Economy
A stamp-duty hike on stock transactions in the Hong Kong Special Administrative Region (HKSAR), the first such move in nearly three decades, is due to come into effect on Monday, five months after it was initially unveiled.
By GT staff reporters | 2021/8/1 19:58:39
MORE
  • Multiple regions in China curb power use amid summer peak demand

    A number of provinces and regions in China have told local industrial companies to use electricity in an 'orderly' way amid a supply gap and peak summer demand, with some companies having had to cut production to abide by government regulations.

    By Xie Jun and Tao Mingyang | 2021/8/1 19:43:40
  • China's aerospace technologies helped train Chinese Olympic medalists

    The swimming events of the Tokyo Olympic Games concluded on Sunday, with the Chinese swimming team collecting three gold medals, two silver medals and one bronze medal to finish fourth in the medal table in the pool. This record-setting performance sparked public interest on the "secret weapons" - aerospace technologies that backed the training of athletes.

    By Global Times | 2021/8/1 18:38:44
  • Brands eye safer, cheaper virtual idols after rash of human celebrity scandals

    A recent series of celebrity scandals, with the latest involving Canadian star rapper Kris Wu Yifan, has triggered the awareness of more brands to manage risks, with many looking to the booming virtual idol sector to increase their digital assets, industry insiders told the Global Times.

    By Zhang Hongpei | 2021/8/1 17:55:02
  • China urges communication after US tightens listing conditions

    Chinese and US securities regulators should step up communication on the supervision of US-listed Chinese companies in a spirit of mutual respect and win-win cooperation to seek solutions and foster policy predictability within an institutional environment, a spokesperson for the China Securities Regulatory Commission (CSRC) said on Sunday.

    By Global Times | 2021/8/1 17:16:36
  • Chinese start-up Neuracle tests emerging 'micro-invasive' brain-computer interface in pigs

    A Chinese start-up has started testing “micro invasive” brain-computer interface (BCI) in pigs, and it also plans to test the technology on monkeys in the next phase of experiment, making itself one of Chinese leaders in the test and application of the new emerging technology, the Global Times learned.

    By Li Xuanmin in Shanghai | 2021/8/1 15:33:40
  • Hong Yanghe nuclear power plant's new generators ready for commercial operation

    The fifth set of generators at Hong Yanghe nuclear power plant in Northeast China's Liaoning Province completed its 168-hour-trial on Saturday and is now ready for commercial operation, Hong Yanghe Nuclear Power announced on Sunday via its official WeChat account.

    By Global Times | 2021/8/1 15:18:39
  • China's digital yuan can be used to take Beijing subways now

    Beijing's subway system will add more services that are compatible with China's digital yuan from August 1 this year. Passengers now can use digital yuan to buy tickets, all-purpose cards and top up their all-purpose cards balance.

    By Global Times | 2021/8/1 12:48:40
  • China's central bank to accelerate oversight of crypto-currency trading

    People's Bank of China (PBC), the country's central bank, stated on Friday that the country's general economic settings will remain stable, while the bank will accelerate oversight and restrictions on cryptocurrency transaction.

    By Global Times | 2021/8/1 11:24:21
  • Beijing's universities, hospitals and state-owned enterprises will start relocation to Xiong'an in 2021: report

    Universities and hospitals affiliated with ministries, and centrally administered state-owned enterprises in Beijing will start relocation to Xiong'an New Area, North China's Hebei Province this year as part of removing the non-capital function, an official from the leading group for the coordinated development of the Beijing-Tianjin-Hebei region said in an interview with the Xinhua News Agency on Friday.

    By Global Times | 2021/7/31 20:31:11
  • Nanjing Delta outbreak expected to cut summer tourism revenue by over 50% across popular spots in China

    The recent Delta outbreak in Nanjing, East China's Jiangsu Province, will have a grim impact on the summer holiday tourism market across the country. According to industry players, the outbreak is expected to cut more than half of the tourism revenue across popular scenic spots.

    By Ma Jingjing | 2021/7/31 14:55:17
  • 40th anniversary of Gezhouba Dam starts operating: the first large hydropower hub on Yangtze River shines with "high reliability, long life and zero defects"

    The Gezhouba Dam, the world's largest run-of-river hydropower station and the first large-scale water control project on the main artery of the Yangtze River, celebrated the 40th anniversary of its commissioning for power generation on Friday, with producing nearly 600 billion kilowatt-hours of electricity.

