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Australian economy must diversify to stave off China-shocks, treasurer saysSYDNEY : Australia is diversifying its economy to rely less on China, its largest trading partner, Federal Treasurer Josh Frydenberg will say on Monday, as he warned the country's businesses to brace for new tensions with Beijing.'It is no secret that China has recently sought to target Australia's econom Australian warmongers cause breakdown in relations with China. Whose fault is this? Morrison needs to change direction or else Australia continues to suffer. The other end of the world prefix will be the major obstacle to Aus hopes.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China central bank launches currency settlement cooperation framework with Bank IndonesiaBEIJING : China's central bank said on Monday that it has launched a currency settlement cooperation framework with Bank Indonesia from Sept 6 to deepen trade links and facilitate the direct settlement of the yuan and the Indonesian currency.The People's Bank of China said the move was in line with a memo
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Germany's envoy to China dies just two weeks into the jobBEIJING: German ambassador to China Jan Hecker has died, barely two weeks into the job, the European nation\u0027s foreign office said on Monday (Sep 6). Hecker, 54, a foreign policy adviser to Chancellor Angela Merkel, had just taken up his post on Aug 24, the embassy in the Chinese capital said in a post 😢 哇，發生了什麼事？ If there ever was a script for a good espionage movie... 😏
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China state banks bought dollars on Friday to drag yuan lower -sourcesSHANGHAI/BEIJING : China's major state-owned banks were seen buying U.S. dollars in the onshore spot market late on Friday, pushing the yuan lower, three sources with direct knowledge of the matter said.The onshore spot yuan strengthened on Friday after disappointing U.S. jobs data pushed the dollar lower
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China Evergrande bonds suspended as prices slumpSHANGHAI : Bonds issued by heavily indebted developer China Evergrande Group plunged on Monday on growing investor worries over the company's ability to pay its debts, prompting China's stock exchanges to halt trading.The Shanghai Stock Exchange said in a statement that it had temporarily suspended tradin
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Japanese automakers' China car sales tumbled in AugustBEIJING : Japanese automakers Honda Motor, Nissan Motor and Toyota Motor saw their sales in China tumble in August as a chip shortage hit vehicle production in the world's biggest car market.Honda said it sold 91,694 vehicles in China last month, down 38.3per cent from a year earlier due to the COVID-19 p Stay away from china market.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »