Economy
China's industry watchdog announced on Monday it has summoned seven new-energy vehicle (NEV) makers that were found noncompliant during a yearly supervision and inspection and urged them to rectify their activities within set timeframes.
By Global Times | 2021/10/19 0:37:15
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  • Beijing gets go-ahead to enable foreign access to VPN services

    The State Council, China's cabinet, on Monday gave the green light to Beijing's plan to allow foreign shareholding of no more than 50 percent in domestic virtual private network (VPN) services as part of the capital city's moves to open up its services sector.

    By Global Times | 2021/10/18 21:56:07
  • HKEX launches first A-share derivatives product in fresh boost for city's financial market

    The Hong Kong Exchanges and Clearing (HKEX), the operator of Asia's third-largest stock exchange, on Monday launched its first A-share derivatives contract, offering global investors an appealing risk management tool that attests to China's economic rebalancing, as the Hong Kong Special Administrative Region (HKSAR) muscles in as an international financial hub that backstops the globalization of the country's capital markets.

    By GT staff reporters | 2021/10/18 21:28:40
  • Q3 GDP growth hits one-year low of 4.9% amid power crunch, COVID-19 resurgence

    China's GDP grew by 9.8 percent year-on-year in the first three quarters, though economic growth in the third quarter slowed to a one-year low of 4.9 percent amid unexpected economic challenges including a power crunch and coronavirus resurgence, but is still within the reasonable growth range, experts said, who remained unswerving in their expectation that China will have no problem meeting its previously set yearly economic target.

    By GT staff reporters | 2021/10/18 21:28:39
  • China's market regulator adds staff in antitrust bureau as crackdown continues

    China's top market regulator is planning to hire more employees in its Beijing head office, with the anti-monopoly bureau getting the largest number of new hires, reflecting the agency's priority to continue the crackdown campaign against monopolies.

    By Global Times | 2021/10/18 21:13:39
  • China welcomes US firms to expand investment, official says amid rising positive signs

    China welcomes US companies to expand investment in China and deepen mutually beneficial cooperation, a senior Chinese official said on Monday, adding to growing positive signs for potential improvement in China-US trade ties and implementation of the China-US phase one trade agreement.

    By Chi Jingyi | 2021/10/18 21:08:39
  • China speeds up new-energy cooperation with BRI partners amid push for green development

    China will deepen energy cooperation with partner countries under the Belt and Road Initiative (BRI) in the nuclear, new energy and smart energy sectors, as countries rise to climate challenges, Vice Premier Han Zheng said at the second Belt and Road Energy Ministerial Conference held in Qingdao, East China's Shandong Province on Monday.

    By Chu Daye in Qingdao | 2021/10/18 20:28:40
  • China's CGN to expand overseas nuclear power projects despite reported UK ousting plan

    A senior executive of China's nuclear power conglomerate China General Nuclear Power Corp (CGN) told the Global Times on Monday that there should be no security or economic problems regarding the global nuclear power development and Chinese professionals are able to address certain issues, in responding to a reported plan by the UK to oust the Chinese firm from a major project.

    By Yin Yeping | 2021/10/18 20:23:39
  • Goldman Sachs approved for China's second wholly foreign-owned brokerage

    US investment bank Goldman Sachs has received approval from the China Securities Regulatory Commission (CSRC) to take full ownership of its securities joint venture in China, Goldman Sachs Gao Hua Securities Co (GSGH), the company said on Sunday.

    By Global Times | 2021/10/18 18:58:40
  • China's housing market remains stable with limited impact on economic growth: NBS

    China's housing market remains basically stable and will not significantly affect the country's economic growth, a senior official from the National Bureau of Statistics (NBS) said on Monday.

    By Global Times | 2021/10/18 17:18:39
  • China's power shortages to be eased in near future with limited economic impact: official

    Power shortages in some parts of China will be eased in the near future with limited impact on the economy, an official from China's National Bureau of Statistics (NBS) said at a briefing on Monday.

    By Global Times | 2021/10/18 16:31:13
  • China's job market remains stable, with urban jobless rate at 4.9%

    China created 10.45 million new urban jobs in the first three quarters of 2021, completing 95 percent of the government's annual jobs target, the National Bureau of Statistics (NBS) said on Monday.

