Despite the escalation of the trade war with the United States, the Chinese leadership will promote new reforms and open its economy. However, China will do this at its own pace. At the end of last week, the State Council of China issued a statement announcing the launch of a series of measures aimed at deepening reforms in free trade zones. Now, individuals who meet certain criteria have been granted the right to invest in foreign securities on the territories of such zones. Previously, investment channels through which certain individuals were allowed to buy foreign stocks and bonds were limited to certain programs. In addition, banks will be able to conduct transactions with derivative financial instruments in RMB on behalf of a foreign organization in the free trade zone. Foreign companies will also be allowed to carry passengers and cargo to other countries from Zhengzhou and Xian.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...