Kim
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FILE PHOTO – South Korea’s President Moon Jae-in attends a news conference after a signing ceremony at the Peace Palace, in Phnom Penh, Cambodia, March 15, 2019. REUTERS/Samrang Pring
April 11, 2019
By David Brunnstrom
WASHINGTON (Reuters) – South Korean President Moon Jae-in will meet U.S. President Donald Trump on Thursday hoping to help put denuclearization talks with North Korea back on track after a failed summit between the United States and North Korean leaders in February.
Moon arrived in Washington late on Wednesday and is due to hold talks with U.S. Secretary of State Mike Pompeo, Trump’s national security adviser John Bolton and Vice President Mike Pence on Thursday morning before meeting the president at the White House shortly after midday.
Ahead of his trip, aides to Moon stressed the need to revive U.S.-North Korea talks as soon as possible after a second summit between Trump and North Korean leader Kim Jong Un collapsed in Hanoi on Feb. 28.
The White House has said Trump and Moon will discuss North Korea and bilateral issues, but U.S. officials have declined to provide details.
Moon has put his political reputation on the line in encouraging negotiations between the United States and North Korea aimed at persuading Kim to give up a nuclear weapons program that now threatens the United States.
Moon has stressed the need to offer North Korea concessions to encourage negotiations, but Washington appears to have hardened its position against a phased approach sought by Pyongyang in which gradual steps would be rewarded with relief from punishing sanctions.
The Hanoi meeting collapsed amid conflicting demands by North Korea for sanctions relief and U.S. insistence on its complete denuclearization.
On Thursday, North Korean state media said Kim had told a meeting of the ruling Workers’ Party of Korea on Wednesday that he would push forward with efforts to make the economy more self sufficient “so as to deal a telling blow to the hostile forces who go with bloodshot eyes miscalculating that sanctions can bring (North Korea) to its knees.”
Last month, a senior North Korean official warned that Kim might rethink a moratorium on missile launches and nuclear tests in place since 2017 unless Washington makes concessions such as easing economic sanctions.
“VIRTUOUS CYCLE”
Officials in Seoul were shocked by the breakdown of the Hanoi summit and some South Korean officials blame the influence of Bolton, a hardliner who has long advocated a tough approach to North Korea.
Moon had said he will use the meeting with Trump to discuss restarting U.S.-North Korea talks, advancing a peace process and creating a “virtuous cycle” of improving relations with Pyongyang. He said he hoped North Korea would respond positively.
Moon’s visit to Washington coincides with a scheduled meeting of North Korea’s rubber-stamp parliament and Pompeo said last week he hoped Kim would use the occasion to state publicly that “it would be the right thing” for Pyongyang to give up its nuclear weapons.
North Korea’s state media said on Wednesday that Kim had chaired a politburo meeting on Tuesday to discuss ways to make progress under the “prevailing tense situation.”
Pompeo said last week he was “confident” there would be a third summit between Trump and Kim and that while he did not have a timetable, he hoped it would be soon.
He said U.S.-North Korea diplomatic channels remained open and the two sides have “had conversations after Hanoi about how to move forward,” but he did not elaborate.
NECESSARY DETERRENT
Kim and Moon met three times last year and Kim promised to visit South Korea in return for the South Korean leader’s visit to Pyongyang in September. Analysts say a fourth Kim-Moon meeting could help towards another meeting between Kim and Trump.
Moon’s top nuclear envoy Lee Do-hoon said on Friday that sanctions were necessary to deter North Korea from “making bad decisions,” but could not solve all unresolved problems.
At a Senate hearing on Wednesday, Pompeo stressed that “core” U.N. sanctions would have to remain until North Korea’s complete denuclearization, but reiterated past statements that some easing might be possible if it took significant steps.
“I want to leave a little space there,” he said. “From time to time, there are particular provisions that if we were making substantial progress that one might think that was the right thing to do.”
He did not elaborate, but on Wednesday the State Department said Pompeo had met with the head of the U.N. food agency on Tuesday and discussed its initiatives to provide food aid to children, mothers, and disaster-affected communities in North Korea.
