Economy
China's Ministry of Commerce (MOFCOM) has launched a national time-honored brand festival in an effort to further boost consumption potential in the world's second largest economy on Wednesday.
By Global Times | 2021/5/13 1:45:40
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  • Trade between China-central/eastern Europe on the rise despite pandemic

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

    By Xie Jun | 2021/5/13 0:19:12
  • China eyes strict rules for data collection by car firms to protect privacy

    China's cyberspace administration on Wednesday issued strict draft rules on data collection by car companies, stipulating that operators need to gain permission from users before collecting personal information, and the data should be also be stored safely so as to allow car owners to access it in a convenient manner.

    By Global Times | 2021/5/12 21:38:40
  • New Zealand stands to gain from Australia's loss in China

    New Zealand has been charting “a very positive and clear path” in relation to China, in stark contrast to Australia's hostile actions, which could result in major gains for New Zealand products and services in the Chinese market as Australia stands to lose, according to Chinese and New Zealand trade representatives.

    By Li Xuanmin and Qi Xijia | 2021/5/12 20:53:39
  • China's bank lending slows in April amid strong economic rebound

    Growth in China's broad M2 money supply moderated in April, official data showed on Wednesday, as the economy's strong post-virus rebound remained intact.

    By Global Times | 2021/5/12 18:48:39
  • The production and sales of China's new-energy vehicles hit a new high in April's monthly record: CAAM

    The production and sales of China's new-energy vehicles continued to refresh the month's record, with a total of 216,000 and 206,000 vehicles being produced and sold in April respectively, according to a report released by China Association of Automobile Manufacturers (CAAM) on Wednesday.

    By Global Times | 2021/5/12 18:03:40
  • China's soybean planting area projected to drop by 5.4% in 2021-22

    China's soybean planting area in the year from 2021 to 2022 is estimated to reach 9,347 thousand hectares, a decrease of 5.4 percent compared with the previous year, according to an analysis released by the Ministry of Agriculture and Rural Affairs on Wednesday.

    By Global Times | 2021/5/12 17:53:40
  • China's demographic dividend persists to underpin economy despite shrinking workforce

    While Western media has been hyping how China's growing gray population will bring a looming economic crisis to the Communist Party of China, the fact that China's population dividend will pick up and sustain its rosy economic expansion may disappoint them.

    By Li Xuanmin and Qi Xijia | 2021/5/11 21:53:40
  • Businesses strongly oppose 'decoupling': says AmCham

    Despite the impact of the coronavirus pandemic and lingering tensions between China and the US, nearly 60 percent of US-based enterprises which are members of AmCham China, aim to increase their investment in China, and more than 85 percent of the US companies said that they are not considering moving out of China, a white paper issued by the chamber said on Tuesday.

    By Wang Bozun | 2021/5/11 19:46:01
  • Indian middlemen's price-gouging of China-made oxygen concentrators is blasted

    Chinese oxygen concentrator suppliers are upset and saddened by price-gouging of anti-virus devices such as theirs in the Indian market, calling the move is a deviation from their original humanitarian intention.

    By GT staff reporters | 2021/5/11 19:18:40
  • Fruit trade boom between China and BRI countries, supporting local economy

    Cambodia delivered its first batch of fresh mango exports directly to China on Friday, as the agricultural cooperation between the two countries has increased year by year. This was one of the latest examples of fruit exports from countries under the Belt and Road Initiative (BRI) to China, indicating the fruit trade is now effective and has become a driver of trade growth.

    By GT staff reporters | 2021/5/11 18:33:40
  • China to have a bumper harvest of wheat in 2021

    With sufficient inventory, adequate reserves and abundant supply, China's wheat reserves can meet consumer demand for more than one year, an analyst with the National Food and Strategic Reserves Administration said on Tuesday.

    By Global Times | 2021/5/11 18:23:39
  • Taiwan-based Gigabyte apologizes for 'mocking' quality of mainland-made products

    A website introduction by Taiwan island-based computer hardware manufacturer Gigabyte, mocking the quality of Chinese mainland-made products, drew criticism of mainland netizens on Sina Weibo on Tuesday.

    By Global Times | 2021/5/11 15:08:39
  • China's labor force remains young and dynamic: National Statistics Bureau

    China's advantage in domestic market still exists and the labor resources are still abundant. With the continuous improvement of population structure, new advantages will gradually appear, said National Bureau of Statistics on a declining workforce population seen in China's latest population census.

    By Global Times | 2021/5/11 12:28:39
  • Two futures exchanges curb bulk commodity prices amid price fluctuation

    The Shanghai Futures Exchange and the Dalian Commodity Exchange both issued statements on Monday targeting bulk commodity prices such as iron ore price which have hit record highs recently, aiming to curb prices of such commodities to stabilize the market.

    By Global Times | 2021/5/11 12:13:39
  • China's CPI remains steady in April, supported by ample pork supply

    China's overall consumer inflation maintained a steady trend in April, with a 0.9 percent gain year-on-year, while producer prices continued on an upward trend due to high international bulk commodity prices, official data showed on Tuesday.

    By Global Times | 2021/5/11 9:39:06
  • Local brands, indigenous tech rise amid West suppression

    Along with an overbearing clampdown on neck-choke technologies that has Chinese tech giants such as Huawei besieged by various blockages comes enthusiasm over indigenous breakthroughs in areas ranging from chipsets to domestic brand strength.

