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China's outbound investment in BRI partners grows in first four months of 2020

China's outbound direct investment in the countries involved in the Belt and Road Initiative (BRI) increased more than 13 percent in the first four months of 2020, despite the grim outlook on the global economy under the shadow of the spreading coronavirus pandemic.
Source: Global Times | 2020/6/3 16:58:40

China speeds up digital currency trials to blunt US financial hegemony

Contrary to market expectations, China may not launch its central bank-backed sovereign digital currency DC/EP this year, industry insiders said. But relevant tests are running in a full swing as there is a widespread sense of urgency amid Beijing's efforts to challenge the US-dominated global financial order.
Source: Global Times | 2020/6/3 15:40:14

US initiates trade probe into digital services taxes considered by 10 trading partners

The United States is starting Section 301 investigations into digital services taxes considered by 10 U.S. trading partners, including the European Union (EU), Brazil and India, the Office of the U.S. Trade Representative (USTR) announced on Tuesday.
Source: Xinhua | 2020/6/3 13:48:36

Caixin services PMI hits almost 10-year high of 55 in May

The Caixin services Purchasing Managers Index (PMI), a gauge of activity in China's services sector, hit a 10-year high of 55 in May, reflecting great improvement in the country's services sector amid relaxed coronavirus prevention measures.
Source: Global Times | 2020/6/3 11:35:58

China should renegotiate energy trade deal with US: CNPC researcher

A researcher at China National Petroleum Corp (CNPC) said Tuesday that fulfilling the China-US phase one trade deal will be difficult. Both sides should renegotiate an energy trade deal so that it benefits each other, he said.
Source: Global Times | 2020/6/2 23:46:35

US protests trigger demand for T-shirts, caps, items emblazoned with slogan

T-shirts, caps and face masks bearing "I can't breathe" are being sold on online platforms in China, after protests spread across the US over the killing of George Floyd, which lead to rising market demand for products bearing the slogan.
Source: Global Times | 2020/6/2 21:55:21

SMIC's Shanghai IPO to accelerate R&D

Domestic chipmaker Semiconductor Manufacturing International Corp (SMIC)'s planned IPO on the Sci-Tech Innovation Board may give it a much-needed shot in the arm to speed up research and development into 7-nanometer chips and assume the role of leading player Taiwan-based TSMC in supplying Huawei in the coming two to three years, industry insiders say.
Source: Global Times | 2020/6/2 21:01:05

Brazil may gain iron ore share

Chinese demand for iron ore, a key raw material for making steel, is on the rise -- and Brazil is expected to seize a bigger market share despite a slump in May shipments, Chinese experts said on Tuesday.
Source: Global Times | 2020/6/2 20:09:38

China's rare-earth firm moves from foreign-dependent to self-reliant

China's leading rare-earth supplier is speeding up construction of production facilities for ceria-zirconia solid solution that are expected to open in September. Experts said the development shows that China's rare-earth ceria-zirconia solid solution technology has broken international monopoly.
Source: Global Times | 2020/6/2 19:02:44

China sends implicit warning to US on farm imports

Beijing could be sending Washington an implicit warning that it could halt purchases of US agricultural products, in case the Trump administration imposes harsh sanctions on the Hong Kong Special Administrative Region (HKSAR) over the national security legislation by China's National People's Congress.
Source: Global Times | 2020/6/2 18:23:40

Change in direction to promote high-quality transformation in China's economy attracts international interest

Chinese and foreign firms are showing increasing enthusiasm toward China's new infrastructure plan as it accelerates the move toward new emphases and is expected to bring new drivers for the economy and help hedge against the fallout of the coronavirus outbreak.
Source: Global Times | 2020/6/2 17:43:42

China moves to simplify gold trading

Chinese authorities have reduced documents required for gold trading, which is expected to simplify a complex procedure.
Source: Global Times | 2020/6/2 16:08:40

China's recovering market deemed a 'lifesaver' for European airlines

China's market could be a “lifesaver” for European airlines, some of whom have been pushed to the brink of bankruptcy under the fallout of COVID-19 that has grounded most planes, industry insiders said.
Source: Global Times | 2020/6/2 15:58:40

European airlines operate at 50% lower capacity than last year

European airlines are now operating at 50 percent of their capacity last year, and are looking to China to “play a role” in boosting their revenues when travel resumes, a European business group told the Global Times on Tuesday.
Source: Global Times | 2020/6/2 12:03:40

Chinese shares immune to Trump's bark and no bite

US President Donald Trump's flame-fanning rants against China have been rallying instead of sinking Chinese stocks, unwittingly thrusting the resilience of Hong Kong's market into the spotlight.
Source: Global Times | 2020/6/1 20:53:40

China releases master plan for Hainan free trade port

Chinese authorities on Monday released a master plan for the Hainan free trade port, which aims to build the southern island province into a globally-influential high-level free trade port by the middle of the century.
Source: Xinhua | 2020/6/1 20:25:43

China's Caixin manufacturing PMI expands in May, highest since February

The Caixin/Markit manufacturing Purchasing Managers Index (PMI), a gauge of activity in China's manufacturing sector, returned to expansion territory at 50.7 in May, reflecting an accelerated recovery in economic activity.
Source: Global Times | 2020/6/1 19:48:40

Huawei hiring global genius youth amid US chip ban

Huawei's semiconductor chips subsidiary is hiring global genius amid a US chip ban, a move that experts said is a well-planned counter to US bullying that shows the company's confidence in becoming self-sufficient in chips supply in about two years.
Source: Global Times | 2020/6/1 19:43:40

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