Xinhua world economic news summary at 0900 GMT, Aug. 8

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WASHINGTON -- A number of influential U.S. business groups are urging the U.S. government to "restart trade talks with China" and address "burdensome" tariffs from the U.S.-China trade war, the New York Times has reported.

In a letter to the United States Trade Representative and the Treasury Department, the industry groups asked President Joe Biden's administration to "cut tariffs on Chinese-made goods that had remained in place after the start of the bruising trade war between the two countries," said the newspaper on Friday. (China-U.S.-Trade)

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BEIJING -- China's foreign trade maintained upward momentum in the first seven months of the year. Both exports and imports registered double-digit growth, customs data showed Saturday.

The country's total imports and exports expanded 24.5 percent year on year to 21.34 trillion yuan (about 3.3 trillion U.S. dollars) from January to July, data from the General Administration of Customs showed. (China-Foreign Trade)

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JAKARTA -- The No. 10 tunnel of the Jakarta-Bandung High Speed Railway in Indonesia was completed, the railway's operator said on Saturday.

A statement released by KCIC, a joint venture consortium between Chinese and Indonesian state-owned firms that runs the 142.3-km HSR, said the completion on Friday laid a solid foundation for the completion and opening of the whole railway line. (Indonesia-Railway)

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ULAN BATOR -- Mongolia's central bank said that it had purchased 11 tons of gold from legal entities and individuals so far this year, according to local media on Saturday.

As of July, the bank's average gold purchase price was 164,862.22 Mongolian tugriks (around 58 U.S. dollars) per gram, the Bank of Mongolia said in a statement. (Mongolia-Central Bank-Gold) Enditem

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