Chinese telecoms company ZTE could resume operations within the next two to three weeks, after US President Donald Trump pledged to give it “a way back into business, fast”, analysts say.
Following a raft of measures taken by China to promote the international use of its currency, a further improvement to its global yuan payment platform, Cross-Border Interbank Payment System (CIPS), was recently unveiled, which makes trading via the platform safer, easier and smoother.
HONG KONG’S trade-reliant economy grew at the fastest pace in nearly seven years in the first quarter, on the back of strong exports and consumption.
A work pumps gas into a car at a gas station in Taiyuan, Shanxi Province, on Friday. China raised the retail price of gasoline by 170 yuan (US$26.85) per ton and that of diesel by 165 yuan per ton from Saturday, the National Development and Reform Commission said Friday. This is the fourth increase in a row since March this year.SD-Agencies
FORD Motor Co.’s vehicle sales in China fell 26 percent in April, the company said Friday, as its business remained under pressure in the world’s biggest auto market partly due to a dearth of fresh products.
THE central bank will maintain its neutral monetary policy and keep liquidity and credit growth largely steady while keeping the yuan currency basically stable, it said Friday.
THE government is considering implementing centralized custody accounts for funds from the country’s payment platforms, the Securities Times reported, in part of a drive to reduce financial risks in the fast-growing sector.
BANKS extended 1.18 trillion yuan (US$186.37 billion) in net new yuan loans in April, up slightly from March and higher than expectations, as policymakers look to support the economy as it faces fresh risks from U.S. trade threats.