SOURCE >> Economy

If HK sneezes, US will feel the impact: Hong Kong finance secretary

Paul Chan, financial secretary of the Hong Kong Special Administrative Region, said that Hong Kong is the world's third-largest foreign exchange center for the US dollar, and if Hong Kong sneezes, it will affect the US' interests. The city has the strength to deal with any impact, Chan said.
Source: Global Times | 2020/6/14 22:13:41

Australians 'overreact' against Chinese products; to harm their interests

Products made in China are causing a stir in Australia, with some Australians calling others to ditch Chinese items. However, considering the sheer scale of the imports, it is unrealistic to remove Chinese products, Chinese experts say.
Source: Global Times | 2020/6/14 22:13:40

New COVID-19 outbreak in Beijing will be contained: experts

A sudden spike in COVID-19 infections in Beijing linked to Asia's largest wholesale market struck a sudden blow to the capital city's seafood business, especially the salmon trade, and sounded the alarm about any lowering of the guard against the deadly disease.
Source: Global Times | 2020/6/14 22:03:40

India lacks conditions to lure frozen food processors away from China: expert

It is wishful thinking that India claims it can attract frozen food buyers away from China, as it has neither strong domestic demand for such products, nor a mature business environment to replace China's position in the frozen food supply chain, said Chinese experts.
Source: Global Times | 2020/6/14 21:58:40

Tech giants deny rumor they helped detect 350,000 visiting a Beijing market

Chinese technology giants Alibaba and Tencent Sunday denied rumors that their mobile payment tools had been used to assist coronavirus screening by providing relevant data after the latest outbreak of COVID-19 at Beijing's Xinfadi wholesale market.
Source: Global Times | 2020/6/14 20:53:40

Shenzhen plans full 5G coverage by end of August

Shenzhen in South China's Guangdong Province will cover the city with high quality 5G signals by the end of the August, according to the Shenzhen Industrial and Information Technology Bureau on Saturday.
Source: Global Times | 2020/6/14 14:38:40

China's non-cash payments shrink in Q1

The amount of non-cash payments by banks in China went down 5.2 percent year on year in the first quarter (Q1) of the year, a central bank report showed.
Source: Xinhua | 2020/6/13 21:47:44

China's GEM market expands stock fluctuation limit to 20%

China has deepened its reform on the growth enterprise market (GEM) in the Shenzhen Stock Exchange by allowing stocks to rise or fall by 20 percent, up from 10 percent.
Source: Global Times | 2020/6/13 18:09:30

Salmon imports may take hit due to positive coronavirus reading on chopping board: expert

Major local supermarkets in Beijing have swiftly removed salmon products from their shelves, including Carrefour and Wumart, after the cutting boards of wholesalers in Beijing's Xinfadi Market detected the novel coronavirus, putting the salmon import business into serious doubt in the short term.
Source: Global Times | 2020/6/13 15:45:31

FM says US move will 'draw fire against itself' if it restricts US capital through HK

If the US makes any move to damage the Hong Kong Special Administrative Region (HKSAR)'s interests, it will draw fire against itself, Chinese Foreign Ministry spokeswoman Hua Chunying said on Friday, in response to possible US restrictions on capital flows through the city.
Source: Global Times | 2020/6/12 19:08:18

China's central bank pilots cash flow management

The People's Bank of China, the country's central bank, is piloting cash management after gathering feedback for the past seven months, as personal withdrawals of more than 100,000 yuan ($14,132) should be registered to combat money laundering.
Source: Global Times | 2020/6/12 18:28:40

CEO livestreaming a new trend in China to boost sales

A total of 10 executives from tech firms including Baidu, Huawei, Lenovo and iFlytek, showed up in livestreaming on e-commerce platform on Thursday night to boost sales of their latest products.
Source: Global Times | 2020/6/11 23:34:21

China accelerating hydrogen construction, but still lacks top-level design

China has deployed the hydrogen industry in many provincial-level regions, but insiders think China is still lacking in top-level design, and needs to produce hydrogen in an environmentally and economically sound way.
Source: Global Times | 2020/6/11 23:12:28

China to substantially reduce negative list for foreign investment market access by the end of June

China will substantially reduce the negative list for foreign investment market access by the end of June and will release the negative list for cross-border services trade by the end of December, according to a document released by the State Council, China's cabinet, on Thursday.
Source: Global Times | 2020/6/11 22:58:40

Governments at varied levels are slashing discretionary spending

China's government departments' budgets for purchasing real estate have been slashed this year, including a 40 percent downsizing for investment, according to a statement released by the National Government Offices Administration on Wednesday.
Source: Global Times | 2020/6/11 21:08:40

Domestic coal glut bad sign for mines Down Under

A persisting supply glut in China's coal industry in recent weeks is increasing the likelihood that China will restrict Australian coal imports as bilateral ties plunge to their coldest point in decades, Chinese analysts said Thursday.
Source: Global Times | 2020/6/11 20:48:40

Australian sorghum imports dry up

An official document seen by the Global Times showed that China's sorghum imports from Australia stood at zero in March and April - when the bilateral relationship saw early signs of deterioration - showing that markets react quickly to potential risks, said industry analysts.
Source: Global Times | 2020/6/11 20:18:40

Australia should create fair, non-discriminatory environment for investors: Ministry

China's Ministry of Commerce (MOFCOM) encourages competitive domestic enterprises to invest in Australia and hopes the Australian government will create a fair and non-discriminatory environment for Chinese investors, the ministry's spokesperson said on Thursday.
Source: Global Times | 2020/6/11 18:13:40

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