Xie Jun
Reporter, Shanghai
Global Times reporter based in Shanghai, covering financial news and breaking news related to large corps surrounding Shanghai.
  • Pudong to be global financial zone

    Shanghai's Pudong New Area aims to attract more than 200 global institutional investors and five new legal person investment institutions this year, a government official in Pudong disclosed, as the country tries to model the area into an essential node ...

    By Xie Jun and Li Xuanmin in Shanghai | 2021/7/29 19:53:39
  • Chinese official warns of slower trade growth in H2, vows 'targeted' measures

    China isn't getting carried away with the buoyant trade growth of recent months, with officials warning of a possible slowdown in trade growth in the second half, while vowing to address problems like rising raw material prices and congested maritime ...

    By Xie Jun | 2021/7/22 21:03:40
  • Pioneer of China's socialist modernization eyes tech breakthroughs, financial opening

    The Pudong New Area of Shanghai will lead China's intensifying push for breakthroughs in key technologies such as basic software and integrated circuits, as the central government moves to model the area into a pioneer zone for socialist modernization in ...

    By Xie Jun and Qi Xijia | 2021/7/20 19:48:40
  • Chinese tech firms help Tokyo Olympics cope with COVID-19

    Chinese companies are actively participating in the upcoming Tokyo Olympic Games and helping one of the world's biggest sports events cope with special circumstances and challenges posed by the COVID-19 pandemic.

    By Xie Jun | 2021/7/19 20:50:56
  • China's economic recovery gains steam as H1 GDP surges by 12.7%

    China's post-COVID-19 comeback continues to gain steam as its economy posted growth in all sectors in the second quarter and GDP expanded 12.7 percent in the first half of the year, according to data released by the National Bureau of ...

    By Li Xuanmin and Xie Jun | 2021/7/15 21:43:39
  • China's GDP expands 7.9% in Q2, facing downward pressure in H2

    China's GDP expanded 7.9 percent year-over-year in the second quarter of 2021, continuing a streak of robust growth mainly thanks to the government's successful containment of the COVID-19 outbreak throughout the country, which sets the basis for a steady revival ...

    By Li Xuanmin and Xie Jun | 2021/7/15 10:01:42
  • Extension of CPEC into Afghanistan to boost local exports, journey of peace: analysts

    As officials from China, Pakistan and Afghanistan revealed an inclination to extend the China-Pakistan Economic Corridor (CPEC), a flagship Belt and Road Initiative (BRI) project into Afghanistan, experts said that such projects could help boost Afghanistan's exports, which is conducive ...

    By Xie Jun and Chu Daye | 2021/7/13 16:13:39
  • Balance of big data value unlocking and protection highlight amid Didi crisis; possible solutions introduced at WAIC

    The issue of data protection has become a hot topic during the 2021 World Artificial Intelligence Conference (WAIC), with workshops, forums and speakers pledging to enhance data security and exhibiting related technologies, after the removal of the “Chinese Uber” Didi ...

    By Xie Jun and Qi Xijia | 2021/7/9 22:59:27
  • China's central bank cuts RRR by 0.5 percentage points, to release 1 trillion yuan of long-term cash

    China's central bank announced on Friday to cut the required reserve ratio (RRR), the amount of cash that banks and financial institutions must hold as reserves, by 0.5 percentage points. The move is expected to release long-term capital of about ...

    By Yang Kunyi and Xie Jun | 2021/7/9 22:51:48
  • US firms seek AI openings in China despite fresh bilateral tension

    Even as tension between China and the US continue to escalate in a wide range of areas from trade to technology, US technological companies showed unabated passion about the Chinese market at an industry expo kicked off on Thursday in ...

    By Xie Jun and Qi Xijia | 2021/7/8 21:53:39
  • Nation steps up crackdown on securities crimes amid external risks

    China's top disciplinary bodies on Wednesday announced a special inspection of the country's top stock market regulator to "dig out" corruption, in the latest effort of China's intensifying crackdown campaign on securities crimes, including those involve Chinese companies listed overseas.

    By Xie Jun | 2021/7/7 22:03:40
  • Canberra to blame for market losses to the US: Foreign Ministry

    Many Australian products are losing market share in China to US goods, but that's what Canberra deserve given its roles as a "cannon fodder" for Washington, a spokesperson for the Chinese Foreign Ministry suggested on Tuesday.

    By Xie Jun and Yin Yeping | 2021/7/6 22:38:39
  • Chinese supercomputers hold onto supremacy despite US squeeze

    Despite the US government's technology squeeze, Chinese scientists remain confident that the country's supercomputing industry will "get back on track" once the semiconductor manufacturing problem is addressed.

    By Xie Jun and Xiong Xinyi | 2021/7/4 16:08:39
  • China accelerates digital yuan push amid rising global competition

    Chinese economists have refuted some overseas economists' allegation that the use of the digital yuan is a threat, saying China's currency reform won't bring fundamental change to global finance, although it may lead to less dominance of the US dollar. ...

    By Xie Jun | 2021/6/30 19:58:40
  • CATL-Tesla deal highlights Chinese EV battery sector's global rise

    The share price of Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology Co (CATL) surged by nearly 3 percent on Tuesday, after the company signed a new agreement with Tesla to provide battery packs for the US carmaker through ...

