In a concerted effort to bolster foreign investment, various regions across China have unveiled comprehensive strategies, emphasizing the creation of an attractive, market-oriented and legally sound business landscape, as stated in local government sessions this week.
Chinese Premier Li Qiang expressed his hope that the Japanese business community will play a positive role in facilitating win-win bilateral cooperation when he met in Beijing with a Japanese economic delegation that is visiting China. Li also urged both China and Japan to work together to bring bilateral relations back to the sound development track.
China's Foreign Ministry on Thursday slammed the European Commission's so-called economic security plan, which is reportedly aimed at China, saying that the move will only exacerbate global concerns over the EU's rising protectionism and unilateralism and further undermine Chinese and global businesses' confidence in the EU market.
Chinese stocks extended their rally on Thursday on the back of newly announced support policies, with the Shanghai Composite Index rising 3.03 percent to climb above the 2,900-point mark.
China's efforts to enhance intellectual property (IP) protection have positioned it as a major player in the field, creating new opportunities for mutually beneficial cooperation between China and other countries, Chinese Foreign Ministry spokesperson Wang Wenbin told a press conference on Thursday.
Apple's long-awaited mixed-reality headset, the Vision Pro, is a hot topic in the tech world ahead of its coming debut at the US Apple Store on February 2. Extensive media attention has been drawn to the complex supply chain behind the Vision Pro hardware, with many saying that China's supply chain plays a significant role in its manufacturing. Some industry insiders claim that Chinese mainland companies account for about 60 percent of the supply chain.
Officials of the National Financial Regulatory Administration (NFRA) on Thursday vowed to step up efforts to support the property sector and meet the reasonable financing demand of real estate companies.
After China announced its economy grew 5.2 percent in 2023, some overseas media outlets claimed that China's economic recovery was sluggish and largely disappointing. However, these pessimistic views, prevalent in the Western media, are biased and inaccurate.
Officials from the National Financial Regulatory Administration (NFRA) on Thursday vowed to step up effort to support the property sector and meet the reasonable financing demand of real estate companies.
As the National Bureau of Statistics (NBS) reported last week the Chinese economy expanded by 5.2 percent in 2023 from the previous year, several Western media outlets immediately cast doubt over the reading, casting it in a negative light and seized the opportunity to wage a smear campaign on China's economic growth.
As the world enters a new period of turbulence and change, more people realize the epochal value and global significance of the China-proposed Belt and Road Initiative (BRI). The initiative promotes connectivity instead of decoupling or division, and pursues win-win cooperation instead of confrontation, a spokesperson from China's Foreign Ministry said on Thursday.
China and Thailand will sign a permanent mutual visa exemption agreement on Friday, said Thai Prime Minister Srettha Thavisin, as China's outbound tourism to Southeast Asia is expected to return to the "golden age."
Wang Wenbin, spokesperson for the foreign ministry, said that the model is approved in accordance with Chinese civil aviation regulations on December 8 of 2023.
Strengthening financial supervision and preventing risks are the main themes of financial work, and adhering to the Party leadership on financial work is necessary to improve the financial regulatory system, Zhang Wei, vice-chair of the Tsinghua University National Institute of Financial Research, said in an interview with the Global Times recently.
Chinese stocks soared on Thursday on the back of a series of newly-announced supportive macro policies, with the Shanghai Composite Index growing up 3.03 percent to climb above the 2,900-point mark.
The US government is actively trying to slow the Chinese economy through trade and technology barriers. The US government and the US mainstream media are promoting the view that China's economy is in trouble. The US government's mischief will fail, as it should.
Singapore is currently among the top five of popular travel destinations among Chinese tourists ahead of the upcoming Spring Festival holidays which kicks off from February 10, data the company sent to the Global Times showed on Thursday.
The government of the Hong Kong Special Administrative Region (HKSAR) on Wednesday clarified video clip about investment plan put forward by the HKSAR Chief Executive was done by artificial intelligence (AI), and called on the public to be aware of the scam content.
Chinese stocks soar on Thursday, with Shanghai composite index up 3.03%, or 85.34 points higher
China's luxury market is expected to grow at mid-single-digit in 2024 following an overall rebound last year, while Chinese luxury consumption is expected to reach 35-40 percent of the world's total by 2030, according to a report released by global management consulting firm Bain & Company on Thursday.
The long-term trajectory of China's development remains promising. Betting against China has never succeeded in the past, and will not succeed in the future, China's Ambassador to the UK Zheng Zeguang said recently in a keynote speech delivered at the Asia House Annual Outlook 2024 Launch in London.
