* Aluminium hits nine-week peak. * China bonded copper stocks rise for first time in nine weeks. * Tin touches highest since March 13. By Eric Onstad. Copper and aluminium prices climbed to their highest in more than two months on Tuesday as more signs emerged that the Chinese economy is extending its recovery from the coronavirus outbreak.
China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told British lawmakers on Tuesday. Cotton is one of several members of the U.S. Congress who have sought to put pressure on Britain to reverse its January decision to give China's Huawei a limited role in building Britain's 5G networks.
China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told British lawmakers on Tuesday. Cotton is one of several members of the U.S. Congress who have sought to put pressure on Britain to reverse its January decision to give China's Huawei Technologies a limited role in building Britian's next-generation 5G networks.
China will encourage large logistics firms to merge in order to enhance their competitiveness and capabilities, the cabinet said in a statement on Tuesday. It will also support the construction of major logistics hubs through funding such as special bonds issued by local governments, as well as encouraging banks to step up financing for logistics firms, the statement said.
China is dabbling with Western-style unconventional monetary policy, as it seeks to shore up small businesses and the labor market without fueling market bubbles. China's central bank has allocated 400 billion yuan to buy slices of unsecured loans made by regional lenders to small and micro enterprises. The move, unveiled late Monday by the People's Bank of China, prompted economists to draw comparisons with efforts like the Federal Reserve's Main Street Lending program.
China's central bank vice governor said on Tuesday the economic hit from the novel coronavirus was bigger than first expected and that more monetary and credit policy support was needed. China still has space for normal monetary policy to support the economy, Pan Gongsheng told a news conference in Beijing.
China needs to improve its monitoring for diseases of unknown causes and unusual public health incidents, said President Xi Jinping according to state television. At a roundtable with experts and scholars on Tuesday, Xi said an urgent task now is to improve the monitoring system for infectious diseases and emergency public health incidents.
* China bonded copper stocks rise for 1st time in 9 weeks. * Tin price touches highest since March 13. * Lead hits strongest in seven weeks. By Eric Onstad. Copper prices climbed to their highest in 2-1/2 months on Tuesday as more signs emerged that the economy in China, the world's biggest metals consumer, is extending its recovery from the coronavirus outbreak.
China's vehicle sales are estimated to rise 11.7% on year in May, its top auto industry body said on Tuesday, cementing hopes of a recovery in the world's biggest auto market with the first back to back monthly sales increase in about two years.
China's vehicle sales are estimated to rise 11.7% on year in May, its top auto industry body said on Tuesday, cementing hopes of a recovery in the world's biggest auto market with the first back to back monthly sales increase in about two years.
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