    By Xie Jun | 2021/6/29 18:53:39
  • Chinese tech firms put on a strong show at MWC 2021 despite challenges

    More than 100 Chinese companies, including Huawei and ZTE, attended the Mobile World Congress 2021 (MWC 2021) that kicked off on Monday in Barcelona, Spain, accounting for about one-fifth of the total number of exhibitors at the major industry event, ...

    By Xie Jun and Yin Yeping | 2021/6/28 21:58:39
  • Demand increases for used chips in China amid global supply shortage

    More secondhand semiconductor chips are being traded in Chinese electronics markets amid a severe shortage, industry insiders said, but these chips have not turned up in products made by mainstream mobile phone companies in China.

    By Xie Jun and Tao Mingyang | 2021/6/23 20:08:01
  • Chinese less favorable to Australia amid strained ties: GT poll

    The latest Chinese public opinion poll on Australia conducted by the Global Times Research Center showed that the Chinese people have a less favorable attitude toward Australia, and more than 40 percent consider Australia a threat on military, politics and ...

    By Chen Qingqing, Zhao Yusha, Xie Jun and Xu Keyue | 2021/6/23 1:03:39
  • HK's role as financial hub gets stronger, seeks more mainland connectivity: Lam

    Hong Kong Special Administrative Region (HKSAR) Chief Executive Carrie Lam on Sunday brushed off foreign criticism and smearing of the city's financial industry, saying its role as a global financial hub has only become stronger.

    By Xie Jun | 2021/6/20 21:31:46
  • Policy tightening for after-school tutoring

    China's after-school education institutions are anxiously waiting for further government instructions with many adjusting their business models to comply with policy changes, as the government's regulation of the lucrative industry continues.

    By Xie Jun | 2021/6/20 18:30:42
  • US' ban on DNA equipment over lies about Xinjiang will only help local firms: experts

    A US blockade on sales of DNA equipment and related products to Northwest China's Xinjiang Uygur Autonomous Region would be just another way for US politicians to target China over widely debunked lies about Xinjiang, and it will only speed ...

    By Yin Yeping and Xie Jun | 2021/6/16 21:18:40
  • Theme parks witnessing throngs of visitors in China

    With the COVID-19 pandemic battering the tourism industry throughout the globe, theme parks in particular, those located in the Chinese mainland have, however, witnessed the fastest recovery in the world.

    By Xie Jun and Chi Jingyi | 2021/6/15 19:44:01
  • China's nuclear power giant CGN dismisses reports of leak warning at a Guangdong facility, says indicators 'normal'

    All indicators of the Taishan Nuclear Power Plant in Taishan, South China's Guangdong Province and its surrounding environment are normal, according to continued monitoring data, the China General Nuclear Power Corporation (CGN), the operator of the plant, said in a ...

    By Chen Shasha and Xie Jun | 2021/6/14 21:40:13
  • Chinese local government mulls crackdown on Bitcoin mining

    Officials in Southwest China's Sichuan Province, a major base for cryptocurrency mining, are apparently mulling more actions against mining operations of Bitcoin and other crytocurrencies, as they were scheduled to convene a meeting on Wednesday to solicit suggetsions from indsutry ...

    By Xie Jun | 2021/6/2 20:10:49
  • Chinese wig producers run short of hair as pandemic hits Asian supply line

    Many Chinese wig producers are running short of raw material - genuine hair, which they used to import in large quantities from neighboring countries including India, but the surging coronavirus pandemic cut both production and transportation from those countries, industry ...

    By Xie Jun | 2021/6/1 17:55:53
  • Analysts warn CFIUS may block Chinese fund's deal for S.Korean chip firm

    Chinese analysts on Sunday warned that the US might thwart Chinese fund Wise Road Capital's planned acquisition of South Korean semiconductor giant Magnachip Semiconductor over fear of China's rising chip manufacturing capability, after the Committee on Foreign Investment in the ...

    By Xie Jun | 2021/5/30 19:05:47
  • Landbridge says mulling litigation to maintain its 99-year lease of Australian Darwin Port

    Chinese company Landbridge Group on Wednesday lashed out against Australia for "breaching basic contract spirit" and said it might resort to legal action, after the latter was reportedly turning back on a former lease of Australia's Darwin port to the ...

    By Xie Jun | 2021/5/26 18:59:47
  • Huawei HarmonyOS launch shows breaking of US technology myth

    Chinese telecom giant Huawei is set to introduce its HarmonyOS for its mobile phones at the beginning of June, a move which not only shows the company's successful shift to a new business focus that can largely free it from ...

    By Xie Jun and Ma Jingjing | 2021/5/25 22:39:45
  • Bitcoin mines may move out of China following tightening regulation

    Many Chinese bitcoin mines are considering moving out of China after the regulators re-emphasize plans to outlaw bitcoin-related payment services, although some mines in Southwest China's Sichuan Province are still operating as usual, industry insiders told the Global Times.

    By Xie Jun and Li Xuanmin | 2021/5/24 20:38:39
  • US stimulus checks help boost China's toy exports; price hikes expected

    China's toy factories are getting an influx of export orders this year, particularly from the US, with some seeing sales triple as demand for home entertainment products heats up under massive rescue packages and continuing home isolation.

    By Xie Jun and Wang Bozun | 2021/5/17 19:23:40
  • US companies research into China's carbon reduction plan, rush to be part of trillion-size market

    US companies are rushing to take a slice of China's carbon neutrality markets, which could amount to 1,000 trillion yuan ($155 trillion) by 2030 and cover multiple industries as the country strives to meet its carbon emissions peak goal in ...

