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China Repo Rates Rise on Tuesday

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Premier Li Keqiang's video conference with UK business leaders on Tuesday, the first formal bilateral business communication this year, will help the UK expand ties with China to cushion its withdrawal from the EU and elevate UK's global influence, the state-run Global Times said. While Britain will follow the U.S. to make things difficult for China, relations between China and the UK could become more "balanced and mature," as the Boris Johnson government will balance between political dependency on Washington and economic relations with Beijing, and may seek to lift relations with China, the newspaper said. Premier Li urged the UK to provide a fair business environment for Chinese firms investing in the UK, at a time when Chinese semiconductor company Nexperia awaits the UK's approval for its acquisition of UK's largest chip maker Newport Wafer Fab (NWF). the Times reported.