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The profit of industrial enterprises in China in the first two months of the year showed a record drop since the end of 2011. According to the National Bureau of Statistics, the cumulative figure for January and February amounted to 708 billion 10 million yuan, decreasing in annual terms by 14%. The main reason for the fall in profits is the decline in prices in the automotive, oil refining, chemical and steel industries. These key Chinese industries are also showing slower production and sales. Automotive companies have reduced profits by 37 billion 100 million yuan. In the petroleum industry, the figure fell to 31 billion 100 million yuan. The Chinese authorities have decided to reduce the value added tax for the manufacturing sector from 16% to 13%.
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 ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
KYC Policy