China will take a multi-pronged approach to improve the new system for mobilizing resources nationwide to boost the overall performance of our country's innovation system while also building a self-supporting and risk-controllable industrial chain, especially in key industrial chains such as integrated circuits, industrial machine tools, industrial software, and advanced materials, according to a resolution on further deepening reform comprehensively to advance Chinese modernization that was adopted at the just-concluded third plenary session of the 20th Communist Party of China (CPC) Central Committee.

Brazil's interest in joining the BRI demonstrates that it is not swayed by unfounded criticism from Western countries and is committed to making independent decisions that benefit its own development.

Further progress in practical cooperation between China and Russia is expected as a result of frequent and continuous high-level official exchanges and intensified cooperation among localities, Chinese analysts said on Sunday.

Recent US solar sector bankruptcies have revealed a significant decline in its industrial competitiveness due to trade barriers, Chinese experts said on Sunday, noting that Chinese solar firms, with reduced dependence on the US market and driven by continuous technological innovation and supply chain advantages, will remain unaffected and continue to expand globally.

The Chinese economy in the first half of 2024 showed resilience and vitality, with upbeat GDP figures for many provinces and municipalities, fueled by favorable factors such as the thriving high-tech industry, robust foreign trade, an expanding services sector and growing investment.

A ceremony for the first shipment of whiteleg shrimp from Honduras to China was held in Choluteca city of the Latin American country, the Xinhua News Agency reported on Sunday, indicating closer economic and trade ties as bilateral free trade agreement (FTA) negotiations proceed.

Foreign investors increased their holdings of Chinese bonds in June for a 10th consecutive month, and the amount hit a new high, data showed. Observers said on Sunday these figures underscore foreign capital's strong confidence in the stable growth prospects of the world's second-largest economy, and their positive feedback on steady progress in financial market opening-up.

China imported 1,346 tons of pork products from Russia in June, quadrupling May's figure, data from the General Administration of Customs (GAC) showed over the weekend.

China's Ministry of Science and Technology reported on Saturday detailed cases of academic misconduct in national key research and development (R&D) projects and announced strict measures against researchers involved in plagiarism and unethical lobbying in project applications.

China delivered world's first 14,000-cubic-meter liquefied natural gas (LNG) bunkering and transport vessel capable of river-sea navigation at Shanghai, breaking international technology barriers with a record of over 85 percent of localization rate.

The European Commission (EC) made many unlawful findings in the preliminary determination on tariffs over Chinese imported electric vehicles (EVs), incompatible with WTO and EU rules, according to the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME).

​The ninth review of China's trade policies and practices by the World Trade Organization (WTO) concluded on Friday in Geneva, Switzerland. Throughout the session, the Chinese delegation, led by Vice Minister of Commerce Li Fei, actively and comprehensively addressed concerns raised by WTO members about China's economic and trade policies, firmly refuting any unfounded accusations.

Workers load domestically manufactured pressure vessel tanks for export in Zhangjiagang Port, East China's Jiangsu Province on July 19, 2024. According to data released by the National Bureau of Statistics, China's exports for the first half of 2024 amounted to 12.13 trillion yuan ($1.67 trillion),marking a 6.9% increase from the previous year. Photo: VCG

​A software update from American cybersecurity technology company CrowdStrike caused a global technical havoc on Friday, leading to suspended flights, disrupted public services, and paralyzed payment systems worldwide. The incident highlights the significant security risks associated with global dependence on a handful of US corporations, experts warned.

Opening up to a global market is always a tricky problem. This covers multiple aspects, from commodity trade to foreign investment to financial market reforms and governance. Combining our research paper with future projections, I may conclude: in the long run, there are no visible signs of production overcapacity in the new-energy sector, as demand will far outweigh supply. With the Belt and Road Initiative (BRI), China can help other developing countries and transform their lives through our own experience in industrialization.

The rise of urban clusters is undoubtedly a significant impetus propelling China's economic miracle. In a recent interview with the Global Times (GT) reporters Bai Yunyi and Wang Yi, Alain Bertaud (Bertaud), a former chief urban planner at the World Bank and author of "Order Without Design: How Markets Shape Cities," discussed the rise of Chinese urban clusters and the influence on China's economic growth.