    By Lin Xiaoyi in Yichang | 2021/7/31 1:54:40
  • World's first EPR nuclear reactor shuts down for examination

    Chinese nuclear giant China General Nuclear Power Corporation (CGN) said on Friday that it is shutting down the Taishan No.1 reactor, the world's first EPR third-generation technology reactor, to examine fuel rod damages and undertake maintenance.

    By Global Times | 2021/7/30 23:30:29
  • COVID-19 outbreak in Thailand to hit poultry consumption in China: traders

    The COVID-19 infections in Thai chicken processing plants have disrupted the export of chicken to China and led to a spike in prices, several Chinese importers told the Global Times on Friday after the largest chicken processing plant in Thailand was shut down due to the pandemic.

    By Qi Xijia | 2021/7/30 17:08:39
  • All scenic spots in Central China's tourist city Zhangjiajie closed from Friday

    All scenic spots in Zhangjiajie, a popular tourist destination in Central China's Hunan Province, have been closed on Friday morning to curb the virus spreading.

    By Global Times | 2021/7/30 15:29:32
  • Impact of fatal Henan floods on grain market is partial and short-term: China's agriculture ministry

    The impact of heavy rain and floods in Central China's Henan Province on the grain market in China is partial and short-term, Ministry of Agriculture and Rural Affairs said on Friday.

    By Global Times | 2021/7/30 12:43:13
  • Yuan expands in China-Russia trade amid US financial sanctions

    Amid Russia's de-dollarization efforts, the Chinese yuan's share in China-Russia bilateral trade has risen from 3.1 percent in 2014 to 17.5 percent in 2020, Chinese Ambassador to Russia Zhang Hanhui said in an interview with Russian media.

    By Global Times | 2021/7/30 12:37:54
  • US' nomination of Huawei case prosecutor to key China export post sends a tough signal: experts

    The future US policy toward China may become increasingly tough, after Biden Administration's Huawei case prosecutor was nominated to a key China export post, experts said.

    By Ni Hao | 2021/7/30 11:07:26
  • Pakistan could overtake India in trade with China in eight years: official

    Pakistan could overtake India in trade with China in just eight years, even though its trade volume with China was only one-fifth of India's in 2020, a Pakistan diplomat told the Global Times at a forum in Beijing on Thursday.

    By Global Times | 2021/7/29 22:48:11
  • Huawei launches P50 series amid US supply ban, but without 5G

    Huawei launched its long-anticipated P50 handset series during an online event on Thursday evening, pre-loaded with the self-developed HarmonyOS software platform. It's the Chinese firm's first mobile series to be offered without Android or Google services amid the US ban.

    By Global Times | 2021/7/29 21:23:41
  • Chinese people made more than 1.8 billion trips in 1H 2021, recovering to 61% of pre-epidemic levels: MOC

    Chinese people made 1.871 billion domestic trips in the first half of 2021, up 100.8 percent year-on-year, recovering to 60.9 percent in the same period in 2019, the pre-epidemic level, data from the Ministry of Culture and Tourism showed on Thursday.

    By Global Times | 2021/7/29 20:43:28
  • Living in China's technological miracle

    Editor's Note: On July 1, China declared it had reached its first centenary development goal – building a moderately prosperous society, or xiaokang, in all respects and is marching confidently toward the second centenary goal of building China into a great modern socialist nation. To decipher what that means in the context of where China is now and where it's heading, the Global Times is publishing a series of multimedia productions about achievements under the xiaokang goal in various aspects. This piece focuses on technological miracles that have changed people's lives.

    By Global Times | 2021/7/29 20:23:39
  • Electronics firms in Nanjing see limited impact from virus resurgence

    Although Nanjing in East China's Jiangsu Province is tense after being fully mobilized on a "wartime" footing to battle against imported coronavirus cases, the city -- home to many world-leading electronics companies -- is operating “basically normal”.

    By Global Times | 2021/7/29 20:03:39
  • Pudong to be global financial zone

    Shanghai's Pudong New Area aims to attract more than 200 global institutional investors and five new legal person investment institutions this year, a government official in Pudong disclosed, as the country tries to model the area into an essential node of global financial resource allocation -- part of a blueprint to develop Pudong as China's socialist modernization pioneer zone in the coming years.