    By Global Times | 2021/10/18 13:14:13
  • Sony China fined 1 million yuan for undermining national dignity and interests

    Sony's China branch was fined 1 million yuan ($0.15 million) by Beijing's market regulator on October 12 for its advertisement related to the July 7th Incident in 1937. The company was accused of undermining national dignity and interests, Beijing Daily reported on Sunday.

    By Global Times | 2021/10/18 12:23:39
  • HKEX launched A-share derivatives product based on MSCI China A 50 Connect Index starts trading Monday

    The first A-share derivatives product launched by the Hong Kong Exchanges and Clearing Limited (HKEX) based on the MSCI China A 50 Connect Index officially start trading on Monday.

    By Global Times | 2021/10/18 11:16:19
  • North China's largest natural gas storage group enters official operation

    Natural gas storage Wei 11 in Puyang, Central China's Henan Province entered service on Monday, which means the complete of North China's largest natural gas storage group with total capacity of over 10 billion cubic meters, Sinopec told the Global Times on Monday.

    By Global Times | 2021/10/18 11:13:39
  • China's Q3 economic growth slows to 4.9% amid power crunch, supply bottleneck

    China's GDP expanded 4.9 percent in the third quarter of 2021, slowing from previous quarters amid rising economic challenges including a power crunch and the global supply chain bottleneck. The growth is slightly lower than market expectations which put it at 5 percent.

    By Global Times | 2021/10/18 10:02:00
  • Australia loses as China reportedly buys more US LNG

    Australia is set to suffer great losses in its energy trade with China, as China now reportedly seeks to lock in long-term liquefied natural gas (LNG) supplies from the US, following the recent power crunch caused by surging coal prices.

    By GT staff reporters | 2021/10/17 20:03:39
  • News analysis: On-site Canton Fair shows China's determination to boost trade

    It was exciting and even emotional to see the 130th session of the Canton Fair held in October, which was again crowded with exhibitors, buyers and services providers at halls covering 400,000 square meters, the size of about 56 football fields, after three sessions held online due to the COVID-19 outbreak.

    By Chi Jingyi in Guangzhou | 2021/10/17 19:18:39
  • Chinese vendors rush to fill Christmas orders as freight rates slide

    Christmas product sellers across China are ramping up production to make a final sprint before the Christmas season, as shipping freight rates have fallen by more than 20 percent in two weeks, Chinese vendors and logistics companies told the Global Times on Sunday.

    By GT Staff reporters | 2021/10/17 18:48:39
  • China to further deepen rectification of internet, telecom sectors: official

    China will continue deepening rectification of the country's internet and telecommunications sectors by strengthening supervision of relevant companies, in a bid to create a safe and orderly market and ensure fair competition, a senior official said on Sunday.

    By Global Times | 2021/10/17 18:28:39
  • Western crackdown inspires Xinjiang cotton industry to rise

    With white cotton blossoming in the fields and fluttering in the air like snowflakes, Northwest China's Xinjiang Uygur Autonomous Region, the country's largest cotton production base that accounts for over 85 percent of the nation's output, is embracing another bumper cotton harvest season this month.

    By Li Xuanmin in Aksu | 2021/10/17 18:23:39
  • China steps up construction of photovoltaic bases after COP15

    China is accelerating the construction of photovoltaic power stations in deserts to support its environmental protection goals and develop renewable energy after several major renewable energy projects were revealed at the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP15).

    By Global Times | 2021/10/17 17:08:40
  • China's Baosteel refutes patent lawsuit by Nippon Steel

    China's Baosteel refuted the validity a lawsuit launched by Japanese steel enterprise Nippon Steel for patent infringement, the China Securities Journals reported on Saturday. Baosteel also vowed to respond to the lawsuit and protect the company's rights and interests.

    By Global Times | 2021/10/17 16:13:39
  • Electricity price in Jiangsu surges 19.94 after China's liberalization of power pricing

    The trading price for electricity in East China's Jiangsu Province surged 19.94 percent in mid-October after the implementation of recently issued plans to improve the country's coal-fired power pricing mechanism.

    By Global Times | 2021/10/17 16:03:40
  • Hong Kong to build new logistics centers to boost trade and position as international aviation hub

    Hong Kong will build a new logistics center at Hong Kong airport and in Dongguan in Hong Kong's neighboring province Guangdong in South China, targeting high value third-party logistics services and facilitating intermediary trade, said the Finance Secretary of the Hong Kong Special Administration Region (HKSAR) on Friday.

