An employee counts yuan banknotes next to US dollar banknotes at a branch of Bank of China in Changzhi, Shanxi province. Reuters
The United States and China said they made progress in trade talks that concluded on Friday in Beijing that Washington called “candid and constructive” as the world’s two largest economies try to resolve a bitter, nearly nine-month trade war.
US FedEx Corp on Friday again apologised and blamed Washington’s ban on Huawei for being “unclear” as Beijing deepened an investigation into why the delivery firm was holding up packages meant for the telecoms equipment maker.
Chinese firms, willing to buy American agricultural products, have asked for prices from US firms and will sign commercial contracts, ministry spokesman Gao Feng told a news conference.
China’s property investment grew at its fastest pace in four months in August, a boon for the economy as other sectors weaken from the Sino-U.S. trade war and consumer demand slows.
Shares in African diamond miner Petra Diamonds hit an all-time low on Monday after it missed forecasts with a 22 per cent fall in annual profit, as a Sino-US trade row and protests in Hong Kong dented demand in big Asian markets.
Volkswagen said on Monday it had agreed to pay up to A$127 million ($87.3 million) to settle lawsuits brought on behalf of thousands of Australian customers caught up in its global diesel emissions cheating scandal.