    By Xie Jun | 2021/5/14 19:53:39
  • Trade between China-central/eastern Europe on the rise despite pandemic

    China's trade with central and eastern European countries has been on the rise despite the pandemic, as the outbreak has driven demand for certain items such as medical devices and home products both in China and Europe, officials and business ...

    By Xie Jun | 2021/5/13 0:19:12
  • Iron ore price soars as China-Australia trade uncertainties linger

    China's iron ore prices have hit record highs, driven by surging steel demand as well as speculation on fluctuations in China-Australia iron ore trade, industry experts told the Global Times. They also warned of a possible price plunge with market ...

    By Xie Jun and Yin Yeping | 2021/5/10 20:23:39
  • US crippling its financial dominance by elbowing out Chinese telcos: experts

    Three Chinese telecom giants have announced that they expect their American depositary receipts (ADRs) to be delisted from the New York Stock Exchange (NYSE) soon, reflecting a brewing trend of US segregation of US-listed Chinese companies, which experts said will ...

    By Xie Jun | 2021/5/9 19:34:49
  • Nio to deliver EVs to Norway from September

    Chinese electric vehicle (EV) maker Nio on Thursday announced plans to sell cars in Norway, the first overseas destination in the global market exploration for the company. Nio is one of China's most prominent EV start-ups which is also considered ...

    By Xie Jun in Shanghai | 2021/5/6 20:33:39
  • May Day holiday augurs full-fledged consumption recovery

    China's consumption engine has almost completely recovered to post-pandemic levels, as shown by surging spending on items from travel products to duty-free goods during the 2021 May Day holidays, which witnessed the country's largest population movement after last year's National ...

    By Xie Jun and Zhao Yusha | 2021/5/5 23:09:16
  • Nio makes final dash to sell cars in Europe

    Chinese electric vehicle (EV) maker Nio is making a final dash to sell cars in Europe, with the cars to be sold having already passed the EU's verification process, and a local management team will be set up in the ...

    By Xie Jun | 2021/4/20 20:23:40
  • Rising regional competition causes a slowdown in Chinese fabric exports orders

    China's textile machine production accelerated while overseas factories were trapped amid the coronavirus pandemic last year, but the trend seems to have turned in recent weeks, Chinese customs data showed.

    By Xie Jun | 2021/4/18 18:23:39
  • TikTok leads global downloads again in March despite US crackdown

    Chinese-owned short video app TikTok remained the most downloaded app worldwide in March, despite persistent crackdowns by the US over politically-motivated claims, latest industry data showed.

    By Xie Jun | 2021/4/11 20:18:39
  • China set for full recovery in tourism, but spending remains sluggish

    The number of domestic trips in China during the upcoming May Day holidays will likely surpass the level of 2019, a year before the COVID-19 pandemic, industry experts predicted on Tuesday, as one of the hardest-hit sectors by the virus ...

    By Xie Jun | 2021/4/6 20:13:39
  • Chinese consumption fires on all cylinders during Qingming Festival holidays

    China's consumption is firing on all cylinders including tourism and box office in the three-day Qingming Festival holidays to a level that is approaching, or even surpasses that of 2019, industry practitioners and companies said, as Chinese consumers rushed to ...

    By Xie Jun | 2021/4/5 23:23:39
  • China's steel sector to achieve carbon emissions peak in 2025

    China is rolling out proposals related to its goal of hitting peak carbon emissions by 2030, including setting a emission peak target for the steel sector at 2025.

    By Xie Jun and Ma Jingjing | 2021/3/30 19:38:40
  • China's hair business growing amid pandemic and industry irregularities

    Customs in Kunming, capital of Southwest China's Yunnan Province, has recently arrested 10 real hair smuggling groups in partnership with multiple customs. The smuggled hair has a total value of more than 1.1 billion yuan ($167 million), with 230 million ...

    By Xie Jun | 2021/3/30 17:48:39
  • China plans to be transport powerhouse, fueling GDP growth

    China will become a transportation powerhouse that "will leap to the front ranks of the world" by 2035, a government official told the media on Wednesday, while a stronger infrastructure buildup will fuel economic growth in the post-pandemic era and ...

    By Xie Jun | 2021/3/24 19:53:40
  • Baidu sells 11.4 million HK shares as tech giants embrace homecoming listing

    Chinese internet giant Baidu saw bids for its shares rise nearly 2 percent at the opening to HK$257 ($33.1) in gray-market trading on Monday, one day before its IPO in Hong Kong, the latest example of US-listed Chinese companies turning ...

    By Xie Jun | 2021/3/22 20:03:39
  • Chinese firms listed in US seek home-return listings for stable environment and higher valuations

    More and more Chinese firms listed in the US are likely to return back to the Chinese mainland's A-share stock markets to go public, not only because of an increasingly unfriendly US business environment, but because this will drive their ...

    By Xie Jun | 2021/3/16 21:53:39
  • 2021 APEC to work on issues of trade, vaccine cooperation

    This year's APEC summit, to be hosted by New Zealand, would focus on pushing free trade in Asia-Pacific and pandemic-fighting solutions, including how to ensure a convenient flow of vaccines across the region, the chair of the First Senior Officials' ...

