Chinese companies avoid EU debt; Brexit likely to exacerbate trend

Chinese corporate bonds issued in European currencies lag far behind their dollar counterparts, a trend expected to continue as the U.K.’s exit from the European Union threatens to shake financial markets on the continent. During the first quarter, Chinese companies issued five internationally marketed euro-bonds worth $3.8 billion, giving the common European currency a 7%-market share, according to Dealogic…

China manufacturing PMI hits 5-year high in March; EU, Asia post solid growth

Factories across Europe and much of Asia posted another month of solid growth in March, rounding off a strong quarter for manufacturers, even though exporters fear a rise in U.S. protectionism could snuff out a global trade recovery. China led the way, with an official manufacturing index expanding at the fastest pace in nearly five years. Surveys on Monday also showed encouraging growth in Europe, Japan, India and much of emerging Asia…

Trump to hold first meeting with Chinese President Xi Jinping next week

U.S. President Donald Trump and Chinese President Xi Jinping will hold their first face-to-face talks next week, a highly anticipated meeting between leaders at odds over trade, China’s strategic ambitions and how to deal with North Korea’s weapons programs. The White House said Trump would host Xi next Thursday and Friday at his Mar-a-Lago retreat in Florida and “discuss global, regional, and bilateral issues of mutual concern.”…

China considering plans to counter any U.S. president Trump trade penalties

China’s government has been seeking advice from its think-tanks and policy advisers on how to counter potential trade penalties from U.S. President Donald Trump, getting ready for the worst, even as they hope for business-like negotiations. The policy advisers believe the Trump administration is most likely to impose higher tariffs on targeted sectors where China has a big surplus with the United States, such as steel and furniture, or on state-owned firms…

Global stock market near record highs, dollar slips after Fed’s rate hike

World stocks perched near a record high on Friday after a week when most of the world’s biggest economies either raised rates, or signaled hikes, in a strong sign of confidence about global growth and inflation. Investors turned their attention to a meeting of world finance chiefs in Germany starting Friday, where topics including economic reform, protectionism and exchange rates are expected to be on the agenda…

U.S.-China trade war would not benefit either country, says China’s commerce minister

A trade war between China and the United States would only cause pain, China’s commerce minister said on Saturday, as analysts say the spectre of deteriorating U.S.-China ties is likely to weigh on confidence of exporters and investors worldwide. “A trade war would not benefit either country or either country’s people, you could say it would have no advantage whatsoever,” Chinese Commerce Minister Zhong Shan told reporters on the sidelines of the annual parliament session in Beijing…

Fed rate hike bets lift Wall Street; oil slides amid record U.S. stockpiles; dollar falls

World shares chalked up their longest losing streak in well over a year on Thursday as bets on rising U.S. interest rates propelled the dollar and benchmark bond yields higher and beaten-up commodity markets struggled to find a footing. With global energy stocks on the run, MSCI’s 46-country All World index .MIWD00000PUS fell for a sixth consecutive day, the longest slide since the start of 2016 and down from an all-time high set just over a week ago…

China cuts 2017 growth target to 6.5%, warns of dangers of global trade controls

BEIJING — China’s top economic official trimmed the country’s growth target and warned Sunday of dangers from global pressure for trade controls as Beijing tries to build a consumer-driven economy and reduce reliance on exports and investment. In a speech to the national legislature, Premier Li Keqiang promised more steps to cut surplus steel production that is straining trade relations with Washington and Europe…

U.S. directs anger towards China over unfair trade

FRANKFURT — China bears the brunt of U.S. anger over unfair trade, but Germany’s foreign surpluses are now far larger and may be more consequential for America’s economy and the rest of the world. Low-wage Chinese workers have put downward pressure on U.S. manufacturing wages for years, but Germany’s industries compete more directly with U.S. industries…

Wall Street rallies, dollar, U.S. Treasury yields jump on Fed rate hike bets

Wall Street indexes rallied on Wednesday, with the Dow hitting a record above 21,000 points, while the dollar and U.S. Treasury yields jumped as investors bet that a U.S. interest rate hike would come soon. New York Fed President William Dudley – one of the most influential U.S. central bankers, and usually considered a dove – said late Tuesday that the case for tightening monetary policy had become “a lot more compelling”, while San Francisco Fed President John Williams said he saw “no need to delay” raising rates…

China’s manufacturing growth in output and orders accelerate in February

China’s factory activity expanded faster than expected in February as domestic and export demand picked up, adding to signs that the global economy is regaining momentum even as fears grow of a surge in trade protectionism. Growth in both output and orders accelerated last month, according to official and private factory surveys on Wednesday, giving the government more room to focus on tackling financial risks to the economy as debt continues to rise…

China to target around 12% broad money supply growth in 2017

China plans to target broad money supply growth of around 12 percent in 2017, slightly lower than last year’s goal, policy sources said, signaling a bid to contain debt risks while keeping growth on track. Under its new “prudent and neutral” policy, the People’s Bank of China (PBOC) has adopted a modest tightening bias in a bid to cool torrid credit expansion, though it is treading cautiously to avoid hurting the economy…

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