Xinhua News Agency reported that after a video call between Chinese Vice Premier Liu He and U.S. Treasury Secretary Yellen on Wednesday, both sides agreed that the Sino-US economic relationship is very important. The bilateral cooperation has conducted extensive exchanges, and frankly exchanged views on issues of mutual concern, and are willing to continue to communicate. This is after the meeting between Vice Premier Liu He and US Trade Representative Dai Qi last week, high-level officials from China and the United States have contacted again, but the market barely sees that the two sides reach a consensus on specific topics. In addition, the use of the word “frank” by the mainland media may imply that the two sides still have large differences of opinion.
The Australian Bureau of Statistics announced that the local gross domestic product (GDP) in the first quarter increased by 1.8% quarter-to-quarter, which was higher than market expectations of 1.5%, but slowed down from the 3.1% growth in the previous quarter. If calculated at an annual rate, Australia’s GDP will grow by 1.1%, reversing the 1.1% decline in the previous quarter, and the growth rate is also better than the 0.6% expected by the market. During the period, consumption and corporate spending together contributed 1% to GDP, while housing construction and sales also contributed 0.5%. It reflects that the low interest rate environment continues to drive the local post-epidemic recovery. In addition, the figures also show that the local economic performance has exceeded the level before the pandemic.
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