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China encourages foreign investment in more sectors, focuses on stable and self-controlled industry chains


China has significantly increased the number and type of items on its newly revised industry catalogue, released on Monday, to encourage foreign investment.


China's top financial regulatory authorities including the central bank, summon Ant Group for talks on Saturday

China's central bank, Banking and Insurance Regulatory Commission, Securities Regulatory Commission, and Foreign Exchange Administration summoned Alibaba's fintech offshoot Ant Group for regulatory talks on Satuardy.
Source: Global Times | 2020/12/27 14:14:27

China's top market watchdog completed on-site investigation into Alibaba on Thursday, local authority told media

The market watchdog in E China's Zhejiang revealed that an investigation team from the State Administration for Market Regulation arrived Thu at Alibaba to open a probe ; the on-site investigation was completed on the same day.
Source: Global Times | 2020/12/27 13:25:15

Beijing-Xiong'an high-speed transit system launched, to run at 350 km/h

Starting at Beijing West Railway Station and connecting Beijing's Daxing International Airport and Xiong'an New Area in Hebei Province, Beijing-Xiong'an Intercity Railway is now fully opened as of Sunday.
Source: Global Times | 2020/12/27 12:34:02

PetroChina oilfield output sets record of 60m tons in 2020

PetroChina Changqing Oilfield Company, a subsidiary of China's top oil-and-gas producer PetroChina, saw its production of oil equivalent of crude oil and natural gas in the past 12 months reaching 60 million tons, which marks a new milestone.
Source: Global Times | 2020/12/27 10:38:28

China launches campaign to ease internet use for elderly and disabled

Starting on January 1 next year, China will launch a special campaign to improve internet access for the elderly and people with disabilities who have difficulty using apps and online platforms, China's Ministry of Industry and Information Technology (MIIT) announced.
Source: Global Times | 2020/12/27 12:08:39

Profits of major industrial firms rise 15.5% in Nov

Profits at China's major industrial companies grew 15.5 percent year-on-year in November, marking a seventh consecutive month of growth and a steady recovery from the economic fallout of the COVID-19 epidemic in the country's manufacturing sector.
Source: Global Times | 2020/12/27 11:18:02

China's industrial profit grew 15.5% year-on-year in November: National Bureau of Statistics

China's industrial profit grew 15.5% year-on-year in November. In the first 11 months, profits of major industrial enterprises grew 2.4% year-on-year to 5.7 trillion yuan ($ 871 billion): National Bureau of Statistics reported.
Source: Global Times | 2020/12/27 9:57:35

China pursues quality development, rather than surpassing other country: expert

A latest analytical piece published by a UK-based think tank predicted that the Chinese economy may overtake the American economy in 2028, far earlier than previous predictions. Eye-catching as it is, especially when the global economy is battered by the COVID-19 pandemic, overtaking the world's largest economy is not a guiding principle in China's development. China is pursuing high-quality development to meet its 1.4 billion people's demands for a better life, a Chinese expert said.
Source: Global Times | 2020/12/26 18:04:37

641 companies release performance forecast, more than 40% expect positive growth

A total of 641 firms listed on China's A-share market, as of Friday, released performance forecasts for 2020. More than 40 percent of them predict positive growth despite the fallout of the COVID-19 pandemic, reports said.
Source: Global Times | 2020/12/26 15:26:14

Exclusive: Apple targets car production by 2024 and eyes 'next level' battery technology

Apple Inc is moving forward with self-driving car technology and is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology, people familiar with the matter told Reuters.
Source: Global Times | 2020/12/26 9:27:39

China's foreign trade volume per minute surpasses $9 million: MOFCOM

China's foreign trade volume per minute has reached 60 million yuan ($9.17 million), and the country's foreign trade volume and international market share hit record highs, the Ministry of Commerce (MOFCOM) said on Friday.
Source: Global Times | 2020/12/26 0:56:28

Chinese companies and individuals fined over 1 million for smuggling copper sludge

Two Chinese companies and two Chinese nationals were ordered on Friday by the Shanghai High People's Court to pay 1.05 million yuan ($160,533) in disposal fee, after a seizure of 138.66 tons of copper sludge smuggled from overseas in the name of copper ore.
Source: Global Times | 2020/12/25 22:39:15

Tesla launches new store in Shanghai, expects continuous growth in Chinese market in 2021

US electric vehicle manufacturer Tesla concluded 2020 with a new store unveiled on Thursday in Shanghai, which will provide consultations, test drives, test delivery, and after-sales services based on Tesla's direct sales model, the company said in a statement issued to the Global Times.
Source: Global Times | 2020/12/25 21:42:06