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South China Morning Post

China-Australia relations: coal, cotton curbs could violate trade rules, lawyers say

[unable to retrieve full-text content]China’s informal verbal prohibitions on Australian imports of coal and cotton could breach rules set out by the World Trade Organization (WTO), as well as the free trade deal between the two nations, according to trade lawyers.Directing state-owned enterprises not to trade with Australian suppliers is viewed as a de facto barrier to trade, and contravenes WTO trading rules that stop members from discriminating trade with any country.The moves...

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China’s economic rebound shows upside to ‘stringent lockdowns, testing, tracking’, analysts say

[unable to retrieve full-text content]Powered by an early and severely enforced spate of lockdowns, nationwide test-and-trace campaigns, and a huge domestic market that has finally started to deliver a rebound in consumption, China’s economic recovery from the coronavirus pandemic continued in the third quarter – albeit at a slower pace than economists had expected.The economy expanded by 4.9 per cent between July and September, compared with a year earlier, driven by an uptick in...

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China’s uneven coronavirus economic recovery stirs protest in Beijing

[unable to retrieve full-text content]A rare protest erupted in Beijing on Monday, with hundreds of parents taking to the streets of the capital to demand their money be returned after a private tutoring company collapsed in a sign of ongoing economic stress caused by the coronavirus pandemic.Some 200 people gathered outside the office of Youwin Education, where they briefly blocked a road in Beijing’s busy central business district and chanted “Return our money!”“All...

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China’s rapid GDP growth shows why coronavirus controls must trump reopening economy

[unable to retrieve full-text content]China’s economic growth acceleration in the third quarter confirmed a strong recovery in the world’s second-biggest economy when many other countries are still struggling to balance growth and coronavirus control.The 4.9 per cent gross domestic product growth rate is expected to feed a narrative that China’s way of handling the coronavirus has been effective, and that the country’s governance system is better suited to cope with...

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Global Impact newsletter: US election result crucial to US-China relations ahead

[unable to retrieve full-text content]Mixing the increasingly complex relationship with China with the US presidential election was certain to create lots of sound and fury. To be overly simplistic, it dovetails with a tried-and-true campaign strategy: blame the foreigners.Despite the election campaign hyperbole, the number of fraught issues between the US and China is increasing, meaning the results of the US election will have significant consequences for the relationship between the...

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China GDP: economy grew by 4.9 per cent in third quarter of 2020

[unable to retrieve full-text content]China’s economy grew by 4.9 per cent in the third quarter compared to a year earlier, accelerating from growth of 3.2 per cent growth in the second quarter, the National Bureau of Statistics (NBS) announced on Monday.The world’s second-largest economy has recovered strongly after shrinking by 6.8 per cent in the first three months of the year – the first official contraction since the end of the Cultural Revolution in 1976 – due to...

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US-China tech war: Beijing counters restrictions with new law to curb sensitive exports

[unable to retrieve full-text content]China’s national legislature passed a new law controlling the export of sensitive goods, services and technologies on Saturday in the latest move to counter escalating restrictions on Chinese technology companies by the United States.The new law will make it more difficult for US and Chinese tech companies to do business in each other’s countries, in particular making it more difficult for Chinese firms to operate globally, analysts said.The...

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Shenzhen given new powers to attract key foreign workers and develop new financial market tools under plans to develop role as China’s tech hub

[unable to retrieve full-text content]Shenzhen will be granted autonomy to make its own laws on artificial intelligence and big data, relax visa restrictions to attract foreign talent, and start a stock futures index under the latest plans to boost its role as tech and finance hub.The National Development and Reform Commission (NDRC) published a list of 40 specific areas in which Shenzhen could make reforms or undertake new ventures in coming years.The city has been earmarked as a model for...

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China must loosen capital curbs to boost international use of yuan, says former bank executive

[unable to retrieve full-text content]China needs to increase international use of its currency so that it can lift the yuan’s share of international payments, according to a former senior executive at one of China’s big four banks.Despite China’s growing influence in the global economy and trade, there is a “big gap” when it comes to the use of the yuan in foreign trade, investment, and financial transactions, said Wang Yongli, a former vice-president with the...

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China’s outbound shipping container volume extends October gains

[unable to retrieve full-text content]China’s outbound container shipping volume continued its upwards momentum in the second week of October, suggesting further gains in the country’s total exports in the first month of the fourth quarter.The China Containerised Freight Index stood at 1,053.8 on Friday, up 0.3 per cent from a week earlier.The index has risen steadily in the second half of the year after falling sharply due to impact of the coronavirus pandemic.China’s total...

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