    By Xie Jun and Li Xuanmin in Shanghai | 2021/7/29 19:53:39
  • China's stock market rallying after a three-day rout

    China's stock markets ended a losing streak on Thursday with the major indexes rising sharply, following an editorial by the Xinhua News Agency saying the country's recent regulatory changes targeting online platform economy and tutoring businesses are not part of a larger crackdown but rather a policy to foster healthy development of those industries.

    By Zhang Dan | 2021/7/29 19:28:39
  • China to accelerate domestic iron ore exploration to secure domestic supply: CISA

    China Iron and Steel Association (CISA) vowed on Thursday to accelerate development of domestic iron ore source and the construction of overseas iron mines invested by Chinese companies in order to secure the country's iron and steel supply during the 14th Five-Year Plan 2021-25.

    By Global Times | 2021/7/29 17:48:40
  • Stress test for Universal Studios Beijing nearing completion

    Testing for Universal Beijing Resort is moving full-speed for its grand opening, Song Yu chairman of Beijing Tourism Group, which jointly developed the theme park, told the media.

    By Global Times | 2021/7/29 16:48:40
  • Premier Li calls for more urgency for strengthening basis research

    China has reached a critical moment to highlight the need to strengthen basic research, Chinese Premier Li Keqiang said during a visit to the National Nature Science Foundation of China on Monday, urging to prioritize basic research amid uncertainties in global context.

    By Global Times | 2021/7/29 16:03:39
  • Major transportation system in flood-ravaged Central China's Henan back to normal: MOT

    Most part of transportation system in Central China's Henan Province has seen the resumption of normal services as of Thursday, after heavy downpours and floods drenched the province on July 20, said Ministry of Transportation (MOT) on Thursday.

    By Global Times | 2021/7/29 14:33:40
  • China leads the world in coronavirus vaccinations, vaccine exports

    China has led the world in the number of COVID-19 vaccinations, in vaccine exports and providing aid to other countries and regions, according to a report on COVID-19 vaccination released by the Boao Forum for Asia (BFA) on Thursday.

    By Global Times | 2021/7/29 14:30:15
  • China's ports staff vaccination rate surpasses 97%: Ministry of Transportation

    The capacity of China's ports saw increases over the first half of 2021, meeting China's growing foreign trade volume, the Ministry of Transportation (MOT) said on Thursday, noting the overall vaccination rate of frontline staff in ports has surpassed 97 percent.

    By Global Times | 2021/7/29 13:47:39
  • China's stocks pick up following Xinhua's editorial addressing market anxiety

    China's stock markets started the day positively on Thursday following an editorial by the Xinhua News Agency saying the recent regulatory policies targeting Chinese platform economy and tutoring firms are not part of a larger crackdown, but aiming to foster a healthy development of the industries.

    By Global Times | 2021/7/29 10:52:10
  • Foreign entrepreneurs gear up at the China International Import Export Commodity Bazaar in Shanghai

    It's a good opportunity to take advantage of China's huge consumer market through the new sales mode like the bazaar, which combines both online and offline sales, to "rush products showcased at the CIIE into the hands of best sellers," said James Xue, General Manager of Greenland Global Commodity Trading Hub Group.

    By Yu Xi | 2021/7/29 1:08:18
  • Regulatory policies targeting the platform economy and tutoring firms not a crackdown: Xinhua

    The Chinese economy remains steady, its reform and opening-up pledge continues unchanged and its capital markets are still intact, Xinhua said in a late-night editorial on Wednesday with the objective of restoring market calm following recent stock swings after tougher regulations made investors jittery.

    By Global Times | 2021/7/29 0:41:51
  • Douyin, Taobao, JD.com picked up by regulator for illicit activity

    China's State Administration for Market Regulation (SAMR) on Wednesday announced 10 typical cases involving illegal activities such as false advertising and unfair competition. It was the second such announcement this year, with several e-commerce giants including Alibaba's Taobao, JD.com and Douyin.

    By Global Times | 2021/7/28 22:28:39
  • Foreign-invested businesses grow fast in China in post-COVID era

    Foreign companies that have a footprint in China have published their quarterly financial results recently, and most of their businesses displayed growth.

    By GT staff reporters | 2021/7/28 22:23:39
  • Nanjing's outbreak hits recovery of nation's tourism sector

    A total of 153 COVID-19 cases were reported in Nanjing, East China's Jiangsu Province from July 20 to Tuesday, which cooled the region's and the nation's tourism industry, which was expected to thrive during the 2021 summer travel peak. One industry insider said that the revenue of his branch company in Nanjing was estimated to decline by nearly 50 percent.

