ChiNext Index opens higher Friday

BEIJING, Jan. 13 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, was up 0.68 percent to open at 2,475.14 points Friday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Experts optimistic on overall price stability this year

Customers shop for Spring Festival decorations at a market in Taian, Shandong province, on Thursday. Chinas consumer price index, a main gauge of inflation, rose by 2 percent year-on-year in 2022, according to data released by the National Bureau of Statistics. (ZOU HONG/CHINA DAILY)China has favorable conditions and capabilities to maintain overall price stability in 2023 despite imported inflationary pressures and potential fluctuations in high international commodity prices, officials and experts said on Thursday.Compared with the soaring prices in major advanced economies, Chinas inflation remains mild and controllable, leaving room for policy easing to bolster the economy amid headwinds and uncertainties, they said.Chinas consumer price index, a main gauge of inflation, grew by 1.8 percent year-on-year in December, up from a 1.6 percent increase in November, the National Bureau of Statistics said on Thursday.Meanwhile, Chinas producer price index, which gauges factory-gate prices, decreased by 0.7 percent year-on-year last month, after a 1.3 percent decline in November.Wan Jinsong, director of the National Development and Reform Commissions Department of Price, said the country has solid foundations, as well as confidence and capabilities, to maintain overall price stability in 2023, given the sufficient supply of daily necessities, the stable supply of energy and an improved system for ensuring price and supply stability.Wan told a news conference in Beijing on Thursday that Chinas overall price levels are generally stable as the countrys full-year consumer inflation rose by 2 percent year-on-year. In contrast, inflation in major advanced economies — the United States, the eurozone and the United Kingdom — as measured by CPI, was about 8 percent, above 8 percent and about 9 percent, respectively."Unlike the rest of the world, China has continued to issue low inflation data due to weak domestic demand," said Lu Ting,...

Tokyo stocks open lower on strong yen

Tokyo stocks opened lower Friday, as a stronger yen against the dollar weighed on market sentiment despite Wall Street gains following data that showed a softening of US inflation.The benchmark Nikkei 225 index was down 0.35 percent, or 93.13 points, at 26,356.69 in early trade, while the broader Topix index slipped 0.10 percent, or 2.00 points, to 1,906.18.

US stocks rise as inflation eases

NEW YORK, Jan. 12 (Xinhua) -- Wall Streets major averages climbed on Thursday as investors cheered signs of cooling in U.S. inflation.The Dow Jones Industrial Average rose 216.96 points, or 0.64 percent, to 34,189.97. The S&P 500 added 13.56 points, or 0.34 percent, to 3,983.17. The Nasdaq Composite Index increased 69.43 points, or 0.64 percent, to 11,001.10.Eight of the 11 primary S&P 500 sectors ended in green, with energy and real estate up 1.87 percent and 1.09 percent, respectively, outpacing the rest. Consumer staples dipped 0.79 percent, the worst-performing group.The U.S. Labor Department reported Thursday that the countrys consumer price index (CPI) fell 0.1 percent in December, in line with the consensus, for a 6.5 percent year-on-year increase, following a 7.1 percent year-on-year increase in November. The core CPI, which excludes food and energy, rose 0.3 percent, also in line with expectations, for a 5.7 percent year-on-year increase."Core CPI falling back below 6 percent would be a step in the right direction, but inflation remains far above the 2 percent target," UBS analysts said, adding that "we continue to believe that its too early for an imminent Fed pivot and the conditions are not yet in place for a sustainable equity rally."Will Compernolle, senior economist at FHN Financial, said "the Fed will still proceed cautiously as it monitors sticky inflation components like core services."The Federal Reserve has been raising interest rates since last March in an effort to bring inflation under control.Fed officials have reiterated this week that rates are likely to remain at their peak level for some time before easing starts.

Vietnam to cooperate with China to facilitate entry following reopening

HANOI, Jan. 12 (Xinhua) -- Vietnamese local authorities are working closely with their Chinese counterparts to implement cooperation activities in the interests of both sides after Chinas optimization of COVID-19 response policies on Jan. 8, the Ministry of Foreign Affairs said on Thursday.Vietnamese nationals who wish to travel to other countries, including China, should follow the updates on visa policies, immigration and COVID-19 regulations of the countries, deputy spokesperson for the Vietnamese Ministry of Foreign Affairs Pham Thu Hang told a press briefing.Regarding collaboration between Vietnam and China to ensure the flow of goods, Hang said authorities of both countries have maintained regular exchanges and made efforts to ensure trade activities and supply chains are maintained smoothly while implementing a joint statement made during General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trongs visit to China last year and in the spirit of high-level discussions.During the Lunar New Year, a number of Chinese border gates will apply measures to facilitate customs clearance including customs clearance by prior appointment, she noted.Localities and local enterprises need to update themselves on this information, and work with their Chinese partners to develop a plan for transportation and customs clearance of goods, Hang said.

