Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course

Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017. By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago. Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy. During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. t


Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017.
By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago.
Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy.
During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. t
Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, rate, western, trade, permanent, collision, chinese, uschina, beijing, strategic, washington, tenuous, surplus, course, china, american, deal, comes, remain, chinas


Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course

Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017.

By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago.

Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy. During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. to 16.2%.

Feverish sinologists would call that “decoupling” — a misnomer for China’s belated exit from a position of an excessive and unsustainable trade surplus with the U.S.

Those sinologists don’t seem to notice that China is getting out of that self-imposed structural trap by aggressively slashing its U.S. purchases at an annual rate of 12% between January and November of last year.

Instead of worrying about “decoupling,” advocates of friendly U.S.-China ties should remind Beijing that it should be doing exactly the opposite — by drastically stepping up imports of American goods and services. If the Chinese did that, they would not have to abandon their U.S. markets by cutting exports at an annual rate of 15.2%, as they did for nearly all of last year.

So, the question is: Who is in a hurry to “decouple?”

Looking at trade flows and China’s declining holdings of U.S. debt, the Chinese have apparently concluded that a rapid narrowing of U.S. exposure was a matter of their national interest.

That conclusion has come after years of pleading for a “win-win cooperation,” while Washington kept trying to contain China’s growing global economic and political influence. Instead of cooperation, the U.S. defined its relationship with China as a strategic competition with a country seeking to destroy the Western (i.e., American) world order.

Cooperation made sense for China because it meant an open access to U.S. markets and technology transfers. The U.S., however, finally began to see things differently as it woke up from its evanescing dream that an increasingly prosperous China would shake off its communist rule and join the U.S.-led Western community.

What followed was a radical U.S. policy change Beijing apparently did not expect. China’s huge, and growing, American trade surpluses became an imminent strategic danger that had to be fought by tariffs, sanctions and strict limits to Chinese investments in the U.S. economy.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, rate, western, trade, permanent, collision, chinese, uschina, beijing, strategic, washington, tenuous, surplus, course, china, american, deal, comes, remain, chinas


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There’s a 50% chance the US-China ‘phase one’ deal could fall apart in one year

There’s a 50% chance the U.S.-China “phase one” trade deal could survive its first year — but that probability falls to 25% in the second year, a business consultant said on Monday. Richard Martin, managing director at management consulting firm IMA Asia, said there are two reasons why the agreement could fall apart within those time frames: Limited success stories of government-mandated trade in the past, and provisions that allow the U.S. and China to walk away from their deal. “There’s a very


There’s a 50% chance the U.S.-China “phase one” trade deal could survive its first year — but that probability falls to 25% in the second year, a business consultant said on Monday.
Richard Martin, managing director at management consulting firm IMA Asia, said there are two reasons why the agreement could fall apart within those time frames: Limited success stories of government-mandated trade in the past, and provisions that allow the U.S. and China to walk away from their deal.
“There’s a very
There’s a 50% chance the US-China ‘phase one’ deal could fall apart in one year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: yen nee lee
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There's a 50% chance the US-China 'phase one' deal could fall apart in one year

President Donald Trump, and Chinas Vice Premier Liu He(L), the countrys top trade negotiator, shake hands after signing trade agreements between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.

There’s a 50% chance the U.S.-China “phase one” trade deal could survive its first year — but that probability falls to 25% in the second year, a business consultant said on Monday.

Richard Martin, managing director at management consulting firm IMA Asia, said there are two reasons why the agreement could fall apart within those time frames: Limited success stories of government-mandated trade in the past, and provisions that allow the U.S. and China to walk away from their deal.

“There’s a very poor track record on government-mandated trade flows working out and that’s what we got right now,” he told CNBC’s “Squawk Box Asia.”

“We don’t like governments to go out and say this is the volume of trade and this is the price point we want done at — that’s meant to be said at the markets,” he said.

Martin added that if there are disputes between the two sides, the deal allows the U.S. Trade Representative, currently Robert Lighthizer, to “pretty much determine when China’s breaking the rules and inflict any penalty he wants.” In return, China could walk away from the agreement, he explained.

