(Yicai Global) Feb. 24 -- Below is a roundup of Yicai Global's top financial, business and market news in China last week.

On Feb. 19, gold futures for April delivery traded on the New York Mercantile Exchange closed 1.1 percent higher at USD1,603.6 per ounce, the highest since March 2013, amid expectations that central banks' demand for gold would increase due to investors' concerns of a slowing economy due to the COVID-19 outbreak.

On Feb. 21, Li Xingqian, director of foreign trade at China's Ministry of Commerce, said COVID-19 was severely challenging China's foreign trade operations. The sharp decline in import and export growth early this year will be manageable but should not be underestimated, he added.

On Feb. 22, the International Monetary Foundation's President Kristalina Georgieva said at the G20 Finance Ministers and Central Bank Governors Meeting that China was taking measures to mitigate COVID-19's impact on the economy and that growth should be back to normal in the second quarter with only a mild effect on the global economy.

On Feb. 20, the People's Bank of China published data showing China's broad money supply (M2) was CNY202.3 trillion (USD29 trillion) as of the end of January, up 8.4 percent annually. Total social financing was CNY5.1 trillion, up CNY388 billion from a year earlier.

On Feb. 21, FTSE Russell said it would add 141 Chinese mainland-listed shares and remove 54 from its FTSE Global Equity Index Series after markets closed on March 20. From then, Chinese mainland listed shares will have a 25 percent inclusion factor in the FTSE GEIS, up from 15 percent now.

The Shanghai Composite Index finished the week 4.2 percent higher at 3,039.67, while the Shenzhen Component Index ended 6.54 percent up at 11,629.7. The ChiNext Price Index climbed 7.67 percent through the week to 2,226.64. Turnover in Shanghai and Shenzhen totaled more than CNY1 trillion for three straight days starting Feb. 19.