Mining mutual aid

A three-hour's drive from Myanmar's second largest city Mandalay sits the Letpadaung Copper Mine, spanning about 40,000 hectares in Monywa.

Banks lobby Aramco for incentive

Global banks that worked on Saudi Aramco's record IPO are pushing for an additional “incentive fee”, three sources familiar with the matter said, as they try to boost relatively low earnings from the deal.
Source: Reuters-Global Times | 2020/1/16 21:03:40

Figuratively Speaking

Shipments of Huawei's smartphones in 2019, with surges of more than 50 percent year-on-year for its Mate and P series, said Huawei's Weibo account.
Source: Global Times | 2020/1/16 20:43:40

China market news wrap-up

Chinese mainland stocks continued to come under modest pressure on Thursday, with the key Shanghai Composite Index shedding 0.52 percent, or 15.96 points, to close at 3,074.08 points. The Shenzhen Component Index finished slightly down, while the tech-heavy ChiNext index continued to outperform the market at large, ending in positive territory.
Source: Global Times | 2020/1/16 20:08:41

US, China must assume reciprocal obligations in financial services opening

The financial services part of the phase one trade deal, featuring obligations from both sides that are basically reciprocal, has once again testified to China's efforts to liberalize its financial sector, the People's Bank of China (PBC), the country's central bank, said on Thursday.
Source: Global Times | 2020/1/16 20:08:40

High-speed railway's IPO marks deepening of industry reform: expert

Beijing-Shanghai High-Speed Railway Co (BSHSR) made its debut on Thursday on the Shanghai Stock Exchange, where it closed after surging nearly 40 percent, marking a bullish start to the company's listing.
Source: Global Times | 2020/1/16 20:03:40

Around the world

Chinese bio-technology company WuXi Biologics announced an acquisition agreement on Thursday to take over the operations of one of global healthcare giant Bayer's final drug product manufacturing plants in Leverkusen, Germany, said WuXi Biologics in a statement.
Source: Global Times | 2020/1/16 19:53:40

Technology gets scant mention in trade deal, but slight easing seen

Technological cooperation is merely a tiny portion of the phase one trade deal between the world's top two economies, according to the agreement text. While clues remain elusive about whether the deal would ease concerns over a “decoupling” in the technology world, the Chinese technology community is looking forward to a more cooperative relationship.
Source: Global Times | 2020/1/16 19:43:40

ZTE to raise $1.7b to boost R&D, raise global market share

Chinese telecom equipment producer ZTE Corp will raise 11.5 billion yuan ($1.7 billion) through a private share placement to finance 5G technology research and development (R&D) and increase working capital, according to a company notice on Thursday.
Source: Global Times | 2020/1/16 19:28:40

The government aims to better support general aviation industry

China's civil aviation regulator said the government will further reduce the institutional costs of general aviation operations to better support the industry's development.
Source: Global Times | 2020/1/16 19:23:40

Chinese customs cut taxes of $52.8 billion in 2019: official

Chinese customs in 2019 cut 363.5 billion yuan ($52.8 billion) in taxes as part of the country's overall fiscal stimulus measures to support an economic growth that is faced with increasing downward pressure, a Chinese official said on Thursday.
Source: Global Times | 2020/1/16 17:48:40

Text of phase one deal balanced, fair: experts

The phase one trade agreement between China and the US reflected what Chinese officials have long stressed – that any deal must be balanced and fair and include initiatives that, if properly executed, could help address disputes and avoid further confrontation, Chinese analysts said on Thursday.
Source: Global Times | 2020/1/16 17:35:38

China may ask the US to remove tariffs before phase two talks: expert

China will need time to assess the just-signed phase one trade agreement and other complicating factors before launching negotiations with the US for a phase two agreement. US officials, including Vice President Mike Pence, who claim the talks are already underway may be getting ahead of themselves, a government advisor and experts said on Thursday.
Source: Global Times | 2020/1/16 15:53:40

China's first high-speed rail stock lands on A-share market

Beijing-Shanghai High-Speed Railway Co (BSHSR) on Thursday closed its debut on the Shanghai Stock Exchange at the daily trading limit, marking a bullish start to the company's listing.
Source: Global Times | 2020/1/16 14:39:14