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New AI export policy could help TikTok protect core technology

China's new regulations that ban or restrict the export of certain advanced technologies, specifically those involving artificial intelligence (AI), could help Chinese internet company ByteDance prevent its core algorithms used in video-sharing app TikTok from falling into US companies' hands, Chinese experts said on Sunday.
Source: Global Times | 2020/8/30 19:33:40

Economic decoupling of US, China "long way away": former IMF economist

China and the United States are closely connected economically, and an economic decoupling is "a long way away," said Eswar Prasad, former head of the International Monetary Fund's China division, earlier this week.
Source: Xinhua | 2020/8/29 21:13:55

Chinese customers queueing up for luxury brands over imminent price hikes

Customers in several first-tier cities in China are queueing up in front of luxury brands stores over the weekend, over concerns over imminent price hikes and prolonged international travel restrictions that hold tourists back from their usual oversea shopping.
Source: Global Times | 2020/8/29 19:32:44

Maintaining stable China ties key to Japan's economy

The sudden announcement of Japanese Prime Minister Shinzo Abe's resignation has sent ripples to the markets, and Chinese analysts said maintaining stable China-Japan relations will be a key job of his successor, as such a relationship will be vital to the Japanese economy, which is severely affected by the pandemic.
Source: Global Times | 2020/8/28 21:58:40

French companies value China's key standing in global supply chain

Despite the US' rising anti-globalization and protectionist tendencies, China and France continue to move forward and deepen bilateral economic and trade cooperation. French companies have already found great development opportunities in China; in fact, in the post-pandemic era, their confidence in the Chinese market will only further increase, betting on China's large role in the global economy and supply chain.
Source: Global Times | 2020/8/28 17:17:02

India decouples with China in oil trade

India's reported actions to decouple China in crude oil trade, which is another economic and trade conflict introduced by the South Asian country to occupy more mind space from China, and will have little effect due to the tiny size of trade, Chinese energy experts said on Friday.
Source: Global Times | 2020/8/28 17:08:40

Spotlight: US Fed announces new policy strategy on inflation, likely to keep rates low for years

US Federal Reserve Chairman Jerome Powell announced on Thursday that the central bank will seek to achieve inflation that averages 2 percent over time, a new policy strategy that will likely keep short-term interest rates near zero for years.
Source: Xinhua | 2020/8/28 8:59:56

China, ASEAN ministers applaud robust bilateral trade, investment growth despite COVID-19

Economic ministers from China and the Association of Southeast Asian Nations (ASEAN) members on Thursday welcomed the robust growth of their bilateral trade and investment despite impacts of the COVID-19 pandemic.
Source: Xinhua | 2020/8/28 8:41:27

Shenzhen other SEZs play 'leading role' in China's development

Shenzhen in South China's Guangdong Province, China's first special economic zone (SEZ) established in August 1980, has been playing a leading role in China's reform and opening up for 40 years, Qu Jian, vice president of the Shenzhen-based think tank China Development Institute, told the Global Times Thursday.
Source: Global Times | 2020/8/28 0:28:40

Canberra's move to veto BRI deal weighs on its recovery amid virus

A move by Australia's federal government to seek new legislation for its “national interests,” which will give Canberra the power to veto the Belt and Road Initiative (BRI) deal reached between the state of Victoria and China, could worsen souring bilateral ties, Chinese experts said Thursday.
Source: Global Times | 2020/8/27 21:38:40

Vast scope for growth seen in China-Norway ties

China and Norway have vast scope for economic cooperation from trade to marine industry development, which experts said will likely speed up closer diplomatic interactions.
Source: Global Times | 2020/8/27 21:28:40

China-EU partnership crucial from economies to walk out of pandemic

Cooperation between China and major European economies has become increasingly important than ever, not only for the two sides but also the global economy, as highlighted by a record fall in GDP in the Organization for Economic Co-operation and Development (OECD) area, Chinese analysts said.
Source: Global Times | 2020/8/27 21:23:40

Chinese industrial profits grow 19.6% year-on-year in July

Profits of China's major industrial firms saw a year-on-year increase of 19.6 percent, a strong rebound for the third month in a row, suggesting that recovery of the world's second-largest economy is gaining momentum and at a better-than-expected speed, analysts said.
Source: Global Times | 2020/8/27 20:18:40

Shenzhen becomes a tech powerhouse

It's lunchtime on Yue Hai Street in Shenzhen's Nanshan district, home to a number of big-name Chinese tech giants including Tencent, ZTE, DJI and Skyworth Group, as restaurants and coffee shops on Thursday were crowded and buzzing with tech employees, who sit around in groups, still debating the latest ideas and digital gadgets as they enjoyed their food.
Source: Global Times | 2020/8/27 18:59:00

China, Europe can work together against decoupling initiated by the US: Roland Berger Global Managing Director

Denis Depoux, global managing director and head of Asia of Roland Berger, said that Europe and China can work together and there is a window of opportunity to achieve something that is mutually beneficial both to Europe and to China, in the context of the COVID-19 crisis and the aggressive American policy toward China.
Source: Global Times | 2020/8/27 17:49:57

Thwarting cross-Straits exchanges hurts Taiwan's development: MOFCOM

Democratic Progressive Party (DPP) authorities in the island of Taiwan have been trying to thwart exchanges and cross-Straits cooperation for some time, and that will only curb the growth of Taiwan's economy, the Ministry of Commerce (MOFCOM) spokesperson Gao Feng told reporters on Thursday, responding to whether the cross-Straits Economic Cooperation Framework Agreement (ECFA) will continue.
Source: Global Times | 2020/8/27 17:38:40

Asia shares pause for breath, lot riding on Fed

Asian shares touched two-year peaks on Thursday in the wake of Wall Street's record run as cheap cash drove up big-cap tech darlings, although Sino-U.S. tensions caused caution to creep in as the session progressed.
Source: Reuters | 2020/8/27 14:23:40

Canada urged to correct mistakes immediately

China on Wednesday reiterated its stance over relations with Canada amid deteriorating bilateral ties and a new court ruling that was unfavorable to Huawei's Meng Wanzhou, urging the Canadian side to make the correct choice and create conditions to bring the relationship back to normal.
Source: Global Times | 2020/8/26 23:28:40