Posted inEconomy
China’s tax, fee cuts total over 742 bln yuan in Q1
China's top tax watchdog said Wednesday that the country's tax and fee cuts totaled 742.8 billion yuan (about 105 billion US dollars) in the first quarter (Q1) of the year.…
Posted inEconomy
China’s industrial profits fall 36.7% in Q1 as most sectors hit by COVID-19
Profits of China's major industrial firms dropped 36.7 percent year-on-year in the first quarter (Q1) amid the COVID-19 pandemic, with the decline narrowing 1.6 percentage points from the first two…
Posted inEconomy
Manufacturing sector’s profit declines narrow in China
Experts see rebound coming as production resumes, demand revives China's manufacturing industry showed a mixed picture in the first quarter, official data showed, with profit declines narrowing but many sectors…
Washington threat to bar 4 Chinese operators a political move: experts
A move by the US Federal Communications Commission (FCC) against four Chinese telecom operators is more about politics than the security concerns it cited, which is in line with Washington's…
China works on quality as exports of medical supplies for COVID-19 hit $7.7b
China has stepped up supervision of the quality of epidemic prevention and control products for export, as well as the scale of those exports, which reached 55 billion yuan ($7.7…
Posted inEconomy
Chinese equity market a beacon for rebound on global markets
China's stock market staged a strong rebound from Friday's massive sell-offs on Monday, which experts said could herald global markets' recovery following last week's rout on rising COVID-19 epidemic fears.…
Posted inEconomy
Coronavirus sends orders for industrial robots soaring amid labor shortages
As Chinese companies struggle to reopen amid labor shortages caused by strict coronavirus control measures across the country, demand for industrial robots and highly automated production lines has been catalyzed…
Posted inEconomy
Caixin manufacturing PMI hits historic low of 40.3 in February
China's Caixin manufacturing purchasing managers' index (PMI), a gauge of small and medium-sized manufacturers' activity, hit a record low of 40.3 in February amid the COVID-19 outbreak, but industry insiders…
Posted inEconomy
90% of Australian businesses operating in China take hit from COVID-19
The coronavirus outbreak in China has disrupted global supply chains and slammed the brakes on many industries ranging from retail and tourism to shipping, and Australia, which sends more than…
Posted inEconomy
US stocks close sharply lower amid rising risk aversion
US stocks plunged on Monday with all three major indexes plunging more than 3 percent amid rising risk aversion. The Dow fell 3.56 percent to 27,960.80, and the S&P 500…