The US' reported move to tighten export controls on semiconductors targeting China by taking stricter measures to pressure companies in countries such as Japan and the Netherlands severely deviates from the principles of free trade and multilateral trade rules and severely impacts the stability of global industrial and supply chains, a spokesperson from China's Ministry of Commerce (MOFCOM) said on Friday, in the latest remarks over US export controls targeting China.

EU car companies should take advantage of the significant opportunities in the Chinese market, as the nation vows to advance high-level opening-up and further relax market access, Chinese officials and experts said, following the conclusion of China's third plenary session this week, which unveiled a number of reforms and opening-up measures.

Chinese officials as well as domestic and foreign observers on Friday applauded the adoption of a resolution on further deepening reform comprehensively to advance Chinese modernization, highlighting China's resolve to maintain focus in pursuing high-quality development and share opportunities with the world through further opening-up to better empower the world economy and development.

China's economy is on track for stable growth, with strong policies and reforms needed for a sustainable economic recovery, a Chinese official said following a key meeting to draw up the next blueprint for China's economy.

China's Ministry of Commerce (MOFCOM) announced on Friday a 43.5 percent anti-dumping tariff on imports of propionic acid from the US, starting Sunday. It follows a yearlong investigation that found US dumping led to substantial harm on the Chinese chemical industry.

China is supporting private enterprises in leading major technological breakthroughs, emphasizing the improvement of mechanisms for their participation in national projects. This is part of a series of significant measures launched following the recently concluded third plenary session of the 20th Central Committee of the Communist Party of China.

China and Japan trimmed their holdings of US Treasury bonds in May in a move that reflects the growing worry about US economic risks, experts said.

Chinese battery producer Contemporary Amperex Technology Co (CATL) on Thursday evening dismissed a foreign media report claiming that the company is in talks with Russian company Nornickel to build a plant, together with several other companies, somewhere in China.

China's Ministry of Commerce (MOFCOM) issued notice on Thursday, saying that investigating authorities will use a sampling method in anti-dumping probe into EU pork, while providing further details on the sampling plan and the preliminary sampling results for anti-dumping case involving pork and pig by-products from Europe.

The 20th Central Committee of the Communist Party of China (CPC) adopted a resolution on further deepening reform comprehensively to advance Chinese modernization at its third plenary session, drawing up a sweeping blueprint that will guide China's reform and opening-up for years to come, according to a communique released on Thursday.

US Secretary of State Antony Blinken unveiled Wednesday a new program to boost production of semiconductors in some Latin American countries. It's not a bad thing if Latin American countries gain manufacturing investment from the US. What's concerning is whether this is just "lip service" from the US.

China must remain firmly committed to accomplishing the goals for this year's economic and social development. This was highlighted in the communique of the third plenum, a key meeting convened in Beijing to draw up the next blueprint for China's economy, among other key topics, released on Thursday.

A hearing on an anti-dumping investigation into imported brandy from the EU was held at China's Ministry of Commerce (MOFCOM) on Thursday, attended by stakeholders from 26 parties, including the EU Delegation to China, and embassies of several EU member countries including France, Spain and Italy, as well as business representatives.

German financial services group Allianz's wholly owned public fund manager in China is actively expanding its businesses in the Chinese mainland, as official information showed that the company has filed applications for two public fund products with China's top securities regulator.

China's outstanding contributions to promoting global economic growth, maintaining multilateral trading mechanisms and supporting the reform agenda of the WTO have received wide endorsements during the ongoing ninth review of the trade policies and practices of China by the WTO being held in Geneva, Switzerland, the Xinhua News Agency reported.

Several Chinese provinces, cities and regions set new foreign trade records in the first half of the year, with an improvement in both imports and exports. These trends contributed to the stability of global supply chains and injected more impetus into the world economy.

The yuan maintained its position as the fourth most active currency - accounting for 4.61 percent - in the global payment system in June for the eighth consecutive month, new data show.

The presence of foreign financial institutions in China is not static, with some entities entering and others exiting the market. China's continuous commitment to accelerating high-quality opening-up of its financial sector will increasingly earn recognition from global financial institutions.