Wall Street starts layoffs of thousands

Two of Wall Street's biggest financial firms on Wednesday started cutting thousands of jobs, with Goldman Sachs cutting up to 3,200 and BlackRock up to 500.A sharp downturn in investment banking and struggles in retail banking are behind the cuts at Goldman. It is one of the biggest rounds of layoff

China port opens direct shipping route for Chilean cherry imports

DALIAN, Jan. 12 (Xinhua) -- Dalian Port in northeast China has opened a direct shipping route to import cherries from Chile.The ship GSL Tinos, loaded with 616 TEUs of Chilean cherries, docked on Wednesday at the container terminal in Dalian after a 22-day trip.Of the total, 592 TEUs of cherries will be delivered directly to the wholesale markets in China. The others will be transferred to the Republic of Korea (ROK) via Dalian Port.Chilean cherries are increasingly favored by Chinese consumers, and the market demand continues to rise. "China has become our main market and strategic partner," said Victor Maroto, a representative of Chilean shippers.According to Liaoning Port Co., Ltd., which owns Dalian Port, Chilean cherries were mostly distributed to the Chinese market through ports such as Busan in the ROK and Shenzhen in China in the past. The opening of the direct shipping route will provide customers in northeast China and northern China with faster service.In recent years, Dalian Port has continuously built a cold-chain logistics center and promoted the distribution of imported fruits. In 2022, the throughput of imported fruits in Dalian Port increased by 23 percent year on year.

US CPI up 6.5% in December

The U.S. Consumer Price Index (CPI) rose by 6.5 percent year on year in December, according to the U.S. Bureau of Labor Statistics on Thursday.

Supervision set to guide platforms

The booth of Ant Group during an expo in Hangzhou, Zhejiang province. (LONG WEI/FOR CHINA DAILY)Experts: New steps will boost tech, corporate governance, sustainabilityChina's supervision of platform companies' financial activities will normalize with more targeted efforts to guide them toward bette

Chinese firms' role in global economy bigger

People visit the exhibition area of Chinese company Jackery during the 2023 Consumer Electronics Show (CES) in Las Vegas, the United States, Jan 6, 2023. (Photo/Xinhua)Chinese enterprises, both State-owned and private, are striving to play a bigger role in promoting global economic development and w

China explores ways to unleash more potential

An aerial view of Beibu Gulf Port in Qinzhou, Guangxi Zhuang autonomous region. (Photo provided to China Daily)RCEP: Regional integration to pick up paceChina is expected to pursue greater domestic reforms and tariff cuts as it strives to join important international trade agreements and unleash the

China Energy vows to ensure coal supply


Credit services urged to support economy 'early on'

The Industrial and Commercial Bank of China booth at an expo in Guangzhou, Guangdong province. (Photo by Fang Jie/For China Daily)Major lenders chart faster steps in key areas and weak links, inject impetus into developmentMajor banks in China must get the pace of credit extensions right so that the

Experts stress banks' role in real economy

File photo shows the headquarters of the People's Bank of China in Beijing. (Photo/Xinhua)Hopes of monetary policy easing stir debate on credit, consumer demandFinancial institutions should maintain a positive attitude in bolstering the real economy as China will further ease its monetary policy thi

Hong Kong's Hang Seng Index closes 0.36 pct higher

HONG KONG, Jan. 12 (Xinhua) -- Hong Kongs major stock indices ended mixed Thursday, with the benchmark Hang Seng Index up 0.36 percent to close at 21,514.1 points.The Hang Seng China Enterprises Index rose 0.92 percent to end at 7,311.84 points, while the Hang Seng Tech Index fell 1.32 percent to close at 4,487.07 points.

World Bank sees 4.3% growth for China in 2023


ChiNext Index closes higher Thursday

BEIJING, Jan. 12 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, gained 0.51 percent to close at 2,458.49 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, Jan. 12 (Xinhua) -- Chinese stocks closed higher Thursday, with the benchmark Shanghai Composite Index up 0.05 percent to 3,163.45 points.The Shenzhen Component Index closed 0.23 percent higher at 11,465.73 points.The combined turnover of stocks covered by the two indices stood at 681.5 billion yuan (100.66 billion U.S. dollars), down from 741.8 billion yuan on the previous trading day.Shares in the e-paper and decelerator sectors led the gains, while those in the real estate services and hotel sectors suffered losses.The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, gained 0.51 percent to close at 2,458.49 points.

ChiNext Index higher at midday Thursday

BEIJING, Jan. 12 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, went up 0.22 percent to 2,451.38 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 lower at midday Thursday

BEIJING, Jan. 12 (Xinhua) -- Chinas major stock indices ended lower in the morning session Thursday, with the benchmark Shanghai Composite Index down 0.23 percent to 3,154.71 points.The Shenzhen Component Index lost 0.03 percent to 11,436.43 points at midday.

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