    By Tao Mingyang | 2021/7/28 21:28:39
  • A-share weakness continues but signs of stabilization emerge

    Chinese mainland shares remained mostly lower on Wednesday, with the benchmark Shanghai index continuing a losing streak following a new outbreak of the coronavirus in the country. But there were already signs that the market was stabilizing.

    By Global Times | 2021/7/28 20:23:40
  • Henan back on footing after killing deluge

    Enterprises in Central China's Henan Province have resumed operations and manufacturing after days of torrential rains that caused flooding, with logistics and supply chains having largely returned to normal, except in areas that are still heavily affected by the disaster.

    By GT staff reporters | 2021/7/28 19:22:17
  • Third-child concept stocks surge amid China's strong push for more childbirths

    Third child-related stocks posted strong gains on Wednesday, standing out from the overall weakness in the Chinese stock market, amid a strong push for more childbirths in the world's second-largest economy.

    By Global Times | 2021/7/28 18:48:40
  • Double Olympic gold medalist Yang Qian's hairpins become best sellers in China

    Olympic double gold medalist, 21-year-old shooter Yang Qian's duck and carrot-shaped hairpins made a sensation on Chinese social media, quickly becoming best sellers across major e-commerce platforms in the country.

    By Global Times | 2021/7/28 17:58:39
  • Chip talent inadequacy exposed

    China's semiconductor market is the largest in the global semiconductor industry, accounting for about 35 percent of the global market share, much higher than the US, Europe and Japan. However, the development of China's semiconductor technology lags behind, exposing the urgent need of new talent to meet the growing market demand.

    By GT staff reporters | 2021/7/28 17:38:39
  • Chinese city announces cash handouts to encourage more childbirths

    Panzhihua city in Southwest China's Sichuan Province, with 1.23 million population, announced on Wednesday it plans to dole out money to couples giving birth to more than one child, the first-ever official incentive of its kind to spur more childbirths as part of broad-based efforts to address China's demographic decline in the longer term.

    By Global Times | 2021/7/28 17:09:06
  • Apps barred from indiscriminate collection of unnecessary personal information

    The Supreme People's Court (SPC) of China on Wednesday issued judicial rules to regulate the use of facial recognition, stipulating that no app can require users to provide unnecessary personal information. Specifically, the regulation requires apps to ask for consent from users when facial recognition information is involved.

    By Zhang Dan | 2021/7/28 13:36:13
  • Foreign industry-leading companies look forward to fifth CIIE in 2022, confident in China's economic outlook

    A total of 26 companies including global industry-leading firms such as L'Oréal, Bayer, Miji Design Germany, Ernst & Young and HSBC on Tuesday signed up to participate in the fifth China International Import Expo next year in Shanghai, showing strong confidence in China's economic growth in the future.

    By Yu Xi | 2021/7/27 22:13:39
  • Innovation key to accomplishing prosperity: minister

    The big strides China has made in its technological capability serve as a pivotal buttress of accomplishing xiaokang, China's minister of science and technology said on Tuesday, highlighting sci-tech-powered job creation and a boost to economic growth, especially in western China.

    By GT staff reporters | 2021/7/27 22:03:39
  • LatAm calls for stronger economic ties with China

    Representatives and ambassadors from Latin America are calling for more investment from China, and looking for a stronger and more friendly relationship that goes beyond economic ties, they said during a forum held in Beijing on Tuesday.

    By Global Times | 2021/7/27 21:58:39
  • Scenic spots across China introduce favorable ticket policy for tourists supporting domestic brands

    Multiple scenic spots across China have announced that tourists wearing domestic brands such as Erke will be free of charge for tickets, local media reported on Monday

    By Global Times | 2021/7/27 11:58:39
  • China's industrial profit growth maintains pace in H1, imbalances persist as SMEs recover slowly: NBS

    China's industrial production reported steady recovery in the first half of the year, with corporate operations recording continuous improvement and stable profits, latest data from the National Bureau of Statistics (NBS) showed on Tuesday.

    By Global Times | 2021/7/27 11:47:09
  • China's private tutoring institutions face delisting risks but may survive after transformation: analyst

    China's A share market listed private tutoring companies' shares continue their downwards trend at the open of trading on Tuesday. Shares of Xueda (Xiamen) Education Technology Group Co reached its daily drop limit. Shares of Doushen (Beijing) Education & Technology Inc and Offcn Education Technology Co were down by 11.33 percent and 4.31 percent respectively than the last trading day as of time of press.

