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Toyota Q3 net profit down 8%, full-year forecasts unchanged

Japanese automaker Toyota said Thursday its net profit for the third quarter fell eight percent, but it left its full-year forecasts unchanged.The worlds top-selling carmarker, which reshuffled its top executive line-up last month, reported a net profit of 727.9 billion yen ($5.6 billion), down from 791.7 billion yen a year earlier.Shown is a Toyota logo at the Philadelphia Auto Show, Friday, Jan. 27, 2023, in Philadelphia. (Photo: AP)

ChiNext Index higher at midday Thursday

BEIJING, Feb. 9 (Xinhua) - The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, rose 0.78 percent to 2,545.61 points in the morning session Thursday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares higher at midday Thursday

BEIJING, Feb. 9 (Xinhua) - Chinas major stock indices ended higher in the morning session Thursday, with the benchmark Shanghai Composite Index up 0.62 percent to 3,252.02 points.The Shenzhen Component Index gained 0.86 percent to 11,955.63 points at midday.

Innovation brings wave of opportunity

Fishermen in the coastal city of Yueqing, Zhejiang province, are financially benefiting from ongoing changes to the city's marine equipment production, environmental protection and tourism.

Overseas investors bullish on yuan assets

Bullish on China's head start in economic recovery in 2023, global investors are lining up for yuan-denominated assets.

China's central bank continues to add liquidity via reverse repos

BEIJING, Feb. 9 (Xinhua) -- Chinas central bank continued to inject funds into the financial system through open market operations on Thursday.The Peoples Bank of China said on its website that it has conducted 453 billion yuan (about 66.7 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.The move is aimed at keeping liquidity reasonable and ample in the banking system, according to the central bank.A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Forex reserves expected to remain at stable level

​China's foreign exchange reserves are expected to remain stable after increasing for the fourth straight month in January as the country's economic recovery gains traction, experts said on Tuesday.

China's benchmark interbank gold prices mixed Thursday

BEIJING, Feb. 9 (Xinhua) -- Chinas benchmark prices for spot interbank gold transactions were mixed Thursday, according to the China Foreign Exchange Trade System.The benchmark price for gold that is 99.95 percent pure or above stood at 412.8 yuan (about 60.8 U.S. dollars) per gram, down 0.03 yuan from the previous trading day, while the price for gold that is 99.99 percent pure or above went up 0.45 yuan to 413.45 yuan per gram.Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15 percent from the benchmark prices each trading day.The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models.

China's interbank treasury bond index opens lower Thursday

BEIJING, Feb. 9 (Xinhua) -- Chinas interbank treasury bond index in net price opened at 994.68 points Thursday, lower than the previous close of 994.77 points, according to the China Foreign Exchange Trade System.The index reflects real-time trading of treasury bonds in Chinas interbank bond market.The index opens at 9 a.m. on every workday and is updated every five minutes until closing at 5 p.m.

ChiNext Index opens lower Thursday

BEIJING, Feb. 9 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, was down 0.2 percent to open at 2,520.83 points Thursday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares open lower Thursday

BEIJING, Feb. 9 (Xinhua) -- Chinese stocks opened lower on Thursday, with the benchmark Shanghai Composite Index down 0.14 percent to open at 3,227.73 points.The Shenzhen Component Index opened 0.27 percent lower at 11,821.96 points.

Chinese yuan weakens to 6.7905 against USD Thursday

BEIJING, Feb. 9 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 153 pips to 6.7905 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System.In Chinas spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Hong Kong's Hang Seng Index opens 0.61 pct lower

HONG KONG, Feb. 9 (Xinhua) -- Hong Kongs Hang Seng Index fell down 129.27 points, or 0.61 percent, to open at 21,154.25 points on Thursday.