The China Chamber of Commerce to the EU (CCCEU) on Wednesday expressed concerns about the impact of the European Economic Security Package (EESP) presented by the European Commission (EC), warning that the move may shatter the confidence of Chinese businesses investing and operating in Europe.
The pre-Spring Festival ticket sales peak has arrived for China's railway system, with over 61 million tickets sold since January 12, a year-on-year increase of 159 percent, China State Railway Group Co (China Railway) announced on Wednesday.
An employee produces tofu at a workshop in the city of Yongzhou, Central China's Hunan Province on January 24, 2024 in preparation for the upcoming Chinese Spring Festival holidays in February. The tofu industry has become a thriving business, creating jobs and contributing to local economic development. Photo: VCG
It is worth noting the self-contradicting attitude of the West, represented by the US, toward China-Africa relations. On one hand, the Western media rampantly hypes a cooling of Africa's interest in China, while on the other hand, American politicians closely follow China's footsteps in Africa.
China plans to launch a "2024 Spring Breeze Action" from late January to early April, aiming to create 30 million job openings. Experts noted on Wednesday that the initiative is to stabilize employment and boost the economic recovery as the new year begins.
China's increasing industrial investment does not equate to "a crisis of overcapacity." Whether China exports advanced production capacity or excess capacity should be determined by the global market, instead of Western politicians and media outlets.
China will increase investment in technological innovation to bolster strategic emerging industries, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said on Wednesday during a press conference, in a move to accelerate the country's technology advancement and foster new productive forces.
A delegation of senior Japanese business leaders, led by the head of the Japan-China Economic Association (JCEA) Shindo Kosei, has been visiting China since Tuesday, the first such visit in four years.
China's benchmark Shanghai Composite Index posted a V-shaped rebound on Wednesday after the securities regulator vowed to strengthen investor protection and oversight of listed companies. Analysts said that Chinese authorities have the confidence and resolve to maintain the healthy and steady development of the country's financial sector, with sufficient policies in their toolkit.
The Chunyun or Spring Festival travel rush in 2024, the world's largest annual human migration, will run from Friday to March 5 for 40 days, with nine billion passenger trips expected to be made, marking a new historical high. China's consumption in 2023 played a vital role in bolstering the country's economic development, as final consumption contributed 82.5 percent of the total GDP growth. The strong momentum is expected to last in 2024, with the foreseeable booming Chinese New Year holidays poised for a steady recovery.
The People's Bank of China (PBC), China's central bank, will cut the reserve requirement ratio (RRR) for all banks by 50 basis points, the amount of cash that banks must hold as reserves, from February 5, providing the market with approximately 1 trillion yuan ($141.05 billion) of long-term liquidity, PBC governor Pan Gongsheng announced on Wednesday.
China's central bank will set up a new credit market department in a bid to guide financial institutions to implement corresponding work focusing on technology finance, green finance, inclusive finance, pension finance and digital finance, Pan Gongsheng, governor of the People's Bank of China (PBC) announced on Wednesday at a press conference.
China said it will increase investment on technological innovation to bolster strategic emerging industries, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said on Wednesday, in a move to accelerate country's technology advancement and foster new productive forces.
People's Bank of China says it will cut commercial lenders' reserve requirement ratio by 0.5 percentage points on February 5
China's central bank says it will establish a credit market department
China's securities regulator said on Wednesday that it will put investor interest first and foremost in equity market system design and regulation enforcement, and will continue to improve investor protection mechanism in a bid to build an open and fair market and legal environment that ensures fairness and transparency.
China plans to launch a “2024 Spring Breeze Action” nationwide from late January to early April, aiming to create 30 million jobs, the Ministry of Human Resources and Social Security said on Wednesday.
The Chinese mainland's financial sector remains stable, with risks all remaining controllable. Officials have confidence, conditions and capability to maintain healthy and steady development of the financial sector, Li Yunze, head of the National Financial Regulatory Administration (NFRA), said at the Asian Financial Forum which kicked off in the Hong Kong Special Administrative Region on Wednesday.
The EU is scheduled to unveil an economic security strategy on Wednesday "to shield key technology from China," Bloomberg reported on Monday. While the US government is abusing the concept of "economic security" and pressuring its allies to participate in its semiconductor war against China, it is concerning that the EU's economic security strategy may be subject to the US influence.
China to launch “2024 Spring Breeze” plan, aiming to create 30 million jobs from late Jan to early Apr: ministry
China saw steady expansion of employment in 2023, with the emerging digital economy and technology sectors creating more opportunities for young job seekers, multiple industry insiders and enterprises have told the Global Times.
