Three lending tools are set to be extended by the Chinese government. Among them is a lending tool to support carbon emission reduction by the end of 2024. A relending tool designed to promote the clean use of coal by the end of 2023 will also be extended according to a statement on the website of the People’s Bank of China.

Finally, the Chinese central bank is set to extend a relending tool that is aimed at boosting the country’s transport and logistic sector. This tool is to be extended through June 2023.

According to a statement on the Chinese central bank’s website, the lending tool extensions are being implemented to “precisely and effectively implement the prudent monetary policy, guide financial institutions to increase support for green development and other areas.”

The post China Extends Lending Tools to Spur Economic Growth appeared first on theprimarymarket.com.

China’s large and mid-cap companies’ profits are expected to rise by 16.2% in 2023, the fastest growth rate since 2017. This is based on an assessment of 1,164 companies with a market capitalization of at least $1 billion.

According to Reuters’ assessment of the situation, the tech sector is expected to lead the charge with 27%, while the property sector is expected to grow by 9.4%.

Organizations that are expecting significant profit growth in 2023 include eCommerce giants JD.com and Alibaba Group, with growth rates of 28.8% and 18.3% respectively. Tech giant Tencent Holdings is expected to attain a 19% growth in profit.

“We expect China to outperform Asia ex-Japan due to its faster-than-anticipated reopening, continuing domestic policy support, and potential for stronger earnings growth,” Mark Haefele, chief investment officer at UBS Global Wealth Management confirmed.

The post Chinese Companies Expect Highest Revenue Growth in Five Years appeared first on theprimarymarket.com.

This change has seen a 63% recovery of air passenger volumes to 2019 levels. The Chinese transport ministry predicts a 99.5% jump in passenger traffic volumes in the year following the Lunar calendar, which translates to 70.3% of 2019 levels.

In Macau, the gambling hub of the country, 46,000 daily inbound travelers arrived on Friday; the highest tally since early 2020 when the pandemic emerged. The city expects a travel boom during the Spring Festival period.

Song Zhiyong, head of the Civil Aviation Administration of China, has cautioned that one such travel boom could have an adverse effect on the Chinese economy as rapid returns to travel are making it challenging for airline staff to ensure the safety of passengers, putting them at risk.

In addition to travel, cinemas have also seen a resurgence in attendance. Cinemas are expected to generate a revenue of 10 billion yuan ($1.5 billion) during the Spring Festival period.

The post Air Travel in China Rebounds Following Covid Infections appeared first on theprimarymarket.com.

West Texas Intermediate rose above $78 a barrel, putting the commodity on course for its longest run of daily gains since February, while equities also rose. With American inflation easing, investor focus has now been diverted to inflation data to be released on Thursday. Should the data meet analysts’ forecasts, this would ease the pressure being placed on the Federal Reserve to continue raising interest rates.

Tamas Varga, an analyst at brokerage PVM Oil Associates, noted, “The mood is unreservedly upbeat. But let us remember: it can turn sour as quickly as it has improved if inflationary pressure proves entrenched.”

Investor confidence has also been boosted by China’s bumper order of crude from the U.S. this week. With many retaining a bullish sentiment over the long term, Goldman Sachs Group Inc. stated on Wednesday that it expects crude to hit $110 per barrel by the third quarter following the reopening of the Chinese economy.

The post Oil Extends Gains For Sixth Day Following Positive China And Inflation Outlooks appeared first on theprimarymarket.com.

“There is a scheduled Integrated Political Crisis Response meeting on Wednesday, January 4, for an update of the COVID-19 situation in China and to discuss possible EU measures to be taken in a coordinated way,” the Swedish EU presidency confirmed on Monday.

During a meeting on December 29, Italy urged the rest of the EU to test inbound travelers from China amid the surge in cases. The Chinese government is set to lift its travel restrictions on January 8. Others in the 27-member body stated that they see no need to implement further testing regardless of this virus spread.

