ATI Newswire - Subscriber Only

BEIJING - China's State newsagency, Xinhua, is quoting local authorities as saying the city of Beijing has so far built 21,086 5G base stations.

"The number of 5G users in the city has exceeded 3.1 million since the city officially kicked off 5G commercial use in 2019," Xinhua reports.

BEIJING - China's imports fell more than expected in May. due to shrinking commodity imports and reduced trade flows from its major markets including EU and the US.

HONG KONG -- The COVID-19 outbreak should slow China's economic growth to just 1.2% this year, prompting a rapid expansion in credit, says ratings agency Standard and Poor's.

"This will escalate China's debt-to-GDP ratio, which we estimate will rise 24% to 273% in 2020," S&P says, pointing out that while GDP slowdowns typically lead to credit expansion in China, S&P believes this crisis may be different in terms of how aggressively China may restore debt discipline.

NEW DELHI -- Moody's has downgraded India's foreign and local currency long-term issuer ratings to Baa3, the lowest investment grade rating. The rating outlook is maintained at negative, reflecting 'deeper stresses in the economy'. 

SINGAPORE -- Seven weeks after the introduction of a third stimulus package to mitigate economic shock brought about by the COVID-19 pandemic,  the Singapore Government has unveiled a fourth fiscal package worth SGD 33 billion.

BEIJING - Chinese business media is reporting that US reaction to proposed new security laws for Hong Kong does not strike at Beijing to the degree that some had feared earlier, such as unravelling Phase One of the US/China trade deal.

BEIJING - China is continuing to push the concept of a Free Trade Agreement with Japan and South Korea. China's state newsagency, Xinhua, quotes Chinese Premier Li Keqiang as saying the three countries are "working closely together" to advance their free trade agreement (FTA) development.