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BEIJING: China's efforts to resolve risks among high-risk financial institutions have been hampered by slower economic conditions caused by the outbreak of the new coronavirus, the head of a provincial branch of the central bank told Reuters.
SHANGHAI,: Chinese lenders could post flat or even falling profits in 2020 despite earnings growth in the first quarter, as the coronavirus outbreak brings difficulties to the economy, the country's central bank said in an article on Sunday.
BEIJING: Chinese President Xi Jinping said he won’t let the world’s second-largest economy return to its days as a planned economy, pushing back against U.S. criticism that the nation has failed to deliver on promised reforms.
HONG KONG/BEIJING: China's foreign ministry branch in Hong Kong dismissed concerns that its proposed national security laws for the city would harm foreign investors, hitting back at "meddling" countries as Beijing's ties with Washington soured further.
WASHINGTON: The U.S. government late on Friday accused the Chinese government of making it impossible for U.S. airlines to resume service to China and ordered four Chinese air carriers to file flight schedules with the U.S. government.
WASHINGTON: The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China's military.
NEW YORK: Oil prices tumbled about 2% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
NEW YORK/LONDON: Global equity markets fell on Friday as China's move to impose a new security law on Hong Kong further strained U.S.-China relations and clouded economic recovery prospects.
EVERY crisis brings its disaster as well as opportunity. If there can be cooperation and compromise, this pandemic is a good time to accept all the past problems and move on to a better future.
BENGALURU: European shares fell on Friday as a deterioration in U.S.-China ties compounded fears of a slower recovery from the economic damage wreaked by the Covid-19 pandemic.