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Hainan posts surging duty-free sales during National Day holiday

China's resort island province of Hainan raked in 1.04 billion yuan (about 155 million US dollars) in duty-free sales during the National Day holiday, an increase of 148.7 percent year on year, according to customs authorities.
Source: Xinhua | 2020/10/10 10:25:09

China plans to launch futures exchange in Guangzhou

China's top securities regulator announced Friday that it has decided to establish a working group for the launch of a futures exchange in the southern city of Guangzhou.
Source: Xinhua | 2020/10/10 9:35:14

Shenzhen to publicly test China's digital currency

Shenzhen, South China's Guangdong Province, along with China's central bank, will distribute 10 million yuan ($1.49 million) to its residents in the form of digital currency starting October 12.
Source: Global Times | 2020/10/9 20:38:40

China's Xinjiang sees surging cross-border e-commerce trade

Urumqi customs in northwest China's Xinjiang Uygur Autonomous Region cleared nearly 25.2 million cross-border e-commerce lists worth 106 million US dollars from January to August, up 370 percent and 390 percent respectively year on year.
Source: Xinhua | 2020/10/9 10:41:41

Swiss airport retailer Dufry forms JV with Alibaba to tap into China's duty-free market amid pandemic

Switzerland-based airport retailer Dufry AG said Monday it will form a strategic joint venture (JV) with Chinese e-commerce giant Alibaba in China, in a move to grab a piece of cake of China's booming duty-free retail sector at a time when international travel has been severely impacted by the global pandemic.
Source: Global Times | 2020/10/5 17:37:51

Hong Kong stocks rally on first October trading day in sign of confidence in mainland firms

The Hong Kong Hang Seng Index edged up 1.46 percent to 23,801.97 points in the morning session on Monday, its first trading day in October, led by bank and internet shares.
Source: Global Times | 2020/10/5 12:25:35

China's film revenue hits $1.5b, boosted by holiday moviegoers

China's film industry revenue reached 10 billion yuan ($1.47 billion) as of Saturday, a strong boost from the first festive season after the country successfully contained the COVID-19 outbreak.
Source: Global Times | 2020/10/3 20:18:21

US stock market to fall further after Trump tests positive for coronavirus: analyst

US stock futures plunged on Friday morning shortly after US President Donald Trump tweeted that he and first lady Melania Trump “tested positive for COVID-19”. All three major stock futures fell over 2 percent on midday Friday, and the yield on the 10-year Treasury note fell to 0.658 percent.
Source: Global Times | 2020/10/2 17:23:10

China's service trade deficit narrows in Jan-Aug

China's trade structure has further improved as the country's service trade deficit continued to narrow in the first eight months of this year, data from the Ministry of Commerce (MOC) showed Thursday.
Source: Xinhua | 2020/10/1 21:22:52

83 pct Chinese exports to EU are "green": German study

Around 56 percent of exports from the European Union (EU) to China were "completely benign," while 83 percent of Chinese exports to the EU were classified as "green," a study published by the Bertelsmann Stiftung, an independent foundation based in Guetersloh, Germany, has shown.
Source: Xinhua | 2020/10/1 7:47:38

HK financial system resilient despite COVID-19 challenges

Hong Kong's financial system remains resilient and stable and the city's linked exchange rate system (LERS) is in good shape, despite challenges caused by the coronavirus pandemic, the government of the Hong Kong Special Administrative Region (SAR) said.
Source: Global Times | 2020/9/28 21:08:40

Cold-chain food importers are asked to strengthen supervision

Chinese companies importing cold chain food from abroad are asked to strengthen supervision measures, to avoid importing food products from countries and regions seriously affected by the pandemic.
Source: Global Times | 2020/9/28 16:27:40

US restrictions on SMIC to force China to quicken self-reliance of microchips

The US' reported sanctions on the Semiconductor Manufacturing International Corp (SMIC) could not only deal a heavy blow to the Chinese chipmaker, but will also force the whole country, from the policymakers to industry players, to find out an effective way to grow a completely self-reliant industrial chain, even if it means huge losses in the short term, industry analysts said.
Source: Global Times | 2020/9/27 17:00:38

China's industrial profits up 19.1% in August

China's industrial profits up 19.1% in August.
Source: People's Daily | 2020/9/27 9:47:47

PBOC welcomes Chinese bonds inclusion in FTSE Russell

The People's Bank of China (PBOC), the country's central bank, said on Friday that it welcomes FTSE Russell's announcement to include Chinese bonds in its World Government Bond Index (WGBI).
Source: Xinhua | 2020/9/26 8:09:08

China launches new free trade zones for greater opening-up, high-quality development

China on Thursday officially opened three new pilot free trade zones (FTZs) and expanded one as it seeks greater opening-up and high-quality development.
Source: Xinhua | 2020/9/25 9:27:07

China, New Zealand agree to upgrade FTA: MOFCOM

China and New Zealand agreed on Wednesday to promote cooperation within the framework of the Belt and Road Initiative and move forward the bilateral efforts on upgrading the free trade agreement (FTA), said Gao Feng, a spokesperson for the Ministry of Commerce (MOFCOM), at a press conference on Thursday.
Source: CGTN | 2020/9/25 9:23:14

Exporting TikTok tech to US unlikely

As ByteDance, parent company of viral short-form video app TikTok, applied to Chinese authorities for a permit for the TikTok deal in the US, Chinese analysts said the chance of approval of the current arrangement is slim over technological, legal and political reasons.
Source: Global Times | 2020/9/24 20:18:41