    By Chi Jingyi in Guangzhou | 2021/10/16 3:19:32
  • Evergrande spillover risks 'controllable'

    China's central bank on Friday said the spillover effects of China Evergrande Group's liquidity crisis are controllable, the first public statement since the company was summoned by the regulator in August.

    By Global Times | 2021/10/16 0:00:57
  • President Xi urges efforts for common prosperity with buzzwords

    An article by Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on the concrete actions to promote common prosperity will be published.

    By Global Times | 2021/10/15 23:05:43
  • Trains transport much needed coal as cold front arrives amid energy shortage

    Over 22 million tons of coals have been shipped off from northern part of coal-producing Shanxi Province in North China by train in the first half of October, the China State Railway Group said on Friday.

    By Global Times | 2021/10/15 20:36:30
  • CNOOC rolls out China's first smart offshore platform with 30% efficiency boost

    China's largest offshore oil producer China National Offshore Oil Corp (CNOOC) on Friday announced that it will onstream China's first offshore oil platform equipped with smart technology, potentially boosting operation efficiency by 30 percent.

    By Global Times | 2021/10/15 18:19:46
  • Chip shortage in China may reduce car production by about 2 million till year end

    The shortage of chips may reduce car production by about 2 million units throughout the year in China, Chen Bin, Executive Vice President from China Machinery Industry Federation said on Friday.

    By Global Times | 2021/10/15 16:24:22
  • Xinjiang's agriculture moves from mechanization to intelligent amid a bumper cotton harvest season

    On a bright and clear Friday afternoon, a total of 14 cotton-picking machines were lining up at a 1,500-mu (100 hectares)cotton fields in Shaya county, Northwest China's Xinjiang Uygur Autonomous Region. With a brisk whistle and folk songs being played, the 14 pickers started roaring and moving forward at the same time - marking the start of a month-long bumper harvest season of Xinjiang's pure, white cotton that thousands of locals sing and dance to celebrate.

    By Li Xuanmin in Aksu | 2021/10/15 16:04:28
  • Rolls-Royce Motor Cars pulls ad amid PR fiasco in China

    The Chinese unit of British luxury automobile maker Rolls-Royce Motor Cars withdrew a video advertisement from its Twitter-like Sina Weibo social media platform after the advertisement caused a controversy among netizens, many claiming to be owners or potential buyers of Rolls-Royce limousines.

    By Global Times | 2021/10/15 15:14:21
  • Tencent cleanses problematic financial news WeChat accounts

    Securities regulatory authorities in Shanghai recently issued a notice targeting local securities traders to further strengthen supervision of securities practitioners' social media platforms, according to media reports.

    By Global Times | 2021/10/15 0:48:09
  • Chinese cargo industry sees full recovery from Jan to September

    China's cargo industry has witnessed a full recovery from January to September, official data showed on Thursday.

    By Global Times | 2021/10/14 23:53:07
  • Shenzhen makes strides in becoming socialist demonstration area

    Shenzhen, China's burgeoning technology hub and a leading demonstration zone, has pushed forward pilot reforms and achieved remarkable results over the past year in building the city into a socialist demonstration area, local officials said on Thursday.

    By Zhang Dan and Yin Yeping | 2021/10/14 21:51:06
  • Chinese state-owned firms join hands for tech breakthroughs in auto sector

    A dozen centrally-administered state-owned enterprises (SOEs) in various industries have set up a platform for making breakthroughs in auto technologies that are vulnerable to external risks, according to media reports on Thursday.

    By Global Times | 2021/10/14 21:08:40
  • China to set up innovation center for global sustainable transport: Xi

    Chinese President Xi Jinping announced on Thursday that China will establish a Global Innovation and Knowledge Center for Sustainable Transport and develop a green and digital Belt and Road Initiative at a faster pace, as part of the country's broad contributions to the development of global sustainable transport.

    By Zhang Hongpei | 2021/10/14 21:04:11
  • Kyle Bass' disastrous HK short a wake-up call for China bashers: experts

    Kyle Bass' disastrous Hong Kong short sale, backed by China bashers, is another example of how ill-intended short-selling operations against China are doomed to fail and a wake-up call for anti-China forces that seek to profit from stirring panic, Chinese experts said on Thursday.