    By Xie Jun | 2021/3/11 19:58:40
  • Favorable policies prompt HK professionals to pursue careers in Chinese mainland

    More Hong Kong professionals, ranging from young entrepreneurs to middle-aged academics, are choosing to pursue their careers in the Chinese mainland, whether starting a business or working for mainland companies and institutions, as they are aware of the mainland's huge ...

    By Li Qiaoyi and Xie Jun | 2021/3/10 19:58:40
  • China to revise anti-monopoly law

    China will revise the anti-monopoly law, the company law and the corporate bankruptcy law to build a modern economic system and promote technological innovation, the Standing Committee of the National People's Congress (NPC), China's top legislature, said in a work ...

    By Li Xuanmin and Xie Jun | 2021/3/8 19:28:39
  • China's exports to the US may jump about 20% in 2021: expert

    Amid a steady recovery in the domestic economy and strong overseas demand, China posted a year-on-year gain of 60.6 percent in its exports during the first two months of 2021, the General Administration of Customs (GAC) said on Sunday.

    By Chu Daye and Xie Jun | 2021/3/7 20:28:39
  • China should prepare for continued US crackdown on tech sector under Biden, as Trump-era rule targeting Chinese firms is to take effect: experts

    The Biden administration's reported move to allow a Trump-era rule targeting Chinese technology firms to take effect soon is a signal that the Biden government will continue cracking on China's tech rise like the Trump administration, although Biden's overall strategy ...

    By Xie Jun | 2021/2/28 22:33:40
  • China cuts composite import tariff to 15.8%, lowest in history, may slash further to around 7% by 2035

    China cut its composite tariff rate for imported goods by about 27.5 percent in the five years ended in 2020, customs data showed, and experts predicted that the country would likely halve the current rates by the end of 2035 ...

    By Xie Jun | 2021/2/25 20:53:39
  • HSBC's profits down 34% in 2020, experts write off prospects in China over Huawei friction

    London-based HSBC's profits slumped 34 percent on a yearly basis to $8.8 billion in 2020, which the lender attributed to factors such as the COVID-19 pandemic and the ensuing economic challenges. But experts said that HSBC's damaged reputation in China ...

    By Xie Jun | 2021/2/23 20:13:39
  • 31 China's provinces and regions set GDP growth targets about/above 6%

    Despite wide speculation that China has not so far set a national target for GDP growth in 2021, most of China's provinces and regions have set their own targets above 6 percent this year, signaling confidence to achieve further economic ...

    By Zhang Dan and Xie Jun | 2021/2/21 22:33:39
  • Xiaomi, Oppo become shareholders of Jiangsu-based chipmaker to secure supplies

    Chinese mobile phone companies are becoming shareholders of domestic chipmakers to secure semiconductors at a time when China-US political friction makes US supplies very unreliable for Chinese phone vendors.

    By Xie Jun | 2021/2/21 18:48:39
  • China sees consumption boom during 2021 Spring Festival

    From heated local tourism to surging dining and online shopping, China saw a consumption boom that was above the expectations of many during the weeklong Spring Festival holiday, and experts said the trend should continue after COVID-19 vaccines become widely ...

    By Xie Jun and Qi Xijia | 2021/2/18 20:33:39
  • Biden appears more positive toward China, but still lacks clarity on policy

    US President Joe Biden said on Thursday US time that he remains prepared for cooperation with China in his first speech on foreign affairs at the Department of State after his inauguration, while also calling China the US' “most serious ...

    By Yang Sheng and Xie Jun | 2021/2/5 20:32:51
  • China starts trading of peanut futures, experts say contracts can guide crop's spot price

    China started trading of peanut futures on the Zhengzhou Commodity Exchange on Monday, with the main contract surging by more than 12 percent on the first trading day.

    By Xie Jun | 2021/2/1 21:43:39
  • Hubei, Hainan aim for GDP growth of 10%-plus, highest among all provinces

    All 27 provincial-level regions of China that have set GDP growth targets for 2021 chose a figure of at least at 6 percent, which means that the nation's economy is likely to return to pre-coronavirus levels this year.

    By Xie Jun | 2021/1/31 19:58:39
  • 'Buy American' unlikely to hurt Chinese exports

    An initiative by US President Joe Biden to boost domestic manufacturing by ordering federal government agencies to buy more US-made goods will not hurt Chinese exports to the US, which has lost most of its low- and medium-end industry chains, ...

    By Xie Jun | 2021/1/26 20:59:46
  • BRI contributes global post-pandemic recovery by laying foundation for cooperation and stabilizing global supply chains

    The Belt and Road Initiative (BRI) will contribute to the global economic rebound by stabilizing supply chains among countries along the BRI route, while laying the foundation for further global cooperation, experts said ahead of opening of the World Economic ...

    By Xie Jun and Ma Jingjing | 2021/1/25 18:03:39
  • Chinese infrastructure firms more scared than hurt in 2020, see surging contracts despite COVID-19 hit

    China's major infrastructure companies were more scared than hurt in 2020, with some still achieving double-digit growth in new contract values despite the coronavirus pandemic, which interrupted the movement of people and goods.

    By Xie Jun and Chu Daye | 2021/1/24 22:38:39
  • Chinese experts say Tesla's success in China can't happen again in India due to consumption, infrastructure gaps

    China's automobile experts said that it's impossible for India to copy Tesla's success in China, and the company's moves in India are just a "tiny, experimental program", after two Indian ports were reportedly competing to invite the US electric carmaker ...