US-listed Chinese firms trade mostly lower

NEW YORK, Feb. 8 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday, with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.Shares of Baidu and JD.com slid 4.92 percent and 3.05 percent, respectively, leading the decliners in the top 10 stocks.Shares of BeiGene and NetEase rose 0.34 percent and 0.05 percent, respectively, the only two gainers in the top 10 stocks. Shares of Trip.com Group closed flat.Wall Streets major averages dipped on Wednesday, weighed by overall weakness in tech-related stocks.The Dow Jones Industrial Average fell 207.68 points, or 0.61 percent, to 33,949.01. The S&P 500 sank 46.14 points, or 1.11 percent, to 4,117.86. The Nasdaq Composite Index shed 203.27 points, or 1.68 percent, to 11,910.52.The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, surged 5.2 percent to 19.63.As of Tuesday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 2,913.38, marking a 0.09-percent rise for the month-to-date returns and a 13.37-percent increase for the year-to-date returns.

US stocks close lower

NEW YORK, Feb. 8 (Xinhua) -- U.S. stocks ended lower on Wednesday.The Dow Jones Industrial Average fell 207.68 points, or 0.61 percent, to 33,949.01. The S&P 500 sank 46.14 points, or 1.11 percent, to 4,117.86. The Nasdaq Composite Index shed 203.27 points, or 1.68 percent, to 11,910.52.

Disney+ subscribers decline for first time

Disneys streaming service saw its first ever fall in subscribers last quarter, company data showed on Wednesday, as consumers cut back on spending amid higher costs and a souring global economy.In this file photo taken on March 16, 2022 the Disney+ logo is seen on the backdrop for the "Cheaper by the Dozen" Disney premiere at the El Capitan theatre in Hollywood, California. (File photo: AFP)Subscribers to Disney+, the streaming archrival to Netflix, fell one percent to 161.8 million customers on December 31, compared to three months earlier.Analysts had broadly expected the decline, which was part of the first earnings report by Disney since Hollywood veteran Bob Iger was reinstated as CEO in November.

World's top 3 IPOs in 2023 come from Germany, China: EY

File photo shows an exterior view of the Shanghai Stock Exchange at Pudong New Area in Shanghai, east China. (File photo: Xinhua)BERLIN, Feb. 8 (Xinhua) -- The worlds three largest initial public offerings (IPOs) in 2023 so far came from Germany and China, according to an analysis published by the consulting firm Ernst & Young (EY) on Wednesday.The proceeds from the stock market debut of German web hosting company IONOS Group SE on Wednesday are expected to be 447 million euros (480.6 million U.S. dollars). This was the largest IPO globally so far this year, according to EY.With an emission volume of 383 million U.S. dollars, the IPO of Chinas Cinda Securities Co. Ltd at the beginning of February was the second largest, followed by Chinas Hubei Jianghan New Materials Co. Ltd. with 352 million U.S. dollars.Globally, the IPO year 2023 started "quite weak," EY said. In January, 77 IPOs raised a total of 2.55 billion U.S. dollars only. In the same period of 2022, 98 IPOs raked in 31.91 billion U.S. dollars."In the past year, the IPO pipeline has continued to build," Martin Steinbach, partner and head of IPO and Listing Services at EY, said in a statement. "Some of the IPO candidates that did not make it in 2022 due to the poor market environment are waiting for the right moment."Following the record year of 2021, the number of IPOs in 2022 worldwide fell by 45 percent to 1,333, and the issue volume even dropped by 61 percent to 180 billion U.S. dollars, according to a previous EY study.The largest IPO last year was the stock market debut of South Korean battery manufacturer LG Energy Solution, raising 10.7 billion U.S. dollars. German luxury sports car manufacturer Porsche AG came in second, followed by mobile communications provider China Mobile.After the low point in October last year, general conditions have improved. "Volatility has fallen steadily," Steinbach said. At the same time, stock markets developed ...

