Free Trial
US STOCKS

Late Equity Roundup: Mildly Lower on Week

USDCAD TECHS

Remains Above The 50-Day EMA

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
BEIJING (MNI)

China should diversify its investment destinations by strengthening ties with countries under the One Belt One Road initiative, a People's Bank of China official said at the Qvjiang Forum, adding that such a move would help counter unbalanced global development due to the Covid-19 pandemic.

China can transfer some of its lower-value-added and labour-intensive industries to OBOR countries, which can also be investment destinations for its large savings, said Zhou Yu, deputy director of international department of the PBOC, on Saturday. About 40% of China's outbound direct investment has gone to emerging markets, surpassing that of some developed economies, Zhou said.

Emerging markets, including OBOR countries, have been hit hard by the pandemic and greatly pressured by the extreme easing policies by developed economies so the growth gap between them and developed markets is expected to further widen, Zhou said. He also called for a widely accepted international rules framework for trade arrived at through negotiation and compromise and based on free trade agreements.

MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
True
MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
True

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.