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EU to be self-sufficient in EV batteries by 2025

The European Union could produce enough batteries by 2025 to power its fast-growing fleet of electric vehicles (EV) without relying on imported cells, European Commission Vice President Maros Sefcovic said on Tuesday.
Source: Global Times - Reuters | 2020/11/26 18:48:40

China's central bank to conduct strict supervision on cash rejection

In response to a trend towards discriminating and exclusion of using cash, China will carry out centralized rectification of the rejection of cash and the formation of sustainable mechanisms, said Li Wei, director of Technology Department of People's Bank of China (PBC) on Thursday.
Source: Global Times | 2020/11/26 15:47:32

Concerns about export restrictions drive up rare-earth prices

Chinese export control law that will take effect starting on December 1 may include rare earth as a retaliatory measure responding to US sanctions over chip supplies targeting Huawei, experts said.
Source: Global Times | 2020/11/26 13:37:50

China's October US soybean imports up 200%, could continuously increase as goodwill gesture to incoming new administration: analyst

China soybean imports from the US have surged almost 200 percent year-on-year in October, as the phase-one trade deal moves forward.
Source: Global Times | 2020/11/26 13:07:52

CAS president lists technology 'bottlenecks' faced by country

China should enhance research and development of strategic sciences and technologies to support their independence and sustainability, said Bai Chunli, president of the Chinese Academy of Sciences (CAS), on the 17th caijing annual forum held on Monday.
Source: Global Times | 2020/11/25 17:17:02

Global COVID-19 QR code key to restart

One of China's distinct solutions to combat COVID-19 pandemic is setting up an international mechanism consisting of a QR health code as proposed by China's top leader over the weekend.
Source: Global Times | 2020/11/24 20:53:40

Consumers shun Black Friday as cargo-related virus cases rise

As retailers and e-commerce platforms are busy preparing for the Black Friday sale, Chinese consumers, who had an increasing role in the annual US shopping event last year, are holding back since freight-related COVID-19 cases have seen signs of rising.
Source: Global Times | 2020/11/24 19:38:41

HKEX mulls new platform to enhance mainland-HK stock connect program

Hong Kong Exchanges and Clearing (HKEX), operator of the Hong Kong stock market, announced on Tuesday that it plans to introduce Synapse, an integrated settlement acceleration platform underpinning growth of global investor access and participation in China's mainland equity market through the stock connect regime.
Source: Global Times | 2020/11/24 16:26:39

Pudong airport cargo operations not affected by COVID-19 cases

Despite new confirmed COVID-19 cases linked to cargo operations at the Shanghai Pudong International Airport, there has been no impact on operations – even as testing has been conducted on workers and a top medical expert on Monday called for the outer packaging of cargo to be disinfected.
Source: Global Times | 2020/11/23 21:09:51

US' crackdown on Chinese transshipment via Vietnam has no practical significance: analyst

Moves by the US to increase pressure on Vietnam, an emerging Southeast Asian manufacturing hub, over its transshipment role for Chinese-made goods, have no practical significance, and if this practice is halted, all parties will lose, analysts told the Global Times.
Source: Global Times | 2020/11/23 20:13:40

Update: China backs developing-world debt relief

The G20 is expected to endorse a plan to extend a debt-servicing moratorium for poor and highly indebted economies in the developing world by six months to mid-2021, said a draft G20 communique, as the coronavirus pandemic has hit the most vulnerable nations in the world hardest.
Source: Global Times | 2020/11/22 21:23:33

US-Taiwan semiconductor deal a political show: experts

Taiwanese authorities is putting their key supply chains at risk by following the US government blindly in trying to set up a unilateral one-way route of supply chain, which serves the US' ill intention to contain the Chinese mainland, the world's largest and fastest- growing electronics market.
Source: Global Times | 2020/11/22 20:13:40

Guangzhou to set up futures exchange to serve real economy

The Guangzhou Futures Exchange has been approved by the State Council and is expected to go into operation within this year, said Chen Zhiying, executive deputy mayor of Guangzhou at the International Finance Forum 2020 Annual Meeting (F20 Summit) on Saturday.
Source: Global Times | 2020/11/22 19:53:40

China's Q3 bike exports exceed $1b, a record high since 1995

China's bike industry has seen a gross merchandise volume exceeding 100 percent growth year-on-year for the past six consecutive months, with October alone rising even more significantly at 220 percent, latest statistics that sent to the Global Times showed.
Source: Global Times | 2020/11/22 16:47:17

Hong Kong eyes for an early RCEP membership to boost its economy

The Financial Secretary of Hong Kong Special Administrative Region, Chan Mo Po, penned an article posted on the official website of Hong Kong Financial Secretary that Hong Kong will strive to join the first batch economies after the RECP agreements take effect.
Source: Global Times | 2020/11/22 16:28:12

China greenlights three sci-tech innovation IPOs

China's securities regulator has approved the initial public offering (IPO) registration of three companies on the science and technology innovation board.
Source: Xinhua | 2020/11/22 9:31:55

China's interest in CPTPP membership seen as a chance to ease Sino-US tensions

China's bold decision to consider joining a massive Asia-Pacific trade agreement shows the country's intent to seek higher-level opening up, a move which would breathe new life into free trade at a time when many countries are trying to shift away from the US-initiated penchant for protectionism in order to save their pandemic-stricken economy.
Source: Global Times | 2020/11/21 21:27:07

China and US should negotiate BIT after Joe Biden takes office: analysts

China and the US should work together to negotiate a Bilateral Investment Treaty (BIT) after president-elect Joe Biden takes office, said economists and analysts, amid China's ongoing push for greater opening-up and post-virus global economic recovery which needs closer cooperation among major powers.
Source: Global Times | 2020/11/21 16:13:13