For the development of the new quality productive forces and promoting Chinese-style modernization, innovation and reform are the driving forces. Enhancing innovation can provide strong momentum for promoting Chinese-style modernization through continuously deepening and expanding the reform.

When it comes to Tanzania, one must remember the Tanzania-Zambia Railway, operational since 1976. Constructed during challenging times for China, this vital transport link was a lifeline for the development of African countries, deeply cherished by both sides. Over the years, cooperation between China and Tanzania has grown even closer, particularly in infrastructure, yielding abundant results. On the 60th anniversary of the establishment of diplomatic relations between the two countries, Global Times (GT) reporter Yin Yeping conducted an exclusive interview with the Ambassador of Tanzania to China Khamis Mussa Omar (Omar), who shared insights on the bilateral cooperative achievements and new opportunities. The ambassador said that Tanzania needs responsible investments, while Chinese entrepreneurs value a secure investment environment, presenting a promising future match. He also rebutted claims of debt traps, emphasizing that the China-proposed Belt and Road Initiative (BRI) has played a crucial role in fostering African development.

Chinese industry insiders and experts said India's reported plan to make it easier for Chinese citizens to get visas to visit India is positive for people-to-people exchanges between the two countries, which is facing a surge in demand in the post-pandemic era.

As the Paris 2024 Olympic Games rapidly approaches, it's not just an opportunity for athletes to showcase their talent but also a moment for China's "Yiwu-made" products to shine on the global stage. "Made in China" Olympic-related items such as flags, wristbands, and trophies have now arrived in Paris, ready for both athletes and spectators.

Daughter of the founder of Chinese beverage giant Wahaha Group has reportedly resigned as vice chairman of the company, according to media reports on Thursday.

As to market gossip that BMW China will withdraw from the fierce price competition in the Chinese mainland market, the group said on Thursday that BMW, in the second half of the year, will focus on “business quality” and help support dealers stabilize sales.

International auditing company PricewaterhouseCoopers (PwC) will reportedly reduce about 50 percent of its financial services audit staff in China, in addition to discharging about 20 percent of its staff in other auditing lines and non-auditing businesses.

The Ministry of Commerce (MOFCOM) held a roundtable on Wednesday to discuss the country's program of large-scale equipment upgrades and trade-in initiatives for consumer goods, aiming to explain the policies to foreign investors, address their questions about investment and cooperation in China, and encourage foreign companies to seize the opportunities.

UBS Group AG said in a research note that new tariffs of 60 percent on all Chinese exports to the US would more than halve China's annual GDP growth rate, Bloomberg reported on Tuesday. Such anxiety is groundless. It is absurd to exaggerate the threat that protectionist US tariffs pose.

As the third plenary session of the 20th Communist Party of China (CPC) Central Committee is underway in Beijing, many around the world are closely following the crucial meeting for signals of China's reform and opening-up agenda, with many foreign businesses expressing confidence in China's long-term development prospects.

China has seen a significant decrease in urban youth unemployment, fueled by an economic recovery and the expansion of new industry sectors, new figures showed.

The Group of Seven (G7) trade ministers met in Italy on Tuesday and Wednesday, with China-related topics - including concerns about so-called overcapacity in China's new-energy vehicle (NEV) sector - once again in focus. UK Trade Secretary Jonathan Reynolds indicated that the UK is not currently planning to impose strict tariffs on Chinese EV imports, but will remain "vigilant," according to a media report.

Global confidence in stable growth in China's economy continues to improve, as some international organizations and multinational banks have projected 5 percent GDP growth in China in 2024, thanks to remarkable performances in areas such as exports, even as many major economies and the global economy as a whole face serious downward pressure.

China made significant strides in expanding investment in major infrastructure projects such as transportation networks and water conservancy in the first half of the year, a move that has injected fresh momentum into the economy, experts noted on Wednesday.

Prices of spot gold and futures have reached a new high on Wednesday. Facing a rapidly evolving global economy, gold, a traditional safe haven asset, has again become the focus of the market.