“So that’s not a very robust adjudication process. It says that if there’s a problem, it could well end in the phase one package being dead,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: yen nee lee
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China says its economy grew 6.1% in 2019, in line with expectations

Still, China’s GDP growth last year was the slowest since 1990, according to Reuters records. Analysts polled by Reuters had expected China’s economy to have grown 6.1% in 2019, compared with 6.6% in 2018. China said Friday its economy grew by 6.1% in 2019, meeting expectations even amid a trade dispute with the U.S.China’s GDP grew 6.0% on-year in the fourth quarter of 2019, according to the National Bureau of Statistics. Analysts polled by Reuters forecast China’s economy to have grown 6.0% in


Still, China’s GDP growth last year was the slowest since 1990, according to Reuters records.
Analysts polled by Reuters had expected China’s economy to have grown 6.1% in 2019, compared with 6.6% in 2018.
China said Friday its economy grew by 6.1% in 2019, meeting expectations even amid a trade dispute with the U.S.China’s GDP grew 6.0% on-year in the fourth quarter of 2019, according to the National Bureau of Statistics.
Analysts polled by Reuters forecast China’s economy to have grown 6.0% in
China says its economy grew 6.1% in 2019, in line with expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: huileng tan
Keywords: news, cnbc, companies, grew, quarter, line, expectations, economy, growth, chinas, china, deal, gdp, grown, 2019, trade


China says its economy grew 6.1% in 2019, in line with expectations

China’s President Xi Jinping raises a toast to celebrate the 70th anniversary of the People’s Republic of China at the Great Hall of the People in Beijing.

Beijing’s official growth target for 2019 was 6% to 6.5%, but Chinese Vice Premier Liu He said on Wednesday that GDP growth in 2019 was estimated to have grown more than 6%, Reuters reported.

Although Beijing’s official GDP figures are tracked as an indicator of the health of the world’s second-largest economy, many outside experts have long expressed skepticism about the veracity of China’s reports.

Still, China’s GDP growth last year was the slowest since 1990, according to Reuters records.

Analysts polled by Reuters had expected China’s economy to have grown 6.1% in 2019, compared with 6.6% in 2018.

China said Friday its economy grew by 6.1% in 2019, meeting expectations even amid a trade dispute with the U.S.

China’s GDP grew 6.0% on-year in the fourth quarter of 2019, according to the National Bureau of Statistics. Analysts polled by Reuters forecast China’s economy to have grown 6.0% in the October to December period of 2019.

In the third quarter of 2019, GDP growth in the world’s second largest economy was 6% — the slowest pace since the first quarter of 1992, according to Reuters records.

The data came after President Donald Trump signed a partial trade deal with China on Wednesday after a prolonged trade fight between the U.S. and China for almost two years.

Other Chinese economic data released alongside the GDP numbers showed growth in industrial output and retail sales for the month of December.

Analysts read the data from Beijing positively, although there was still some caution about the partial trade deal with the U.S.

“The uncertainties faced by corporates are diminishing along with the progress in US-China trade negotiation since December,” said Chaoping Zhu, global market strategist at JP Morgan Asset Management.

“Although the US government maintained most of the tariffs on Chinese products, the signing of the phase-one trade deal is a signal that the situation is unlikely to deteriorate. Against this background, corporate confidence keeps improving in the recent months,” Zhu added.

Tom Rafferty, principal China economist at The Economist Intelligence Unit said he expected China’s growth to hold around 6% through 2020 as Beijing continues to stimulate the economy.

“While businesses and investors can afford to breath a sign of relief, after a difficult 2019, we still see risks to the China outlook as mainly weighted to the downside, given the fragile nature of the trade truce and the risks that still stalk China’s financial markets,” Rafferty added.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: huileng tan
Keywords: news, cnbc, companies, grew, quarter, line, expectations, economy, growth, chinas, china, deal, gdp, grown, 2019, trade


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China’s vice premier is upbeat about the economy, estimates growth of more than 6% in 2019

US President Donald Trump, shakes hands during a press conference with Chinas Vice Premier Liu He(L), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020. China’s Vice Premier Liu He said on Thursday that China’s 2019 GDP is estimated to grow more than 6%, according to Chinese state news agency Xinhua News. Liu added that data for this month points to a better-th


US President Donald Trump, shakes hands during a press conference with Chinas Vice Premier Liu He(L), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.
China’s Vice Premier Liu He said on Thursday that China’s 2019 GDP is estimated to grow more than 6%, according to Chinese state news agency Xinhua News.
Liu added that data for this month points to a better-th
China’s vice premier is upbeat about the economy, estimates growth of more than 6% in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: grace shao christine wang, grace shao, christine wang
Keywords: news, cnbc, companies, vice, premier, economy, trade, xinhua, estimates, growth, liu, president, upbeat, chinas, 2019, world, china, trump


China's vice premier is upbeat about the economy, estimates growth of more than 6% in 2019

US President Donald Trump, shakes hands during a press conference with Chinas Vice Premier Liu He(L), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.

