The once-a-year Spring Festival, China s most important traditional holiday, had just ended with a stunning rebound in consumer spending. Shopping malls, restaurants were thronging with shoppers, and overseas travelling companies across the world from Thailand, Singapore to Indonesia were also eagerly welcoming the return of Chinese travelers with their biggest smiles.
The US Federal Reserve on Wednesday raised its policy interest rate by 75 basis points (bps) for a third time in a row this year, in a desperate and reckless battle against rampant inflation.
The global market has been on edge in the past few days, as record US inflation data has stoked fears of a drastic rate hike at the US Federal Reserve’s June policy meeting on Wednesday.
China’s domestic financial hub of Shanghai has readied its equity market well for strict anti-COVID-19 measures that began on Monday, with the Shanghai Stock Exchange (SSE) pledging to offer cloud-based listing services, among other measures to ensure operations through the local COVID-19 flare-ups.
As the Russia-Ukraine military conflict entered its 13th day on Tuesday, global attention has increasingly focused on the economic repercussions of the West-fanned tensions around Ukraine, with soaring oil prices in the wake of Western sanctions casting a shadow over the global economic rebound amid inflation woes and the still raging pandemic.