Mass media in China

Global stock markets and Wall Street futures advanced yesterday after the downturn in China's service industries eased and news reports said the Biden administration might lift U.S. tariffs on some Chinese imports.

London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong advanced. Oil prices gained to stay close to $120 per barrel.

China and the U.S. have agreed to ease restrictions on each other's media workers amid a slight relaxation of tensions between the two sides.

The official China Daily newspaper on Wednesday said the agreement was reached ahead of Nov. 16's virtual summit between Chinese leader Xi Jinping and U.S. President Joe Biden.