Top US and Chinese negotiators will meet face-to-face next week for the first time since Presidents Donald Trump and Xi Jinping agreed to revive talks to end their year-long trade war. The talks will be carried out on the basis of equity and mutual respect, China's Ministry of Commerce spokesman Gao Feng said during a press conference, confirming the White House's announcement on Wednesday and media reports earlier this week.
The governments of the world's largest economies have levied billions of dollars of tariffs on each other's imports, disrupting global supply chains and shaking financial markets in their dispute over how China does business with the rest of the world.
All but two of the 25 stocks listed on the newly launched STAR technology board in Shanghai continued to rise. Suzhou TZTEK Technology, a developer of automated warehouse and logistics systems, led the advance with a 15% gain to 50.5 yuan. Turnover in the STAR stocks reached 29 billion yuan (US$4.2 billion), up from the 23 billion recorded Wednesday.
CURRENCY NEWS: China yuan depreciated against greenback on Thursday, despite firmer midpoint fixing by central bank ahead of U.S.-China trade talks set for next week, keeping it on a relatively stable path against the dollar. Before the market open, the PBOC set the midpoint of the yuan's daily trading band at 6.8737 per dollar, 0.18% firmer than the previous fix of 6.886. In the spot market, onshore yuan eased 0.04% to 6.8755 per dollar.
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