(Reporting by David Brunnstrom in Washington. Additional reporting by Joyce Lee, Josh Smith, and Hyonhee Shin in Seoul: Editing by Neil Fullick)
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Chinese banknotes are seen at a vendor’s cash box at a market in Beijing February 14, 2014. REUTERS/Kim Kyung-Hoon
April 11, 2019
By Stella Qiu and Se Young Lee
BEIJING (Reuters) – China’s factory-gate inflation picked up for the first time in nine months in March, edging away from deflationary territory, in a fresh sign that government efforts to boost the economy may be starting to revitalise domestic demand.
Consumer inflation also quickened, jumping to the highest since October 2018 as pork prices soared due to a growing epidemic of swine fever, official data showed on Thursday.
The step-up in producer inflation, while slight, will likely add to optimism that the world’s second-largest economy is slowly starting to turn the corner, after recent surveys showed factory activity expanded for the first time in months.
But analysts urge caution, saying it will take a few more months of better data and further policy support from Beijing to see if a recovery can be sustained.
China’s producer price index (PPI) in March rose 0.4 percent from a year earlier, in line with analysts’ forecasts in a Reuters poll and advancing from a 0.1 percent increase in February, the National Bureau of Statistics (NBS) said.
Most of the gain was in mining, with prices in extraction rising 4.2 percent on-year, up from 1.8 percent in February. Drops in raw material prices also moderated.
But improvements may have been due more to changes in commodity prices than stronger demand. Prices of consumer durables fell for a second month, pointing to lingering weakness in demand for big-ticket items such as cars and appliances.
“Looking ahead, we expect oil prices to fall back in the coming months. This will drag down PPI… Meanwhile, continued economic weakness is likely to keep a lid on broader price pressures,” said Julian Evans-Pritchard, Senior China Economist at Capital Economics.
On a monthly basis, producer prices increased for the first time in five months. The index inched up 0.1 percent, compared with a 0.1 percent decrease in February.
The world’s second-largest economy is growing at its weakest pace in almost three decades amid weaker domestic demand and a year-long trade war with the United States. Multi-year campaigns to curb debt risks and pollution have deterred fresh investment.
In response, Beijing plans more spending on roads, railways and ports, which is expected to push up demand for and prices of construction materials. Prices of steel reinforcing bars used in building hit 7-1/2 years highs this week.
Last month, the government announced nearly 2 trillion yuan (227 billion pounds) in additional tax cuts to ease the pressure on corporate balance sheets, while authorities are pressing banks to keep lending to struggling smaller firms.
Cuts in value-added tax (VAT) that kicked in on April 1 have already led authorities to reduce prices for electricity and natural gas. Retail gasoline and diesel prices are to be reduced as well.
A growing number of companies ranging from Apple Inc to BMW have lowered prices for their products following the tax cuts.
SWINE FEVER DRIVING UP PORK PRICES
The consumer price index (CPI) in March rose 2.3 percent from a year earlier, a five-month high, largely due to higher pork prices as the spread of African swine fever prompts farmers to cull their herds.
That was more than a 1.5 percent increase in February but just below market expectations for a 2.4 percent rise.
Pork prices rose 5.1 percent in March from a year earlier, the first increase after a 25-month declining streak.
On a month-on-month basis, CPI rose 1.2 percent.
Some analysts forecast pig production in China, which eats about half of the world’s pork, will fall by around 30 percent in 2019, which would send meat prices soaring.
But economists say the central bank is unlikely to overreact to a food price spike if it appears temporary and core inflation, which strips out volatile energy and food prices, remains steady.
Non-food consumer inflation was 1.8 percent on-year, just a touch more than February.
(Reporting by Stella Qiu and Se Young Lee; Editing by Kim Coghill)
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Apr 10, 2019; Tampa, FL, USA; Columbus Blue Jackets defenseman Seth Jones (3) celebrates with teammates after scoring the game winning goal against the Tampa Bay Lightning during the third period of game one of the first round of the 2019 Stanley Cup Playoffs at Amalie Arena. Mandatory Credit: Kim Klement-USA TODAY Sports
April 11, 2019
Seth Jones’ power-play goal late in the third period capped a thrilling rally, as the Columbus Blue Jackets erased a three-goal deficit and stunned the host Tampa Bay Lightning 4-3 on Wednesday in the opening round of the Stanley Cup Playoffs.
Jones scored his second career playoff goal when he rang a shot off the crossbar with 5:55 to play. He took a slick pass from Artemi Panarin and roofed the power-play goal to complete a spree of four unanswered goals, three of which came in the third period.
