The Korean business community here has been paying close attention to Chinese markets.
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“There is a possibility a capital outflow from newly emerging market countries and financial market volatilities will expand if a US rate hike and China’s economic slowdown take place simultaneously”, it said.
“China’s slowdown is at a gradual pace”, Li said.
Factories reported a renewed increase in new export orders, which in turn helped soften the contractions in employment and output, resulting in the index’s slowest rate of decline in four months, Caixin said Monday.
Li is on an official visit to South Korea and attended the first summit of the leaders of South Korea, Japan and China in more than three years on Sunday.
In addition, Li vowed to establish a platform to facilitate direct currency exchange between the Chinese renminbi and the Korean won to drive down transaction costs and boost investments, as well as build up a joint investment fund to strengthen the two countries’ footing in the global finance sector. “Regarding the issue of “comfort women”, I believe we should not leave behind difficulties for future generations as we try to build a future-oriented cooperative relationship”, Abe told reporters in Seoul after the talks, which lasted about an hour and 40 minutes.
Li called on the three countries to make commitment to the world in the 70th anniversary of the victory of the anti-fascist war to firmly advance trilateral cooperation, so as to contribute to regional peace and stability.
“Though there may be many fluctuations in economic markers, there will not be major shocks”. The Chinese government and its people have an ability to reasonably maintain the economy.
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The official PMI released by the National Bureau of Statistics is weighted toward China’s larger, state owned enterprises while the Caixin survey is geared to smaller, private enterprises in China’s manufacturing industry, which employs tens of millions.
