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Economists concerned over effects of US relief package By CHEN JIA | China Daily | Updated: 2021-03-15 07:19 Share
Speaker of the House Nancy Pelosi presides over voting on coronavirus relief package H.R. 1319 in the House Chamber of the US Capitol in Washington, DC on March 10, 2021. [Photo/Agencies]
China should prepare for ripple effects from the United States $1.9 trillion fiscal relief package, which may boost US imports and fuel price increases as huge liquidity is injected into the vulnerable global financial market, experts said.
The US administration is expected to implement the stimulus plan in the coming weeks following Thursday s signing of the legislation, which will include $1,400 direct payments to individual US taxpayers to promote consumer spending, an increase in unemployment insurance supplements and funds for vaccine distribution.
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JD.com is in talks to buy part or all of a stake in brokerage Sinolink Securities worth at least $1.5 billion, three people said, as the e-commerce major aims to bolster its financial services operations.
A deal to buy the stake from Sinolink s largest shareholder, Yongjin Group, would be the biggest bet in acquisition value terms by Beijing-based JD.com in China s $45 trillion financial market. The valuable brokerage licence is key for tech giants to monetise their huge online traffic and grow into bigger firms, as otherwise they have to direct such traffic to other financial institutions, one of the sources said.