China's National Association of Financial Market Institutional Investors (NAFMII) said on Tuesday that 10 more foreign-funded institutions have been approved as lead underwriters or underwriters of debt financing instruments for non-financial enterprises, in a major step for financial opening.
The Global South is the source of strength for global multi-polarity and now it has got an important opportunity to play a larger and more significant role on the world stage.
The China Securities Regulatory Commission (CSRC) on Tuesday vowed to make “all efforts” to maintain the stable operation of the capital market, saying that it would put more emphasis on stability and strive to stabilize the market and investors' confidence.
Bookings of Chinese tourists for outbound travel during the upcoming Spring Festival holidays (February 10-17) have boomed, as the eight-day holidays are expected to become a global Golden Week, serving as a shot in the arm for the global tourism recovery.
China's economic powerhouses, including Shanghai and South China's Guangdong Province, released their "report cards" for 2023 and their respective goals for GDP growth in 2024 on Tuesday, showcasing significant progress in industrial upgrading and an increase in foreign investment.
The reported visit to China by a delegation of senior Japanese business leaders, led by Shindo Kosei, head of the Japan-China Economic Association, comes in time to strengthen communication and coordination in order to stabilize bilateral economic relations. According to Japanese media outlets, this is Japanese business leaders' first visit to China in approximately four years.
Saudi Arabia, as one of the earliest countries to participate in the joint construction of the China-proposed Belt and Road Initiative (BRI), has demonstrated a strategic alignment with its own Vision 2030. This synchronization has injected significant momentum into the economic and trade development of the two countries. The robust economic complementarity between the two countries creates vast opportunities for collaborative fields, ranging from energy and transportation to finance and technology. In a recent exclusive interview with Global Times (GT) reporter Yin Yeping, Mohammed A. Al Ajlan (Al Ajlan), chairman of Saudi Chinese Business Council, highlighted the fruitful results of bilateral cooperation and expressed optimism for stronger economic ties.
Chinese industry insiders and experts are hailing the fruitful achievements between China and Uzbekistan as bilateral ties experience a historic high against the backdrop of the state visit of Uzbek President Shavkat Mirziyoyev to China, scheduled from Tuesday to Thursday.
China-Switzerland cooperation has bright prospects and China's visa-free policy for Switzerland will facilitate bilateral economic ties, said Felix Sutter, president of the Swiss-Chinese Chamber of Commerce (SCCC).
China's grain production surpassed 1.3 trillion jin (650 million tons) in 2023. The continuous bumper harvests, together with the ongoing optimization of the crop variety structure and abundant grain reserves, have guaranteed the country's food security, Chinese officials said on Tuesday.
China's pilot projects on industrialization of genetically modified (GM) corn and soybeans have shown promising results in terms of increased production and reduced costs, the Ministry of Agriculture and Rural Affairs (MARA) said on Tuesday.
The Chinese stock market rallied on Tuesday after hitting the three-year low, boosted by a State Council meeting vowing to take “stronger, more effective measures” to stabilize the capital market and improve market confidence.
Chinese tourists are returning to the world, and the Spring Festival holidays are expected to see outbound travel peak, according to reports of Chinese online travel platforms Qunar, Tongcheng Travel and Trip.com.
The GDP of Guangdong Province, an economic powerhouse in South China, reached 13.57 trillion yuan ($1.89 trillion) in 2023, growing by 4.8 percent year-on-year, Guangdong's governor Wang Weizhong said Tuesday.
Lijian-1 carrier rocket developed by Chinese private aerospace company CAS Space sent five satellites into the planned orbit, the company told the Global Times on Tuesday, consolidating China's launching capacity of low and middle orbiting satellites.
China's State Council, the cabinet, on Monday said that increased medium and long-term funds should be brought into the country's capital market and the inherent stability of the market should be enhanced.
Shanghai's GDP has expanded by 5 percent year-on-year in 2023 and saw the actual use of foreign capital hit record high as the city remained the top choice for multinational enterprises, Shanghai mayor Gong Zheng announced in the city's government work report on Tuesday.
US financial institute BlackRock said the reported selling of an office tower in Shanghai will have no impact to the company's operation, and vowed to continue its business in China, China Securities Journal reported on Monday.
China's overseas courier delivery volume in 2023 saw year-on-year growth of 52 percent, official data showed on Monday, demonstrating continuing improvement in the nation's cross-border e-commerce market.
China has unveiled a comprehensive reform plan for Pudong New Area, with a focus on the financial market and technology development, according to the plan issued on Monday by the General Office of the Communist Party of China Central Committee and the General Office of the State Council.
