SOURCE >> Economy

RCEP powers up industries

The RCEP forms the world's largest trading bloc. How powerful is the deal in terms of further expanding and deepening regional value chains for business? This edition of Global Times Infographic will guide you through six distinct industries to see how the mega trade pact impacts business for the better.
Source: Global Times | 2020/11/18 20:53:40

RCEP ushers in a key period for global free trade

In stark contrast to the chaotic scenes of countries resorting to self-isolation and finger-pointing at the start of the COVID-19 outbreak earlier this year, major economies in the Asia-Pacific and around the world face a critical window of opportunity to cap this year of profound hardship by reaching much-needed breakthroughs in regional and global cooperation on trade and investment.
Source: Global Times | 2020/11/18 19:55:54

India's reported plan to lift FDI sanctions is cautiously welcomed

Chinese experts and business representatives welcomed the positive signs from the Indian side after some Indian authorities are reportedly considering a plan to lift sanctions on foreign direct investment (FDI) from countries including China against the backdrop of the lowest ebb of bilateral relations in decades. However, given the fact that there are still many uncertain factors, further observation is needed.
Source: Global Times | 2020/11/18 19:11:31

International copper futures to start trading in China

China will expand the opening-up of its commodities markets by allowing overseas investors to trade copper futures on the Shanghai International Energy Exchange of the Shanghai Futures Exchange, starting from Thursday.
Source: Global Times | 2020/11/18 19:00:38

With a stronger currency, Chinese exporters' profits feel pinch

Chinese exporters are starting to feel a pinch on their profitability as the yuan continues to appreciate. The currency's central parity rate soared to a nearly 29-month high on Wednesday against the US dollar.
Source: Global Times | 2020/11/18 18:41:39

China not preventing auditors from cooperating with foreign regulators: FM

China has never prevented accounting firms from providing audit working papers to foreign regulatory bodies, and it has always aimed at creating a favorable environment for orderly and sound operation of the global capital markets, Chinese Foreign Ministry spokesperson Zhao Lijian said at a press conference on Wednesday in Beijing.
Source: Global Times | 2020/11/18 18:33:36

BRI progressing well despite COVID19 headwinds: FM

China's Belt and Road Initiative (BRI) progress has showed strong resilience despite coronavirus-caused headwinds, the Foreign Ministry said on Wednesday, announcing that China has signed 201 BRI cooperation documents with 138 countries and 31 international organizations.
Source: Global Times | 2020/11/18 18:09:10

China has 5 coronavirus vaccines in phase-3 clinical trials: FM

China has five coronavirus vaccine candidates that are currently in phase-3clinical trials in countries including the United Arab Emirates, Brazil, Pakistan and Peru, Foreign Ministry spokesperson Zhao Lijian said on Wednesday.
Source: Global Times | 2020/11/18 18:03:40

2020 Global Cities Report: Beijing replaces Hong Kong among top 5

The 2020 Global Cities Report, released by global strategy and management consulting firm Kearney on Wednesday, presented the Global Cities Index (GCI) and the Global Cities Outlook (GCO), which together provided a comprehensive analysis of cities' positions and future prospects.
Source: Global Times | 2020/11/18 17:22:13

China likely to reduce US debt holdings on default risks and uncertain political outlook: expert

China slashed $6.3 billion worth of US debt in September for the fourth consecutive month in a year, a move that indicates China is systematically reducing its holdings of US bonds as the dollar default risks rise and the outlook of the China-US ties remain uncertain under the incoming Biden administration, experts said.
Source: Global Times | 2020/11/18 16:27:02

Controversial Wuhan semiconductor manufacturer acquired by local state assets

Semiconductor maker Wuhan Hongxin Semiconductor Manufacturing Co (HSMC) has been reportedly fully taken over by the local unit of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in Dongxihu district, Wuhan in Central China's Hubei Province.
Source: Global Times | 2020/11/18 13:48:41

China's economic recovery momentum to sustain -- Bloomberg

Based on China's economic performance in October, analysts said the country's recovery momentum will sustain in the coming months, according to a report released recently by Bloomberg.
Source: Xinhua | 2020/11/18 13:46:28

Chinese yuan climbs to 29-month high against US dollar

The Chinese yuan's recent trend of appreciation shows no signs of slowing down, as the currency's central parity rate soared to nearly 29-month high on Wednesday against the US dollar, following release of upbeat economic data in October by the Chinese statistics authority.
Source: Global Times | 2020/11/18 13:08:40

Hong Kong, mainland Stock Connect posts record trading as it celebrates 6th anniversary

As the HK-mainland stock connect celebrates its 6th anniversary, Hong Kong and international investors' holding of Shanghai and Shenzhen stock exchange A-shares rose to 2.1 trillion yuan ($320 billion), a stark contrast to 86.5 billion yuan at the end of 2014, shortly after the launch of the mechanism.
Source: Global Times | 2020/11/18 10:49:10

India's reported plan to lift FDI sanctions is cautiously welcomed by business representatives and experts

Chinese experts and business representatives welcome the positive signs from the Indian side after some Indian authorities are reportedly considering a plan to lift sanctions on foreign direct investment (FDI) from countries including China against the backdrop of the lowest ebb of bilateral relations in decades. However, given the fact that there are still many uncertain factors, further observation is needed.
Source: Global Times | 2020/11/18 1:56:18

China to open BRICS innovation center

Chinese President Xi Jinping on Tuesday announced that China will set up a new industrial revolution innovation center in Xiamen, East China's Fujian Province, as a concrete step to promote cooperation among the BRICS economies.
Source: Global Times | 2020/11/17 21:43:40

Container-sharing facilitates shipping between China, Europe

Fifty-five containers of lysine, monosodium glutamate, aluminum bars and stones are ready to leave Yinchuan, Northwest China's Ningxia Hui Autonomous Region on Tuesday, via Tianjin port.
Source: Global Times | 2020/11/17 20:18:41

Economists suggest 5% GDP growth for 2021-25

China could set its average annual economic growth target at around 5 percent for the coming 2021-2025 period, a senior economist specializing in China's macro economy and economic policy suggested on Tuesday.
Source: Global Times | 2020/11/17 19:28:41