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Foreign orders for Chinese face masks continue to pour in

Orders for 100 million surgical masks from Europe and Canada have failed to find Chinese suppliers for weeks, as many Chinese factories are scrambling to complete orders of KN95 masks with higher profit margins, according to industry insiders.
Source: Global Times | 2020/5/21 17:33:40

Wuhan authority bans cashing in consumption vouchers, may discredit violators through blacklist

Residents and merchants in Wuhan, Central China's Hubei Province are now forbidden from cashing in consumption vouchers issued by local government and major online platforms, the commerce bureau of Wuhan announced on Wednesday.
Source: Global Times | 2020/5/21 13:43:40

China should aim for a 6% GDP growth in 3 years instead of setting an annual target: govt adviser

China should aim to return to a growth rate of around 6% within the next two to three years instead of setting an annual growth rate for each year to lift the Chinese economy back on the right path, as it faces huge uncertainty largely from overseas, according to an economic advisor to the Chinese government.
Source: Global Times | 2020/5/21 13:03:40

Southwest China leads aviation recovery

For frequent business and tourism flyers, who have longed to start traveling again – a lifestyle choice increasingly popular among Chinese people -- there's been nothing more annoying than the coronavirus outbreak.
Source: Global Times | 2020/5/20 20:58:40

Overseas firms boost investment in Wuhan after coronavirus hit

Some overseas companies are moving to expand investment in Wuhan, Central China's Hubei Province, not long after the city ended months of lockdown and endured a heavy Covid-19 death toll, as foreign enterprises are attracted by the area's market potential and favorable policies by the local government.
Source: Global Times | 2020/5/20 19:43:40

Businesses anticipate broader opening of finance, healthcare

As the global economy struggles amid the raging Covid-19 pandemic, China is expected to send a positive signal during this year's two sessions to strengthen the confidence of foreign investors, global business representatives said Wednesday.
Source: Global Times | 2020/5/20 18:33:40

China urges US to remove illegal sanctions on Chinese logistics firm

China urges the US to immediately remove illegal sanctions imposed on Shanghai Saint Logistics Limited, adding the government will firmly commit itself to safeguarding the legitimate rights and interests of its companies, the foreign ministry said on Wednesday.
Source: Global Times | 2020/5/20 18:22:27

Economic decoupling is bad prescription: CPPCC spokesperson

Advocacy of economic decoupling is not “good prescription”, a spokesperson for China's top political advisory body said on Wednesday, raising an outcry against rising trade and technology protectionism.
Source: Global Times | 2020/5/20 18:08:40

All provinces in China are asked to set up P3 lab: ministries

China's economic planner, the National Development and Reform Commission (NDRC), and two other government ministries on Wednesday issued a plan that requires every province in China to set up at least one P3 lab, and major cities to have at least one P2 lab, as part of the nation's efforts to improve its testing ability for pathogens and health hazards.
Source: Global Times | 2020/5/20 16:33:40

Issues involving China's industrial chain should not be 'overly politicized': official

Issues involving China's industrial chain should not be “overly politicized” and foreign companies' supply chain decisions are based on economic rules rather than the will of an individual, Chinese officials said on Wednesday.
Source: Global Times | 2020/5/20 12:13:33

World Bank report reaffirms China's standing as the world's largest developing economy

China is still the largest developing country in the world, as shown by latest World Bank report, the National Statistical Society of China (NSSC) said late on Tuesday.
Source: Global Times | 2020/5/20 11:53:40

China paves way for countermeasures against US crackdown

China published sweeping guidelines to improve the country's "socialist market economy," which include instructions for accelerating market reform and opening-up as well as refining national security reviews and setting up an "unreliable entity list", to better supervise foreign companies' investment in the country.
Source: Global Times | 2020/5/19 22:16:49

China achieves all 2019 quantitative targets, but tough tasks lie ahead

As China's annual “two sessions” will kick off on Thursday, the State Council, the country's cabinet, revealed on Tuesday that all the 38 quantitative targets listed in the 2019 government work report have been achieved.
Source: Ma Jingjing | 2020/5/20 0:04:22

Greater Bay Area could designate sites to house HK residents: DAB

The Guangdong-Hong Kong-Macao Greater Bay Area could consider creating two landfill sites in South China's Guangdong Province for new housing, mainly for Hong Kong residents, according to attendees of the upcoming two sessions from the Hong Kong Special Administrative Region (HKSAR).
Source: Global Times | 2020/5/19 21:58:35

Digitalization can empower SMEs, create jobs

Providing jobs and helping small and medium-size enterprises (SMEs) weather the shock of the COVID-19 pandemic have become key issues for China, and those issues are attracting much attention ahead of the upcoming two sessions that start on Thursday.
Source: Global Times | 2020/5/19 20:03:40

Replacing China in supply chains 'not possible', says European chamber

The coronavirus pandemic is unlikely to produce an exodus out of the Chinese market, and replacing China in global supply chain is impossible to materialize, a European business representative told the Global Times.
Source: Global Times | 2020/5/19 18:58:41

China likely not to set numerical GDP growth target: GT poll

One of the most closely watched aspects of China's two sessions each year is the release of the official target for GDP growth, a reliable indicator of where the world's second-largest economy is headed.
Source: Global Times | 2020/5/19 18:19:29

Chartered flights to bring Chinese students home not approved by US yet: FM

Chartered flights planned by Chinese airlines to repatriate Chinese students from the US are postponed as the US has not approved their applications, the Chinese Foreign Ministry said on Tuesday during a daily press briefing.
Source: Global Times | 2020/5/19 18:13:41