    By Global Times | 2021/7/27 11:38:39
  • China finishes low-orbit broadband satellite, 5G network integration test

    China's first low-orbit broadband satellite and 5G network integration test was completed on Sunday, CCTV reported on Monday.

    By Global Times | 2021/7/26 22:18:39
  • Torrential Henan rains spark concern over grain production

    The unprecedented rain that hit many parts of Central China's Henan Province last week not only caused great losses in human lives and property, which led to the relocation of over 1.4 million people, but also sparked concerns over the potential impact on the nation's food supplies, as the province is one of China's leading grain producers.

    By GT staff reporters | 2021/7/26 20:28:40
  • Catering platforms are urged to improve wellbeing of deliverymen

    Seven government departments, including China's top market regulator, on Monday unveiled new guidelines urging online catering platforms to safeguard the rights and interests of delivery workers, as part of a broader push to rein in the unchecked expansion of platform businesses at the expense of employees' wellbeing.

    By GT staff reporters | 2021/7/26 20:13:40
  • Hainan works out 1st negative list for services investment

    China's Ministry of Commerce (MOFCOM) on Monday released the country's first negative list for cross-border trade in services in the Hainan Free Trade Port, a major measure to improve the administrative model for trade in services -- which will facilitate free trade in services and enhance the country's opening-up levels.

    By GT staff reporters | 2021/7/26 19:38:39
  • Eurasian train resumes as flood recedes in Zhengzhou

    Disrupted freight between Zhengzhou, the capital city of Central China's Henan Province, and Europe is gradually resuming, following unprecedented flooding and a week-long stretch of emergency controls.

    By GT staff reporters | 2021/7/26 19:13:47
  • TSMC head calls for 'free trade'; semiconductor localization and protectionism could harm global strategy: observers

    The president of Taiwan Semiconductor Manufacturing Co (TSMC) called on countries to adopt "free trade" at a time when many governments were pushing localization of the semiconductor industry, as he said that semiconductor localization could only be regional phenomenon, according to media reports.

    By Global Times | 2021/7/26 18:43:40
  • London urged to provide impartial business environment to Chinese companies

    The UK government should effectively provide Chinese companies with an open, fair and non-discriminatory business environment, Zhao Lijian, Chinese Foreign Ministry spokesperson, said on Monday, after media reports said that London aims to remove China General Nuclear (CGN) from the country's nuclear power projects.

    By Global Times | 2021/7/26 18:18:40
  • EU carbon border tax will hurt trade, jeopardize efforts to fight climate change: Chinese ministry

    Lowering trade tariffs and barriers and promoting liberalization of cross-border trade and investment are important measures to address climate change, and facilitate sustainable development, according to a spokesperson from the Ministry of Ecology and Environment (MEE) on Monday in response to the carbon border tax being considered by the EU.

    By Global Times | 2021/7/26 17:35:54
  • Chinese Oppo ranks 2nd slot in global smartphone market, beating Apple

    Chinese smartphone maker Oppo is ranking second in global smartphone market share in May, 2021, with a 16 percent share of unit sales, beating Apple by one percent, data showed.

    By Global Times | 2021/7/26 15:48:39
  • Lhasa-Nyingchi line records 106,000 passenger trips in first month of operation

    Lhasa-Nyingchirailway recorded 106,000 visits, with an average dailypatronage of 3,500 tripsover its first month of operation, according to a statement sent by the ChinaRailway to the Global Times on Monday.

    By Global Times | 2021/7/26 15:33:40
  • CIIE marks 100-day countdown, exhibitors seek greater opportunities

    The fourth China International Import Expo's (CIIE) organizers marked the 100-day countdown on Monday as a pre-expo supply-demand matchmaking meeting for exhibitors and buyers from the sectors of food, agriculture, medical equipment and healthcare was held on the same day to provide more opportunities.

    By Global Times | 2021/7/26 13:18:40
  • Service platforms cope with the strongest typhoon In-Fa in 2021 in East China

    Multiple online service platforms including travel booking platforms, food delivery platforms, and grocery vendors have implemented measures in response after Typhoon In-Fa lands in East China, which is the country's strongest typhoon so far in 2021, according to media reports.

    By Global Times | 2021/7/26 11:38:40
  • China's private education shares drop due to country's tightened regulation

    Several HKEX listed stocks in education sector including New Oriental, China New Higher Education Group and Scholar Education Group all saw their share price fall at the open of the market on Monday morning, due to Chinese market regulator's restricting measurements toward the country's private education industry.

