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Shanghai will become an international financial center by 2020, if the Chinese government’s expectations are met. Eight departments of the PRC published the “Action Plan for the Establishment of the Shanghai International Financial Center (2018-2020)”, which contains measures for the development of the city. The city authorities will make efforts to make Shanghai the global financial center by 2020, following the action plan developed by the departments of China. Measures to develop the city will include the expansion of economic openness and increased financial influence, the deepening of reforms and innovations. Shanghai will increase the competitiveness of industries, strengthen market functions and correctly allocate resources among industries. The city’s authorities are also planning to reduce financial risks and increase security in order to create an ideal business environment in Shanghai.
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 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
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, ...
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