The financial regulator of China's Wuhan city publicly exposed 259 firms with debt to the government and urged them to immediately pay up, local media reported on Saturday. The rare action from Wuhan's finance bureau on Friday comes as local governments in China become increasingly pressed by higher debt and expenses.
China and South Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, China's commerce minister said. Wang Wentao met with South Korean Trade Minister Ahn Duk-geun on the sidelines of the Asia-Pacific Economic Cooperation conference in Detroit, which ended on Friday.
China and South Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, China's commerce minister said. Wang Wentao met with South Korean Trade Minister Ahn Duk-geun on the sidelines of the Asia-Pacific Economic Cooperation conference in Detroit, which ended on Friday.
Economic and trade development in the Asia-Pacific still faces many disturbances and challenges, China's commerce minister Wang Wentao said. Wang made the comments at the Asia-Pacific Economic Cooperation conference in Detroit, where he met with several leaders and exchanged views on multilateral and bilateral economic and trade issues amid wider global trade rifts and uncertainties.
Profits at China's industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. Profits fell 20.6% in January-April from a year earlier, compared with a 21.4% decline in the first three months, according to data from the National Bureau of Statistics.
U.S. Trade Representative Katherine Tai raised complaints about China's state-led economic policies during a meeting with Chinese Commerce Minister Wang Wentao on Friday, but emphasized the need for the two countries to continue engagement, her office said.
STOCKS: The benchmark BSE Sensex rose 629.07 points, or 1.02%, to 62,501.69, while the broader NSE index gained 178.2 points, or 0.97%, to 18,499.35, led by information technology stocks and a jump in Reliance Industries, the country's biggest company by market capitalisation.
Copper prices rose on Friday but remained on track for a sixth consecutive weekly loss amid lacklustre demand from top metals consumer China and other markets. Benchmark copper on the London Metal Exchange was up 2.5% at $8,159.50 a tonne at 1630 GMT - its biggest one-day rise since January - but still down more than 1% from last Friday's close.
STOCKS: The benchmark BSE Sensex rose 623.17 points, or 1.01%, to 62,495.79, while the broader NSE index gained 180.25 points, or 0.98%, to 18,501.4, led by information technology stocks and a jump in Reliance Industries, the country's biggest company by market capitalisation.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required