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China market news wrap-up

Chinese stocks regained their upward trend on Wednesday and reversed Tuesday's across-the-board stampede as investors seemed to have digested the news of the coronavirus outbreak.
Source: Global Times | 2020/1/22 18:38:41

China market news wrap-up

An uptick in mainland shares on Monday turned into an across-the-board stampede Tuesday amid the coronavirus outbreak which is spreading to more cities including Beijing and Shanghai. The Shenzhen Component Index and the tech-heavy ChiNext index tumbled too. The novel coronavirus pneumonia was initially diagnosed in Wuhan City in Central China's Hubei Province, a transportation hub.
Source: Global Times | 2020/1/21 19:23:40

Wuhan pneumonia to disturb capital market in short term: analysts

The spreading Wuhan novel pneumonia has been dominating headlines and has impacted China's capital markets ahead of the Spring Festival holidays. Analysts predict that fluctuations in the market will be short-term and investors should focus on value investing.
Source: Global Times | 2020/1/21 19:13:40

HK government 'strongly disagrees' with Moody's rate cut

The Hong Kong government on Tuesday issued a statement in response to Moody's recent downgrading of the city's long-term debt issuer rating amid social unrest, saying it strongly disagrees with the agency's assessment of the current situation.
Source: Global Times | 2020/1/21 13:12:37

China welcomes high-quality, competitive US products to the Chinese market: Commerce Ministry

China and the US will make joint efforts to implement the phase one trade deal, aiming to further advance bilateral economic and trade development and contribute positive growth to the world economy, a senior Chinese trade official said on Tuesday.
Source: Global Times | 2020/1/21 12:16:50

China's FDI rose 5.8% in 2019, maintaining country's status as second-largest destination for foreign investment: official

China remained the world's second-largest destination for foreign investment in 2019 thanks to the country's strengthened efforts to open its market, a senior official said on Tuesday.
Source: Global Times | 2020/1/21 11:58:40

China's new lending benchmark LPR unchanged in January

China's new lending benchmark, the loan prime rate (LPR), has been unchanged in January, although experts predicted that the government will guide the LPR lower later this year to cut corporate borrowing costs and provide stimulus as the country's GDP growth slows to the lowest in years.
Source: Global Times | 2020/1/20 22:03:42

China conducts first central bank bills swap in 2020

The People's Bank of China, the central bank, has conducted the first central bank bills swap (CBS) operation in 2020 to improve the liquidity of perpetual bonds issued by commercial banks.
Source: Xinhua | 2020/1/20 13:44:20

Chinese firms to import from the US based on market principles: official

Chinese companies will negotiate with US firms to expand on imports based on market principles and WTO rules, a Chinese official said Sunday in Beijing, responding to one of the key elements in the newly reached China-US first phase trade deal.
Source: Global Times | 2020/1/19 14:28:40

JPMorgan seeks full ownership of Chinese JV amid financial opening up: report

JPMorgan Chase is seeking to take full ownership of China International Fund Management Co (CIFM), a joint venture (JV) between its asset management division and a Chinese company, against the backdrop of China's efforts to open up its financial market, according to a report by Bloomberg on Wednesday, citing people familiar with the matter.
Source: Global Times | 2020/1/16 22:58:40

GDP up 6%-plus in 2019: experts

China achieved GDP growth of more than 6 percent in 2019, meaning it met the 6-6.5 percent goal set by the government at the start of the year, experts said.
Source: Global Times | 2020/1/16 21:13:41

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

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

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

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