China’s foreign exchange reserves fell less than expected in February as the RMB weakened on fears over the fast spreading coronavirus epidemic and its severe impact on economic activity, reported Reuters. The country’s foreign exchange reserves – the world’s largest – fell $8.779 billion in February to $3.107 trillion, central bank data showed on Saturday. […]
Category: Health Care
China’s exports plummeted in the first two months of the year as the coronavirus outbreak disrupted global supply chains, damped business activity and blocked transport across the world’s second-largest economy, reported the Financial Times. China’s overall exports contracted by 17.2% in dollar terms in January and February, more than was expected by economists polled by […]
The projections as to the impact of this virus on China’s economy are looking progressively less rosy. There will of course be an announced GDP number, and then there will be reality beyond that. But it is going to be hard for the markets to credit a number above … 3%? Not sure what is […]
Chinese stocks hit a two-year high on Thursday as investors anticipated a fresh stimulus push from the People’s Bank of China, and in a front-page commentary earlier this week the official China Securities Journal noted that the surprise decision to reduce US interest rates by half a percentage point had “opened a window” for the PBoC to […]
China National Petroleum Corp.invoked force majeure on all natural gas imports, according to Caixin sources, the second Chinese buyer to refuse shipments in a sign that global commodity flows may face sustained impact from the coronavirus epidemic, reported Caixin. CNPC, the parent of PetroChina Co., took the extreme step after initially working with sellers to reschedule […]