Xinhua world economic news summary at 0900 GMT, Jan. 17

Xinhua
17 Jan 2021, 15:14 GMT+10

HONG KONG -- Paul Chan, financial secretary of the Hong Kong Special Administrative Region government, said here on Sunday that the jobless rate in Hong Kong will climb further as businesses and workers are still struggling amid the COVID-19 pandemic.

Chan said in an online article that the unemployment rate during the October-December period will continue to spike and even surpass the 16-year high, a level reached recently. (Hong Kong-Economy)

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BEIJING -- The National Development and Reform Commission, China's top economic planner, has approved the construction of a high-speed railway in north China.

The 342-km rail line with 12 stations will link the Xiong'an New Area, China's "city of the future" in Hebei Province, with the city of Xinzhou in Shanxi Province. (China-Xiong'an-High-speed Rail)

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NEW YORK -- Wall Street's major averages decreased in the week as investors digested President-elect Joe Biden's proposed COVID-19 aid plan and a slew of lackluster economic data.

For the week ending Friday, the Dow fell 0.9 percent, while the S&P 500 and the Nasdaq both lost 1.5 percent. (US-Stocks-Weekly Loss)

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