China expressed hope that relevant countries can "distinguish right from wrong" concerning the US government's vicious containment and suppression of China's semiconductor sector, and these countries could take firm measures to resist the US, a Chinese Foreign Ministry spokesperson said on Wednesday.

Three Chinese photovoltaic (PV) giants including JinkoSolar Co and TCL Zhonghuan Renewable Energy Technology Co announced big business deals on Tuesday, the same day that two exchange-traded funds (ETFs) tracking large Saudi companies debuting on the China's A-share market, highlighting the strengthening trade and financial cooperation between China and the Middle East.

Gross domestic credit extended by banks operating in Abu Dhabi in the first four months of the year grew by 5 percent or AED45.8 billion to AED 961.9 billion from AED915.9 billion at the end of last year, according to UAE banking indicators by emirate released by the Central Bank of the UAE (CBUAE).

The IMF on Tuesday raised China's GDP growth forecast for 2024 to 5 percent in its latest World Economic Outlook (WEO), pointing to a steady rebound in domestic consumption and a surge in exports. The move also indicates growing global confidence in the outlook for the world's second-largest economy.

Conditions have now been satisfied for Rio Tinto to invest in the development of the Simandou high-grade ore deposit in Guinea, including the completion of the necessary regulatory approvals from both the Guinean and Chinese sides, the Anglo-Australian mining company said in a press release on Tuesday, marking another step toward production at the world's largest undeveloped iron ore mine.

In one of his most recent public remarks regarding the third plenary session of the 20th Communist Party of China (CPC) Central Committee, Chinese President Xi Jinping said during a meeting with Hungary's Prime Minister Viktor Orban in Beijing on July 8 that China will further deepen overall reform and promote high-quality development and high-level opening up, which will provide new opportunities and create new momentum for China-Hungary cooperation. The remarks succinctly highlighted the focus of the critical session and its profound significance for both China and the world.

Apple Inc's annual sales in India jumped 33 percent to a record of almost $8 billion in the year through March, underscoring a rapidly growing market where the iPhone maker now assembles more of its devices, Bloomberg reported on Monday, citing a person familiar with the matter.

EU member states reportedly completed an "advisory" vote on Monday regarding the additional tariffs on imports of China-built electric vehicles (EVs) with mixed results, Reuters reported.

China's real estate sector has made steady progress in ensuring the punctual delivery of homes in the first half of the year, with the top 10 developers delivering 700,000 homes, underscoring the effectiveness of the policy support given to the sector through a period of necessary correction.

China's shipbuilding industry has made significant gains in the first half of 2024, with revenue and profits rising as the country secured almost 75 percent of new global orders, demonstrating the growing momentum of Chinese manufacturing.

The International Monetary Fund (IMF) released on Tuesday an update to its World Economic Outlook, predicting that China's economic growth rate will be 5 percent in 2024, an upward revision of 0.4 percentage points from the forecast in April.

China's outbound tourism to Southeast Asia has maintained a positive momentum during the busy summer travel season, supported by increased visa-free policies and enhanced travel facilitation measures.

Shanghai is set to begin public testing of autonomous cars as early as next week, offering free rides for residents throughout the trial period, marking a significant step forward in China's intelligent transportation.

China's national carbon emissions trading market celebrated its third anniversary on Tuesday, a milestone in the country's efforts to combat global climate change.

Chinese automaker SAIC Motor Corp is reportedly considering building its first electric vehicle (EV) factory in Europe in Spain to produce MG-branded EVs. Chinese observers said the move is common among international automakers amid rising local demand. They urged the EU to create a fair and transparent business environment for Chinese companies, saying that the EU should cooperate with China to improve the mutually-independent EV industrial and supply chains to deliver win-win results.

Pakistan and China are deepening cooperation in emerging green sectors through the China-Pakistan Economic Corridor (CPEC), Mustafa Hyder Sayed, executive director of the Pakistan-China Institute told the Global Times in a recent exclusive interview.

The 20th Central Committee of the Communist Party of China (CPC) started its third plenary session in Beijing on Monday morning, where top Party officials will set the direction for China's further comprehensively deepening reform that will carry significant importance for China's economic and social development for years to come.

