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RCEP ushers in a key period for global free trade

In stark contrast to the chaotic scenes of countries resorting to self-isolation and finger-pointing at the start of the COVID-19 outbreak earlier this year, major economies in the Asia-Pacific and around the world face a critical window of opportunity to cap this year of profound hardship by reaching much-needed breakthroughs in regional and global cooperation on trade and investment.
Source: Global Times | 2020/11/18 19:55:54

International copper futures to start trading in China

China will expand the opening-up of its commodities markets by allowing overseas investors to trade copper futures on the Shanghai International Energy Exchange of the Shanghai Futures Exchange, starting from Thursday.
Source: Global Times | 2020/11/18 19:00:38

Huawei says Honor sale will not affect its net assets, solvency

Selling Honor's assets aligns with the internal decision-making process of Huawei, and will not cause a decrease in the firm's combined net assets, nor it will have any major impacts on company solvency, Huawei said in a statement on Wednesday.
Source: Global Times | 2020/11/18 18:43:40

With a stronger currency, Chinese exporters' profits feel pinch

Chinese exporters are starting to feel a pinch on their profitability as the yuan continues to appreciate. The currency's central parity rate soared to a nearly 29-month high on Wednesday against the US dollar.
Source: Global Times | 2020/11/18 18:41:39

BRI progressing well despite COVID19 headwinds: FM

China's Belt and Road Initiative (BRI) progress has showed strong resilience despite coronavirus-caused headwinds, the Foreign Ministry said on Wednesday, announcing that China has signed 201 BRI cooperation documents with 138 countries and 31 international organizations.
Source: Global Times | 2020/11/18 18:09:10

2020 Global Cities Report: Beijing replaces Hong Kong among top 5

The 2020 Global Cities Report, released by global strategy and management consulting firm Kearney on Wednesday, presented the Global Cities Index (GCI) and the Global Cities Outlook (GCO), which together provided a comprehensive analysis of cities' positions and future prospects.
Source: Global Times | 2020/11/18 17:22:13

Controversial Wuhan semiconductor manufacturer acquired by local state assets

Semiconductor maker Wuhan Hongxin Semiconductor Manufacturing Co (HSMC) has been reportedly fully taken over by the local unit of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in Dongxihu district, Wuhan in Central China's Hubei Province.
Source: Global Times | 2020/11/18 13:48:41

China to produce, sell over 10 million NEVs during 2021-2025

China's production and sales of new energy vehicles (NEVs) will reach more than 10 million units during the 14th Five-Year Plan period (2021-2025), according to a report released Wednesday by the Chinese Academy of Social Sciences.
Source: Global Times | 2020/11/18 13:38:41

Chinese yuan climbs to 29-month high against US dollar

The Chinese yuan's recent trend of appreciation shows no signs of slowing down, as the currency's central parity rate soared to nearly 29-month high on Wednesday against the US dollar, following release of upbeat economic data in October by the Chinese statistics authority.
Source: Global Times | 2020/11/18 13:08:40

Hong Kong, mainland Stock Connect posts record trading as it celebrates 6th anniversary

As the HK-mainland stock connect celebrates its 6th anniversary, Hong Kong and international investors' holding of Shanghai and Shenzhen stock exchange A-shares rose to 2.1 trillion yuan ($320 billion), a stark contrast to 86.5 billion yuan at the end of 2014, shortly after the launch of the mechanism.
Source: Global Times | 2020/11/18 10:49:10

Honor sell-off 'warning bell' to tech sector amid US political crackdown

It was a symbolic day when the Chinese tech giant Huawei Technologies – the world's second-largest smartphone vendor – finally decided to strip off its subsidiary phone brand Honor, which has greatly contributed to the development of Huawei's consumer business. This difficult decision was interpreted by Chinese industry insiders as intensified warning shot for the whole industry in face of US-initiated tech war.
Source: Global Times | 2020/11/17 21:06:05

Ant Group's IPO suspension well-accepted among investors: regulator

The regulatory move to suspend Ant Group's IPO is well accepted among international investors, Fang Xinghai, vice chairman of the China Securities Regulatory Commission said on Tuesday, putting the markets on notice about greater regulatory attention to the technology stocks.
Source: Global Times | 2020/11/17 19:17:06

Huawei to soon announce plan to sell-off its Honor brand amid US pressure

Chinese tech giant Huawei Technologies will soon announce it will sell-off its sub brand Honor, considered a critical move in easing the impacts of the US' chipset ban and ensuring its sales as well as supply chain remain afloat, some analysts said.
Source: Global Times | 2020/11/16 19:25:04

Annual target met early with 10.09 million new urban jobs

More than 10 million jobs were created in China's urban areas between January and October, an official said on Monday, describing the country's job market as "stable."
Source: Global Times | 2020/11/16 19:23:16

RCEP boosts China's new round of opening up: Ministry of Commerce

The signing of The Regional Comprehensive Economic Partnership (RCEP) is a great step towards the implementation of China's free-trade-zone strategy, China's Ministry of Commerce has said.
Source: Global Times | 2020/11/16 14:53:40

China's Q4 economic growth will be faster than in Q3: National Bureau of Statistics

China's Q4 economic growth will be faster than in Q3: National Bureau of Statistics
Source: Global Times | 2020/11/16 10:43:12

China's retail sales of consumer goods in Oct rise 4.3% from last year

In October, China's retail sales of consumer goods totaled 3.8576 trillion yuan ($580 billion), up 4.3% y-o-y.
Source: Global Times | 2020/11/16 10:12:57

RCEP can't mend China-Australia ties

The signing of the landmark Regional Comprehensive Economic Partnership (RCEP) can no doubt improve the trade environment between China and Australia, but it may not be enough to mend bilateral ties, which are at rock bottom with no sign of recovery, due to Canberra's irrational attacks on China and discriminatory measures against Chinese investment, analysts said.
Source: Global Times | 2020/11/15 20:03:40