    By Xie Jun and Chu Daye | 2021/1/21 21:53:39
  • Biden's inauguration a boon to Chinese stock market

    Chinese and other Asian equity markets rallied on Thursday, after US stocks surged to new highs on US President Joe Biden's inauguration day. Experts said that investors' sentiment was driven higher as they saw Biden sending a more cooperative message ...

    By Xie Jun | 2021/1/21 20:33:39
  • Investors chase Chinese chip firms after US crackdown

    Chinese investors have rushed into the domestic chipmaking sector, as they remain positive on the industry's growth after being cornered by the Trump administration, industry analysts said on Sunday.

    By Xie Jun | 2021/1/17 19:42:40
  • Mainland companies take steps to shift listings from US

    Several Chinese mainland-based companies whose shares are currently listed in the US, including Lenovo Group and Tencent Music, have either announced plans to issue Chinese Depositary Receipts (CDR) in Shanghai or are reportedly seeking secondary listings in Hong Kong, at ...

    By Xie Jun | 2021/1/13 21:38:06
  • Baidu to produce intelligent cars in partnership with Geely

    Domestic technology giant Baidu Inc announced on Monday that it will establish an intelligent car company in partnership with the automaker Geely, which sparked interest and skepticism among Chinese netizens and experts. Some questioned the companies' plans after previous failures, ...

    By Xie Jun | 2021/1/11 18:53:40
  • Baidu announces to found intelligent car company with Geely

    Chinese tech giant Baidu Inc announced on Monday that it would establish an intelligent car company in partnership with mainland auto firm Geely, a step which has sparked interests and skepticism among Chinese netizens and experts. Some questioned the companies' ...

    By Xie Jun | 2021/1/11 10:48:39
  • China's CPI to grow by about 0.2% in December, while PPI to narrow contraction at -0.4%, economists say

    Chinese economists estimate that the country's consumer price index (CPI) rose about 0.2 percent in December, as food costs increased in the winter season, while the pandemic resurgence cut pork imports.

    By Xie Jun | 2021/1/10 19:48:39
  • US toughens crackdown on listed Chinese firms as Trump buries political hurdles for Biden, analyst says

    The US off-exchange trading platform operator OTC Markets Group announced to stop trading in 12 Chinese shares including the Semiconductor Manufacturing International Corporation (SMIC), as the US President Donald Trump toughened its crackdown on listed Chinese companies in the last ...

    By Xie Jun | 2021/1/9 17:35:45
  • Third-party testing labs' profit surge expected to slow down in 2021: analyst

    Stunning growth in the profitability of China's third-party testing labs, mostly as a result of the coronavirus outbreak, might slow this year if nothing unexpected happens, but the broad trend is set to continue as the market develops, experts told ...

    By Xie Jun | 2021/1/6 21:33:39
  • Tesla's Model Y SUV selling hot in China

    The ripple effect of Tesla's surprising price reduction for the Chinese-made Model Y cars has continued, with market attention focused on the future competitive landscape created by the foreign player that has stirred up the new-energy vehicle (NEV) market in ...

    By Xie Jun and Zhang Hongpei | 2021/1/5 19:53:39
  • Chinese mainland stocks greet 2021 with a 3.77% rally on tech board, 2.47% rise on Shenzhen market

    Chinese mainland stocks greeted 2021 with a strong rally, as investors nurtured hopes for an accelerating recovery of the economy in the new year, after the country spent 2020 in something of a coronavirus-triggered crisis before stabilizing economic growth.

    By Xie Jun | 2021/1/4 19:38:39
  • With first FTA, diplomatic trip, China to boost cooperation with Africa in 2021

    In the first three days of 2021, China launched its first free trade agreement (FTA) with an African nation and China's foreign minister prepared for his first official trip of the year to several African countries, underscoring China's unchanged focus ...

    By Wang Cong and Xie Jun | 2021/1/3 19:33:40
  • Chinese companies see different effects from new US blacklist

    Shortly after the US government imposed new sanctions on dozens of Chinese companies on Friday, one Chinese mainland-based company said that the move will have no impact on current or future operations, while another said that it is still selling ...

    By Xie Jun and Zhang Dan | 2020/12/20 21:38:39
  • It's Australia, not China that's violating free trade deal, analysts say, urging China to resort to international courts

    Economists laughed at Australia's attempts to crack down on China by taking legal action against the country under the China-Australia Free Trade Agreement (ChAFTA), saying that it is Australia instead of China that is violating the terms of the agreement, ...

    By Xie Jun and Chi Jingyi | 2020/12/17 22:38:40
  • SMIC shares sink after leadership shift, likely to hurt client confidence

    Shares in Chinese mainland-based chipmaking giant Semiconductor Manufacturing International Corp (SMIC) went through a turbulent day, first halting trading and then sinking on Wednesday, after what is seen as an abrupt senior management change.

    By Xie Jun | 2020/12/16 20:58:40
  • Mainland car, headphone industries face chip shortage as some phone firms stockpile products for fear of US sanctions

    Sectors in the Chinese mainland from automobiles to headphones face tight chip supplies, although the shortages have not yet seriously affected their operations, analysts and industry sources told the Global Times.