The first-half value-added of industrial enterprises above the designated size grew by 6 percent year-on-year, according to data from the National Bureau of Statistics (NBS) on Monday, reflecting a strong start to China's industrial performance this year and demonstrating a sustained trend of recovery, despite facing multiple challenges.

With talks to upgrade the India-South Korea free trade agreement (FTA) moving forward, senior officials of both countries will hold the next round of negotiations from Wednesday in Seoul, Indian news agency PTI reported, citing "an official."

China has issued an action plan to promote the low-carbon transformation of coal-fired power, with plans to diversify financing channels and grant preferential loan policies to qualified projects.

China's first real-trade service of a multi-central bank digital currency (m-CBDC) was launched in South China's Guangdong Province on Monday, an important breakthrough in the application of digital currencies in cross-border payments.

China added another three entry ports to its 144-hour visa-free transit policy on Monday, expanding the policy coverage to 37 ports in total, which will help boost local inbound tourism where the ports are located and promote local economic development through the lifting of services industries and consumption.

To cope with the peak electricity consumption in summer, many regions in China have urged government agencies, businesses, and residents to join in efforts to conserve energy, such as reducing decorative lighting, suspending unnecessary light shows, and promoting the use of energy-efficient appliances.

China's GDP expanded 5 percent to reach 61.68 trillion yuan ($8.49 trillion) in the first half of 2024, data from the National Bureau of Statistics (NBS) showed on Monday, demonstrating the resilience and innate strength of the world's second-largest economy.

Chinese centrally administered state-owned enterprises (SOEs) set up a marine engineering innovation consortium on Monday, aiming to foster scientific breakthroughs and break technological bottlenecks constraining the development of the fast-growing marine industry, which plays a key role in China's harnessing of its marine resources.

Editor's Note: In the height of summer, the eyes of the world are focused on Beijing, as the third plenary session of the 20th Communist Party of China Central Committee is being convened to draw up the next blueprint for China's economic development, among other key topics.

China's industrial production continues to exhibit robust growth, surpassing market expectations, with equipment and high-tech manufacturing sectors emerging as the new growth highlights.

China's National Bureau of Statistics (NBS) released new data on Monday indicating a narrowing decline in residential property prices across 70 major cities, with pre-owned secondary homes in Beijing and Shanghai recording price increases for the first time this year.

​While there are fluctuations in the growth trajectory of China's economy in the second quarter this year, the trend is positive, said a spokesperson from the National Bureau of Statistics (NBS) on Monday.

Witnessing its economy growing by 5.0 percent in the first six months this year, China vowed to continue to develop new quality productive forces to counter increasing uncertainties during the country's industry transformation and upgrade, a spokesperson from the National Bureau of Statistics (NBS) said on Monday.

The surveyed average urban unemployment rate in China came in at 5.1 percent in the first half of 2024, down 0.2 percentage points from the same period last year, data from the National Bureau of Statistics (NBS) showed on Monday.

China's National Immigration Administration (NIA) announced on Monday that the country's 144-hour visa-free transit policy has been expanded to three more entry ports, taking the number of Chinese ports covered by the policy to 37.

China's GDP expanded 5 percent to reach 61.68 trillion yuan ($8.49 trillion) in the first half of 2024, data from the National Bureau of Statistics (NBS) showed on Monday, indicating the world's second-largest economy has sustained the momentum of post-pandemic recovery, thanks to a continuous improvement in overseas demand, a pick-up in home consumption, and stepped-up government policy support, despite facing internal and external uncertainties.

As the third plenary session of the 20th Communist Party of China (CPC) Central Committee will be convened on Monday, the world is watching how the pivotal gathering, also known as the third plenum, will identify priorities for comprehensively deepening reform, map out a blueprint for its long-term economic development and open up a new chapter in the country's march toward Chinese modernization.

China achieved another bumper grain harvest this summer, with the country's accumulative summer grain output rising 2.5 percent from a year earlier to reach 149.78 million tons, the National Bureau of Statistics (NBS) announced on Friday.

