China aims to make the Belt and Road (B&R) initiative sustainable and prevent debt risks, its finance minister said on Thursday, seeking to allay criticism that the infrastructure plan to boost trade and investment creates a heavy burden for some nations.
China’s central bank extended 267.4 billion yuan ($39.8 billion) to some commercial banks on Wednesday via its targeted medium-term lending facility (TMLF) as it looks to provide struggling smaller business with a steady stream of affordable financing.
China’s commercial capital of Shanghai is still far from its goal of becoming a global financial hub by 2020 due to hurdles such as capital controls and a lack of consistent rules, a report by a US business lobby group said on Thursday.
China said on Friday it was raising anti-dumping duties on certain alloy-steel seamless tubes and pipes used at utilities and imported from the United States and the European Union.
Shares in France’s Carrefour rose on Monday after it became the latest Western retailer to retreat from the Chinese market as fierce competition from domestic rivals and a growing online market puts pressure on foreign firms.
Competitive currency devaluation does not benefit any country and could cause chaos to global financial order, former China central bank governor Zhou Xiaochuan said on Friday.
Bolstered by improving sales and better margins, profits for China’s industrial companies rose in May, bucking a months-long downtrend. But analysts are unsure if the modest gains can last. China’s industrial profits have been faltering for over a year
European and US stocks climbed on Friday as investors kept a watch on developments at a G20 summit in Japan, where US President Donald Trump and Chinese counterpart Xi Jinping are due to hold key trade talks.
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.
The logistics industry in the UAE is in for big growth with more logistics parks coming up in Dubai and Abu Dhabi and Chinese companies are set to invest more than $4 billion (Dhs14.68 billion) in logistics projects in Dubai and Abu Dhabi,