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SOURCE / ECONOMY
China’s Q1 economic performance may be curbed as rising costs hit factory profits By GT staff reporters Published: Feb 23, 2021 07:13 PM
A view of Nantong Port in East China s Jiangsu Province. The port didn t stop work during the Spring Festival holidays. Chinese ports witnessed strong growth in container throughput during the past month. Photo: cnsphoto
The recent rally in world bulk commodity markets reflects the positive view of investors, as some bet a strong global economic recovery is around the corner with the massive rollout of coronavirus vaccines and an ultra-loose monetary environment.
Some industry observers worry that the robust economic recovery of China - also the world s largest consumer of global bulk commodities - in the first quarter could slow as rising material prices erode Chinese manufacturers profit margins. But it all depends on how fast global economies gain steam, so the impact on production will probably wane in the first hal
SOURCE / ECONOMY By Chi Jingyi Published: Feb 21, 2021 08:53 PM
Aerial photo taken on Aug. 5, 2020 shows the Chengdu International Railway Port in Chengdu, capital of southwest China s Sichuan Province. (Xinhua/Liu Kun)A new international agreement promoting paperless trade officially took effect on Sunday, which analysts said will further leverage advantages of China s huge market and provide broader market opportunities for all Asia-Pacific members.
The Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, a UN treaty deposited with the Secretary General of the United Nations, consists of 25 articles, mainly covering a trade facilitation policy framework, cross-border paperless trade facilitation, and cross-border mutual recognition of trade data and documentation in electronic form.
Despite wide speculation that China has not so far set a national target for GDP growth in 2021, most of China s provinces and regions have set their own targets above 6 percent this year, signaling confidence to achieve further economic rebound from the coronavirus bite in a
SOURCE / ECONOMY
Regulators likely to conduct frequent scrutiny on internet platforms By Global Times Published: Feb 07, 2021 06:35 PM
Photo: VCGThe Anti-Monopoly Committee of the State Council, China s cabinet, introduced a thorough guideline to regulate anti-monopoly practices on Sunday, encouraging business operators in the online platform economy to report any monopolistic moves. It also said that authorities will waive or mitigate penalties if the operators meet certain standards.
The committee did not identify any specific people or companies, but it said that the guideline applies to all industries and treats all types of market entities equally, and the online platform-based economy is no exception.