China's Ministry of Commerce spokesperson Gao Feng attends a news conference at the commerce ministry in Beijing, China. File photo/Reuters
Lead negotiators for China and the United States will meet in Shanghai on July 30 and July 31 for trade talks, China's commerce ministry said on Thursday.
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.
The purchase of US agricultural goods has nothing to do with the restarting of the trade talks, Gao said.
Equity investors gave a guarded welcome on Tuesday to a resumption of US-China trade talks, but fretted over weaker global economic data, traders said.
As optimism grows that the United States and China are nearing a trade deal, Japan kicks off its own negotiations with Washington from Monday, hoping to resolve some of the issues «very quickly.» US Trade Representative Robert Lighthizer and Japan›s Economy Minister Toshimitsu Motegi
China’s factory activity shrank more than expected in June, an official manufacturing survey showed, highlighting the need for more economic stimulus as US tariffs and weaker domestic demand ramped up pressure on new orders for goods.
Risk sentiment was also undermined after Federal Reserve officials expressed concern that rising coronavirus cases could harm economic growth just as stimulus measures start to expire.
A string of positive indicators from China to the US in recent weeks — as well hopes for a vaccine and the easing of lockdowns around the world — has added fuel to a global rally that has lifted equities out of the March depths.
Across Pakistan's "mango belt" in Punjab and Sindh provinces, farmers say a long winter and changing rain patterns have slashed production by up to half this year -- just as virus shutdowns sparked border restrictions and spiralling export costs.
The United Arab Emirates stock markets closed higher on Tuesday, led by financials and property shares. Dubai’s main share index gained 0.5%, led by a 1.5% rise in blue-chip developer Emaar Properties and a 0.5% gain in Emirates NBD Bank.