Gu Shu, president of the Industrial and Commercial Bank of China, said the drop in net profit is a result of the bank's efforts to increase support for the prevention and control of the pandemic, forgo part of its profit to stabilize the real economy, and speed up financial risk mitigation while abiding by the principle of conducting commercially sustainable businesses.
Globally, the monetary easing environment has raised financial asset prices and facilitated debt accumulation, while fragility of the financial system is rising, the PBOC said. Against that backdrop, risk factors may lead to a rise in risk aversion and threaten financial stability, which can affect the global economy.
Green light majors
Growth forecast for the euro area was revised upward from the July projection by 0.2 percentage point to 2.1 percent in 2017 and 1.9 percent in 2018.
Globally India is the second worst-hit country with 4,370,128 COVID-19 cases.
Government procurement in China to include homegrown processors
佛山排名优化
Greater foreign exchanges and broadened vision had also provided a positive role for Guangxi's development, they added.
Growth in East Asia and Pacific is projected to fall to 0.5 percent in 2020, the only region that could see growth this year, the report said. The Chinese economy is expected to grow by 1 percent this year.
Google does not want?to?become a retailer, but it does aspire?to become a major marketplace.
Goods are loaded onto a chartered cargo flight to Kuala Lumpur operated by Chinese logistics firm Cainiao Network Technology at Hangzhou International Airport, Zhejiang province, on March 31, 2020. [Photo/Xinhua]