Home 

State energy giant PetroChina reports 130 per cent increase in net profit, eyes energy cooperation with US

PetroChina, the country’s largest oil and gas producer, will seek deeper ties with energy producers in the United States, with the hope of playing a key role in helping the two countries resolve their trade war, its president said on Thursday.Hou Qijun highlighted the countries’ complementary roles in an energy market of the future, with China’s drive against air pollution continuing to boost demand for natural gas, and the US’s emergence as a gas export powerhouse in a few years’ time.“Through… Source link

Read More
China 

China will not ‘discriminate’ between state and private companies, vows Premier Li Keqiang

China will not “discriminate” between state owned and private companies, with Premier Li Keqiang vowing to roll out a series of measures to alleviate some of the burdens felt by the private sector including lowering the cost of financing.“We will ensure all companies benefit from our administrative streamlining measures. There should be no discrimination,” Li said at the conclusion of the National People’s Congress (NPC) in Beijing on Friday.“Through years of efforts, we have cut the time… Source link

Read More
Vietnam 

Western Digital unveils new solid state drive for gamers – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Western Digital unveils its new WD Black SN750 NVMe SSD in HCM City on Thursday. – VNS Photo Thu Ngân Viet Nam News HCM CITY — Technology company Western Digital Corp said it has pushed the boundaries of storage to give gamers a competitive edge. It launched a solid state drive called new WD Black SN750 NVMe SSD in HCM City on Thursday, saying demand from gamers has increased sharply in Việt Nam since, in addition to playing, they also often record, take videos or stream. Advancements…

Read More
Vietnam 

State to explore fee cuts for shipping companies – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Việt Nam Maritime Administration has requested that associations, seaport companies and shipping companies be exempted or allowed to pay reduced service fees for containers stored at seaports for a long time.— Photo tapchitaichinh.vn HÀ NỘI — The Việt Nam Maritime Administration has requested that associations, seaport companies and shipping companies be exempted or allowed to pay reduced service fees for containers stored at seaports for a long time. The proposal was laid out in…

Read More
Home 

China transfers US$4.7 billion of PICC shares to state pension fund, part of a programme to shift assets to make up for shortfall

Elderly Chinese at a park in Beijing on November 3, 2006. China faces problems in caring for its rapidly increasing elderly population. The number of rural residents aged over 60 is increasing by 850,000 annually and is expected to hit 120 million in 20 years, according to China’s Xinhua News Agency. Photo: AP Source link

Read More
China 

US demanding level playing field in China, but can Beijing rein in state subsidies to end trade war?

US President Donald Trump has delayed the application of additional tariffs on Chinese imports citing “substantial progress” in addressing the US demands for structural reform in the Chinese economy. This is the fourth article in a five-part series looking into these demands, which are the conditions for ending the trade war.1. The US demand: end to state subsidies and a level playing fieldCurbing China’s massive subsidies offered to domestic firms has long been a priority of United States… Source link

Read More
Global 

‘China’s economy reached new heights’: How the slowdown is being reported by Chinese state media

China’s economic slowdown is headline news around the world, with readers intrigued by the ongoing trade war with the United States. But how is it being reported in China’s state media? Gross domestic product (GDP) Why it is important: This is the headline figure generally viewed as a barometer for the overall health of an economy. It is commonly described as “economic growth”. The fact: China’s economy grew at 6.6 per cent in 2018, the slowest growth rate since 1990. It slowed from 6.9 per cent in 2017. How was…

Read More
Vietnam 

State Treasury raises nearly $265m via G-bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Some VNĐ5.5 trillion worth of G-bonds were offered in the Government bond auctions on Wednesday. — Photo vietnambiz.vn Viet Nam News HÀ NỘI — The State Treasury of Việt Nam mobilised nearly VNĐ6.2 trillion (US$265 million) through Government bond auctions on the Hà Nội Stock Exchange (HNX) on Wednesday. Some VNĐ5.5 trillion worth of G-bonds were offered, including seven-year bonds valued at VNĐ2 trillion; 15-year bonds valued at VNĐ3 trillion and 30-year bonds valued at VNĐ500 billion. The State Treasury raised VNĐ1.3 trillion worth of seven-year bonds with average yield rate of…

Read More
China 

‘I suggest that we must pick our battles,’ celebrated Chinese state banker warned Beijing against trade war

The former head of a Chinese policy bank pleaded for China not to engage in a tit-for-tat trade war with the United States, a newly-published speech from last September shows. The speech by Li Ruogu, the former president of the Export and Import Bank of China (China Exim), a giant state-owned lender that gives loans to foreign companies to purchase Chinese goods or services, sheds new light on the internal struggle in Beijing over how to manage the trade dispute with Washington. “When the weak side is fighting a war…

Read More
China 

Chinese pro-market economist Wu Jinglian warns of ‘state capitalism’ dangers

An influential Chinese pro-market economist has warned of the dangers of “state capitalism”, joining a chorus of liberals who say state intrusion is eroding confidence in the country’s economic future. Wu Jinglian, who turns 89 this month, made the remarks in a video message delivered at a seminar in Beijing last week, hosted by liberal private think tank the Hongfan Institute of Legal and Economic Studies. He said pursuing state control of the economy could easily lead to “crony capitalism” and bring back memories of the 1950s, when private assets…

Read More