Disney to cut 7,000 jobs in Iger's company 'transformation'

In this Jan. 9, 2019 photo, guests watch a show near a statue of Walt Disney and Micky Mouse in front of the Cinderella Castle at the Magic Kingdom at Walt Disney World in Lake Buena Vista, Fla. (File photo: AP)The Walt Disney Co. said Wednesday it will cut about 7,000 jobs as part of a "significant transformation" announced by CEO Bob Iger.The job cuts amount to about 3% of the entertainments global workforce and were announced Wednesday after Disney reported quarterly results that topped Wall Streets forecasts.Iger returned as CEO in November following a challenging two-year tenure by his handpicked successor, Bob Chapek. The company says the job reductions are part of a targeted $5.5 billion cost savings across the company. As of Oct. 1, Disney employed 220,000 people, of which about 166,000 worked in the U.S. and 54,000 internationally.In its latest results, solid growth at Disneys theme parks helped offset tepid performance in its video streaming and movie business.Disney said Wednesday that it earned $1.28 billion, or 70 cents per share, in the three months through Dec. 31. That compares with net income of $1.1 billion, or 60 cents per share, a year earlier.Excluding one-time items, Disney earned 99 cents per share. Analysts, on average, were expecting adjusted earnings of 78 cents per share, according to FactSet.Revenue grew 8% to $23.51 billion from $21.82 billion a year earlier. Analysts were expecting revenue of $23.44 billion.The latest results marked the first quarterly snapshot since Bob Igers return as CEO in November following a challenging two-year tenure by his handpicked successor, Bob Chapek.In a statement, Iger said the company is embarking on a "significant transformation" that management believes will lead to improved profitability at the companys streaming business.The company said Disney+ ended the quarter with 161.8 million subscribers, down 1% from since Oct. 1. Hulu and ESPN+ each posted a 2% in...

Eurozone banks 'resilient' but risks remain: ECB

Eurozone banks have sufficient capital buffers to weather shocks and are benefitting from rising interest rates, but "persistent weaknesses" in governance must be addressed, the European Central Bank said Wednesday.Photo taken on Jan. 1, 2022 shows the headquarters of the European Central Bank illuminated to celebrate the 20th anniversary of Euro banknotes and coins in Frankfurt, Germany. (File photo: Xinhua)For 2023, the ECB said it would only slightly increase the amount of capital banks need to hold, on average, to 15 percent of risk-weighted assets, compared with last years 14.7 percent."Banks remain resilient," the ECB said in a regular review of the around 115 banks it supervises, adding that "the vast majority" held more capital than required."Banks have done well in withstanding the economic impact of the Russian invasion of Ukraine, thanks to their strong capital and liquidity positions," said Andrea Enria, head of the ECBs supervisory board."Despite the outlook worsening throughout the year, rising interest rates led to improved profitability and capital generation," he added.But challenges remained, Enria said, warning that "banks need to address persistent weaknesses, particularly in their risk control and governance frameworks".The ECBs report highlighted concern about the effectiveness and make-up of management bodies, as well as banks expertise in assessing and managing climate-related risks and cyber threats.If such issues are not resolved, there will be a supervisory "escalation process", Enria told a Frankfurt press conference.Some eurozone lenders have in the past accused the ECBs supervisory arm of being too intrusive, but Enria dismissed the criticism."The banks understand what we want from them, but sometimes they are not reacting as fast and decisively as we would expect," he said.

US official data show goods trade with China hits record despite decoupling rhetoric