    By Xie Jun | 2020/12/14 21:33:40
  • Double 12 festival sees nearly 20,000 transactions via digital yuan on JD.com

    Nearly 20,000 transactions were paid for with digital yuan within 24 hours after 8 pm Beijing time on Friday on JD.com, as Chinese residents actively participated in a major real-world trial of the digital yuan in Suzhou, a city in ...

    By Xie Jun | 2020/12/13 19:23:40
  • Ranks of Apple suppliers surge in mainland

    The number of Chinese suppliers for Apple surged from almost none 10 years ago to dozens in the present day, driven by the rapid development of China's mobile phone terminal market, and this trend can't be reversed even by a ...

    By Xie Jun | 2020/12/9 20:23:40
  • Hog breeders head for more profits

    A golden era of high profits for Chinese hog farmers will last one year or more despite climbing pork production as the country gradually emerges from the influence of African swine fever (ASF), farmers and experts told the Global Times. ...

    By Xie Jun and Chu Daye | 2020/12/8 20:38:40
  • China's exports to India down 13% in first 11 months

    China's exports to India continued to show weakness with a 13 percent drop in the first 11 months of the year, customs data showed, as the unabated coronavirus affects internal demand in India, while the two countries' political standoff extends ...

    By Xie Jun | 2020/12/7 13:18:41
  • FTSE Russell's index move 'bad example'

    Index provider FTSE Russell's decision on Friday to remove eight Chinese companies named by the Trump administration as having alleged ties to the Chinese military from some of its indices shows the company's political prejudice and provocative attitude toward Chinese ...

    By Xie Jun | 2020/12/6 21:57:23
  • Australian 'boycott' of Chinese products unlikely to happen: experts

    Australian politician Pauline Hanson has called for Australians to boycott products made by factories in the Chinese mainland, but it probably won't happen as it will be hard for the country to replace Chinese products, experts and Australian residents told ...

    By Xie Jun and Chu Daye | 2020/12/3 22:45:16
  • Mainland markets become economy's backbone as capitalization surges

    Becoming the world's second-largest stock market in terms of capitalization, the share markets in Shanghai and Shenzhen have together become a backbone of the Chinese mainland's economy, and they are becoming more accommodative and resilient amid ongoing financial reforms, experts ...

    By Xie Jun and Qi Xijia | 2020/12/1 19:58:21
  • Export control law to affect rare earths, UAVs

    A new Chinese law that takes effect on Tuesday will restrict exports of controlled items, which experts said will increase market supply volatility of some products and technologies, like rare earths and unmanned aerial vehicles (UAVs), although a plunge in ...

    By Xie Jun and Li Xuanmin | 2020/11/30 19:38:40
  • Mainland companies may lose interest in IPOs, but room for talks under Biden

    There's massive room for maneuvering in how the US will treat Chinese mainland-based companies listed there under a new bill, which the US House of Representatives will vote on soon, experts said. If passed, many Chinese companies will be reluctant ...

    By Xie Jun and Yang Kunyi | 2020/11/29 21:28:40
  • US companies see new era under Biden

    US multinationals aim to clear away a stumbling block, the Trump administration's protectionism and anti-globalism, to push forward their international plans, in particular their exploration of the Chinese market, experts said. They made the comments in response to news that ...

    By Xie Jun | 2020/11/24 19:23:40
  • Rising debt defaults put financial stability at risk: analysts

    From halting Ant Group's IPO to announcing penalties for deliberate debt defaults by some companies, China has taken a firm attitude in preventing financial risks after irregularities emerged amid the country's recovery from the COVID-19 pandemic.

    By Xie Jun | 2020/11/23 21:03:40
  • China showcases digital know-how at World Internet Conference

    China showcased cutting-edge technologies ranging from artificial intelligence (AI) and cloud computing to big data and blockchain at an expo on Sunday in Wuzhen, a town in East China's Zhejiang Province, a day before the opening of the 2020 World ...

    By Li Qiaoyi in Wuzhen and Xie Jun in Shanghai | 2020/11/22 19:43:40
  • China's interest in CPTPP membership seen as a chance to ease Sino-US tensions

    China's bold decision to consider joining a massive Asia-Pacific trade agreement shows the country's intent to seek higher-level opening up, a move which would breathe new life into free trade at a time when many countries are trying to shift ...

    By Xie Jun and Qi Xijia | 2020/11/21 21:27:07
  • China-Malaysia trade, investment to grow

    Many changes are expected following the signing of the world's largest free trade agreement — the Regional Comprehensive Economic Partnership (RCEP) — including more trade between China and Malaysia, and broad restructuring of Asian supply chains, government officials from China ...

    By Xie Jun | 2020/11/19 20:14:39
  • China takes spotlight at APEC

    China has taken the spotlight at one of the biggest diplomatic and economic platforms in the Asia-Pacific region, as Chinese President Xi Jinping used a keynote speech on Thursday to highlight China's "major strategic achievement" in fighting the COVID-19, and ...

    By Wang Cong, Xie Jun and Shen Weiduo | 2020/11/19 19:48:40
  • Chinese yuan climbs to 29-month high against US dollar

    The Chinese yuan's recent trend of appreciation shows no signs of slowing down, as the currency's central parity rate soared to nearly 29-month high on Wednesday against the US dollar, following release of upbeat economic data in October by the ...

    By Xie Jun | 2020/11/18 13:08:40
  • China's GDP to expand 2% in 2020: experts

    China's economic recovery continued to gain impetus in October, reflected by faster growth in domestic consumption and factory output, and experts predict the economy will grow faster in the fourth quarter than the third, and the full-year expansion is likely ...