Josh Anderson had a goal and an assist, and Nick Foligno and David Savard also tallied for the Blue Jackets, who lost all three regular-season meetings with the Lightning by a combined score of 17-3.
In matchup of the two top goaltenders in games won this season, Columbus’ Sergei Bobrovsky made 26 saves while Andrei Vasilevskiy stopped 22 shots for the Lightning.
Tampa Bay, who won the Presidents’ Trophy and tied an NHL single-season record with 62 wins, led 3-0 after one period on goals by Alex Killorn, Anthony Cirelli and Yanni Gourde.
The Lightning blitzed the Metropolitan Division club in the opening 20 minutes.
Tempers flared early when Tampa Bay’s Dan Girardi blindsided Brandon Dubinsky at 2:55 of the first period. The two fought in the neutral zone, and Columbus’ Scott Harrington grappled with Cedric Paquette, who ended up pinned to the ice by Harrington.
However, Tampa Bay struck first when Jones bobbled the puck at the blue line on the power play, and Killorn stole it, raced in on a breakaway and beat Bobrovsky for a short-handed goal at 4:12.
Bobrovsky’s weak pass around the boards from behind his goal allowed Erik Cernak to get off a long blast, and Cirelli, who scored 19 goals in his rookie season, flipped in the rebound at 11:01.
Gourde tipped in a shot from the slot by Mikhail Sergachev at 17:50 for the three-goal advantage.
Foligno started the rally, beating Vasilevskiy on the blocker side off a breakaway for his seventh playoff marker at 9:15 of the second period to trim the deficit to 3-1.
Savard’s wrister on a quick rush at 7:56 of the third period cut it to 3-2.
Dubinsky’s double-minor for high-sticking Paquette at 9:23 had the Blue Jackets playing defensively on the penalty kill, but Anderson tied it with a short-handed goal at 11:54, setting the stage for Jones’ winner.
–Field Level Media
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Chinese banknotes are seen at a vendor’s cash box at a market in Beijing February 14, 2014. REUTERS/Kim Kyung-Hoon
April 11, 2019
BEIJING (Reuters) – China’s factory-gate inflation picked up for the first time in nine months in March, edging away from deflationary territory, in a fresh sign that government efforts to boost the economy may be starting to revitalize domestic demand.
Consumer inflation also quickened, jumping to the highest since October 2018 as pork prices soared due to a growing epidemic of swine fever, official data showed on Thursday.
The pick-up in producer inflation, while slight, will likely add to optimism that the world’s second-largest economy is slowly starting to turn the corner, after recent surveys showed factory activity expanded for the first time in months.
But analysts urge caution, saying it will take a few more months of data and more policy support from Beijing to see if a recovery can be sustained.
China’s producer price index (PPI) in March rose 0.4 percent from a year earlier, in line with analysts’ forecasts in a Reuters poll and advancing from a 0.1 percent increase in February, the National Bureau of Statistics (NBS) said.
Most of the gain was in mining, with prices in extraction rising 4.2 percent on-year, up from 1.8 percent in February. Drops in raw material prices also moderated.
But improvements may have been due more to changes in commodity prices than stronger demand. Prices of consumer durables fell for a second month, pointing to lingering weakness.
On a monthly basis, producer prices increased for the first time in five months. The index inched up 0.1 percent, compared with a 0.1 percent decrease in February.
The world’s second-largest economy is growing at its weakest pace in almost three decades amid weaker domestic demand and a year-long trade war with the United States. Multi-year campaigns to curb debt risks and pollution have deterred fresh investment.
In response, Beijing plans more spending on roads, railways and ports, which is expected to push up demand for and prices of construction materials. Last month, the government announced nearly 2 trillion yuan ($297.27 billion) in additional tax cuts to ease the pressure on corporate balance sheets.
Cuts in value-added tax (VAT) that kicked in on April 1 have already led authorities to reduce prices for electricity and natural gas. Retail gasoline and diesel prices are to be reduced as well.
A growing number of companies ranging from Apple Inc to BMW have lowered prices for their products following the tax cuts.
SWINE FEVER DRIVING UP PORK PRICES
The consumer price index (CPI) in March rose 2.3 percent from a year earlier, a five-month high, largely due to higher pork prices as the spread of African swine fever prompts farmers to cull their herds.
That was more than a 1.5 percent increase in February but just below market expectations for a 2.4 percent rise.
