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As of Sunday -- only the 38th day of this year, China had handled more than 10 billion parcels, marking a new record in the express delivery industry, the State Post Bureau of China said on Monday. Last year, it took 80 days to handle 10 billion parcels and in 2019, it took 79 days. The new record shows the vitality of the industry, which plays an important role in promoting consumption and facilitating economic flow, the bureau said. To curb the resurgence of COVID-19, Chinese people are encouraged to avoid unnecessary travel and stay where they work and live to celebrate the upcoming Spring Festival. The holiday, which falls on Feb 12, is the most important festival for family reunion in China. Deliveries to and from hometowns have become a new trend this year for people to show their love and care for family and friends, creating a large domestic market for the express delivery industry. According to the bureau, since Jan 20, the value of online sales has surpassed more than … [Read more...] about New express delivery record set for 10b parcels in 38 days

The Bank for Investment and Development of Vietnam leads the banking system in terms of assets with total assets of VND1.1 quadrillion. — Photo BIDV Viet Nam has 11 banks with total assets of more than US$10 billion each, of which three have total assets exceeding VND1 quadrillion ($44 billion) each, financial reports from the banks showed. The Bank for Investment and Development of Vietnam (BIDV) tops the list with total assets of VND1.1 quadrillion. The other two banks which also have total assets exceeding VND1 quadrillion are VietinBank and Agribank. VietinBank recently joined the VND1 quadrillion club, while Agribank had assets hitting the level late last year. Eight other banks that have total assets of more than $10 billion are Vietcombank, SCB, Sacombank, Military Bank, ACB, SHB, VP Bank and Techcombank. The financial reports also showed that the banks’ business performance in the first half of this year was optimistic with SCB being the only bank reporting a profit … [Read more...] about 11 Vietnamese banks have assets of over $10b

The daily reference exchange rate was adjusted up again on July 31. — Photo VNA The State Bank of Vietnam (SBV) could sell from US$4-10 billion to commercial banks this year to stabilise the foreign exchange market if necessary, HCM City Securities Corporation (HSC) forecast. According to HSC’s latest report, after selling $2 billion in recent weeks, the SBV was closely monitoring the market and was ready to intervene again. HSC analysts believed that the SBV would pursue a flexible policy to stop the rising US dollar/dong exchange rate rather than reducing the rate. HSC also kept its previous forecast unchanged that the US dollar would strengthen by 3 per cent against the dong this year if the ICE US dollar index fluctuated at around 94-97 points and the US dollar/yuan exchange rate was set at around 6.8-7 points from now to the end of this year. HSC noted that it would revise the forecast if one of the two above assumptions did not materialise. However, it … [Read more...] about Central bank may sell $4-10b to stabilise forex market: HSC

Việt Nam and Russia have agreed to effectively implement the Việt Nam-Eurasian Economic Union Free Trade Agreement in order to create breakthroughs in economic, trade and investment ties between the two countries, gearing towards bilateral trade of US$10 billion in 2020.— VNA/VNS Photo Thanh Vũ HCM CITY — Việt Nam and Russia have agreed to effectively implement the Việt Nam-Eurasian Economic Union Free Trade Agreement in order to create breakthroughs in economic, trade and investment ties between the two countries, gearing towards bilateral trade of US$10 billion in 2020. The consensus was reached during the 20th meeting of the Việt Nam-Russia Intergovernmental Committee for Economic-Commercial and Scientific-Technological Co-operation in HCM City yesterday. The event was co-chaired by Deputy Prime Minister Trịnh Đình Dũng and his Russian counterpart Igor Ivanovich Shuvalov. The annual meeting of the committee aims to materialise political commitments and determination of … [Read more...] about VN, Russia aim for $10b trade in 2020

President Trần Đại Quang (right) and his Indonesian counterpart Joko Widodo toast the fruitful relationship between Việt Nam and Indonesia. — VNA/VNS Photo Nhan Sáng Viet Nam News HÀ NỘI — President Trần Đại Quang and his Indonesian counterpart Joko Widodo agreed to strive to bring two-way trade to US$10 billion towards a trade balance during their talks in Hà Nội yesterday. Quang welcomed the first Việt Nam visit by Widodo saying he believed it would contribute to further promoting the traditional friendship and strategic partnership between the two countries. Discussing bilateral ties, the two Presidents stressed the need to further deepen the partnership in a more practical and effective way especially, in the context of deep changes in the Asia-Pacific region in general and the Association of Southeast Asian Nations (ASEAN) in particular. Both sides agreed to increase all-level visits via the State, government, National Assembly channels and people-to-people exchange; … [Read more...] about Việt Nam, Indonesia look to lift two-way trade to $10b