The president of China, Xi Jinping advocated a “stable healthy and sustainable” relationship and cooperation with United States , and also the “mutual respect” . The Chinese leader made public statements on the day he met with the US president, Joe Biden , in San Francisco, California. Registered on the Chinese
A North American unit of the Industrial and Commercial Bank of China (ICBC) was hit by ransomware this week. READ TOO The cyber attack disrupted some Chinese bank systems, reportedly hitting the liquidity of US Treasury bonds, which may have contributed to a brief market sell-off on Thursday (9). New York-based ICBC Financial Services
Share: In its latest report published on Tuesday, the International Monetary Fund (IMF) upgraded its gross domestic product (GDP) growth forecasts for China to 5.4% in 2023 and 4.6% in 2024. This came in contrast with October’s outlook when the IMF revised down 2023 and 2024 China’s growth forecasts for China to 5.0%
Chinese Communist Party Xi speaking at the Belt and Road forum: belt and road cooperation has progressed from sketching the outline into filling in the details, blueprints turned into real projects This network has boosted the flow of goods, capital, technology and human resources into countries involved Only when the world is good, China will
The softening in US August core PCE inflation (3.9% YoY vs previous 4.3%, 0.1% MoM vs previous 0.2%) failed to drive a sustained rebound in Wall Street last Friday, as Treasury yields stayed firm despite some paring in rate hike bets. While further progress on the core inflation front may offer room for the Federal
© Reuters. The is displaying signs of considerable strain, edging towards the boundary of its 2% fixed trading band against the dollar. This movement reflects the mounting pressures from a robust dollar and escalating real estate difficulties in China. The currency has depreciated over 1.9% from its daily reference rate this week, marking a significant
Further de-risking took hold of Wall Street overnight, as the usual caution persisted in the lead-up to the Federal Open Market Committee (FOMC) meeting, albeit with some paring of losses into the latter half of the session. Treasury yields resumed their ascent to retest their multi-year highs, seemingly reflecting increased positioning for a hawkish-pause scenario
© Reuters. FILE PHOTO: Signs of Chinese yuan and U.S. dollar are seen at a currency exchange store in Shanghai, China August 8, 2019. REUTERS/Aly Song/File Photo BEIJING (Reuters) -China’s yuan will stabilise after improvements in recent economic data and the bottoming out of domestic prices, state-owned media said on Monday. China’s falling interest rates
Thursday evening news from China: China’s Industrial Bank says it’ll cut its yuan deposit rates by 10-25 basis points, effective from Friday, 1 September 2023. one-year deposit rate will be cut by 10 bps to 1.75% two-year deposit rate will be cut by 20 bps to 2.00% three- and five-year rates will be cut by
The news out of China from the weekend was of supportive policy moves: A snippet from UBS, analysts there are optimistic on the developments. On more broader moves from Chinese policy makers: China’s broader package of response measures is starting to take shape. This latest round of measures adds to a growing list of steps