    By Xie Jun and Yin Yeping | 2020/11/16 20:08:40
  • China, 14 other economies sign RCEP in historic win for multilateralism

    China and 14 other economies signed the world's largest trade deal, the Regional Comprehensive Economic Partnership (RCEP), on Sunday to form a free trade zone in the Asia-Pacific region that will encompass a third of the global economy, in what ...

    By Xie Jun and Chi Jingyi | 2020/11/15 12:53:20
  • China's import fair reports 2% rise in turnover

    The third China International Import Expo (CIIE), the largest in-person global trade event amid the pandemic so far this year, ended in Shanghai on Tuesday with a turnover of $72.62 billion, an increase of 2.1 percent over last year's - ...

    By Xie Jun and Qi Xijia in Shanghai, Shen Weiduo in Beijing | 2020/11/10 21:13:40
  • Foreign firms see opportunity in 'dual circulation' strategy

    At a time when China is rolling out a new roadmap for economic development pattern called “dual circulation“, many foreign companies view it as an opportunity to broaden their business operation in China, senior managers told the Global Times at ...

    By Xie Jun and Qi Xijia | 2020/11/9 19:08:40
  • High-tech goods on full display in third CIIE

    From smart unmanned vaccination capsules and artificial meat to the world's first complete carbon fiber supercar and the safest electric wheeled excavator, the ongoing third China International Import Expo (CIIE) in Shanghai has become a fest for high-tech products, showcasing ...

    By Xie Jun in Shanghai and Shan Jie in Beijing | 2020/11/8 18:38:40
  • Luxury brands flock to event eyeing potential of shoppers in China

    From Cartier to Gucci, international luxury brands have showcased their latest collections in the consumption exhibition hall of the third China International Import Expo (CIIE), turning it into one of the most glittering, bejeweled sections of the CIIE.

    By Xie Jun and Qi Xijia | 2020/11/8 16:58:40
  • Luxury brands flock to CIIE eyeing the potential of Chinese market

    From Cartier to Gucci, international luxury brands are showcasing their latest collections in the consumption exhibition hall of the third China International Import Expo (CIIE), turning it into one of the most glittering, bejeweled sections of the CIIE.

    By Xie Jun and Qi Xijia | 2020/11/7 20:18:57
  • Import fair a golden opportunity to revitalize consumption market

    Determinedly charging along the path of consumption-driven development, China kicked off its third international import event on Wednesday. With the pandemic-induced battering of domestic consumption ebbing, the opening of the China International Import Expo (CIIE) is set to inject more ...

    By Xie Jun and Zhang Hongpei | 2020/11/4 20:28:40
  • CIIE to offer new hope to global businesses

    As many parts of the world--from the US to Europe--suffer fresh waves of the COVID-19 epidemic that could have an even bigger impact on their economies, China is ready to launch one of the biggest trade fairs – the China ...

    By Wang Cong, Qi Xijia and Xie Jun | 2020/11/3 20:19:46
  • Capital market opening at 'surprising speed'

    China's capital market is opening up at a “remarkable and surprising” speed, helping enmesh foreign financial institutions to a rising market, executives of foreign financial institutions told the Global Times, while stressing their long-term commitment to the world's second-largest economy ...

    By Xie Jun in Shanghai and Li Xuanmin in Beijing | 2020/11/2 20:58:40
  • Tesla exports China-made Model 3s to Europe

    About 10 months after Tesla Shanghai delivered the first batch of locally made Tesla 3s, the US-based electric car company announced that it will export China-made Tesla 3s to a dozen European countries.

    By Xie Jun and Li Xuanmin | 2020/10/26 20:03:40
  • Officials vows to carry out institutional financial change

    At a time when China is under the pressure of economic decoupling from the US government, and its own challenges arising from domestic economic structural upgrade, some top government officials stressed in recent days that the country will not only ...

    By Xie Jun | 2020/10/25 20:23:40
  • Exports firing on all cylinders in Q3

    The world's factory hummed “unexpected strongly” in the third quarter as China posted a record 10.2-percent increase in exports amid the spread of COVID-19 globally, with foreign demand warming up and domestic manufacturing activity getting back to normal.

    By Chu Daye and Xie Jun | 2020/10/13 18:48:40
  • Q3 export surge puts China on track to achieve 5% GDP growth amid COVID-19 pandemic: analysts

    The world's factory was humming in the third quarter as China posted a better-than-expected 10.2 percent increase in exports amid the rampant spread of COVID-19 globally, with foreign demand warming up and domestic manufacturing activity getting back to normal, supporting ...

    By Chu Daye and Xie Jun | 2020/10/13 10:00:02
  • Yuan's mid-point rate hits nearly 18-month high as economy rebounds

    The yuan showed strong fluctuation on Monday, with the reference rate soaring to an almost 18-month high against the US dollar, while the offshore yuan slumped.

    By Xie Jun and Wang Bozun | 2020/10/12 19:58:40
  • Experts predict China's Q3 exports jump 10%

    China's exports likely grew an impressive 10 percent in the third quarter, trade analysts and financial institutions estimate, as foreign demand chalked up and domestic manufacturing activity returned to normal.