    By Qi Xijia | 2021/10/14 20:53:40
  • China's inflation remains moderate with prudent, flexible monetary policy: PBC chief

    China's inflation remains moderate and the nation's prudent monetary policy will support high-quality economic development, the governor of the People's Bank of China (PBC), the central bank, said during a G20 meeting on Wednesday.

    By Global Times | 2021/10/14 19:08:40
  • Green BRI sets bright future for all life on Earth

    At the COP15 in Kunming, Southwest China's Yunnan Province, as the host country, China exemplified its commitment to environmental conservation, while pointing out the direction for the future global biodiversity governance, especially among countries participating in the Belt and Road Initiative (BRI).

    By GT staff reporters | 2021/10/14 19:07:50
  • China Eastern Airlines to schedule two new flights flying from Daxing airport

    China Eastern Airlines announced on Thursday that it schedule two new flights flying from Beijing Daxing International Airport.

    By Global Times | 2021/10/14 16:53:03
  • China establishes innovation platform targeting automotive digital transformation

    12 Chinese enterprises established an innovation platform for automotive digital transformation in Tianjin on Wednesday, under the guidance of State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. The platform will contribute to the breakthroughs in leading-edge technologies in auto industry, CCTV reported on Thursday.

    By Global Times | 2021/10/14 12:33:40
  • China's PPI hits record high, driven by surging bulk commodity prices

    China's producer price index (PPI) surged 10.7 percent year-on-year in September, a record high, driven by surging coal and other bulk commodity prices, the National Bureau of Statistics (NBS) announced on Thursday.

    By Xiong Xinyi | 2021/10/14 11:46:20
  • China's CPI up 0.7% in September

    China's consumer price index, the main gauge of inflation, rose 0.7 percent in September year-on-year, data from the National Bureau of Statistics showed on Thursday.

    By chinadaily.com.cn | 2021/10/14 9:37:01
  • Nearly 8,000 firms to attend offline Canton fair

    Around 8,000 firms will attend the 130th China Import and Export Fair, or Canton Fair, the organizers said on Wednesday.

    By Global Times | 2021/10/14 0:22:46
  • Energy imports

    A tanker carrying 155,000 cubic meters of LNG arrives at Zhoushan port, East China's Zhejiang Province on Wednesday. The facility has received 100 LNG ships since August 2018. Data from the General Administration of Customs showed Wednesday that LNG imports totaled 10.62 million tons in September, up 23 percent year-on-year. Photo: cnsphoto

    By Photo: cnsphoto | 2021/10/13 22:38:39
  • China, UK to strengthen cooperation on zero emission vehicles amid green energy push: UK ambassador

    China-UK cooperation on zero emission vehicles is expected to remain strong in the future as both nations are ramping up efforts to realize their commitment on zero emissions on a certain deadline, Caroline Wilson, UK Ambassador to China, said on Wednesday.

    By Chen Qingqing and Zhang Hongpei | 2021/10/13 22:29:46
  • Apple's production lines in China disrupted amid tight raw material supplies: insiders

    Several factories of Foxconn, Apple's major original equipment manufacturer (OEM) in the Chinese mainland, have abruptly suspended most recruiting efforts as production lines are disrupted by tight chip supplies and other raw materials, which could affect shipments of the new iPhone 13 series, industry insiders said on Wednesday.

    By Global Times | 2021/10/13 21:58:39
  • China-Australia trade sees sharp decline in Sept amid souring ties

    Trade between China and Australia saw a sharp month-on-month decline in September, according to data released by the General Administration of Customs (GAC) on Wednesday, underscoring rising pressure on bilateral trade from deteriorating bilateral relations.

    By Liu Yang | 2021/10/13 21:51:56
  • Huawei executive says 5GtoB development faster than expected

    There are 10,000 projects exploring business-to-business (B2B) applications of 5G (5GtoB) around the world, and more than half them are in China, a senior executive of Huawei said on Wednesday, calling for the industry to focus on XR, the B2B market and low-carbon development in the 5G era.

    By Global Times | 2021/10/13 21:39:37
  • China faces global supply chain disruptions, but remains resilient: experts

    As the IMF warned of “longer-than-expected” disruptions on global supply chains posed by the COVID-19 and cut down growth forecast for global economy, concerns are growing over the severeness of the worldwide problem and its potentially profound pressure on global trade and economic growth, with countries scrambling to find a fix.

