SOURCE

China's rare-earth exports drop by 44% in July amid pandemic


China witnessed a steep decline in rare earths exports in July as the global epidemic resulted in weak demand.


5G to lead gaming industry in coming decade

This year's China Digital Entertainment Expo and Conference, known as China Joy, is ongoing in Shanghai. As the biggest fair for gaming, it has attracted many fans.
Source: Global Times | 2020/8/3 17:58:40

US' action against Chinese companies exposes 'hypocrisy' and 'double standards': Chinese govt official

The US threats of taking action against Chinese tech companies like TikTok have exposed the US' hypocrisy in maintaining so-called freedom and violate the WTO's nondiscrimination principal, a Chinese government official said Monday.
Source: Global Times | 2020/8/3 17:53:40

China's central bank skips reverse repos

The People's Bank of China (PBOC), the country's central bank, skipped open market operations via reverse repos Monday.
Source: Xinhua | 2020/8/3 15:28:05

Turnover tops $975 mln at motor expo in SW China

A total of 38,907 orders worth 6.8 billion yuan ($975.1 million) were placed during the 23rd Chengdu Motor Show that concluded Sunday in Chengdu, capital of southwest China's Sichuan Province.
Source: Xinhua | 2020/8/3 15:08:05

HSBC business will continue shrinking after 69% H1 profit plunge: Chinese observer

London-headquartered bank HSBC, which generates most of its profits from the Chinese market, saw its after-tax profits plunge 69 percent to $3.1 billion in the first half of 2020, amid its ongoing spat with Huawei and a series of reported misdeeds in the Chinese market that have ruined its reputation.
Source: Global Times | 2020/8/3 13:42:18

China and South Korea expect further upgrades in economy and trade: Ministry of Commerce

China and South Korea have agreed to further boost the Belt and Road Initiative with the New South and New North policies, and upgrade the quality of bilateral economic and trade cooperation, with free trade agreement negotiations and the timely signature of the Regional Comprehensive Economic Partnership (RCEP) to be pushed forward.
Source: Global Times | 2020/8/3 12:28:07

China's Caixin manufacturing PMI at 52.8 in July, highest since February 2011

China's Caixin manufacturing purchasing managers index (PMI) was at 52.8 in July, higher than expectations of 51.3 and up 1.6 percentage points from June, according to data released on Monday. Manufacturing output has been in the expansion territory for five consecutive months, with the July index seeing its highest reading since February 2011.
Source: Global Times | 2020/8/3 12:13:40

First underwater tunnel in Bangladesh excavated using China-developed machine

The first underwater tunnel in Bangladesh, the left line of the Karnaphuli River bottom tunnel project, was excavated on Sunday using a made-in-China super-diameter slurry-pressure-balance tunnel boring machine (TBM), according to media reports.
Source: Global Times | 2020/8/3 10:28:39

China-US trade relations should continue to be 'stabilizer' for bilateral ties: vice commerce minister

Chinese Vice Minister of Commerce Wang Shouwen held an online meeting with American business groups and representatives on Thursday in an open discussion on trade and investment against the backdrop of worsening China-US relations aggravated by the Trump administration.
Source: Global Times | 2020/8/2 22:56:55

TikTok ban extension of US economic, political assaults

Following a string of acts against Chinese companies ranging from Huawei to those listed on US stock exchanges, the Trump administration is now targeting TikTok, the short-form video app owned by a Beijing-based tech company, saying that they would ban its operations in the US.
Source: Global Times | 2020/8/2 20:08:38

Former Chinese banker urges that digital currency substitutes all currencies

Digital currency should substitute all currencies as much as possible to support profound monetary operation reforms, an influencer in China's financial sector said over the weekend.
Source: Global Times | 2020/8/2 21:58:40

Skyrocketing corn price driven by speculators, does not signal corn shortage: analyst

The price of corn in northern China has skyrocketed in recent days, driven by speculative trading and deep-processing enterprises, but an agricultural analyst reassured the market by saying the supply and demand of corn is heading toward a balance after the country's efforts of destocking.
Source: Global Times | 2020/8/2 21:43:18

Pompeo's so-called 'clean' 5G vendor list stinks of McCarthyism

A so-called list of "clean" 5G vendors issued by US Secretary of State Mike Pompeo stinks of McCarthyism, said Chinese analysts on Sunday.
Source: Global Times | 2020/8/2 21:33:40