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U.S. stocks finished lower on Friday after the world's largest economy released a disastrous employment report for March amid the COVID-19 pandemic.
China is ramping up financial support for the domestic economy, including a cut in banks' required reserves, officials said on Friday. Also, targeted measures in issuing bonds and injecting liquidity will help bail out the corporate sector with the global spread of the novel coronavirus.
China's central bank on Friday announced a decision to cut the reserve requirement ratio (RRR) for small and medium-sized banks by 100 basis points in its latest effort to bolster the real economy amid the novel coronavirus outbreak.
Chinese securities regulator said Friday that it pays close attention to and strongly condemns the accounting fraud by Luckin Coffee Inc., a coffee chain retailer.
The U.S. Congressional Budget Office (CBO) estimates that second-quarter GDP will decline by more than 7 percent in the second quarter due to continued disruption of commerce amid COVID-19 pandemic, according to a statement released Thursday.
Foreign-funded firms in China have quickened their pace in resuming production and operation weighed down by the COVID-19 outbreak, a commerce ministry official said Friday.
According to a recent report from Global Trade Alert, over 20 countries have taken steps to ban or limit the export of medical equipment and medicines amid the COVID-19 pandemic, indicating growing protectionism across the globe at a critical time.
As protectionism and anti-globalization sentiments grow during the COVID-19 pandemic, economists have warned the danger of trade restrictions, saying that such measures would hamper the global efforts to fight the crisis.
Luckin Coffee announced on Thursday that it had about 2.2 billion yuan ($310 million) in fabricated transactions.
Shares of Chinese coffee chain retailer Luckin Coffee plunged more than 75 percent on Thursday after the company formed a special committee to oversee an internal investigation into allegations of "misconduct, including fabricating certain transactions."
China on Thursday released another 20,000 tonnes of pork from its central reserves to increase market supply, according to the Ministry of Commerce.
Chinese pharmaceutical and healthcare companies are seeing an increasingly stronger presence in the global market with effective strategies, reflected by more new drug registrations abroad, diversified international mergers and acquisitions and product licensing progress.
The livestreaming industry in China had a surreal night on Wednesday night when two top Chinese internet influencers went head to head.
Chinese entrepreneur Luo Yonghao struck gold after selling premium products worth 110 million yuan ($15 million) in his livestreamed e-commerce debut on Wednesday, sources said.
China has seen rapid growth in copyright registrations over the past few years due to the country's intensified efforts in intellectual property protection and people's increasing awareness to guarantee their works, IP experts said.
Chinese firms, especially those involved in agriculture, daily necessities and high-end manufacturing, are stepping up investment at home to further bolster the country's economic growth, experts said.
Postal and logistics firms are resuming operations in Central China's Hubei province, the region hit hardest by the novel coronavirus outbreak, experts said.
Boeing is initiating a voluntary layoff (VLO) plan to try to stem the financial strain from the COVID-19 pandemic, Dave Calhoun, the company's president and CEO, said in a letter to employees on Thursday.
The National Internet Finance Association of China (NIFA), a self-disciplinary industrial body, on Thursday alerted the market to risks in overseas initial coin offerings (ICOs) and virtual currency trading.
JD Daojia will offer coupons with a total value of more than 250 million yuan ($35.2 million) to consumers of more than 700 cities and counties nationwide during its fifth anniversary shopping festival held from April 5 to April 16.
The average yield for China's enterprise annuity funds stood at 8.3 percent last year, with the aggregate investment return reaching 125.8 billion yuan (17.7 billion U.S. dollars), Shanghai Securities News reported Thursday.
China's international flights have now been limited to no more than 134 per week in an effort to effectively sever increasing numbers of imported infections while meeting the needs of overseas Chinese nationals especially overseas students for coming back home.
Disinfectants, hand sanitizers, bathroom cleaners as well as alcohol-based gels and wipes have all seen a surge in sales after initially facing domestic supply shortages in the early stages of the outbreak.
Top executives of China's four largest State-owned commercial lenders have reiterated that the country's economic fundamentals remained sound, while the overall asset quality of lenders has seen only a limited impact from the novel coronavirus epidemic.
Major snack food retailers in Wuhan, Hubei province, the hardest-hit area in the COVID-19 epidemic in China, have come back to life.
Some Chinese parents are paying tens of thousands of dollars for private jets to get their children out of the U.S. and back to China because of the coronavirus pandemic.
Oil and gas industry reforms at the China (Zhejiang) Pilot Free Trade Zone will enable the market to have a more decisive say in the operating efficiency and competitiveness of the sectors.
WiMi Hologram Cloud Inc., a leading holographic augmented reality (AR) application platform in China, started trading on Nasdaq Wednesday.
The global economy could shrink by up to 1 percent in 2020 due to the COVID-19 pandemic, and may contract even further if restrictions on economic activities are extended without adequate fiscal responses, according to analysis released Wednesday by the UN Department of Economic and Social Affairs (UN-DESA).
China's decision to extend subsidies for new energy vehicles to 2022 will help invigorate the fledgling sector that has started to slow down since the second half of last year, analysts and carmakers said on Wednesday.