    By Yeping and Zhang Hongpei | 2021/10/13 21:33:39
  • China's exports beat expectations in Sep despite rising challenges

    China's export machine kept roaring in September with growth pace during the month significantly exceeding expectations, despite a series of challenges, including the lingering fallout of the COVID-19 pandemic, power shortages and price hikes for bulk commodities.

    By GT Staff reporters | 2021/10/13 21:03:39
  • Chinese officials move to increase coal output amid shortage

    China is doing its best to increase coal output and supply amid shortages in some areas across the country, and has speeded up reviews of already-built outdoor coal mines, the nation's top economic planner said on Wednesday.

    By Global Times | 2021/10/13 19:45:36
  • Education-related shares surge as government encourages vocational training

    The shares of Chinese education stocks soared more than 5 percent on average at Wednesday's midday closing, as the State Council released a government circular to promote vocational education.

    By Global Times | 2021/10/13 15:43:39
  • China-US trade surges 35.4% to reach $543 billion in first nine months

    China-US trade volume grew 35.4 percent from January to September in dollar terms from last year, Chinese customs statistics revealed on Wednesday.

    By Global Times | 2021/10/13 12:53:40
  • China's electricity consumption up 6.8% in September: National Energy Administration

    In September, China's electricity consumption reached 694.7 billion kilowatt-hours, up 6.8 percent year-on-year, with a two-year average growth of 7.4 percent, despite the power cut across some provinces in the country, according to data released by National Energy Administration (NEA) on Wednesday.

    By Global Times | 2021/10/13 12:28:40
  • China's middle and western regions invest heavily on semiconductor sector

    The semiconductor industry in the middle and western regions of the country is experiencing rapid growth with imports of semiconductor manufacturing equipment grew 31.3 percent year-on-year, customs data showed on Wednesday.

    By Global Times | 2021/10/13 12:24:30
  • China's imports of bulk commodities drop 0.5% in first 9 months amid soaring prices

    China's import volume of bulk commodities declined by 0.5 percent to 2.43 billion tons in the first nine months of the year amid soaring prices, official data showed on Wednesday.

    By Global Times | 2021/10/13 11:05:36
  • China's foreign trade growth slows in Q3, facing more economic challenges

    China's exports and imports growth slowed in the third quarter amid economic challenges caused by lingering fallouts from the COVID-19 pandemic, electricity shortage as well as a surge in global bulk commodity prices, although the slowdown is still deemed reasonable, Chinese economists said.

    By Global Times | 2021/10/13 10:00:19
  • Surging EV sales do not have significant impact on China's power supply, chip supply eased: industry report

    The current electric vehicle (EV) consumption does not have a significant impact on the national power system, the China Passenger Car Association (CPCA) said on Tuesday, noting that chip supply eased slightly in September.

    By Global Times | 2021/10/13 0:10:32
  • China hopes to expand cooperation with Mongolia to guarantee stable coal supply

    Chinese Premier Li Keqiang on Tuesday said China hopes to expand coal trade and cooperation with Mongolia to achieve mutual benefits and win-win results, as part of the government's efforts to ensure the stability of the energy supply chain.

    By Global Times | 2021/10/12 23:49:48
  • Xi reveals major renewable energy projects at COP15

    Chinese President Xi Jinping on Tuesday revealed major wind power and photovoltaic bases in sandy areas, rocky areas and deserts, saying that the first phase of projects with an installed capacity of approximately 100 million kilowatts has recently started construction, according to the Xinhua News Agency.

    By GT staff reporters | 2021/10/12 22:49:26
  • China's maximum loan for university graduates lifted to 200,000 yuan: State Council

    The State Council on Tuesday issued an outline to further support China's university graduates and start-up businesses. The outline will raise the maximum loan used by university graduates to 200,000 yuan ($30,997).

    By Global Times | 2021/10/12 22:23:42
  • UM's development microcosm of institutional innovations, set to expedite Macao's economic diversification as grand plan kicks in

    In his second exclusive interview with the Global Times, weeks after a grand plan for building a Guangdong-Macao in-depth cooperation zone was unveiled, Song Yonghua, the rector of the University of Macau (UM), was thrilled at the prospect of UM – a poster child of the practice of “one country, two systems” – embracing yet another momentous upgrade.

    By Li Qiaoyi in Zhuhai | 2021/10/12 22:09:25
  • Huami unveils updated fashion smartwatch series amid rising sector growth

    Huami, a company that is known for making wearable devices, unveiled its fashion smartwatch Amazfit GTR 3 and GTS 3 series on Tuesday, a fresh move in the smart wearable market.