Farmers in Guodian township, Shangqiu city in Central China's Henan Province, feed newly hatched ducks on July 14, 2024. In recent years, Guodian has accelerated its agricultural industrialization. The town has established 31 farming zones, raising 1.2 million egg-laying ducks, with annual sales revenue exceeding 2 billion yuan ($280 million). Photo: VCG

China's railway operator said that the nation's railway freight volume and turnover reached new highs in June, cementing the foundation for an economic recovery and foreign trade rebound.

Despite US government restrictions on exports of advanced products, the country's chip equipment makers are still increasingly dependent on the Chinese market, with exports to China accounting for more than 40 percent of total sales.

China on Saturday officially announced its 716-member delegation to the upcoming Paris Olympic Games. As more than 400 Chinese athletes, including 42 Olympic champions, are headed for Paris for the competitions, Chinese companies are churning out equipment and other products that will be used at the biggest sports event in the world.

China's cruise market saw a robust recovery in the first half of 2024, with 206 voyages operated by 23 cruise ships that carried 500,000 passengers, China Media Group (CMG) reported on Sunday.

China's exports in June rose by an impressive 8.6 percent from a year earlier to reach $307.85 billion, beating the 7.6 percent increase seen in May, the General Administration of Customs (GAC) said on Friday. The improvement in foreign trade is a testament to China's rising comparative advantages in manufacturing across the low-, middle- and high-end segments, as well as the resilience of China's industrial ecosystem, with its strong and globally unrivalled supply chain as its distinctive hallmark.

About 1,500 listed Chinese companies had made preliminary earnings announcements for the first half as of Sunday, with many in sectors such as semiconductors, vehicles and retail reporting remarkable revenue growth. Analysts said that the economic recovery, targeted policies to boost domestic demand and accelerated domestic replacements contributed to the positive results, and they expressed confidence in the long-term rebound of the A-share market.

As the Chinese economy has faced challenges in recent years, some Western officials and media pundits have stepped up their smear campaign against China. They cherry-pick information and distort facts to hype their narratives such as “Peak China,” but they always turn a blind eye to China's economic resilience and development potential. In order to set the record straight, the Global Times is launching a multimedia project, including in-depth articles, objective analysis and visual arts, to present a comprehensive and true picture of the economy. This is the ninth installation of the series.

Chinese experts said on Saturday that Germany's expected abstention would inject uncertainty into the European Union's vote on imposing provisional tariffs on Chinese made electric vehicles (EVs) as the move of the bloc's biggest economy is expected to sway undecided member states.

China set a new record for foreign trade in goods in the first half of 2024, representing a year-on-year increase of 6.1 percent to 21.17 trillion yuan ($2.9 trillion), data released by the General Administration of Customs (GAC) showed on Friday.

The visa-free policy introduced by the Chinese government has boosted passenger flights by more than 20 percent, the Civil Aviation Administration of China (CAAC) said on Friday.

Following a claim that BMW China will withdraw from the "price war" in the car market, the company said in a statement on Friday that in the second half of 2024, it will focus on the quality of its business in the Chinese market and support dealers to operate steadily.

On June 22, about ten days after the European Commission (EC), the executive branch of the EU, announced provisional duties on Chinese electric vehicles (EVs), Chinese Commerce Minister Wang Wentao held a video call with Valdis Dombrovskis, executive vice president of the EC, during which they agreed to start consultations over the dispute. The very next day, on June 23, China dispatched a working group to Europe for the talks. Since then, multiple rounds of consultations at the technical level have been held via video calls.

Official data showed that China's exports of mechanical and electrical products, including cars, surged in the first half of 2024, and contributed to over half of China's total exports of goods, which analysts said underscored the nation's progress in high-end manufacturing and industrial transformation.

Foreign companies are not hiding their continuous interest in the Chinese market, as they remain "very bullish" on Chinese opportunities, with some planning more investment, a sharp contrast of the so-called claims of "foreign capital leaving China."

China's foreign trade in goods reached 21.17 trillion yuan ($2.9 trillion) in H1, up 6.1% year-on-year, according to data released on Friday by the General Administration of Customs. Imports totaled 9.04 trillion yuan, up 5.2% and exports totaled 12.13 trillion yuan, up 6.9%.