European Health Commissioner Stella Kyriakides urged leaders of EU governments to consider increasing their genomic sequencing of COVID-19 infections. She also recommended the monitoring of wastewater in an effort to detect any new variants.

The European Centre for Disease Prevention and Control confirmed last week that it has not taken steps to recommend health and safety measures to travelers arriving from China.

The post EU Officials to Discuss Response to China COVID Surge appeared first on theprimarymarket.com.

In order to curb the ongoing rise in Covid-19, several major cities have reimplemented lockdowns as well as stringent measures that have impacted travel. It is these measures that have fueled worker dissatisfaction at major companies such as Apple supplier Foxconn.

According to local tech news outlet 36Kr, Nio began to experience production disruptions in mid-October as a result of the introduction of stricter health guidelines. This resulted in the suspension of activities at both of the company’s factories in the central city of Hefei.

“The news that production at Nio’s factories has been temporarily suspended is true and this will have an impact on production and delivery schedules,” a company spokesperson revealed in an interview with Reuters.

This is the second time this year that production at Nio has been halted as a result of Covid-19 disruptions. In April, Nio was forced to halt production because of the suspension of activities at many of its supply partners.

The post COVID Measures Push China’s Nio to Suspend Production appeared first on theprimarymarket.com.

While the Hong Kong airline is committed to increasing its capacity accordingly, it did warn that this increase may take time due to the need to retrain crew members and reactivate stored aircraft. The airline expects this capacity expansion to take up to several months to complete.

In July, Cathay Pacific’s passenger capacity was at just 12.5% of pre-pandemic levels, while cargo capacity sat at 51% due to cargo crews no longer being required to quarantine.

The airline stated that it intends to hire an additional 4,000 staff members over the next 18 to 24 months as travel rebounds, thereby reinstating some of the 6,000 jobs that were lost during the pandemic.

The Hong Kong government stated that crew members will still have to remain isolated in their hotel rooms when on layovers outside the city.

The post Cathay Pacific to Boost Capacity as Quarantine Rule Lifted appeared first on theprimarymarket.com.

“I am not here to be a bomb thrower and to trash FedEx Ground and the CEO,” Patton assured reporters at the contractor conference that he held in Las Vegas over the weekend, explaining that he is simply looking to work together with FedEx Ground in order to find a feasible solution.

Currently, Patton is working to form a trade group representing delivery partners from both FedEx and Amazon.com Inc in an attempt to promote delivery contractors’ interests. Should he be successful in gaining enough traction, FedEx could potentially see its profits squeezed ahead of the peak holiday shopping season.

Although FedEx sent Patton a “cease and desist” letter earlier in the summer, FedEx Ground leader John Smith assured contractors that the company will work to protect their interests. “As the pendulum swings back” from pandemic growth, FedEx Ground remains committed to working with each of you to find solutions,” Smith stated in an internal message.

The post FedEx Faces Delivery Contractor Pay Dispute as Pandemic Boom Fades appeared first on theprimarymarket.com.

The Omicron variant took hold of the fears of people all around the world when it emerged. While it didn’t spark the same level of panic that the coronavirus itself lent, it nevertheless took on its own version of that. And just like there was a large request for a vaccine the first time around, so too was the case for Omicron.

Moderna, the company responsible for making one of the more popular and supposedly effective COVID-19 vaccines, has worked tirelessly to try and roll out the Omicron variant. After lab reports showed that it had brought about a “strong immune response” in test subjects, the UK was the first country to jump on board.

“The first generation of COVID-19 vaccines being used in the UK continue to provide important protection against the disease and save lives,” June Raine, the Chief Executive of MHRA, said in a statement.

Raine continued: “What this bivalent vaccine gives us is a sharpened tool in our armoury to help protect us against this disease as the virus continues to evolve.”

The post UK First to Approve Moderna Omicron Vaccine appeared first on theprimarymarket.com.