Pork prices rose 5.1 percent in March from a year earlier, the first increase after a 25-month declining streak.
On a month-on-month basis, CPI rose 1.2 percent.
Some analysts forecast pig production in China, which eats about half of the world’s pork, will fall by around 30 percent in 2019, which would send meat prices soaring.
But economists say the central bank is unlikely to overreact to a food price spike if it appears temporary and core inflation, which strips out volatile energy and food prices, remains steady.
Non-food consumer inflation was up 1.8 percent on-year, just a touch more than February.
(Reporting by Stella Qiu and Se Young Lee; Editing by Kim Coghill)
Source: OANN
FILE PHOTO: A man looks on in front of an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China February 13, 2019. REUTERS/Stringer
April 11, 2019
By Swati Pandey
SYDNEY (Reuters) – Asian stocks held near eight-month highs on Thursday and the dollar slipped again on expectations global interest rates will stay lower for longer after a dovish turn by the European Central Bank and milder than expected U.S. inflation.
The British pound was little changed after European leaders agreed to extend the deadline for UK to leave the union to the end of October, averting a potential crash out of the bloc on Friday with no divorce deal.
But investors’ risk appetite was generally capped by U.S. threats earlier this week to slap tariffs on goods from the European Union.
MSCI’s broadest index of Asia-Pacific shares outside Japan paused after four straight days of gains but held near its highest since last August.
Japan’s Nikkei eased 0.2 percent as the yen strengthened.
Overnight, European and U.S. shares gained. On Wall Street, the S&P 500 added 0.35 percent, the Nasdaq climbed 0.7 percent while the Dow was barely changed.[.N]
“There were big worries last year that central banks globally are moving towards policy tightening. Those fears have reversed now,” said Shane Oliver, chief economist at AMP.
“There have also been easings in Asia. That is a reasonably positive backdrop for equities,” Oliver added.
“The complication is the growth slowdown.”
On Wednesday, the European Central Bank (ECB) kept its loose policy stance and warned that threats to global economic growth remained. The ECB has already pushed back its first post-crisis interest rate hike, and President Mario Draghi raised the prospect of more support for the struggling euro zone economy if its slowdown persisted.
In response, European bank stocks declined and the yield on Germany’s benchmark 10-year bond fell to a one-week low of negative 0.039 percent.
Separately, data showed U.S. consumer prices increased by the most in 14 months in March but underlying inflation remained benign against a backdrop of slowing global economic growth.
Minutes from a March 19-20 meeting of Federal Reserve policymakers showed they agreed to be patient about any changes to its interest rate policy as they saw the U.S. economy weathering a global slowdown without a recession in the next few years.
U.S. Treasury yields slipped in response, reinforcing expectations that the Fed would hold rates steady or possibly cut them by the end of the year.
However, AMP’s Oliver said some encouraging economic signs were now emerging, helped by the “great retreat” on policy by global central banks, fiscal stimulus in China and progress in Sino-U.S. trade talks.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday the United States and China have largely agreed on a mechanism to ensure that both sides stick to the deal, including establishing new “enforcement offices.”
Investors will next focus on inflation data from China at 0130 GMT. A weak number could raise fears of deflation spreading across the world, while a pick-up could add to optimism that government support measures are slowly beginning to percolate through the economy.
In currencies, the dollar index fell for a fourth straight day to 96.909. The euro was barely changed at $1.1278 while the Japanese yen paused after three days of gains at 111.03.
Sterling traded at $1.3095, unchanged on the day and staying in a triangle holding pattern between $1.2945 and $1.3380 during the past month or so.[FRX/]
In commodities, Brent futures eased 14 cents to $71.59 a barrel. U.S. crude dipped 24 cents to $64.37.
Gold hovered near a two-week top on Thursday at $1,307.795 an ounce as investors fretted about the global economy and trade tensions.
(Editing by Kim Coghill)
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FILE PHOTO – North Korean leader Kim Jong Un gestures during a Central Committee of the Worker’s Party meeting in Pyongyang, North Korea in this photo released on April 9, 2019 by North Korea’s Korean Central News Agency. KCNA via REUTERS
April 10, 2019
SEOUL (Reuters) – North Korean leader Kim Jong Un said his country needs to deliver a “serious blow” to those imposing sanctions through a self-reliant economy, North Korean state media Korean Central News Agency (KCNA) said on Thursday.
