US House Speaker Nancy Pelosi arrived in Taiwan yesterday evening. She is the highest-ranking US politician to visit the island while in office in 25 years. China has reportedly levied new import bans on more than 100 Taiwanese products, in economic retaliation for the visit.
Hong Kong s June retail sales slipped 1.2% from a year earlier tracking a slight drop in the previous month, government data showed on Tuesday. Sales eased to HK$27.7 billion (US$3.53bn), having decreased a revised 1.6% in May. In volume terms, retail sales fell 4.1% year-on-year in June, compared with an upwardly revised 4.8% decline in May. A government spokesman said that the upcoming disbursement of Phase II consumption vouchers would help support consumption demand.
HSBC announced yesterday it would launch a HK$40 billion (US$5.1bn) fund to help small and medium enterprises grow, hire and digitise. The bank also announced that it would scrap fees and charges on basic banking servic
China’s economic chief, Vice-Premier Liu He, and US Treasury Secretary, Janet Yellen, held a virtual conference on Tuesday, at the request of the United States. It was their first call since October. The official Xinhua News Agency reported that the two sides had a “pragmatic and frank” exchange on macroeconomic, tariff and supply chain issues as well as rising commodity prices and food security challenges.
The talks come as President Biden is considering a rollback of some of the Trump Administration’s US$300bn of US tariffs on Chinese consumer goods this week, along with a new probe into industrial subsidies that may lead to more duties in strategic areas like technology.
Activity in China’s private services sector staged a stronger rebound than expected last month. The Caixin Services PMI for June came in at 54.5, marking the highest level in 11 months, compared to 41.4 in the previous month and beating economists’ expectations for
2nd annual ETFGI Global ETFs Insights Summit etfgi.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from etfgi.com Daily Mail and Mail on Sunday newspapers.