In response to a supply shortage of cobalt, a key ingredient used in lithium-ion batteries, South Korean battery makers Samsung SDI and LG Chem are stepping up development of new batteries and diversifying their material suppliers.
China is the world's largest holder of foreign exchange reserves. It has over two and half times more foreign reserves than the second largest reserve holder, Japan.
But monetary easing measures propping up the world's third-largest economy will remain in place.
Samsung Electronics announced Tuesday it will ramp up production of its 8-gigabyte high bandwidth memory-2, known as HBM2, to meet growing demand across a wide range of applications including artificial intelligence, high-performance computing, advanced graphics, network systems and enterprise servers.
Established by Taiwan Glass Industrial Corp., Taichia Chengdu Glass Fiber Co. in Sichuan province is a key glass fiber manufacturing base in western China.
Growth of 6.9 percent was fueled by consumer spending and trade, the country's statistics bureau says.
Japan's exports increased 14.9 percent from a year earlier to 5.85 trillion yen (US$52.7 billion) in May, marking the sixth straight month of increase, the government said Monday.
The U.S. imports more from Asian countries than it exports and as per available data the U.S. runs trade deficits with most of Asian countries except Singapore. The U.S. has trade surplus of US$8 billion with Singapore.
China's move to blacklist Korean food and cosmetics firms add woes to the already hurt businesses.
China's economy is expected to grow by 6.7 per cent this year and can "safely sustain strong growth" over the medium term, a report by the International Monetary Fund (IMF) said Wednesday, while urging the country to accelerate reform across various sectors.