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China’s provinces set confident economic growth targets for 2021

Several of China’s provincial governments have released their economic growth targets for 2021, but policy advisers say that as in 2020, the central government is unlikely to set a national goal for the year. Beijing said last week that the Chinese economy expanded by 2.3 per cent in 2020… To read more: https://www.scmp.com/economy/china-economy/article/3119020/chinas-provinces-set-confident-economic-growth-targets-2021 (2)

China debuts bullet train that can operate in extremely cold temperatures

China has unveiled a new high-speed bullet train designed for extremely cold climates. The CR400AF-G train, which can operate at speeds of up to 350 kilometers per hour (217 mph) in temperatures as low as -40 degrees Celsius (-40 degrees Fahrenheit), is part of… To read more: https://edition.cnn.com/travel/article/china-bullet-train-cold-weather-fuxing/index.html SOURCE: CNN (4)

New York to Delist Chinese Telecom Firms in Symbolic Shift

The New York Stock Exchange said it would delist China’s three big state-run telecommunications companies following an executive order from the Trump administration, in a symbolic severing of longstanding ties between the Chinese business world and Wall Street. The exchange said in a statement late… To read more: https://www.nytimes.com/2021/01/01/business/nyse-delist-china-mobile.html?referringSource=articleShare SOURCE: THE NEW YORK TIMES (2)

Chinese chipmaker SMIC-related shares surge, defying US’ stepped-up crackdown

China’s A-shares related to leading chipmaker Semiconductor Manufacturing International Corp (SMIC) surged on Monday, defying the Trump administration’ latest move of putting SMIC on its Entity List, which aims to contain China’s development of indigenous advanced technologies. Industry observers noted that the US’ action amounts to a monumental obstacle for SMIC’s high-end chip production in […]

China strikes triumphal note over economic recovery as it looks to cut reliance on US technology

An economic planning meeting involving China’s top leadership ended on an unusually triumphalist note about the country’s recovery from Covid-19 as Beijing set out a series of policies to boost-self reliance amid its ongoing tensions with the US. The statement released on Friday night at the end of the Central Economic Work Conference led with […]

China trade: exports surge to record levels, as coronavirus lockdowns return to the West

China’s exports surged at the fastest pace in almost three years in November, bringing the biggest monthly export haul in the country’s history, data released by its customs agency on Monday showed. Exports grew by 21.1 per cent last month from a year earlier, from 11.4 per cent in October and.. To read more: https://www.scmp.com/economy/china-economy/article/3112820/china-trade-exports-sent-rocketing-coronavirus-lockdowns SOURCE: SOUTH […]

New regional trade deals to help China ‘sustain its advantages’ in global supply chains

China is set to remain a key player in global supply chains, thanks to a combination of factors ranging from the coronavirus pandemic to new trade agreements. China and 14 other countries signed the Regional Comprehensive Economic Partnership (RCEP) this month, forming the largest trade pact in the world… To read more: https://www.cnbc.com/2020/11/23/china-set-to-dominate-global-supply-chains-as-rcep-trade-deal-is-signed.html SOURCE: CNBC (4)

RCEP’s synergy with China’s economic strategy bodes well for Asia-Pacific

After eight years of tough negotiations, November 15 saw a breakthrough for regional cooperation as 15 Asia-Pacific nations signed the biggest free-trade deal in history. Comprising the 10 Asean members, Australia, China, Japan, New Zealand and South Korea, the Regional Comprehensive Economic Partnership (RCEP) will reduce trade barriers across a third of the world’s population and economic […]

China’s tech clampdown wipes $260bn off share values

Chinese technology giants from Alibaba Group Holding Ltd. to Tencent Holdings Ltd shed almost $260 billion of market value over two days of frantic selling, as investors scrambled to assess the fallout from Beijing’s broadest attempt to rein in its most powerful private-sector firms. Technology shares tumbled for a second day after Beijing issued regulations […]

China to Stop its Tech Giants From Becoming Too Powerful

Singles Day, a Black Friday-like shopping festival dreamed up by large retailers, is normally boom time for China’s major online platforms. And indeed Alibaba, which this year started its 11.11 event back on Nov. 1, claims a record $56 billion (RMB372 billion) of business, and sales coming in at up to 583,000 orders per second. But […]

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