

Industrial supply chains haven't massively retreated from China due to the coronavirus outbreak, and it's unrealistic and unwise to purposely cut global supply chains or even advocate diverting supply chains or decoupling, a Chinese foreign ministry spokesperson said on Wednesday.
Source: Global Times | 2020/3/11 17:03:40

Beijing Capital Int'l Airport handles 100 mln passenger trips in 2019

Beijing Capital International Airport remained the top of all Chinese airports in terms of passenger throughput, handling more than 100 million passenger trips in 2019, according to the Civil Aviation Administration of China (CAAC).
Source: Xinhua | 2020/3/11 12:14:17

US faces risk of economic, political crisis

Persistent equity sell-offs in the US triggered by panic over the coronavirus outbreak has laid bare deep-seated problems in the US economy and the extremely polarized, volatile political climate in the country, and brought the world's largest economy to the edge of an economic and political crisis with profound global implications, Chinese analysts said.
Source: Global Times | 2020/3/11 0:48:40

February CPI stays elevated at 5.2%, but declines lie ahead: experts

China's consumer price index (CPI), a main gauge of inflation, jumped 5.2 percent year-on-year in February amid extensive efforts to contain the coronavirus outbreak, but analysts forecast a declining trend along with the easing of the outbreak in the country.
Source: Global Times | 2020/3/10 22:08:40

Hubei rolls out color-coded health ratings, allowing green rating holders to travel freely

Central China's Hubei Province on Tuesday rolled out a color-coded health rating for individuals in the province, encouraging people with low health risks to return to their work posts, as the province sees a considerable ease in virus outbreak.
Source: Global Times | 2020/3/10 13:58:40

Chinese stocks claw their way back from global market selloff

Chinese stocks edged up on Tuesday morning, following a Monday that sent overseas markets into another day of steep selloffs, a hint showing that China might be the only major global stock market to have a bullish year ahead amid a sliding world economy, as the coronavirus epidemic fades gradually and the government rolls out investment plans to bolster the economy, experts said.
Source: Global Times | 2020/3/10 11:56:37

China's CPI up 5.2% year-on-year in February: NBS

China's consumer price index (CPI), a main gauge of inflation, soared by 5.2 percent year-on-year in February, down 0.2 percentage points from January, the National Bureau of Statistics (NBS) said on Tuesday.
Source: Global Times | 2020/3/10 10:18:41