Profits at industrial firms in China declined 22.9% in the first two months of 2023 from the year before, official data showed on Monday, as the factory sector struggles to claw its way out of the slump caused by COVID-related disruptions.
China and the United States need to manage economic competition and strengthen cooperation, Ahmed Saeed, vice-president of the Asian Development Bank, said at a China Development Forum in Beijing on Sunday.
China's economic development faces challenges and it is implementing effective solutions to solve them, the head of the state planner said on Sunday. China will strengthen coordination of fiscal, monetary, employment, industrial, consumption and other policies, Zheng Shanjie, head of the National Development and Reform Commission, said at a China Development Forum in Beijing.
Brazilian President Luiz Inacio Lula da Silva has been diagnosed with mild pneumonia and will delay a planned trip to China by a day, leaving on Sunday, the presidential palace and his doctor said. Lula's physician, Dr. Roberto Kalil, told Reuters that the president is in good health after undergoing hospital tests on Thursday night and is responding well to antibiotics.
Falling prices have sparked a flurry of Chinese purchases of U.S. corn, as the world's top buyer of the grain scrambles to make up for a slow start to its import program, traders and analysts said. The latest deal, announced by the U.S. Department of Agriculture on Friday, saw China buying 204,000 tonnes of American corn, its eighth confirmed purchase in the past nine business days.
China's banking regulator said on Friday it had made remarkable progress in improving corporate governance and risk management in the banking sector, at a time when a banking crisis in the U.S. and Europe is stirring contagion fears.
By Eric Onstad. Nickel shot up on Friday after inventories in China tumbled, while some speculators took advantage of the metal's recent low price and others scrambled to cover bearish positions.
Emerging market stocks were subdued on Friday amid U.S.-China tensions and as concerns about the banking sector persisted, after three straight sessions of gains that positioned the main index for its best weekly performance in two months.
* China shares ease on geopolitical concerns, Nikkei slid. * U.S. yields largely steady, heading lower for third week. * Yen, euro post strong weekly gains; dollar near 7-week low. * Markets price in aggressive rate cuts from Fed. By Stella Qiu.
* Corn higher on continued Chinese demand. * Markets digest Fed statement, U.S. export data. * Soybeans pressured by Brazil crop, spillover from wheat. By Cassandra Garrison. MEXICO CITY, March 23 - Chicago corn edged higher on Thursday, buoyed by another flash sale to China, while soybeans dipped on continued pressure from Brazil's ongoing harvest, analysts said.
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