China’s catering industry was one of the biggest drags on output in the first quarter, leading the world’s second-largest economy into its first contraction in decades as the coronavirus brought … ( read original story…
FINANCE
China set to cut benchmark rate after first GDP contraction on record: analysts
China is widely expected to cut its benchmark lending rate on Monday to provide further support for the-hit economy, which shrank for the first time on record in the first quarter, a Reuters survey of…
The coronavirus outbreak might be nearly over in China, but economic hardship is not
China’s GDP shrank 6.8% in the first quarter of 2020, the first contraction since at least, 1992, when the country began releasing such figures. ( read original story …)
China Is Part of the ‘New Axis of Evil,’ Must Be Held Accountable for Pandemic, Senator Blackburn Says
We know they caused the COVID virus,” Blackburn said. “They did this by hiding information, by lying about what was happening. ( read original story …)
China’s half-century of unrivaled economic growth screeches to a halt
A half-century-long period of economic growth in China screeched to a halt on Friday, when Chinese officials said that the world’s second-largest economy shrank 6.8 percent in the first three months … ( read original…
Czech lawmakers call on government to look beyond China for coronavirus supplies
Czech lawmakers took aim on Friday at the government’s decision buy protective equipment from China to limit the coronavirus outbreak and called for the next batch of supplies to come domestically or … ( read…
Coronavirus economic updates: China’s economy shrinks after years of growth
But it’s a good faith step towards recovery, and I hope that you will take it as a lifeline and sign of hope.” U.S. financial markets saw early gains Friday, possibly on hopes that the…
China’s economy shrinks for the first time since records began after coronavirus outbreak
Chinese GDP fell by 6.8% in the first quarter of 2020 when compared with a year earlier, as the outbreak of COVID-19 forced officials to shutdown cities. ( read original story …)
Greentown China: Provisions And Planned Spin-Off In The Spotlight
Greentown China recognized provisions amounting to -RMB1,376 million in FY2019, which came as a negative surprise and makes investors question the quality and v … ( read original story …)
Gilead, Moderna Gain on Drug Promise; China Pledge: Virus Update
The Trump administration issued guidelines that could allow states and employers to abandon most social distancing practices within a month, sparking a rally in stocks. Widespread shutdowns have … ( read original story …)
China Market Update: Markets Look Forward Not Back, Q1 GDP Slightly Below Estimate
We knew the GDP print was going to be bad and it didn’t disappoint. Despite the headlines, markets knew this and focused on the Industrial Production release. ( read original story …)
China Vows to Support Economy; U.S. Reopening Plan: Virus Update
The Trump administration issued guidelines that could allow states and employers to abandon most social distancing practices within a month, sparking a rally in stocks. Widespread shutdowns have … ( read original story …)
Macron says ‘naive’ to say China handled coronavirus epidemic better than West: FT
PARIS (Reuters) – rejected the idea that China had handled the coronavirus outbreak better than Western democracies in an interview published in Friday’s Financial Times. The FT quoted him as saying … ( read original…
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