    By Global Times | 2021/10/12 22:08:40
  • IMF projects world economy to grow by 5.9% in 2021

    The International Monetary Fund (IMF), in its latest update of the World Economic Outlook, has projected the global economy to grow by 5.9 percent in 2021, down 0.1 percentage point from its July projection.

    By CGTN | 2021/10/12 21:46:36
  • Local govts in the mainland issue first offshore yuan bonds in HK, Macao

    The municipal government of Shenzhen and the provincial government of South China's Guangdong Province on Tuesday issued offshore yuan-denominated bonds in Hong Kong and Macao, the first such issuances by local governments on the mainland that will help boost the two special administrative regions' financial market and the yuan's offshore market.

    By Global Times | 2021/10/12 21:23:39
  • China liberalizes power pricing in bid to help address shortages

    China's National Development and Reform Commission (NDRC), the top economic planner, on Tuesday announced plans to improve the country's coal-fired power pricing mechanism with measures such as expanding the fluctuation range for power prices – a move that experts say will help balance China's power demand and supply and ease power shortages.

    By Xie Jun and Xiong Xinyi | 2021/10/12 21:18:40
  • Chinese Foreign Ministry urges Canada to be objective, fair in Huawei decision

    China's Foreign Ministry on Tuesday called on Canada to be objective and fair in its decision on whether allow Chinese telecom giant Huawei to participate in its domestic 5G development.

    By Global Times | 2021/10/12 20:43:40
  • Law enforcement agencies explore legal punishment for crypto activities

    China's top law enforcement agencies are investigating crypto trading exchanges and mining activities, and exploring specific ways to convict and sentence those involved in illegal activities, according to media reports on Tuesday, following the country's broad and strict ban on crypto transactions in September.

    By GT staff reporters | 2021/10/12 20:05:32
  • Financial sector should respond to increasing threat from biodiversity degradation: experts

    Chinese President Xi Jinping on Tuesday said China will take the lead by investing 1.5 billion yuan ($233 million) to establish the Kunming Biodiversity Fund, marking the latest effort by the world's second largest economy to address the increasing biodiversity degradation.

    By Zhang Hongpei | 2021/10/12 19:00:10
  • China's Yiwu busy with selling Squid Game masks amid power limit, 'orders booked until March 2022'

    “Squid Game masks,” the masks worn by the characters of the hit TV drama Squid Game, are becoming top selling products in Yiwu of East China's Zhejiang Province, one of the world's largest small commodities trade hubs. Several manufacturers in Yiwu told the Global Times that they are busy with making the masks to meet the soaring market demand, although their production capacity is restricted by the current power limit policy.

    By Huang Lanlan | 2021/10/12 18:47:57
  • Honor 50 series smartphones to be equipped with GMS after negotiation with Google

    Honor has confirmed that its Honor 50 series will be equipped with Google Mobile Services (GMS), the official twitter account of Honor said on Monday, after the company negotiated with Google in order to resume cooperation.

    By Global Times | 2021/10/12 17:38:40
  • Embattled Chinese actress Zhao Wei and her husband being sued again over contract of guaranty dispute

    Embattled Chinese actress Zhao Wei and her husband, businessman Huang Youlong, have been sued by investment institution China Minsheng Trust over a contract of guaranty dispute. The case will be heard in an open court session at the Beijing No. 4 Intermediate People's Court on November 8.

    By Global Times | 2021/10/12 17:38:40
  • Apple's app activity recording function sparks online discussion among Chinese netizens

    iPhone's latest function which records app activity put the topic about personal data protection under spotlight on Chinese Twitter-like social media Sina Weibo recently, after one Sina Weibo user found he was tracked by an app via the function of iOS 15.

    By Global Times | 2021/10/12 14:18:39
  • China deepens market-oriented reform for on-grid price of coal-fired power generation

    China's top economic planner issued a notice on Tuesday to further deepen the market-oriented reform for the on-grid price of coal-fired power generation amid the country's recent power crunch.

    By Global Times | 2021/10/12 13:35:51
  • Chinese firm gets contract to build liquefied carbon dioxide carrier ships

    Dalian Shipbuilding Industry, a subsidiary of China State Shipbuilding Corporation, has won a contract for the construction of two 7,500 cubic meter liquefied carbon dioxide carrier ships for Northern Lights, a Norwegian carbon capture and storage project.