    By Global Times | 2021/7/26 11:38:40
  • Steel inventory declines amid nation's efforts to cut carbon emissions

    China's steel inventories have declined for two consecutive weeks, data showed, as the country is implementing measures to achieve the goal of reducing crude steel production during the off-season.

    By Global Times | 2021/7/25 21:43:55
  • NEV companies hot among Chinese job hunters for higher pay

    The new-energy vehicle (NEV) industry has become a heated sector for Chinese job hunters, with new vacancies more than doubling year-on-year in the first quarter, as NEV sales in the country expanded rapidly after the coronavirus crisis.

    By Global Times | 2021/7/25 21:33:39
  • Yuan becomes No.3 global currency: report

    The internationalization of Chinese yuan accelerated in 2020 despite the ravaging global pandemic and the US government's containment of China's growth. Experts predict there exists great room for the currency's further internationalization, calling for convenient flows of the yuan and expansion of cross border investment avenues.

    By GT staff reporters | 2021/7/25 20:58:39
  • China to release top-level design plan on reaching carbon neutrality

    China is to release a top-level design plan to reach its goal of carbon neutrality, the nation's special envoy for climate change affairs said on Saturday.

    By Global Times | 2021/7/25 20:48:40
  • China bars private education firms from raising money through IPOs, aims to shift industry focus from profit to teaching

    China's vast private education sector received a death blow as the country introduced sweeping measures, including barring curriculum-based tutoring institutions from raising money through stock market listings, in a bid to correct disorderly competition in the industry and ease the burden on Chinese students and their families.

    By Zhang Dan and Tao Mingyang | 2021/7/25 20:23:39
  • Flood-stricken Zhengzhou section of China-Europe freight train resumes operation

    The Zhengzhou section of the China-Europe freight train has officially resumed operation on Sunday, after rail freight operations between Zhengzhou, capital city of Central China's Henan Province and Europe, was suspended on July 20 due to an unprecedented deluge, local authority announced on Sunday.

    By Global Times | 2021/7/25 17:28:39
  • China to release top-level design plan on carbon neutralization

    China is to release a top-level design plan to reach the carbon-neutralization goal, China's special envoy for climate change affairs said on Saturday.

    By Global Times | 2021/7/25 16:53:39
  • Coal rushed by train to flood-ravaged Henan Province to ensure electricity supply

    China's railway system plans to deliver 60 train loads of coal to Central China's Henan Province per day as the province reported urgent shortages of the fuel that's used to generate electricity, after major transport routes were blocked by an unprecedented deluge, local media reported.

    By Global Times | 2021/7/25 10:21:59
  • IPO ban can deal fatal blow to Chinese education companies: expert

    China bans academic training agencies from raising capital through IPOs

    By Global Times | 2021/7/24 19:21:54
  • China mulls revised restrictions on tech imports

    China's Ministry of Commerce (MOFCOM) issued a notice on Friday to solicit opinions on the revision of prohibited and restricted technology imports, in a further effort to create a favorable environment for the free cross-border flow of technology.

    By Global Times | 2021/7/24 1:37:57
  • Carmakers in Zhengzhou resume production after flooding

    Car companies in Zhengzhou, capital of Central China's Henan Province, gradually resumed production on Friday after electricity supply and internet connections were restored following heavy rainfall and flooding in the city on Tuesday. A full recovery can be expected as logistical hurdles ease in the third quarter.

    By Global Times | 2021/7/24 0:28:35
  • Zhengzhou factories resume operations, but shipping issues may delay iPhone 13 delivery

    Factories in Zhengzhou, the capital of Central China's Henan Province, have gradually resumed operations as the impact of floods - caused by the city's heaviest downpour in 60 years - eased. Zhengzhou, home to the world's largest iPhone factory and one of China's largest auto manufacturing bases, is gradually shaking off disruptions as electricity and internet connection returned. Yet logistics continue to pose a threat to shipments, potentially affecting supply chains at home and abroad.

    By GT staff reporters | 2021/7/23 20:43:39
  • Foxconn's Zhengzhou factories partially resume production, shipping issues could delay delivery of iPhone 13

    Foxconn's major factories in Zhengzhou, Central China's Henan Province, have partially resumed production as the impact of floods gradually eased. But production at one factory that mainly manufactures USB cables – which was hit the hardest – was still grounded to a halt, the Global Times learned Friday.

