Shanghai’s Pudong Lujiazui Financial District. The combined net profit of companies listed in Shanghai and Shenzhen was down 1.7 per cent year on year in 2018. Photo: Bloomberg

Corporate China hit by worst earnings on record in 2018, as trade war bites

  • Losses related to goodwill soared to a record 166 billion yuan (US$24.65 billion) last year
  • Technology among sectors worst hit, but construction materials, defence make gains
Topic |   China economy

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Shanghai’s Pudong Lujiazui Financial District. The combined net profit of companies listed in Shanghai and Shenzhen was down 1.7 per cent year on year in 2018. Photo: Bloomberg
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Chinese Vice Premier Liu He shows the way to US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer as they proceed to their meeting at the Diaoyutai State Guesthouse in Beijing on May 1, 2019. Photo: AFP

As US-China deal nears, Beijing relaxes rules for foreign banks and insurers, in concession to Washington

  • China announced a dozen new measures on Wednesday to further open up its US$44 trillion financial sector to foreign banks and insurers
  • Analysts are viewing the move as a clear concession to US negotiators and a sign that a deal to end the trade war is imminent
Topic |   US-China trade war

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Chinese Vice Premier Liu He shows the way to US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer as they proceed to their meeting at the Diaoyutai State Guesthouse in Beijing on May 1, 2019. Photo: AFP
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