The plunge in China’s exports and imports eased in March as factories resumed production, but shipments are set to shrink sharply over coming months as the coronavirus crisis shuts down many economies and puts the brakes on a near-term recovery.
Profits at China’s industrial firms rose for a second straight month and at the fastest pace in over a year, adding to signs the country’s economic recovery from the coronavirus crisis is gaining momentum.
The World Trade organisation (WTO), on Tuesday upheld a complaint by China over additional duties slapped by the Trump administration on some $250 billion worth of Chinese goods.
The latest additions to China’s list of controlled technology exports could upset a broad range of industries and raise the possibility that some global tech giants might have to split off their Chinese operations, legal experts said.
An index of stocks across the globe fell on Thursday and the dollar rose for a fifth session running on lingering concern about another economic hit from the coronavirus pandemic.
The United States has imposed restrictions on exports to China’s biggest chip maker SMIC after concluding there is an “unacceptable risk” equipment supplied to it could be used for military purposes.
Profits at China’s industrial firms grew for the fourth straight month in August, buoyed in part by a rebound in commodities prices and equipment manufacturing, the statistics bureau said on Sunday.
The global manufacturing activity expanded in July, adding to hopes the sector is emerging from the hit of the coronavirus pandemic.
The Fifth Plenum of the 19th Central Committee of the Chinese Communist Party (CCP) was held between October 26 and 29 at Beijing’s Jingxi Hotel; if one is to believe the Xinhua statement, China is doing very well.