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Trump ups the ante in the US-China Trade War




trade alerts. China's Foreign Ministry claims that the US-led trade war has become the biggest "trust killer" for the global economy. At a regular press conference, Hua Chunying, a spokeswoman for the ministry, claimed that the United States was fabricating reasons for prosecuting trade measures and warned that countries around the world would only make their resolve harder if the US "continues to be wanton . " back. Reuters

Anbang Auction. China's Anbang Insurance plans to sell $ 10 billion to foreign real estate The insurer has been one of China's most prolific companies in recent years and has signed contracts worth $ 30 billion. Best known is that Anbang bought the Waldorf Astoria in New York for $ 1.95 billion in 2014, but this unit will not be included in future sales, and in February the government took control of Anbang for fear that this posed a major financial risk, and in May the chairman, who had overseen much of Anbang's purchases, was sentenced to 18 years in prison for fraud and embezzlement. Reuters

Economic flows. This week the Officials proposed a plan to integrate major economies in the Yangtze River Delta over the next three years s is just the last of China's integration plans: there is a similar concept for the northern areas of Beijing, Tianjin and Hebei (the Jing Jin Ji Plan), and much has been learned about the integration of the Pearl River Delta into a Greater Bay Area "includes Guangzhou, Shenzhen, Hong Kong and other major cities. Covering Shanghai and Alibaba's hometown of Hangzhou, the Yangtze Delta is one of the most productive regions in eastern China, encompassing finance, agriculture, industry and shipping. Global Times

Blocked stocks. Hong Kong missed the record-breaking IPO of Alibaba in 2014 because the stock market did not allow shares with two classes. Determined not to repeat the mistake, the HKEX began allowing shares with two classes this year, and Xiaomi was the first to take advantage of the new policy. However, Xiaomi and the HKEX suffered a blow last weekend when mainland stock exchanges said they would not allow Xiaomi to trade in Stock Connect – a program that allows mainland investors to buy Hong Kong-listed stocks from home , Class entries were unknown to mainland buyers. This was another setback for Xiaomi, who had a bumpy start, and stocks fell nearly 10% on the news. But on Wednesday of this week, HKEX representatives reached an agreement with their mainland counterparts to include two-class stocks. But Xiaomi will still have to wait. South China Morning Post


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