    By GT staff reporters | 2021/7/23 17:28:40
  • China publishes guideline to help central regions set up industrial cluster bases

    China published a guideline on Thursday night that directs central regions to develop regional industrial cluster bases, with a special focus on high technologies such as new materials, new-energy vehicles and electronics information.

    By Global Times | 2021/7/23 0:11:45
  • US should correct its own 'economic coercion' rather than blaming China: FM

    The Chinese Foreign Ministry has dismissed comments by US Trade Representative Katherine Tai, who said that the US would cooperate with Australia to deal with China's “economic coercion.”

    By Global Times | 2021/7/22 22:29:58
  • Chinese firms' high-tech devices help rescue efforts in Henan floods

    Chinese technology companies are supporting flood rescue efforts in Central China's Henan Province, with drones, unmanned boats, remote water supply systems and cloud-logging services functioning as a much-needed, life-saving force to minimize the damage of the deadly natural disaster.

    By GT staff reporters | 2021/7/22 21:21:30
  • Australian wine unable to use HK as 'back-door entry' to Chinese mainland: insider

    Although Australian wine shipments to Hong Kong jumped 111 percent in the 12 months that ended on June 30, industry insiders said that Australian wine is still losing its biggest market, the Chinese mainland, due to anti-dumping tariffs and rising competition from French wine.

    By Global Times | 2021/7/22 21:11:09
  • Chinese official warns of slower trade growth in H2, vows 'targeted' measures

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

    By Xie Jun | 2021/7/22 21:03:40
  • Chinese insurers move swiftly to handle rising claims after floods in Henan

    After unprecedented downpours struck Central China's Henan Province, leaving cars upended, houses destroyed and people stranded, Chinese insurers responded swiftly with urgent measures to handle claims from policyholders, with more than 65,000 claims arriving by Thursday.

    By Ma Jingjing | 2021/7/22 20:58:36
  • China to build Pudong into global financial hub on par with London, Manhattan

    The Pudong New Area of Shanghai will rival the city of London and Manhattan in the financial sector as China moves to model the area into a pioneer zone for socialist modernization in the coming years, officials said on Thursday during a press conference in Shanghai.

    By Qi Xijia | 2021/7/22 20:53:39
  • China's economic miracle in numbers

    On July 1, China declared that it had reached its first centenary goal – building a moderately prosperous society, or xiaokang, in all respects, and it is marching confidently toward the second centenary goal of building China into a great modern socialist country. To decipher what that means in the context of where China is and where it is heading, the Global Times is publishing a series of multimedia products about various aspects of the achievements under the xiaokang goal. This is an infographic focusing on figures and indexes that underscore China's economic miracle

    By Global Times | 2021/7/22 20:35:39
  • Chinese free trade zones attract $15.6 bln overseas investment in H1; foreign firms exceed 1.06 mln in China

    China's 21 free trade experimental zones have received 100.88 billion yuan ($15.6 billion) in overseas investment in the first half of 2021, accounting for nearly 17 percent of all foreign capital that flowed into China, according to data released by the Ministry of Commerce (MOFCOM) on Thursday.

    By Global Times | 2021/7/22 19:43:39
  • Dongfeng Peugeot apologizes after being accused for faking flood aid effort in C. China's Henan

    Dongfeng Peugeot issued an official apology on its Sina Weibo account on Wednesday after being accused by Chinese netizens for faking flood aid effort in Zhengzhou, Central China's Henan Province, which has reported 33 deaths in the unprecedented rainfall.

    By Global Times | 2021/7/22 16:33:39
  • The world's first 14-valent HPV vaccine designed by Beijing enterprise enters clinical trials

    SinoCellTech, a Beijing-based biotech company, has rolled out the world's first 14-valent human papillomavirus (HPV) vaccine which has entered clinical trials, media reported on Thursday.

    By Global Times | 2021/7/22 15:48:19
  • China's high-tech companies aid Henan flood rescues with drones and satellites

    China's high-tech companies had deployed drones to assist with rescue work in Central China's Henan Province after regions of the province experienced unprecedented heavy rainfall flooding which has caused 25 deaths so far.

    By Global Times | 2021/7/22 11:50:35
  • Zhengzhou flood brings business to a halt

    Record rainfall and severe floods in Zhengzhou in Central China's Henan Province have caused disruptions to the operations of many major multinational corporations including Foxconn, Nissan, IKEA and FedEx.

