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Media Report
April 11 , 2019
  • The Wall Street Journal reports, "China sweetened an offer to open its cloud-computing sector to foreign companies, in a bid to forge a trade deal after U.S. negotiators rejected an earlier proposal as inadequate, said people briefed about the negotiations. In last week's face-to-face talks in Washington, Chinese negotiators led by Vice Premier Liu He revised an earlier offer on cloud-computing access, proposing to issue more licenses that businesses need to operate data centers and to lift the 50% equity cap that limits ownership for certain foreign cloud-service providers, the people said. Both sides continue to haggle over the issues this week via videoconference, one of the people said. The fresh concessions are aimed at reaching a compromise the U.S. negotiating team is pressuring Beijing to make to strike an overall trade deal. Both sides are trying to winnow remaining sticking points; Treasury Secretary Steven Mnuchin said Wednesday that the two sides have agreed to set up enforcement offices to monitor compliance with an eventual deal, suggesting progress on one stumbling block."

  • Reuters reports, "A bigger-than-expected slowdown in China's economy is among key risks to global growth, International Monetary Fund Deputy Managing Director Mitsuhiro Furusawa warned, as G20 finance leaders gather to discuss a darkening world economic outlook. Furusawa said China's slowdown so far has been moderate and Beijing has the necessary tools to underpin growth, helping keep Asia a key driver of the global economy. But he warned that uncertainty over China's growth outlook was among risks to the global economy, as well as the chance of an abrupt tightening of market conditions if Sino-U.S. trade talks take an unexpected turn for the worse. 'One would be the trade friction, which is weighing not just on trade volume but investment,' Furusawa said on risks to the global outlook. 'If China's economy slows more than expected, that's also a risk to the global economy,' he told Reuters on Wednesday."
  • Bloomberg reports, "Investors are never short of trading ideas in China's $7.6 trillion stock market. On Thursday, they found inspiration in a very far off place, in the form of a super-massive black hole.Companies linked to space telescopes and optical lenses bucked broader market declines after scientists released the first-ever image of a black hole. Phenix Optical Co. surged 9.9 percent in Shanghai to the highest since June. Zhejiang Southeast Space Frame Co. jumped as much as 10 percent before closing up 3.3 percent, while Shanghai Moons' Electric Co. climbed more than 4 percent before erasing gains. The Shanghai Composite Index slid 1.6 percent, its biggest loss since March 25. China's mom-n-pop investors are no strangers to quirky trading, from buying stocks with names that sound like U.S. President Donald Trump to those that share the same Chinese character as the securities regulator's surname. Companies with even the loosest links to next-generation 5G networks were among favorites this year, though that trade quickly unraveled."
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