Three lending tools are set to be extended by the Chinese government. Among them is a lending tool to support carbon emission reduction by the end of 2024. A relending tool designed to promote the clean use of coal by the end of 2023 will also be extended according to a statement on the website of the People’s Bank of China.

Finally, the Chinese central bank is set to extend a relending tool that is aimed at boosting the country’s transport and logistic sector. This tool is to be extended through June 2023.

According to a statement on the Chinese central bank’s website, the lending tool extensions are being implemented to “precisely and effectively implement the prudent monetary policy, guide financial institutions to increase support for green development and other areas.”

The post China Extends Lending Tools to Spur Economic Growth appeared first on theprimarymarket.com.

China’s large and mid-cap companies’ profits are expected to rise by 16.2% in 2023, the fastest growth rate since 2017. This is based on an assessment of 1,164 companies with a market capitalization of at least $1 billion.

According to Reuters’ assessment of the situation, the tech sector is expected to lead the charge with 27%, while the property sector is expected to grow by 9.4%.

Organizations that are expecting significant profit growth in 2023 include eCommerce giants JD.com and Alibaba Group, with growth rates of 28.8% and 18.3% respectively. Tech giant Tencent Holdings is expected to attain a 19% growth in profit.

“We expect China to outperform Asia ex-Japan due to its faster-than-anticipated reopening, continuing domestic policy support, and potential for stronger earnings growth,” Mark Haefele, chief investment officer at UBS Global Wealth Management confirmed.

The post Chinese Companies Expect Highest Revenue Growth in Five Years appeared first on theprimarymarket.com.

This change has seen a 63% recovery of air passenger volumes to 2019 levels. The Chinese transport ministry predicts a 99.5% jump in passenger traffic volumes in the year following the Lunar calendar, which translates to 70.3% of 2019 levels.

In Macau, the gambling hub of the country, 46,000 daily inbound travelers arrived on Friday; the highest tally since early 2020 when the pandemic emerged. The city expects a travel boom during the Spring Festival period.

Song Zhiyong, head of the Civil Aviation Administration of China, has cautioned that one such travel boom could have an adverse effect on the Chinese economy as rapid returns to travel are making it challenging for airline staff to ensure the safety of passengers, putting them at risk.

In addition to travel, cinemas have also seen a resurgence in attendance. Cinemas are expected to generate a revenue of 10 billion yuan ($1.5 billion) during the Spring Festival period.

The post Air Travel in China Rebounds Following Covid Infections appeared first on theprimarymarket.com.

West Texas Intermediate rose above $78 a barrel, putting the commodity on course for its longest run of daily gains since February, while equities also rose. With American inflation easing, investor focus has now been diverted to inflation data to be released on Thursday. Should the data meet analysts’ forecasts, this would ease the pressure being placed on the Federal Reserve to continue raising interest rates.

Tamas Varga, an analyst at brokerage PVM Oil Associates, noted, “The mood is unreservedly upbeat. But let us remember: it can turn sour as quickly as it has improved if inflationary pressure proves entrenched.”

Investor confidence has also been boosted by China’s bumper order of crude from the U.S. this week. With many retaining a bullish sentiment over the long term, Goldman Sachs Group Inc. stated on Wednesday that it expects crude to hit $110 per barrel by the third quarter following the reopening of the Chinese economy.

The post Oil Extends Gains For Sixth Day Following Positive China And Inflation Outlooks appeared first on theprimarymarket.com.

“There is a scheduled Integrated Political Crisis Response meeting on Wednesday, January 4, for an update of the COVID-19 situation in China and to discuss possible EU measures to be taken in a coordinated way,” the Swedish EU presidency confirmed on Monday.

During a meeting on December 29, Italy urged the rest of the EU to test inbound travelers from China amid the surge in cases. The Chinese government is set to lift its travel restrictions on January 8. Others in the 27-member body stated that they see no need to implement further testing regardless of this virus spread.