    By Global Times | 2021/10/12 0:36:17
  • Former Evergrande chief economist clarifies why he left

    Ren Zeping, the former chief economist of Evergrande Group, offered an explanation on his WeChat account on Monday about why he left the company, saying his suggestions about reducing liabilities had not been accepted by the company leaders even though Evergrande's debt ratio had reached 86.25 percent.

    By Global Times | 2021/10/11 22:46:18
  • Basketball star from Xinjiang penalized after endorsement of Adidas sparked outrage

    Hu Mingxuan, a Chinese professional basketball player from Northwest China's Xinjiang Uygur Autonomous Region, has been reportedly penalized by his team after his endorsement of Adidas drew widespread criticism, as the brand was involved in groundless slander and attacks against Xinjiang cotton.

    By Global Times | 2021/10/11 21:37:18
  • China-US cargo rates drop from record highs in boost for bilateral trade

    After over a year of constant gains, skyrocketing freight rates on routes between China and the US have eased in the past month, in some cases by as much as half, according to industry insiders, who said that the declines will likely boost bilateral trade – especially China's exports to the US.

    By GT staff reporters | 2021/10/11 20:43:39
  • China announces $12.41m emergency funds for flood-hit provinces of Shanxi, Shaanxi

    China on Monday announced an emergency allocation of 80 million yuan ($12.41 million) in advance to help with flood control and relief efforts in North China's Shanxi and Shaanxi provinces, as the nation is getting into the full swing to minimize damage from unprecedented floods.

    By Global Times | 2021/10/11 20:03:39
  • Chinese firms face difficulties amid power cuts, but remedial measures underway

    Chinese businesses and factories in certain areas, including the country's main small commodity export hub in Yiwu, East China's Zhejiang Province, are facing difficulties in producing and delivering products to clients on time due to restrictions on electricity use amid a power shortage, local industry insiders told the Global Times on Monday.

    By Xie Jun and Qi Xijia | 2021/10/11 19:53:39
  • Ant Group raises registered capital by 47% to meet regulatory requirement

    Ant Group, Alibaba's financial arm, increased its registered capital by about 47 percent to 35 billion yuan ($5.43 billion), in a move intended to comply with regulatory requirements, while ramping up its room for growth.

    By Global Times | 2021/10/11 19:03:39
  • Chinese lithium giants seek overseas projects, but face uncertainties

    Chinese upstream lithium firms have been expanding their overseas footprint this year, especially in the Lithium Triangle – the lithium-rich region in South America – to meet surging demand for the key resource for making electric vehicle (EV) batteries.

    By Global Times | 2021/10/11 18:28:39
  • David Card, Joshua Angrist and Guido Imbens win Nobel Economics Prize

    The 2021 Nobel Prize in economic sciences has been awarded to David Card, Joshua D. Angrist and Guido W. Imbens for "their methodological contributions to the analysis of causal relationships," the Royal Swedish Academy of Sciences announced on Monday.

    By CGTN | 2021/10/11 18:20:20
  • Vegetables with Prada, luxurious branding at a Shanghai wet market go viral

    A wet market decorated with Prada branding in Shanghai had gone viral. During the recent National Day holidays, it attracted swathes of influencers dressing in high-fashion, taking photos, livestreaming and posing with produce. But it was found out that some people tossed the vegetables into the trash after photos and videos were taken.

    By Global Times | 2021/10/11 18:08:39
  • China expands BDS application, eyes integrated industrial ecosystem

    As China has continuously deepened the application of the self-developed BeiDou Navigation Satellite System (BDS), its technology has been increasingly integrated into core infrastructure across industries including finance and power generation, while multiple provinces and regions across the country plan to create an integrated BeiDou industrial ecosystem, according to media reports.

    By Global Times | 2021/10/11 11:27:12
  • China enhances protection of personal data and investigates tech firms in multiple sectors

    During the ongoing special inspection campaign targeting cyber security, China has inspected multiple tech firms including Didi, Huolala and Boss Zhipin, to further secure the country's security of data and prevent breaching personal data, the Xinhua News Agency reported on Sunday.

    By Global Times | 2021/10/10 23:53:31
  • New plan to bolster China's standard-setting ability in crucial technologies

    China aims to boost standard-setting in many crucial technological sectors, including high-speed rail, new-energy and smart vehicles and robots, as part of efforts to bolster innovation, opening-up and high-quality growth, according to a development plan jointly issued by the Central Committee of the Communist Party of China and the State Council, the cabinet, released on Sunday.