China's gallium exports fell 66 percent year-on-year to $8.47 million last year, while those of germanium edged down 8.2 percent to $48.42 million, data from Chinese customs showed, a trend that industry observers said reflected multiple factors – including market demand adjustment, soaring material prices as well as certain time needed for application reviews after metal export controls took effect.
Chinese officials vowed on Monday to fully implement a recently released development plan for the “silver economy,” or the eldercare industry, to cope with an aging population and foster new economic growth drivers. A number of Chinese companies have also been stepping up investment in the industry that could be as big as 30 trillion yuan ($4.18 trillion) by 2035.
Saudi petrochemical giant Saudi Basic Industries Corp (SABIC) announced on Sunday its final investment plan for establishing a petrochemical complex in East China's Fujian Province, together with a local Chinese company, according to the company's statement on its official WeChat account on Monday.
China's central bank on Monday kept its loan prime rates (LPRs) for January unchanged from the previous month, with the one-year LPR at 3.45 percent and the five-year LPR at 4.20 percent.
China and Pakistan have reaffirmed their commitment to widen and deepen cooperation under the China-Pakistan Economic Corridor (CPEC), with a focus on project security and third-party participation.
China's National Bureau of Statistics (NBS) on Monday vowed to thoroughly investigate and deal with cases of violations of discipline and laws in statistics and will adopt a zero-tolerance stance, in line with the newly revised Regulations on Communist Party of China (CPC) Disciplinary Action.
US lawmakers have reportedly banned the Defense Department from purchasing batteries produced by China's largest manufacturers. Although this restriction has not yet been applied to commercial purchases, an economic decoupling of the Pentagon's supply chain from China has become a matter of concern. There are worries that this anti-market suppression against Chinese battery manufacturers may escalate, resulting in negative consequences for both sides.
Since the beginning of 2024, Sentury Tire, a renowned Chinese tire manufacturer, has been operating its factory at full pace to keep up with the overwhelming overseas demand.
Chinese travelers' ice and snow enthusiasm in Harbin city, Northeast China's Heilongjiang Province, is a signal telling the country's growing tourism market demand and people's consumption power, which also creates new opportunities for other countries including Switzerland, said China's Foreign Ministry.
A spokesperson from China's Foreign Ministry denounced some media reports that suggested international talented people are increasingly hesitant to work and live in Hong Kong, adding that those reports are untenable and irresponsible.
China's Ministry of Industry and Information Technology (MIIT) has launched specific manufacturing standards for electronic devices used by the elderly, aimed to propel optimization and sales of more than 140 million smart phones and smart television sets for them.
The “China threat” bubble fermented by US politicians is getting bigger, while their real intention of curbing China's development under the guise of national security is also becoming more pronounced, Wang Wenbin, spokesperson from China's Foreign Ministry, said on Monday.
China's Ministry of Industry and Information Technology (MIIT) recently took a significant step to support the development of the metaverse by forming a standard-setting working group, which consists of industry giants such as Huawei, Tencent, Ant Group and Baidu, as well as leading universities and institutions.
American pundits, driven by ideology, have been predicting an imminent collapse of Chinese economy since early this century, but so far, they haven't succeeded as they have underestimated Chinese system's resilience.
China's imports of Australian coal recovered to more than 50 million tons in 2023, a big increase from the trivial amount in the previous year, data from China's General Administration of Customs (GAC) showed. It's a living example of the return of market confidence in the Australian major trade good amid thawing bilateral trade relations over the past year.
China's first domestically made large cruise ship Adora Magic City has carried nearly 10,000 people on three commercial voyages to South Korea and Japan starting from January 1 this year, China Media Group (CMG) reported on Sunday.
As of Sunday, 12 Chinese provinces and municipalities had released their 2023 economic “report cards”, with nine reporting growth rates that surpassed the national average and five reaching new milestones in total output.
Videos that circulated on social media showing Jensen Huang, president and CEO of Nvidia, dancing in a Harbin-style cotton coat were proven to have happened at the company's 2024 Beijing New Year Party in the past week, several media outlets reported, citing insiders of Nvidia.
The world economic recovery is expected to remain slow and imbalanced in 2024, with China to continue to lead global growth with a GDP gain of 5 percent, a report showed on Saturday. Analysts said China's GDP growth is expected to reach 5 percent this year, calling for stepped-up fiscal policy to further tap the potential of domestic demand.