    By Xie Jun | 2020/10/11 21:23:40
  • Yuan value steadily rising against dollar during holiday

    The yuan quickened its pace of appreciation during China's recent holiday period, with the offshore yuan surging by more than 500 basis points during China's National Day holiday and Mid-Autumn Festival, as the country's post-coronavirus economic rebound picks up pace, ...

    By Xie Jun | 2020/10/8 21:13:40
  • Chinese fintech Lufax files IPO in the US

    As Chinese fintech company Lufax files to go public in the US, the country's rising hostility towards China and its relentless crackdown on Chinese tech companies has made many Chinese companies "think twice" about listing on US capital markets, experts ...

    By Xie Jun and Qi Xijia | 2020/10/8 20:33:40
  • China-US decoupling not in the works

    The Trump administration will be frustrated to find that interdependence between the US market and Chinese manufacturing can't be easily divided, no matter it is tariff hike, call for US businesses to decouple from China, or the coronavirus outbreak, which ...

    By Xie Jun | 2020/9/28 21:21:29
  • Businesses bet on bright side in trade with India

    This seems to be the worst year in a decade for Chinese companies doing business with India, and vice versa. Both countries have experienced an economic standstill as a result of the coronavirus, while rising skirmishes as part of a ...

    By Xie Jun | 2020/9/27 21:08:41
  • New UNCTAD data justifies China's trade and economic prowess

    China's unshakable position as a global trade and economic powerhouse is once again justified by the UN Conference on Trade and Development (UNCTAD), which put China's economic growth at the top of the range over 2020-21 in its annual trade ...

    By Li Qiaoyi in Beijing and Xie Jun in Yiwu | 2020/9/23 21:26:02
  • China's benchmark rate unchanged as economy recovers

    China kept its benchmark lending rate unchanged for the fifth consecutive month on Monday, in line with market expectations, as the country holds its monetary policy steady amid a robust economic recovery.

    By Xie Jun | 2020/9/21 19:23:40
  • Huawei teams up with CAS on technological development

    Huawei is inviting professionals across China, from top research institutions to universities and companies, to join efforts in technological research as the Shenzhen-based technology giant tries to blaze a trail out of the US blockade.

    By Xie Jun | 2020/9/20 21:03:40
  • China's monetary policies to remain unchanged, but yuan pressured to rise following Fed's decision to keep rate at near-zero level

    Following the US Federal Reserve's move to keep the interest rate unchanged at a near-zero level, the yuan might be pressured to appreciate further in the short term, while China's monetary policies are likely to be stable, experts said.

    By Xie Jun | 2020/9/17 11:59:22
  • Chinese plants go 'smart' to turn manufacturing tide

    For a long time, China has been searching for a solution to the challenge faced by its manufacturing industry, which is that many of its comparative advantages such as low labor costs and high productivity levels are being lost to ...

    By Xie Jun | 2020/9/17 0:01:56
  • Update: While Trump calls for 'decoupling' with China, businesses head in other direction

    With China's irreplaceable industry chains and unshakeable US demand, decoupling from China is just political talk by US President Donald Trump, which is not a workable plan, representatives from China's manufacturing sector told the Global Times.

    By Chen Qingqing, Wang Bozun in Dongguan and Xie Jun in Yiwu | 2020/9/15 22:23:40
  • Outbound investment needs better protection

    Facing global protectionism, which is resulting in a tougher investment environment in many countries and regions, China should use multiple tools and mechanism, including those of the government, multilateral organizations and civilian power, to safeguard Chinese investors' overseas assets, according ...

    By Xie Jun | 2020/9/13 19:28:40
  • Beijing achieves full 5G coverage

    Beijing has become the second Chinese city to be fully covered by ultrafast 5G signals, as the country moves full steam ahead on 5G mobile networks rollout, barely slowed down by US government's harassments or the coronavirus pandemic.

    By Xie Jun | 2020/9/9 20:18:41
  • Nongfu Spring soars in HK debut as investors bet on China's consumption power

    Investors welcomed Chinese bottled water giant Nongfu Spring's debut at the Hong Kong stock market, with its shares rising about 80 percent at the opening and closing more than 50 percent higher, as investors bet on China's burgeoning consumption ...

    By Xie Jun | 2020/9/8 21:18:41
  • Amid rising tensions, China likely to reduce US debt holdings

    China may gradually reduce its holdings of US Treasury bonds to about $800 billion from the current level of more than $1 trillion, as the ballooning US federal deficit increases default risks and the Trump administration continues its blistering attack ...

    By Xie Jun | 2020/9/3 19:18:36
  • New rules make it easier for foreign investors in mainland bonds

    Three Chinese government bodies have announced draft measures that will further equalize treatment for overseas and domestic bond investors, while offering convenience for overseas institutional investors to allocate yuan-denominated bond assets.

    By Xie Jun and Li Qiaoyi | 2020/9/2 21:38:40
  • Vast scope for growth seen in China-Norway ties

    China and Norway have vast scope for economic cooperation from trade to marine industry development, which experts said will likely speed up closer diplomatic interactions.

    By Xie Jun and Yin Yeping | 2020/8/27 21:28:40
  • Seafood exporters still confident in outlook for Chinese consumption

    Despite the impact of the coronavirus outbreak and a fishery dispute, foreign participants in the seafood sector are still optimistic about the prospects for trade and cooperation with China.

    By Xie Jun and Chi Jingyi | 2020/8/26 23:23:41