Xinhua world economic news summary at 0900 GMT, July 18

BEIJING — China’s State Council has recently released a regulation on ensuring timely payments to small and medium-sized enterprises (SMEs), which will help improve the business environment, officials said.

The central authorities gave high attention to the problem of overdue payments to SMEs, officials with the Ministry of Justice and the Ministry of Industry and Information Technology said. (China-Business-SME)

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WASHINGTON — China’s economic growth is likely to benefit Southeast Asian nations as the country commands a “lion’s share” of regional exports, CNBC quoted an economist as saying on Thursday.

Wellian Wiranto, an economist at OCBC Bank, said, “The fact that China commands a lion’s share of ASEAN exports … takes on extra importance now,” referring to the Association of Southeast Asian Nations (ASEAN), according to the report. (China-ASEAN-Economy-Recovery)

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WASHINGTON — Former U.S. Federal Reserve chiefs Ben Bernanke and Janet Yellen on Friday urged Congress to pass another COVID-19 relief bill as the pace of U.S. economic recovery could be slow and uneven.

At a hearing before the House Select Subcommittee on the Coronavirus Crisis, the two former Fed chiefs warned that the United States could face deep, permanent economic damage without further relief packages. (US-Economy)

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SHENZHEN — Shenzhen Bao’an International Airport resumed its regular international passenger flights on Friday after an over three-month suspension of its international flights due to the COVID-19 epidemic.

The airport suspended all the international passenger flights since the end of March in accordance with the requirements of the Civil Aviation Administration of China. (China-Shenzhen-International flights).

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