KCNA said Kim stated North Korea’s position on the second U.S.-North Korea summit that took place recently, saying, “We must deal a serious blow to the hostile forces who are mistakenly determined to bring us down with sanctions by advancing the socialist construction to a high level of self-reliance that fits our circumstances and state, based on our own power, technology and resources.”
North Korea is expected to convene a session of its legislature, the Supreme People’s Assembly, on Thursday, while U.S. President Donald Trump is expected to hold a summit with South Korean President Moon Jae-in later on Thursday.
(Reporting by Joyce Lee; Editing by Leslie Adler)
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FILE PHOTO: Kim Kardashian attends the CFDA Fashion awards in Brooklyn, New York, U.S., June 4, 2018. REUTERS/Shannon Stapleton
April 10, 2019
LOS ANGELES (Reuters) – Reality star Kim Kardashian is studying to be a lawyer, inspired by her success in helping to win the release from U.S. prisons of two women.
Kardashian told Vogue magazine in an interview published on Wednesday that she has begun a four-year apprenticeship with a San Francisco-based law firm under a California program for those without formal qualifications. Kardashian, who dropped out of college, said she aims to take the bar exam in 2022.
The “Keeping Up With the Kardashians” star said she made the decision last summer after visiting the White House and persuading President Donald Trump to commute a life sentence handed out to a 63-year-old woman in Tennessee for a first drug offense.
“I just felt like I wanted to be able to fight for people who have paid their dues to society. I just felt like the system could be so different, and I wanted to fight to fix it, and if I knew more, I could do more,” Kardashian, 38, told Vogue.
Kardashian helped to win clemency in January for another woman in Tennessee who had been convicted as a teenager of murdering a man who paid to have sex with her.
Kardashian said her first year of the apprenticeship involved studying three subjects: criminal law, torts and contracts.
“To me, torts is the most confusing, contracts the most boring, and crime law I can do in my sleep. Took my first test, I got a 100. Super easy for me,” she told Vogue. “The reading is what really gets me. It’s so time-consuming. The concepts I grasp in two seconds.”
While best known for developing beauty and fashion products and showcasing her life with her sisters on the TV show “Keeping Up With the Kardashians,” Kardashian has some powerful legal DNA.
Her late father, Robert Kardashian, was a prominent Los Angeles lawyer who was part of the legal team representing football star O.J. Simpson in his 1995 trial and acquittal for double murder.
(Reporting by Jill Serjeant; Editing by Leslie Adler)
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FILE PHOTO: Lyft supporters gather for the Lyft IPO as the company lists its shares on the Nasdaq in the first-ever ride-hailing initial public offering, in Los Angeles, California, U.S., March 29, 2019. REUTERS/Mike Blake/File Photo
April 10, 2019
(Reuters) – Shares of recently listed Lyft Inc fell to a fresh low and closed the day down almost 11 percent on Wednesday on news that rival Uber Technologies Inc was close to filing its own initial public offering.
In ride-hailing company Lyft’s ninth day of trading its shares clocked their lowest closing price since going public on March 29. And the $60.12 close was 16.5 percent below Lyft’s final IPO price of $72 and even under the low end of its initial price target range of $62 to $68.
Reuters reported late Tuesday that rival Uber would seek to sell around $10 billion worth of stock in an IPO, and file the offering with regulators as soon as Thursday. Uber declined to comment for the report which cited unnamed people familiar with the matter.
“It’s not a coincidence that the day before Uber was expected to make a filing that investors are immediately contrasting it to Lyft and Lyft looks less attractive,” said Matt Moscardi, analyst at MSCI in Boston.
For example, heavy betting by short sellers against Lyft may be leaving investors anxious about Lyft’s valuation, Moscardi said.
It could also work in Uber’s favor that it is now expected to seek a valuation of $90 billion to $100 billion, below the $120 billion investment bankers previously told the company it could be worth, according to the Reuters report.
Uber may also have better name recognition, said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. “It could be that people are anticipating the Uber IPO. When you go somewhere do you Lyft? Uber has become a verb.”
After the close of trading on Wednesday, Lyft announced that it would release financial results for its first fiscal quarter ended March 31 after the market closes on May 7.