WASHINGTON, Feb. 7 (Xinhua) -- Newly released U.S. official data showed that goods trade between the United States and China hit a record 690.6 billion U.S. dollars in 2022, indicating robust trade growth amid bilateral tensions and decoupling rhetoric.Containers of China COSCO Shipping Corporation Limited are seen at the Port of Long Beach in Los Angeles County, the United States, Feb. 27, 2019. (File photo: Xinhua)The U.S. Commerce Department data, which are not adjusted for inflation, showed that goods exports to China increased by 2.4 billion dollars to 153.8 billion dollars and imports increased by 31.8 billion dollars to 536.8 billion dollars.The data showed that despite U.S. governments decisions to impose tariffs and export controls and some politicians rhetoric to decouple from China, trade growth between the two major economies remains robust.Bilateral trade relations have reached a low point since 2018, when former U.S. President Donald Trump launched a trade war with China, unilaterally imposing tariffs on over 300 billion dollars worth of Chinese goods. Since taking office, current President Joe Biden has not yet made a decision to scrap any Trump-era tariffs.William Reinsch, a senior adviser at the Center for Strategic and International Studies, a Washington-based think tank, was quoted by Bloomberg as saying that the latest data showed that "consumers have minds of their own.""At the market level, were still doing a lot of business...The macro relationship hasnt changed that much; were still trading a lot," said Reinsch, who also served as the under-secretary of commerce for export administration during the Clinton administration.Decoupling isnt yet happening in any significant way, not by a long shot, and isnt likely to, Foreign Policy magazine said in an analysis. It quoted U.S. business insiders as saying that the U.S.-China economic relationship remains profound and is growing deeper in many s...

Hong Kong's Hang Seng Index closes 0.07 pct lower

HONG KONG, Feb. 8 (Xinhua) -- Hong Kongs stock market ended lower on Wednesday with the benchmark Hang Seng Index down 0.07 percent to close at 21,283.52 points.The Hang Seng China Enterprises Index lost 0.59 percent to end at 7,189.29 points, and the Hang Seng Tech Index dropped 1.88 percent to close at 4,431.58 points.

ChiNext Index closes lower Wednesday

BEIJING, Feb. 8 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, lost 0.48 percent to close at 2,525.88 points Wednesday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares close lower Wednesday

BEIJING, Feb. 8 (Xinhua) -- Chinese stocks closed lower Wednesday, with the benchmark Shanghai Composite Index down 0.49 percent to 3,232.11 points.The Shenzhen Component Index closed 0.62 percent lower at 11,853.46 points.The combined turnover of stocks covered by the two indices stood at 804.8 billion yuan (about 118.8 billion U.S. dollars), down from 841.1 billion yuan on the previous trading day.Shares related to the paper-making industry led the gains, while those related to media and entertainment suffered losses.The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, lost 0.48 percent to close at 2,525.88 points.

EVs to increase in public transport

China aims to increase the share of electric vehicles in the public transport system to 80 percent in key areas, including bus and taxi services, by 2025, as the country accelerates its steps to promote green transformation amid booming new energy vehicle development.

Tokyo's Nikkei ends lower

Tokyos key Nikkei index ended lower Wednesday as the market was weighed down by a higher yen against the dollar and lacklustre earnings reports from some corporate giants.The benchmark Nikkei 225 index slipped 0.29 percent, or 79.01 points, to close at 27,606.46, while the broader Topix index added 0.03 percent, or 0.57 points, at 1,983.97.

ChiNext Index closes higher Thursday

BEIJING, Feb. 9 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, gained 1.74 percent to close at 2,569.73 points Thursday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares close higher Thursday

BEIJING, Feb. 9 (Xinhua) -- Chinese stocks closed higher on Thursday, with the benchmark Shanghai Composite Index up 1.18 percent to 3,270.38 points.The Shenzhen Component Index closed 1.64 percent higher at 12,048.27 points.The combined turnover of stocks covered by the two indices stood at 901.1 billion yuan (about 132.7 billion U.S. dollars), up from 804.8 billion yuan on the previous trading day.Shares related to the semiconductor industry led the gains, while those related to the combustible ice sector suffered losses.The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, gained 1.74 percent to close at 2,569.73 points on Thursday.

