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economic

Central bank to enhance market guidance to keep yuan stable

China will strengthen guidance on market expectations and guard against the risk of exchange rate overshooting to keep the yuan broadly stable, the country’s central bank said, according to a report by Financial News, a newspaper backed by the People’s Bank of China. A senior official from the central bank’s monetary policy department said China’s…

Tax info sharing to spur platform economy

China’s efforts to regulate the submission of tax-related information by internet platform companies will standardize tax reporting practices among these enterprises both at home and abroad, and boost the sound and regulated development of the platform economy, experts said. US tech company Amazon has announced that it will begin reporting information about China-based sellers to…

China-US economic, trade talks to be held in Malaysia

China and the United States will engage in a fresh round of trade talks later this week in Malaysia, in a bid to de-escalate tensions that have been simmering for weeks between the world’s two largest economies. Analysts said that Washington’s recent moves — calling for talks while exerting pressure on Beijing — do not…

PPI decline eases for 2nd consecutive month in Sept

China’s factory-gate prices saw a narrow decline in September, while consumer prices fell slightly, official data showed on Wednesday. China’s producer price index – which measures factory-gate prices – fell 2.3 percent year-on-year in September, easing from a 2.9 percent drop in August, marking the second consecutive month of improvement, according to the National Bureau…

China’s PPI down 2.3% in September

BEIJING — China’s producer price index (PPI), which measures costs for goods at the factory gate, went down 2.3 percent year-on-year in September, the National Bureau of Statistics (NBS) said Wednesday. The decline narrowed by 0.6 percentage points from the previous month, suggesting an improvement in industrial demand amid government efforts to bolster economic growth.…

China, EU show willingness to manage differences through dialogue

A forklift operator moves a container on the China-Europe Railway Express service in Ganzhou, Jiangxi province, in August. ZHU HAIPENG/FOR CHINA DAILY A healthy and balanced China-European Union economic and trade relationship is in the long-term interests of both sides, allowing their businesses to grow together, draw on each other’s strengths and better withstand the…

China’s yuan loans grow 14.75t yuan in first 9 months

BEIJING — China’s yuan-denominated loans rose 14.75 trillion yuan (about $2.08 trillion) in the first nine months of the year, central bank data showed on Wednesday. Of the total, household loans grew 1.1 trillion yuan, and loans to enterprises and public institutions increased by 13.44 trillion yuan, according to the People’s Bank of China. Outstanding…

China-BRI partner nations’ food trade to grow

Senior government officials from more than 20 partner countries participating in the Belt and Road Initiative said they will step up cooperation with China in agricultural trade and food safety, aiming to strengthen economic ties and build more resilient supply chains among partner economies. Gathering in Shanghai on Wednesday for a BRI conference on food-safety…

China urges EU to stop listing Chinese firms in Russian sanctions

China has urged the European Union to immediately stop including Chinese companies in its 19th package of sanctions against Russia, according to the Ministry of Commerce. A ministry spokesperson said in a statement on late Thursday that despite China’s repeated consultations and efforts to dissuade the bloc, the EU has once again placed Chinese companies…