Chinese shares logged strong gains on Thursday after the US Postal Service reversed its ban on mail and packages from China and Hong Kong.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.3% to 3,270.66. The Shenzhen Component Index jumped 2.3% to 10,393.63.
The USPS will now continue accepting international inbound mail and packages from China and Hong Kong, reversing a previously announced suspension. It said it will now work with the Customs and Border Protection to implement an efficient collection mechanism for the new tariffs to curb disruptions in package deliveries.
Meanwhile, China's foreign ministry spokesperson Lin Jian called for a dialogue "based on equality and mutual respect" between China and the US after US tariffs on all Chinese goods kicked in. With the European Union also facing potential US tariffs, Lin pushed for deeper cooperation with the bloc to tackle global challenges.
In company news, Bank of Ningbo (SHE:002142) posted net profit attributable to shareholders of 27.1 billion yuan in 2024, up 6.2% from 25.5 billion yuan the previous year. Shares of the bank closed more than 1% lower Thursday.
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