China’s Vice Premier Liu He said on Thursday that China’s 2019 GDP is estimated to grow more than 6%, according to Chinese state news agency Xinhua News.

Liu added that data for this month points to a better-than-expected economic outlook, Xinhua reported.

It wasn’t immediately clear which data Liu was referring to.

The comments come a day after President Donald Trump signed the “phase one” trade deal with Liu, marking a temporary truce in the trade war between the world’s two largest economies.

During the signing ceremony, Liu delivered a message from Chinese President Xi Jinping, who said the agreement is “good for China, for the U.S. and for the whole world,” according to a translation.

In his own remarks, Liu said China’s economy is “transitioning from high-speed growth to high-quality development.”

He also said “China will continue to enhance the legal environment” and “welcomes investors from around the world,” as the country continues to open up.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: grace shao christine wang, grace shao, christine wang
Keywords: news, cnbc, companies, vice, premier, economy, trade, xinhua, estimates, growth, liu, president, upbeat, chinas, 2019, world, china, trump


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China’s ZTE plans $1.7 billion A-share sale to fund 5G research and development

ZTE said it was looking to raise 11.51 billion yuan ($1.7 billion) from a private placement of A shares, and that it plans to use the proceeds for research and development (R&D) of 5G networks as well as working capital. That represents a discount of 18.2% to ZTE’s A-share closing price of 36.92 yuan in Shenzhen on Wednesday. None of the subscribers will become a substantial shareholder upon completion of the share sale, the company said, without providing further details. “Our fundamental view


ZTE said it was looking to raise 11.51 billion yuan ($1.7 billion) from a private placement of A shares, and that it plans to use the proceeds for research and development (R&D) of 5G networks as well as working capital.
That represents a discount of 18.2% to ZTE’s A-share closing price of 36.92 yuan in Shenzhen on Wednesday.
None of the subscribers will become a substantial shareholder upon completion of the share sale, the company said, without providing further details.
“Our fundamental view
China’s ZTE plans $1.7 billion A-share sale to fund 5G research and development Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, zte, price, shares, ashare, investors, billion, share, stock, sale, period, confidence, development, plans, chinas, fund, research, yuan


China's ZTE plans $1.7 billion A-share sale to fund 5G research and development

The ZTE logo is seen on an office building in Shanghai on May 3, 2018.

ZTE said it was looking to raise 11.51 billion yuan ($1.7 billion) from a private placement of A shares, and that it plans to use the proceeds for research and development (R&D) of 5G networks as well as working capital.

The Chinese telecom equipment maker said on Thursday it planned to issue 381.098 million A shares, or 8.27% of the total issued share capital on completion of the deal, to independent third party investors at 30.21 yuan apiece.

That represents a discount of 18.2% to ZTE’s A-share closing price of 36.92 yuan in Shenzhen on Wednesday.

The A shares, which are subject to a lock-up period of 12 months from the date of listing, will be issued to 10 independent professional or institutional investors in China.

None of the subscribers will become a substantial shareholder upon completion of the share sale, the company said, without providing further details.

The company had not responded to an email request for comment on details and identity of the investors.

“We believe the successful fund raising will remove a key overhang for the stock, and would give investors more confidence in ZTE’s R&D efforts and thus potential share gain in 5G,” brokerage Jefferies said in a research note.

“Our fundamental view remains negative, but near-term stock price could have support,” Jefferies said, adding it worried about margin pressure and market share pressure on 5G.

ZTE’s Shenzhen-listed shares rose as much as 4% to 38.10 yuan in early trade. Hong Kong-listed stock briefly rose 3.7% to HK$28.05, the highest since March 2018.

“It is because of the lock up period which give investors confidence of a stable stock price during the period, and that support the shares from advancing despite the discount,” said Steven Leung, a sales director at UOB Kay Hian in Hong Kong.

“Its a vote of confidence to the prospect of 5G and related companies,” Leung added.

ZTE said the deal will enable it to maintain its high level of investment in R&D, ensure its technological competitive edge, develop its main products and businesses, as well as help increase its market share in the mainstream markets.


Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, zte, price, shares, ashare, investors, billion, share, stock, sale, period, confidence, development, plans, chinas, fund, research, yuan


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China’s December home price growth hits slowest annual pace in almost 1-1/2 years

China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy. It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018. With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market. There has been some signs of improvement in demand and prices across the sector si


China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.
It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018.
With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market.
There has been some signs of improvement in demand and prices across the sector si
China’s December home price growth hits slowest annual pace in almost 1-1/2 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
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China's December home price growth hits slowest annual pace in almost 1-1/2 years

Buildings and skyscrapers in Jing’an district on October 18, 2018 in Shanghai, China.

China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.

Average new home prices in China’s 70 major cities rose 6.6% in December, slowing from a 7.1% gain in the previous month, Reuters calculation based on National Bureau of Statistics (NBS) data on Thursday.

It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018.

Price trends have been mixed lately, as authorities try to reduce frothiness in some cities and relax rules in others in an effort to foster stability in a sector seen as a pillar of the world’s second-biggest economy.

Many analysts are forecasting a further slowdown in the market.

“The market has hit a turning point,” said Zhang Dawei, a Beijing-based analyst with property agency Centaline.

Zhang said the NBS data did not fully reflect the downturn in some markets, including in the Chinese capital Beijing, where inventory is at a multi-year high.

“In a downward cycle, most cities’ government-mandated price caps on new launches have been lifted, and that would mean even as overall demand has cooled, prices would still somehow show stronger growth on paper,” he said.

All the same, home prices still marked the 56th straight month of gains, even as China has clamped down on property speculation since 2016 to stop home prices from overheating.

With the pace of China’s economic growth slowing, policymakers are keen to avoid wholesale squashing of the property market.

There has been some signs of improvement in demand and prices across the sector since late last year as trade tensions with the United States eased.

In the latest sign of warmer ties, the world’s two largest economies signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, although a number of sore spots remained unresolved.

A Reuters poll this week showed China’s economic growth likely hovered at its weakest in nearly 30 years in the fourth quarter as demand at home and abroad remained sluggish.


Company: cnbc, Activity: cnbc, Date: 2020-01-16
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China’s central bank injects $58 billion of loans but keeps rates steady

The People’s Bank of China (PBOC) said on its website the interest rate on one-year MLF loans remained at 3.25%, unchanged from the previous operations. Separately, the PBOC also extended 100 billion yuan of 14-day reverse repos with the interest rate unchanged at 2.65%. The MLF now acts as a guide for the PBOC’s new lending benchmark Loan Prime Rate (LPR), with the monthly fixing due next Monday. “While MLF rate can serve as guidance for LPR, an adjustment in the LPR is in theory possible with


The People’s Bank of China (PBOC) said on its website the interest rate on one-year MLF loans remained at 3.25%, unchanged from the previous operations.
Separately, the PBOC also extended 100 billion yuan of 14-day reverse repos with the interest rate unchanged at 2.65%.
The MLF now acts as a guide for the PBOC’s new lending benchmark Loan Prime Rate (LPR), with the monthly fixing due next Monday.
“While MLF rate can serve as guidance for LPR, an adjustment in the LPR is in theory possible with
China’s central bank injects $58 billion of loans but keeps rates steady Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15
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China's central bank injects $58 billion of loans but keeps rates steady

China’s central bank extended fresh short- and medium-term loans on Wednesday but kept the borrowing cost unchanged, as it seeks to maintain adequate liquidity in a slowing economy and ease a potential crunch ahead of the Lunar New Year.

The People’s Bank of China (PBOC) said on its website the interest rate on one-year MLF loans remained at 3.25%, unchanged from the previous operations. It injected 300 billion yuan ($43.51 billion) via the liquidity tool.

Separately, the PBOC also extended 100 billion yuan of 14-day reverse repos with the interest rate unchanged at 2.65%.

There is no maturing MLF loan or reverse repo on Wednesday.

In a statement, the central bank said the injection was meant to “offset impact from factors including tax payment and cash demand” and ensure that banking system liquidity was “reasonably ample” before the week-long Lunar New Year holidays kick off next Friday.

Rising cash demand from companies and households for the Lunar New Year holiday, a flood of special bond issuance by local governments and corporate quarterly tax payments have all combined to drain funds from the banking system. Some analysts expect the liquidity gap could amount to as much as 2.8 trillion yuan.

The MLF now acts as a guide for the PBOC’s new lending benchmark Loan Prime Rate (LPR), with the monthly fixing due next Monday.

“While MLF rate can serve as guidance for LPR, an adjustment in the LPR is in theory possible with or without an MLF rate cut,” said Frances Cheung, head of macro strategy for Asia at Westpac in Singapore.