European Health Commissioner Stella Kyriakides urged leaders of EU governments to consider increasing their genomic sequencing of COVID-19 infections. She also recommended the monitoring of wastewater in an effort to detect any new variants.

The European Centre for Disease Prevention and Control confirmed last week that it has not taken steps to recommend health and safety measures to travelers arriving from China.

The post EU Officials to Discuss Response to China COVID Surge appeared first on theprimarymarket.com.

In order to curb the ongoing rise in Covid-19, several major cities have reimplemented lockdowns as well as stringent measures that have impacted travel. It is these measures that have fueled worker dissatisfaction at major companies such as Apple supplier Foxconn.

According to local tech news outlet 36Kr, Nio began to experience production disruptions in mid-October as a result of the introduction of stricter health guidelines. This resulted in the suspension of activities at both of the company’s factories in the central city of Hefei.

“The news that production at Nio’s factories has been temporarily suspended is true and this will have an impact on production and delivery schedules,” a company spokesperson revealed in an interview with Reuters.

This is the second time this year that production at Nio has been halted as a result of Covid-19 disruptions. In April, Nio was forced to halt production because of the suspension of activities at many of its supply partners.

The post COVID Measures Push China’s Nio to Suspend Production appeared first on theprimarymarket.com.

While the Hong Kong airline is committed to increasing its capacity accordingly, it did warn that this increase may take time due to the need to retrain crew members and reactivate stored aircraft. The airline expects this capacity expansion to take up to several months to complete.

In July, Cathay Pacific’s passenger capacity was at just 12.5% of pre-pandemic levels, while cargo capacity sat at 51% due to cargo crews no longer being required to quarantine.

The airline stated that it intends to hire an additional 4,000 staff members over the next 18 to 24 months as travel rebounds, thereby reinstating some of the 6,000 jobs that were lost during the pandemic.

The Hong Kong government stated that crew members will still have to remain isolated in their hotel rooms when on layovers outside the city.

The post Cathay Pacific to Boost Capacity as Quarantine Rule Lifted appeared first on theprimarymarket.com.

“I am not here to be a bomb thrower and to trash FedEx Ground and the CEO,” Patton assured reporters at the contractor conference that he held in Las Vegas over the weekend, explaining that he is simply looking to work together with FedEx Ground in order to find a feasible solution.

Currently, Patton is working to form a trade group representing delivery partners from both FedEx and Amazon.com Inc in an attempt to promote delivery contractors’ interests. Should he be successful in gaining enough traction, FedEx could potentially see its profits squeezed ahead of the peak holiday shopping season.

Although FedEx sent Patton a “cease and desist” letter earlier in the summer, FedEx Ground leader John Smith assured contractors that the company will work to protect their interests. “As the pendulum swings back” from pandemic growth, FedEx Ground remains committed to working with each of you to find solutions,” Smith stated in an internal message.

The post FedEx Faces Delivery Contractor Pay Dispute as Pandemic Boom Fades appeared first on theprimarymarket.com.

The Omicron variant took hold of the fears of people all around the world when it emerged. While it didn’t spark the same level of panic that the coronavirus itself lent, it nevertheless took on its own version of that. And just like there was a large request for a vaccine the first time around, so too was the case for Omicron.

Moderna, the company responsible for making one of the more popular and supposedly effective COVID-19 vaccines, has worked tirelessly to try and roll out the Omicron variant. After lab reports showed that it had brought about a “strong immune response” in test subjects, the UK was the first country to jump on board.

“The first generation of COVID-19 vaccines being used in the UK continue to provide important protection against the disease and save lives,” June Raine, the Chief Executive of MHRA, said in a statement.

Raine continued: “What this bivalent vaccine gives us is a sharpened tool in our armoury to help protect us against this disease as the virus continues to evolve.”

The post UK First to Approve Moderna Omicron Vaccine appeared first on theprimarymarket.com.