SOURCE >> Economy

Event a great opportunity for US companies to find products, agents

The 127th China Import and Export Fair, known as the Canton Fair, went online for the first time due to the pandemic. Officially kicking off on Monday, the fair has seen foreign businesses participating fully, including US companies that have faced mounting pressure among the intensifying China-US conflict.
Source: Global Times | 2020/6/16 21:48:40

Ex-insurance regulatory commission head sentenced to 11 years for taking bribes

Xiang Junbo, the former chairman of the China Insurance Regulatory Commission (CIRC), was sentenced to 11 years in prison and fined 1.5 million yuan ($212,880) on bribery charges on Tuesday, according to a court ruling.
Source: Global Times | 2020/6/16 20:58:40

Foreign firms in Beijing see little impact from latest coronavirus outbreak

Foreign companies in Beijing have seen little impact of the latest COVID-19 outbreak on their business, but they're actively adjusting their daily operations, after four districts in Beijing entered “wartime mode”.
Source: Global Times | 2020/6/16 19:53:40

Israeli businesses remain eager for Chinese market despite mounting pressure from US

Bilateral business activities between China and Israel have been making progress despite the COVID-19 pandemic disrupting normal communications, and the two sides are looking forward to strengthening cooperation and business expansion in the post COVID-19 period.
Source: Global Times | 2020/6/16 16:38:40

Italy launches first digital platform for business exchanges, betting on Chinese market

Italy, one of the European countries worst hit by the coronavirus, has gradually emerged from its national lockdown and is now shifting its attention toward resuming its export-oriented economy ravaged during the pandemic.
Source: Global Times | 2020/6/16 18:43:40

UK's decision to include Huawei in its 5G construction will stand: CBBC

The China-Britain Business Council (CBBC) trusts the UK government's decision to allow Huawei to participate in building the non-core elements of UK's 5G network will stand, said CBBC.
Source: Global Times | 2020/6/16 17:45:02

China finds pests in imported Canadian logs: FM

The Ministry of Foreign Affairs confirmed on Tuesday that Chinese customs has since January detected many cases of live pests in logs imported from Canada, and China has informed Canada of the pests and required improvement by the Canadian side.
Source: Global Times | 2020/6/16 17:38:40

China's coronavirus-triggered salmon boycott could lead to industrial losses of $100 million: Norwegian salmon trader

Salmon-related industries in China, from manufacturers and dealers to Japanese restaurants, are facing an unprecedented challenge after the discovery of COVID-19 on an imported salmon seller's chopping board at a Beijing wholesale market, industrial insiders said. They estimate the total industrial loss is likely to surpass $100 million.
Source: Global Times | 2020/6/16 15:13:40

UPDATE - China offers 170b yuan in anti-COVID-19 bonds

China's Ministry of Finance on Tuesday announced the issuance of 170 billion yuan ($24.02 billion) in special bonds intended to fund anti-virus efforts, fueling speculation over monetary easing in the near term.
Source: Global Times | 2020/6/16 13:43:40

BYD to use Huawei chipsets amid increasing US crackdown: report

Huawei has secured cooperation with Chinese automobile company BYD to explore the application of its chipsets in smart cars, according to media reports. Experts noted the move will give Huawei an extra edge in expanding its chipset market under the US crackdown.
Source: Global Times | 2020/6/16 10:51:24

Tensions with Canberra offer openings for other farm suppliers

Escalating tensions between China and Australia, which have caused declines of Australian agricultural exports to China in recent months, could offer opportunities for other producers to participate in the Chinese market.
Source: Global Times | 2020/6/15 20:50:14

China-Myanmar 'fast track' to help revive bilateral economic growth

China and Myanmar have set up a "fast track" procedure to resume business links while maintaining a two-way, zero-infection commute amid the COVID-19 pandemic, China's Foreign Ministry said on Monday.
Source: Global Times | 2020/6/15 19:53:40

Britain can't afford a complete Huawei cutoff: experts

The UK can't afford to reverse course on Huawei's involvement in its 5G network rollout, Chinese experts said on Monday, urging London not to hit the self-destruct button in terms of its economic ties with Beijing.
Source: Global Times | 2020/6/15 19:52:01

Hong Kong is the bridge between the world, Chinese mainland: HKEX chief

The Hong Kong Special Administrative Region (HKSAR), one of the world's most important financial hubs, will continue to play its role as a bridge between the Chinese mainland and the world, Hong Kong Exchanges & Clearing (HKEX) Chief Executive Charles Li Xiaojia said on Monday.
Source: Global Times | 2020/6/15 19:37:03

China's economy is recovering in May, but statistics underline growth difficulty

China's industrial output, fixed-asset investment and retail sales continued to rebound in May, the second full month after the world's second-largest economy reopened after it largely contained the COVID-19 outbreak.
Source: Global Times | 2020/6/15 19:28:40

Ensuring agricultural imports from BRI countries necessary despite virus fears

After months with almost no new COVID-19 infections in Beijing, there are renewed concerns of a resurgence of domestic transmissions. Dozens of new cases have been reported in recent days. According to local health officials, all cases can be traced back to the Xinfadi market, Beijing's largest wholesale food market, where a chopping board used to cut imported salmon tested positive for coronavirus.
Source: Global Times | 2020/6/15 18:53:40

Demand for COVID-19 tests is surging, following latest Beijing outbreak

Demand for nucleic acid tests is surging in Beijing, with local service providers receiving increased orders after the latest COVID-19 outbreak relating to the Xinfadi Wholesale Market in its southwestern Fengtai district.
Source: Global Times | 2020/6/15 17:03:40

Grocery prices jump in Beijing as new outbreak shuts wholesale markets

Groceries in Beijing see sharp price rises following the shutdown of six major wholesale markets in the Chinese capital city of more than 20 million.
Source: Global Times | 2020/6/15 17:02:53