(Reporting By Sinéad Carew; Editing by Richard Chang)
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A video statement made by the former Nissan Motor chairman Carlos Ghosn is shown on a screen during a news conference by his lawyers at Foreign Correspondents’ Club of Japan in Tokyo, Japan April 9, 2019. REUTERS/Issei Kato
April 10, 2019
TOKYO (Reuters) – Carlos Ghosn’s defense lawyers filed their second appeal against his latest detention on Wednesday, Kyodo news reported, as the ousted chairman of Nissan Motor Co seeks a formal explanation for his re-arrest.
In a highly unusual move, Ghosn was re-arrested on Thursday on fresh allegations that he used company funds to enrich himself by $5 million, after he had been released on bail for 30 days after paying $9 million.
He already has been charged with under-reporting his Nissan salary for a decade and of temporarily transferring personal financial losses to Nissan’s books.
(Reporting by Makiko Yamazaki and Naomi Tajitsu; Editing by Kim Coghill)
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Containers and trucks are seen on a snowy day at an automated container terminal in Qingdao port, Shandong province, China December 10, 2018. REUTERS/Stringer
April 10, 2019
BEIJING (Reuters) – China’s exports are expected to have rebounded in March after a sharp drop in February, while imports likely shrank for a fourth straight month but at a more modest pace, a Reuters poll showed.
If Friday’s data are in line with forecasts or better, it could add to early signs of stabilization in the world’s largest trading nation as worries grow over slowing global growth.
But veteran China watchers said the gains may be due more to seasonal factors than a turnaround in lackluster global demand, with shipments likely to jump after long Lunar New Year holidays had dampened business activity in February.
Exports in March are expected to have risen 7.3 percent from a year earlier, according to the median estimate of 32 economists in a Reuters poll, following a 20.8 percent drop in February.
“This distortion is particularly strong in early March but no longer around in the second half of the month as the impacts of the festival normally last for less than a month,” analysts at Goldman Sachs said in a note.
China’s Commerce Ministry said recently that both exports and imports had rebounded in the first half of March.
Factory surveys for March also provided some glimmers of hope on the export front. While export orders remained sluggish, there were some signs that a long spell of contraction is easing.
“We do not expect a distinct pick-up in exports in the coming months as the recovery of the global economy is slowing down and a relatively strong yuan currency is expected to cap the rise,” said Nie Wen, an economist at Hwabao Trust in Shanghai.
U.S. and Chinese negotiators wrapped up their latest round of trade talks last week and were scheduled to resume discussions this week to try to secure a pact that would end a tit-for-tat tariff battle that has disrupted global supply chains and roiled financial markets.
A top White House official said on Monday the U.S. side is “not satisfied yet” about all the issues standing in the way of a deal to end the U.S.-China trade war, but said progress was made in talks last week.
President Donald Trump said last week that a deal could be reached in about four weeks.
The global economy is slowing more than expected and a sharp downturn could require world leaders to coordinate stimulus measures, the International Monetary Fund said on Tuesday as it cut its forecast for 2019 world economic growth for the third time.
But the IMF edged up its outlook for Chinese growth to 6.3 percent this year, in part because the Sino-U.S. trade war had not escalated as much as feared.
WEAK IMPORTS
China’s imports in March are expected to have fallen 1.3 percent from a year earlier, though the drop was seen narrowing from the previous month’s 5.2 percent decline.
Factory activity surveys had shown an unexpected return to growth last month, suggesting domestic demand was starting to respond to a slew of government economic support measures.
Still, most of the poll respondents penciled in a contraction in imports, with the lowest forecast projecting a 18.2 percent drop.
“Ramped up infrastructure investment has lifted imports last month, but factories restocking demand likely stayed weak as fears about the medium- to long- term economic outlook remained,” Nie said.
Policymakers have acknowledged the economy is under pressure as multi-year debt and pollution crackdowns have deterred investment, while the U.S.-China trade war is hurting China’s export sector, threatening even more jobs.
In response, Beijing has announced more spending on roads, railways and ports, along with trillions of yuan of tax cuts to ease pressure on corporate balance sheets and avert a sharper economic slowdown.
Investors are closely watching to see how long it will take those support measures to take hold, which could lift some of the gloom hanging over the global economy. But analysts believe China will still need to loosen policy further in coming months to ensure a sustained economic turnaround.
China’s overall trade surplus is seen to have expanded to $7.05 billion in March from $4.08 billion the previous month, according to the Reuters poll.
(Reporting by Lusha Zhang and Beijing Monitoring Desk; Editing by Kim Coghill)
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