Several US lawmakers have again invoked so-called security concerns to launch a probe into the Swedish-Swiss multinational engineering giant ABB Group's operations in China. Experts noted on Sunday that it is another typical case of US lawmakers politicizing normal business activities.
China unveiled its first domestically produced transmission electron microscope (TEM), the TH-F120, on Saturday, the Science and Technology Daily reported. The groundbreaking development, led by the Bioland Lab, marks a major breakthrough in core technologies and manufacturing capabilities of the country, challenging dominance of foreign brands in the highly competitive market.
Trains made by China's rolling-stock maker CRRC, the country's largest rolling stock manufacturer by production volume, are the fastest rolling stock in South America market, said the company.
China's courier delivering volume totaled 132 billion parcels in 2023, ranking first in the world for the 10th consecutive year, the China Federation of Logistics and Purchasing (CFLP) said on Saturday.
China's economic growth rate is expected to reach around 5 percent in 2024, reversing a continuous trend of decline in GDP growth seen since 2009, Li Daokui, director of Tsinghua University's Academic Center for Chinese Economic Practice and Thinking, told the Global Times on Saturday.
A total of 11 provinces and municipalities in China have released their economic "report cards" for the year 2023 as of Saturday, among which eight reported growth rates surpassing the national average, while five have reached new milestones in total output. This highlighted the growth resilience and vitality of major Chinese economic powerhouses which are expected to further lead the recovery of the world's second largest economy in 2024.
The impact of the tense situation in the Red Sea region on logistics in the Persian Gulf route is gradually diminishing, with spot market booking prices continuing to decline, according to the Shanghai Shipping Exchange on Saturday.
South Korea has recently unveiled its plan to establish what it calls a "semiconductor mega cluster" in southern Seoul by 2047 by promoting a total investment of 622 trillion won ($472 billion) with Samsung Electronics and SK Hynix Inc, Yonhap News Agency reported.
China's top securities regulator said on Friday that it will seriously crack down on all types of violations in accordance with the law, with a specific focus on strengthening regulation of financial fraud.
China attracted a total of 1.13 trillion yuan ($158.7 billion) in foreign investment in 2023, dipping by 8 percent year-on-year but still at a very high level, China's Ministry of Commerce (MOFCOM) revealed on Friday. Experts said it shows China still has strong competitiveness in the global investment market.
The China-US financial working group held its third meeting from Thursday to Friday in Beijing. The two sides engaged in "professional, pragmatic, candid, and constructive" discussions on issues related to the stability of the two countries' currencies and finance, financial regulation, financial markets, cross-border payments and data, sustainable finance, anti-money laundering and counter-terrorism financing, global financial governance, and other key issues of common concerns: statement from China's central bank.
China-US exchanges in financial and economic fields got off to a good start in the new year, with the world's two largest economies signaling a deepening of engagement in various fields from financial stability to trade policies in the first month of 2024.
China is willing to work with the US to implement the important consensus reached at the summit in San Francisco between the two heads of state, promoting the healthy, stable, sustainable development of bilateral ties, Chinese Vice Premier He Lifeng said while meeting with US delegation of China-US financial working group in Beijing on Friday. The US delegation is in China to participate in the third meeting of the working group.
China's scale of computing power in 2023 ranked second in the world and the number of domestic artificial intelligence (AI) enterprises surpassed 4,400, China's Ministry of Industry and Information Technology (MIIT) revealed on Friday, underscoring the nation's steady progress in multiple key technology sectors and improving innovation capability.
China's manufacturing industry remained the world's biggest in terms of scale for the 14th consecutive year in 2023, with several sectors such as auto and shipbuilding ranking top in the world, a senior Chinese industry official said on Friday, offering more evidence of China's solid economic performance in 2023 despite various challenges.
China's online retail sales in 2023 recorded a year-on-year increase of 11 percent to 15.42 trillion yuan ($2.17 trillion) – remaining the world's largest online retail market for 11 consecutive years
China's scale of computing power in 2023 ranked second in the world and the number of domestic artificial intelligence (AI) enterprises surpassed 4,400, said China's Ministry of Industry and Information Technology (MIIT) on Friday, indicating steady progress across the country's key technology sectors.
China's Ministry of Industry and Information Technology said on Friday that China's auto exports jumped by 57.9 percent year-on-year to 4.91 million units, meaning China became the world's biggest auto exporter for the first time.
Customers purchase flowers at a market in Jinhua, East China's Zhejiang Province on January 18, 2024. The peak shopping season for flowers has commenced ahead of the Chinese New Year holidays in February. Local and regional flower orders are on the rise, contributing to a notable increase in business for the city's flower industry. Photo: VCG