China central SOE net profits up 35.71 pct in three years

BEIJING, Feb. 9 (Xinhua) -- Net profits at Chinas centrally administrated state-owned enterprises (SOEs) rose 35.71 percent to 1.9 trillion yuan (about 279.8 billion U.S. dollars) in 2022 from that achieved in 2020, official data showed.Employees from a subsidiary of China Shipbuilding Industry Corp install clean-energy equipment in Nantong, Jiangsu province. (Photo: Xinhua)Meanwhile, the operating revenues of Chinas centrally administrated SOEs increased 30.03 percent from 2020 to reach 39.4 trillion yuan in 2022, according to data from the countrys SOE regulator.The net profits and revenues of centrally administrated SOEs grew at a rather fast pace in the past three years as a whole, given that their net profits grew 5.5 percent year on year and revenues increased 8.3 percent year on year, respectively, in 2022.China started to implement a three-year action plan for SOE reform in 2020, and issued a mobilization order for deepening this reform. Thanks to the 2020-2022 action plan, Chinas SOEs balanced COVID-19 response with effective production and introduced a series of reforms.The action plan has led to all-out efforts and numerous breakthroughs in key areas, including optimizing the modern enterprise system and the market-oriented operation mechanism.A total of 99 Chinese SOEs were included on the 2022 Fortune Global 500 List.

Hong Kong's Hang Seng Tech Index rises over 3 pct in afternoon trading

HONG KONG, Feb. 9 (Xinhua) -- Hong Kongs Hang Seng Tech Index rose over 3 percent during Thursdays afternoon trading to 4565.41 points, up 133.83 points.

China-Laos-Thailand round-trip freight train launched from China's Yunnan

A freight train loaded with 19 cold-chain containers packed with about 280 tonnes of fresh vegetables left Kunming, capital of southwest China's Yunnan Province, on Tuesday.This was the first "China-Laos-Thailand" round-trip freight train. The train was scheduled to arrive in the Thai capital of Ban

India's central bank raises policy interest rate by 25 basis points

A man walks past a sign of the Reserve Bank of India (RBI) in Mumbai on August 5, 2022. (File photo: AFP)The Reserve Bank of India raised its policy interest rate by 25 basis points to 6.5 percent on Wednesday.

ChiNext Index higher at midday Wednesday

BEIJING, Feb. 8 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, rose 0.21 percent to 2,543.27 points in the morning session Wednesday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares lower at midday Wednesday

BEIJING, Feb. 8 (Xinhua) -- Chinas major stock indices ended lower in the morning session Wednesday, with the benchmark Shanghai Composite Index down 0.05 percent to 3,246.53 points.The Shenzhen Component Index lost 0.01 percent to 11,925.12 points at midday.

Douyin considers expanding pilot cities for group buying deliveries

ByteDance's Douyin, the Chinese version of TikTok, said that it is considering expanding the pilot cities for group buying deliveries, a move to further tap online business.Group buying deliveries are being tested in Beijing, Shanghai and Chengdu in Southwest China's Sichuan Province, and self-regis

Special local bonds rev up investment

AnemployeeworksataconstructionsiteinGui'anNewAreaofGuiyang,Guizhouprovince,onFeb1。

China's benchmark interbank gold prices lower Wednesday

BEIJING, Feb. 8 (Xinhua) -- Chinas benchmark prices for spot interbank gold transactions were lower Wednesday, according to the China Foreign Exchange Trade System.The benchmark price for gold that is 99.95 percent pure or above stood at 412.83 yuan (about 60.93 U.S. dollars) per gram, down 0.99 yuan from the previous trading day, while the price for gold that is 99.99 percent pure or above went down 1.04 yuan to 413 yuan per gram.Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15 percent from the benchmark prices each trading day.The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models.

China's interbank treasury bond index opens higher Wednesday

BEIJING, Feb. 8 (Xinhua) -- Chinas interbank treasury bond index in net price opened at 994.79 points Wednesday, higher than the previous close of 994.78 points, according to the China Foreign Exchange Trade System.The index reflects real-time trading of treasury bonds in Chinas interbank bond market.The index opens at 9 a.m. on every workday and is updated every five minutes until closing at 5 p.m.

