CHINA People's Daily Tonight: Podcast News (10/12/2018 Fri.)

CHINA

People's Daily Tonight: Podcast News (10/12/2018 Fri.)

People's Daily app

20:27, October 12, 2018

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This is People’s Daily Tonight, your news source from China. 

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China's foreign trade volume jumps 9.9%

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China's foreign trade volume jumped 9.9 percent year-on-year to 22.28 trillion yuan in the first three quarters of this year, data from the General Administration of Customs show.

The country's export volume stood at 11.86 trillion yuan, a year-on-year increase of 6.5 percent, in the first nine months, while import volume surged 14.1 percent year-on-year to 10.42 trillion yuan.

In the meantime, the country's trade surplus reached 1.44 trillion yuan, shrinking by 28.3 percent on a year-on-year basis.

The import of major bulk commodities increase in both volume and price in the first three quarters of this year.

Foreign shipments to China of crude oil, refined oil and copper hit 336 million tons, 24.59 million tons and 3.99 million tons between January and September of 2018, up 5.9 percent, 34 percent, 9.8 percent and 16.1 percent year-on-year respectively. (China Daily)

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Beijing, Ottawa discuss assurances on free trade

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China has called on Canada to join it in safeguarding the global free trade system and promote the creation of the free trade area between the two countries.

Speaking with Canadian Foreign Minister Chrystia Freeland by phone on Wednesday, State Councilor and Foreign Minister Wang Yi said China has been consistent in upholding free trade and safeguarding a multilateral trading system with the World Trade Organization at its core.

The conversation took place shortly after Canada concluded talks for the US-Mexico-Canada Agreement, which has yet to be approved by the governments of all three countries, including the US.

Wang said China opposes trade protectionism in any form as well as double-standard practices, and any attempt to hinder China from further modernization will not succeed. (China Daily)

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Ronaldo accuser's lawyers demand proof documents are false

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Attorneys for a Nevada woman accusing Cristiano Ronaldo of rape challenged the international soccer star's legal team on Thursday to prove that documents cited in European media reports about their 2009 encounter in Las Vegas are false.

Anything that proves that documents were altered, fabricated or inaccurate also "should be immediately turned over to the appropriate law enforcement agencies," attorneys said in a statement emailed to media in the US and abroad.

"Disputes regarding the accuracy of documents are generally questions of fact to be decided by the jury," they said. (AP)

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US jobless claims edge up last week

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The number of US initial jobless claims increased last week, but the labor market remained tight.

According to a report released by the US Labor department on Thursday, the number of people filing for US unemployment benefits rose by 7,000 to stand at 214,000 in the week which ends October 6.

The four-week average of initial claims also rose by 2, 500 to 209,500 last week, said the department.

Although the reading edged up slightly, it remained below the 300,000 threshold, which is associated with a strong labor market.

The latest job report released by the department also encouraged the market participants to keep their positive view on US labor market.(Xinhua)

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S. Korea ex-president Lee appeals 15-year jail term

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Former South Korean President Lee Myung-bak will appeal a court verdict that last week sentenced him to 15 years in prison for corruption, his lawyer said Friday.

The conservative politician, who helmed Hyundai Construction before his election to the presidency, was separately ordered to pay a fine of 13 billion won ($11.5 million) by the Seoul Central District Court.

The court also found that Lee, 76, was the de-facto owner of DAS -- a controversial auto parts company which he claimed belonged to his brother -- which he used to create a slush fund worth around 24 billion won.

He was also found guilty of accepting nearly six billion won from Samsung Electronics in return for a presidential pardon for its chairman, who had received a suspended jail term for tax evasion. (AFP)

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Chinese overseas M&A activities cool in H1: report

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Chinese overseas mergers and acquisitions (M&A) activities lost steam in the first half of this year amid rising global economic uncertainties, a report showed Thursday.

Chinese firms spent about 22 billion U.S. dollars in outbound M&A deals in the first six months of the year, down by about 60 percent from the same period in 2017, according to a report by global management consultancy Bain & Company.

Bain attributed the  drop to China's currency depreciation, fears of the effects of the U.S.-China trade dispute, and tightening regulations.

There are still ample opportunities for more overseas acquisitions, the report pointed out. In 2017, China spent only 0.6 percent of its GDP on outbound M&A, while Japan's spending on outbound M&A is usually double China's ratio.(xinhua)

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Stock losses muted in Asia after global rout

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Some Asian stock markets opened in the red Friday, but losses were relatively muted as traders took a breather after a global rout sparked by fears over higher US interest rates.

Japan's main Nikkei-225 index began the day more than one percent lower but bounced back in the first hour of trade. 

Chinese stocks, which have seen a ferocious sell-off in recent days, also opened with marginal losses, the benchmark Shanghai Composite shedding 0.36 percent.

But the Kospi index in South Korea bucked the trend and was trading in the green, as was the Hang Seng in Hong Kong as markets in Asia started the fight back.(AFP)

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And that’s People’s Daily Tonight.  Thanks for joining us.

(Produced by Han Xiaomeng and Bai Yuanqi)

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