“We continue to see each monthly LPR reset as presenting an opportunity for a baby-step 5 basis point cut. We expect more open market operations injections in the next few days. Market reaction should be muted as liquidity injections have been expected to cover demand.”

The LPR is a lending reference rate set monthly by 18 banks. The PBOC revamped the mechanism to price LPR last August. Since then, the one-year LPR has been lowered by a total of 10 basis points in an attempt to lower corporate borrowing costs and support an economy partly hurt by the U.S.-China trade war.

China is expected to post its slowest economic growth in 30 years in 2020 as domestic and global demand remain sluggish, a Reuters poll showed this week, reinforcing views that Beijing will roll out more support measures.

The volume-weighted average rate of the benchmark seven-day repo traded in the interbank market, considered the best indicator of general liquidity in China, was 2.6918% as of 0223 GMT, up 0.5 basis points from the previous day’s closing average rate.


Company: cnbc, Activity: cnbc, Date: 2020-01-15
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China’s dollar-denominated exports and imports beat expectations in December

China’s dollar-denominated exports and imports were both higher in December, Reuters reported citing data from the General Administration of Customs. In December, dollar-denominated exports rose 7.6% on-year, against a 1.3% drop in November. Economists polled by Reuters had expected dollar-denominated exports to rise 3.2% on-year and imports to rise 9.6% in the same period. December trade surplus was $46.79 billion, against an expected $48 billion. In December China’s trade surplus with the U.S.


China’s dollar-denominated exports and imports were both higher in December, Reuters reported citing data from the General Administration of Customs.
In December, dollar-denominated exports rose 7.6% on-year, against a 1.3% drop in November.
Economists polled by Reuters had expected dollar-denominated exports to rise 3.2% on-year and imports to rise 9.6% in the same period.
December trade surplus was $46.79 billion, against an expected $48 billion.
In December China’s trade surplus with the U.S.
China’s dollar-denominated exports and imports beat expectations in December Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: huileng tan
Keywords: news, cnbc, companies, expectations, billion, reported, imports, beat, rise, data, dollardenominated, higher, chinas, trade, surplus, exports


China's dollar-denominated exports and imports beat expectations in December

Shipping containers sit stacked at Qingdao Port after snow on February 14, 2019 in Qingdao, Shandong Province of China.

China’s dollar-denominated exports and imports were both higher in December, Reuters reported citing data from the General Administration of Customs.

In December, dollar-denominated exports rose 7.6% on-year, against a 1.3% drop in November.

December imports were 16.3% higher than year ago, Reuters reported citing data from the Chinese customs.

Economists polled by Reuters had expected dollar-denominated exports to rise 3.2% on-year and imports to rise 9.6% in the same period.

December trade surplus was $46.79 billion, against an expected $48 billion.

The better-than-expected trade data was “more a reflection of base and price effects than of current strength,” said Julian Evans-Pritchard and Martin Rasmussen, China economists at Capital Economics, referring to higher import prices.

In December China’s trade surplus with the U.S. was $23.18 billion — down from $24.6 billion in November.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: huileng tan
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Asia stocks rise, yuan jumps amid increased trade optimism

Shares in Asia bounded higher on Tuesday as market sentiment improved ahead of the phase one trade deal signing between China and the U.S. later this week. Optimism rose further after Washington said Beijing was no longer a currency manipulator. The Shanghai composite traded down 0.28% to close at 3,106.82, and the Shenzhen composite fell 0.23% to 1,818.13. In December China’s trade surplus with the U.S. was $23.18 billion — down from $24.6 billion in November. Washington has demanded that Beiji


Shares in Asia bounded higher on Tuesday as market sentiment improved ahead of the phase one trade deal signing between China and the U.S. later this week.
Optimism rose further after Washington said Beijing was no longer a currency manipulator.
The Shanghai composite traded down 0.28% to close at 3,106.82, and the Shenzhen composite fell 0.23% to 1,818.13.
In December China’s trade surplus with the U.S. was $23.18 billion — down from $24.6 billion in November.
Washington has demanded that Beiji
Asia stocks rise, yuan jumps amid increased trade optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: weizhen tan
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Asia stocks rise, yuan jumps amid increased trade optimism

Shares in Asia bounded higher on Tuesday as market sentiment improved ahead of the phase one trade deal signing between China and the U.S. later this week. Optimism rose further after Washington said Beijing was no longer a currency manipulator.

