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China needs to set GDP target for 2020 in the 4-5.6 pct range: former central bank advisor

China should set a GDP growth target for 2020 to coordinate economic growth amid the coronavirus pandemic, Li Daokui, a former advisor to China's central bank said on Tuesday, suggesting a 4-5.6 percent range for the nation to add 11 million new jobs, a prerequisite for social stability.
Source: | 2020/4/1 2:31:33

China rolls out biggest virus relief measures yet for SMEs, low-income families

China on Tuesday rolled out another batch of robust measures aimed at helping small businesses with hundreds of billions of dollars in extra funding and hundreds of millions of dollars in subsidies for low-income households.
Source: | 2020/3/31 23:37:23

Latest rally led by US stocks precludes renewed attempts to find a bottom amid COVID-19

This past quarter may well count as one of the rockiest in history for stock investors across the globe. The aspiration of many investors that had been ballooned by a juicy start to the year has largely evaporated throughout March when circuit breakers were tripped one after another across markets from the US to Europe to Asia.
Source: Global Times | 2020/3/31 22:33:40

Blockchain technology boosts sales in China

Brands from healthcare to seafood have seen sales shoot up dramatically after they started to use the blockchain technology-backed traceability solution provided by a Chinese website, testifying to the business potential of this new technology.
Source: Global Times | 2020/3/31 21:33:40

China to fully open asset management market as planned despite coronavirus

China will stick to the plan of opening its trillion-dollar asset management market to overseas institutions in April, a gesture that signals the country's determination to open up despite the coronavirus blow and which will provide a boost for global capital markets because of the huge market potential in China, analysts said.
Source: Global Times | 2020/3/31 20:48:41

Scientific research pivotal to China's COVID-19 fight

Science and technology, which have led China onto a new development path driven by innovation, are also playing a pivotal role in preventing the spread of the novel coronavirus and saving lives amid the COVID-19 pandemic.
Source: Xinhua | 2020/3/31 20:48:40

China will take countermeasures if Washington imposes chip ban on Huawei: executive

If the US government arbitrarily changes the rules of the market, the Chinese government will not remain idle and just watch Huawei put on the chopping board, as it will have no other choice but to take similar countermeasures against US firms, a Huawei executive told the Global Times on Tuesday.
Source: Global Times | 2020/3/31 20:03:40

More commercial airlines operate cargo-only services to China

With many airlines in the world canceling or sharply reducing their international flights, a rising number of passenger planes now sit idle in airports.
Source: Global Times | 2020/3/31 19:18:40

China spearheads efforts to end trade wars amid epidemic

Just as China is stepping efforts to help countries around the world to combat the coronavirus pandemic, Chinese officials are actively pushing for cuts to tariffs and removal of trade barriers to not just help the global economy cushion the potentially grave impact but also preserve the multilateral free trade system amid rising protectionism.
Source: Global Times | 2020/3/31 19:13:40

China's energy derivatives market opens further

China's State Council agreed to set up a complete oil and gas production chain in the China (Zhejiang) Pilot Free Trade Zone (FTZ) on Tuesday, which will introduce international traders, let private companies to proceed refined oil products and actively promoting yuan settlement of trade in bulk commodities.
Source: Global Times | 2020/3/31 19:08:40

China's mask exports not as promising as expected

Despite the spread of the coronavirus, which has killed more than 30,000 people globally, Chinese face mask makers are faced with a bumpy road in exporting medical equipment.
Source: Global Times | 2020/3/31 17:58:40

China may lower 2020 GDP target to 5% to achieve development goals

China's purchasing managers' index (PMI) bounced back to 53 in March, bolstering the country's confidence to ramp up efforts to achieve this year's economic and social development goals, though some economists said that a GDP growth rate of 5 percent for the year is acceptable.
Source: Global Times | 2020/3/31 17:53:40

Chinese medical supplies' 'quality concerns' overblown

As China mounted a nationwide effort to produce desperately needed medical supplies, concerns over the quality of some Chinese-made equipment have been raised, and some foreign media outlets and politicians have even attempted to hype up recent incidents to smear China's manufacturing sector and its intention to help other countries.
Source: Global Times | 2020/3/31 1:13:40

China to issue special treasury bonds, scale may reach 2 trillion yuan

China may issue its third batch of special treasury bonds with a scale expected to reach 2 trillion yuan ($282 trillion), experts forecast after the nation proposed an issuance of special treasury bonds 13 years after the second issuance in 2007, as one of the means to combat the negative impact from the coronavirus pandemic.
Source: Global Times | 2020/3/30 23:18:40

Hangzhou drives consumption of 450 million yuan with nearly 30 million worth of coupons

Hangzhou, capital city of East China's Zhejiang Province, has distributed 28.89 million yuan ($4 million) worth of coupons to encourage consumption, which in turn has driven consumer spending of 453 million yuan in three days.
Source: Global Times | 2020/3/30 22:43:40

Pandemic to hit US families harder

The coronavirus pandemic will hit US families in a much harsher way than Chinese households, although many Chinese families will also encounter financial difficulties as a result of the knock-on effects, such as slashed personal income, analysts say.
Source: Global Times | 2020/3/30 20:43:40

Shipping ventures are facing heavy coronavirus perils

Maersk, the world's leading container shipping company, on Monday confirmed five crew members aboard the Gjertrud Maersk container ship have tested positive for the novel coronavirus, casting shadows over the possible impact on China's shipping industry amid the growing pandemic.
Source: Global Times | 2020/3/30 19:48:40

Hubei airports see passenger rebound, but air carriers face load burden

Airports in Central China's Hubei Province, the worst hit by the COVID-19 pandemic, resumed business as of Sunday, but the task of improving load factors remains a challenge ahead for air carriers.
Source: Global Times | 2020/3/30 19:18:40