China's central bank continues to add liquidity via reverse repos

BEIJING, Feb. 8 (Xinhua) -- Chinas central bank continued to inject funds into the financial system through open market operations on Wednesday.The Peoples Bank of China said on its website that it has conducted 641 billion yuan (about 94.61 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.The move is aimed at keeping liquidity reasonable and ample in the banking system, according to the central bank.A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Chinese yuan strengthens to 6.7752 against USD Wednesday

BEIJING, Feb. 8 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 215 pips to 6.7752 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.In Chinas spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese shares open higher Wednesday

BEIJING, Feb. 8 (Xinhua) -- Chinese stocks opened higher on Wednesday, with the benchmark Shanghai Composite Index up 0.1 percent to open at 3,251.5 points.The Shenzhen Component Index opened 0.11 percent higher at 11,939.86 points.

ChiNext Index opens higher Wednesday

BEIJING, Feb. 8 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, was up 0.17 percent to open at 2,542.23 points Wednesday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Hong Kong's Hang Seng Index opens 0.07 pct lower

HONG KONG, Feb. 8 (Xinhua) -- Hong Kongs Hang Seng Index dipped 14.8 points, or 0.07 percent, to open at 21,283.9 points on Wednesday.

Quality growth tops agenda going forward

China has mapped out an outline for boosting its strength in product quality, with a view to fostering high-quality development and promoting the country's transformation from a major economy to a stronger one.

Video conferencing star Zoom cuts staff by 15 percent

The logo of the social network application Zoom on the screen of a phone. (Photo: AFP)The company behind the Zoom video conferencing platform -- which became a household name during the pandemic -- announced Tuesday it is laying off about 15 percent of its staff.Zoom Video Communications chief executive Eric Yuan is also taking a 98 percent cut in salary this year and forgoing his executive bonus, he said in a blog post about the job cuts.He added that members of his executive leadership team are taking a 20 percent salary reduction and also forfeiting bonuses this year.While people and businesses continue to rely on Zoom "as the world transitions to life post-pandemic," the Silicon Valley-based firm is seeing customers cut back on spending, Yuan said in the post.Zoom has made the "tough but necessary" decision to lay off about 1,300 people, or roughly 15 percent of its staff, according to Yuan."Our trajectory was forever changed during the pandemic when the world faced one of its toughest challenges, and I am proud of the way we mobilized as a company to keep people connected," Yuan said.Zoom tripled its ranks of employees during the pandemic, as people used the platform for remote work, court hearings, social events and more while Covid-19 risks barred them from getting together in person, according to Yuan."We are seeing that people and businesses continue to rely on Zoom," Yuan said."But the uncertainty of the global economy, and its effect on our customers, means we need to take a hard look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zooms long-term vision."Zoom will continue to invest in strategic areas, the chief executive noted.Zoom joined a growing list of US tech firms slashing jobs as years of high spending has given way to parsimony due to harsh economic conditions around the world.American computer firm Dell said Monday that it will lay...

Version 3.0 China-ASEAN FTA negotiations start first round consultations

BEIJING, Feb. 7 (Xinhua) -- The first round consultations of Version 3.0 China-ASEAN Free Trade Area (FTA) negotiations started on Tuesday, according to the Ministry of Commerce.People visit the 19th China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, capital of south Chinas Guangxi Zhuang Autonomous Region on Sept. 16, 2022. (File photo: Xinhua)Relevant authorities of China and the ASEAN countries, as well as officials from the ASEAN Secretariat, attended the meeting via video link.The two sides held in-depth discussions on the procedural rules, organizational arrangements and work plans of the negotiations, and worked out a timetable and road map for follow-up negotiations.In November 2022, China and ASEAN jointly announced the official launch of the negotiations. The two sides agreed that the negotiations will cover the fields including trade in goods, investment, digital and green economy, so as to build a more inclusive, modern, comprehensive and mutually beneficial China-ASEAN FTA.

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