The Nikkei 225 climbed 0.73% to close at 24,025.17 and the Topix index was up 0.31% to 1,740.53 after Japanese markets returned from a public holiday on Monday. Shares of technology conglomerate Softbank surged 3.51%.

In South Korea, the Kospi gained 0.43% to close at 2,238.88.

Australia’s S&P/ASX 200 jumped 0.85% as major miners gained. Fortescue Metals and Rio Tinto both jumped 1.85%, and BHP Group rose 1.32%.

Chinese markets were the outliers during Tuesday’s session. The Shanghai composite traded down 0.28% to close at 3,106.82, and the Shenzhen composite fell 0.23% to 1,818.13. The Shenzhen component lost 0.47% to close at 10,988.77.

Hong Kong’s Hang Seng index declined 0.28% during the last hour of trade.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.18% by Tuesday afternoon.

China’s dollar-denominated imports from the U.S. rebounded in November and December, Reuters reported citing data from China’s customs released on Tuesday. It was the first time that its exports went up since March last year.

In December China’s trade surplus with the U.S. was $23.18 billion — down from $24.6 billion in November.

In particular, China’s soybean and pork imports from the U.S. significantly rebounded in December. Washington has demanded that Beijing buys more agricultural goods from the U.S. as part of their phase on trade deal — the signing of that agreement is set to happen on Wednesday in Washington. The deal is also expected to involve some rollback of tariffs.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: weizhen tan
Keywords: news, cnbc, companies, washington, rose, optimism, amid, deal, stocks, shares, index, increased, asia, yuan, jumps, close, signing, trade, chinas, shenzhen, rise


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Senators propose pumping over $1 billion into 5G alternatives to China’s Huawei

Sen. Mark Warner (D-VA) Drew Angerer | Getty ImagesA bipartisan group of senators introduced legislation Tuesday that would pump more than $1 billion into developing Western 5G equipment alternatives to China’s Huawei. The U.S. has long held national security concerns and suspicions about Huawei’s ties to the country’s Communist Party leadership. Last year, it placed the company on a blacklist prohibiting U.S. companies from doing business with the firm without a special license. The fund would


Sen. Mark Warner (D-VA) Drew Angerer | Getty ImagesA bipartisan group of senators introduced legislation Tuesday that would pump more than $1 billion into developing Western 5G equipment alternatives to China’s Huawei.
The U.S. has long held national security concerns and suspicions about Huawei’s ties to the country’s Communist Party leadership.
Last year, it placed the company on a blacklist prohibiting U.S. companies from doing business with the firm without a special license.
The fund would
Senators propose pumping over $1 billion into 5G alternatives to China’s Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: lauren feiner
Keywords: news, cnbc, companies, chinas, million, propose, alternatives, huawei, billion, sen, western, senators, pumping, national, multilateral, bill, telecommunications, security, fund


Senators propose pumping over $1 billion into 5G alternatives to China's Huawei

Sen. Mark Warner (D-VA) Drew Angerer | Getty Images

A bipartisan group of senators introduced legislation Tuesday that would pump more than $1 billion into developing Western 5G equipment alternatives to China’s Huawei. Reasoning that Huawei has been “h]eavily subsidized by the Chinese government,” the Utilizing Strategic Allied (USA) Telecommunications Act would help Western firms compete and become a robust player in next generation communication technology, according to a press release sent by the office of Sen. Mark Warker, D-Va., a co-sponsor of the bill. The U.S. has long held national security concerns and suspicions about Huawei’s ties to the country’s Communist Party leadership. Last year, it placed the company on a blacklist prohibiting U.S. companies from doing business with the firm without a special license. The bill proposes that the Federal Communications Commission direct at least $750 million or up to 5% of annual auction proceeds from new auctioned spectrum licenses to create an open-architecture model (O-RAN) research and development fund. The fund would be managed by the National Telecommunications and Information Administration (NTIA) with input from other agencies.

Another $500 million would become a Multilateral Telecommunications Security Fund, which would be available for 10 years “to accelerate the adoption of trusted and secure equipment globally and to encourage multilateral participation.” The fund would be created in conjunction with foreign partners and would require reports to Congress on how the money was being used. The bill would also encourage the U.S. to further its leadership in International Standard Setting Bodies to help set guidelines on telecommunications and work to make Huawei alternatives more affordable through various policies.

A bipartisan effort


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: lauren feiner
Keywords: news, cnbc, companies, chinas, million, propose, alternatives, huawei, billion, sen, western, senators, pumping, national, multilateral, bill, telecommunications, security, fund


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