    By Global Times | 2021/10/10 21:18:39
  • China-US trade talks spark cautious optimism

    A phone call between senior Chinese and US trade officials on Saturday sparked cautious optimism among some analysts over the possibility of both sides moving to resolve certain trade issues, including tariffs, but they also cautioned that the US will unlikely change its overall hostile approach toward China.

    By Xie Jun | 2021/10/10 19:43:40
  • N.China's Inner Mongolia to hike coal output while protecting environment

    North China's Inner Mongolia Autonomous Region will take measures to increase coal production to ensure domestic energy supply amid recent power shortages, while strictly preventing any long-term damage to the environment, local officials said on Saturday.

    By Global Times | 2021/10/10 18:38:39
  • Chinese live streaming platform apologizes, removes ads from H&M after public outrage

    Chinese live streaming platform Douyu apologized on Sunday for advertising H&M, which has been the subject of a boycott by Chinese consumers due to the brand's ban on cotton produced in Northwest China's Xinjiang Uygur Autonomous Region, after the move sparked widespread criticism on social media.

    By Global Times | 2021/10/10 17:28:39
  • Li Auto denies sourcing chips from black market

    Chinese electric vehicle maker Li Auto denied reports that it has sourced a key auto chipset from the black market at prices 800 times higher than the normal levels, saying that it has sourced from regular channels to ensure supply amid the global shortage of auto semiconductors that has plagued the industry over recent months.

    By Zhang Hongpei | 2021/10/10 13:38:57
  • Huawei rising talent Peng Zhihui creates an iron-man inspired robotic arm

    A 16-minute video clip of a junior Huawei recruit creating “iron man's” robotic arm which incorporates Huawei's proprietary HarmonyOS went viral on Chinese social media platforms.

    By Global Times | 2021/10/10 10:33:50
  • China to adjust coal-fired electricity prices, encourage regions to boost production to ensure energy supply

    China will make flexible adjustments to allow market-based coal-fired electricity prices to be raised by up to 20 percent from the benchmark, part of its efforts aimed at guaranteeing winter heat and electricity supply while several coal-producing provinces such as North China's Inner Mongolia Autonomous Region have already moved to boost the production.

    By Global Times | 2021/10/9 17:31:53
  • China lodges representations with US on lifting additional tariffs, sanctions as senior officials hold 'pragmatic, candid' talks over trade

    Senior Chinese and US officials conducted 'candid, pragmatic and constructive' exchanges on trade, the Ministry of Commerce (MOC) announced on Saturday, and the Chinese side lodged representations on lifting additional tariffs and sanctions.

    By Wang Jiamei | 2021/10/9 11:07:01
  • Non-public capital to be barred from media-related business

    China's National Development and Reform Commission (NDRC) is soliciting public opinion for drafting the Market Access Negative List 2021, in which it clearly stipulates that non-public capital shall not engage in news gathering, editing and broadcasting, indicating a wider range of regulations targeting media-related services.

    By Global Times | 2021/10/9 0:12:36
  • China seeks fast growth in shale gas output amid green push

    The accumulated output at Chinese oil giant Sinopec's major shale gas field in Fuling, Southwest China's Chongqing reached 40 billion cubic meters on Friday, a new high.

    By Zhang Dan in Fuling | 2021/10/8 23:51:06
  • Coal imports from Australia not an ideal option for China due to rising costs: observers

    Australian coal is not an ideal option for China to import, market watchers and business insiders said on Friday, at a time when China is ramping up coal imports from countries such as Russia and Indonesia.

    By GT staff reporters | 2021/10/8 23:41:12
  • Transportation and tourism pick up during National Day holiday

    This year's National Day holidays witnessed 110 million passenger trips by train, with the number of passenger trips surpassing 10 million from September 28 to October 7, data from the China State Railway Group shows.

    By Global Times | 2021/10/8 21:15:59
  • Over 90% of crypto-related businesses shut down in China after ban

    More than 20 major firms involving crypto currency businesses, including trading exchange, crypto mining and crypto information platforms, have suspended services to Chinese mainland users and announced plans to exit from the Chinese market as of Thursday.

    By Global Times | 2021/10/8 17:39:26
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