    By GT Staff reporters | 2021/7/21 21:18:39
  • Chinese firm churns out masks for Japan ahead of the Olympics

    From face masks to vaccines, Chinese medical suppliers have been delivering products to facilitate the Tokyo 2020 Olympic Games, which is scheduled to open on Friday despite challenges posed by the COVID-19.

    By GT staff reporters | 2021/7/21 21:13:39
  • Is China 'hoarding' US chip equipment amid a global shortage?

    China has substantially increased imports of semiconductor equipment from the US over the past few months, a recent industry analysis showed, sparking speculations that China was "hoarding" the crucial equipment amid the US' crackdown and a global shortage.

    By GT staff reporters | 2021/7/21 20:38:39
  • Chinese officials, experts warn Lithuania against provocation, defend China-CEEC ties

    Chinese officials and experts on Wednesday warned Lithuania, the small Baltic country, against crossing China's red line regarding the island of Taiwan and defended growing ties between China and the Central and Eastern European Countries (CEECs).

    By GT staff reporters | 2021/7/21 20:23:40
  • Space travel price expected to fall within $30,000-$50,000 range: founder of Galactic Energy

    With more advanced technology, it is expected that the ticket price to visit the space will fall within the range from $30,000 to $50,000, said a senior executive in China's private space sector.

    By Global Times | 2021/7/21 19:37:35
  • Agricultural production and transportation in C. China Henan to be 'temporarily affected' by record rainfall

    The agricultural production and transportation in Central China's Henan Province will only be temporarily affected by the extreme torrential rain and subsequent flooding, analysts said on Wednesday.

    By Global Times | 2021/7/21 18:08:42
  • Foxconn plants in Zhengzhou disrupted by floods, but no 'direct impact' on factory

    The record rainfall in Zhengzhou, Central China's Henan Province that has caused widespread flooding in the major manufacturing hub, has disrupted certain operations of major iPhone supplier Foxconn's plants in the city as workers were blocked from going to work, several employees told the Global Times on Wednesday

    By Qi Xijia | 2021/7/21 18:03:40
  • Geely owned Volvo Cars buy out its parent company's stake in China

    Volvo Cars, a sister company of Chinese car maker Geely Holding, to take full ownership of its car manufacturing plants and sales operations in China by acquiring Geely Holding's stake, in order to maintain its influence in its largest market, the company told Global Times on Wednesday.

    By Global Times | 2021/7/21 17:38:39
  • AI upstart Cloudwalk Technology seeks an IPO at Shanghai's STAR market

    Cloudwalk Technology, known as one of China' four artificial intelligent (AI) “dragons”, is set to become China's first AI unicorn to go public at home, a milestone for China's burgeoning AI industry amid heated technology race between the world's two largest economies, rising public concern about data security and US government' increasingly hostile attitude toward Chinese companies listing in the US.

    By Li Xuanmin | 2021/7/21 17:33:39
  • Rail, air transport linking Central China's Henan severely impacted by heaviest rainfall in 60 years

    Multiple rail routes and highways through Central China's Henan Province have been cut off due to extreme weather which has caused 12 deaths, while large number of air flights have been canceled on Wednesday as record rainfall across the province swept through cities and villages.

    By Global Times | 2021/7/21 13:00:50
  • Update: Internet firms rush to offer donations totaling $145 million to help Henan flood victims

    The torrential rainstorm and subsequent flooding in Central China's Henan Province prompted a flurry of Chinese internet giants to give a helping hand to local residents, including donating money, providing essential items to combat the natural disaster that has forced main roads to close and flights canceled in over a dozen cities in the province.

    By Global Times | 2021/7/21 10:48:27
  • Amazon ban against top Chinese sellers sends warning

    An intense crackdown that's been in progress for months against Chinese companies, including some big names, by US-based e-commerce platform Amazon has sent a warning to China's e-commerce businesses that they not only need to comply with the rules but also speed up development of leading cross-border e-commerce platforms of global scale, industry analysts said.

    By Qi Xijia | 2021/7/20 20:48:39
  • 'Made in China' ubiquitous at Tokyo Games

    The upcoming Tokyo Olympic Games, which is scheduled to open on Friday, is not just a major sports event for athletes but also an important stage for countries to show their strength in various aspects.

    By Li Xuanmin and Tao Mingyang | 2021/7/20 20:23:39
MORE