    By GT staff reporters | 2021/5/10 23:08:39
  • Local govts issue $264.5 billion bonds to support economy

    China's local governments issued 1.7 trillion yuan ($264.5 billion) worth of bonds as of Sunday, which analysts said reflects the continuity of the proactive fiscal policy to support post-pandemic economic recovery.

    By Ma Jingjing | 2021/5/10 21:23:40
  • Iron ore price soars as China-Australia trade uncertainties linger

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

    By Xie Jun and Yin Yeping | 2021/5/10 20:23:39
  • New super hybrid rice variant delivers record high yield in South China

    A new super hybrid rice variant, named as Chaoyouqianhao, recorded a yield of more than one ton per mu (0.165 acres) in South China's Hainan Province, local media reported.

    By Global Times | 2021/5/10 17:28:40
  • Chinese regulator orders 84 apps to rectify illicit collection of personal data

    A total of 84 apps including 36 safety management apps including Tencent Mobile Manager and Baidu Mobile Security, and 48 online loan apps were named by Cyberspace Administration of China (CAC) on Monday for illegally collecting and using personal information.

    By Global Times | 2021/5/10 14:48:39
  • China fines after-school training institutions Zybang and Yuanfudao each at 2.5 million yuan

    Chinese regulators have fined Alibaba-backed Zybang and Tencent-invested Yuanfudao, two after-school training institutions at maximum fine of each at top grid punishment of2.5 million yuan ($0.389,9000million) each in the country's most recent freshest efforts to standardize the e-commerce sector and crack down upon after-school training chaos that have already aroused protests among many Chinese parents.

    By Global Times | 2021/5/10 12:28:39
  • Alipay becomes available in China's digital yuan wallet, 7th commercial bank participating in digital currency's trial run

    MYbank, backed by Alibaba's Ant Group, has been officially included and activated in the digital yuan wallet in recent days, the Global Times learned, making it the 7th commercial bank that participates in the trial run of Chinese central bank-backed digital currency.

    By GT staff reporters | 2021/5/10 11:33:28
  • India's trade barrier against Chinese Wi-Fi devices to hurt local economy: experts

    Imports of Chinese finished electronic products containing Wi-Fi modules have been delayed for months in India, leaving some companies with no way out as the South Asian nation lacks the ability to make these devices and the coronavirus onslaught has disrupted production, an Chinese industry observer familiar with the situation said on Sunday.

    By Zhang Dan | 2021/5/9 22:01:36
  • Visit to Wufang Village near Shanghai gives clues about China's rural revitalization

    Recently I paid a visit to Wufang Village, a tiny village in suburban Shanghai that has gained some fame as a weekend getaway with its beautiful peach orchards, renovated houses, and an influx of young people working and living there.

    By Chu Daye in Shanghai | 2021/5/9 20:45:22
  • How weak US jobs data could hurt emerging markets, but boost China's exports

    Weak US jobs data for April, which fell far below expectations, have sparked concerns among some economists that the US may pursue more radical stimulus measures that could pose risks for emerging markets as capital may flow into the US from struggling economies such as India.

    By Wang Bozun | 2021/5/9 20:23:39
  • US crippling its financial dominance by elbowing out Chinese telcos: experts

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

    By Xie Jun | 2021/5/9 19:34:49
  • China to lift HK, Shanghai's roles as global financial hubs in broad plan for capital market

    China's chief securities regulator on Saturday set the tone for the prospects of the development of China's capital market, with an emphasis on promoting the roles of Hong Kong and Shanghai as international financial centers by 2035.

    By Global Times | 2021/5/9 19:13:39
  • Tesla crashes in S.China at 158km/h, sparks fresh worry over brake issues

    A Tesla vehicle crashed into a truck on Friday in Shaoguan, South China's Guangdong Province, at a high speed of 158 kilometers per hour, leading to the immediate death of the driver, according to media reports on Sunday, sparking fresh concerns over suspected brake issues in Tesla cars.

    By Global Times | 2021/5/9 19:03:39
  • China's regulated open-end funds surpass that of Japan, Australia to top Asia-Pacific

    The scale of China's regulated open-end funds topped the Asia-Pacific region with $2.66 trillion in 2020, surpassing that of Japan and Australia, according to data released by the Investment Company Institute (ICI).

    By Global Times | 2021/5/9 19:02:56
  • It is baseless to allege China planting spies in Alibaba: China's Embassy in Belgium

    The allegations against Alibaba by some Belgium politicians and media outlets which linked the company to China's intelligence services are “baseless” which is aimed to promote “China threat”, China's embassy in Belgium said in a statement.

    By Global Times | 2021/5/9 11:53:39
  • Australian exporters hope growing rift with China will ease, eye opportunities in Chinese market

    Despite downward spiraling bilateral relations between China and Australia that have caused many uncertainties for Australian exporters, they hold hopes that the growing rift will be eased as their commitment to the world's second largest economy remains.

    By Zhang Hongpei and Zhao Juecheng in Haikou | 2021/5/8 20:48:58
  • International luxury houses pin hope on Chinese consumption market

    From premium watches and tiny but exquisite jewelry, to high-end cosmetics, luxury cars and yachts, a slew of leading international luxury brands are vying for attention during the ongoing China International Consumer Products Expo (CICPE), which runs from Friday to Monday in South China's Hainan Province, as they are pinning hopes on China, the only economy that achieved positive growth last year after emerging from the virus-trapped mire.

    By Zhang Hongpei in Haikou | 2021/5/7 23:03:39
  • Australian imports to China slow down as decoupling accelerates

    China's imports from Australia rose by 13 percent to $14.86 billion in April from the previous month, slowing from the 28 percent monthly import growth rate in March, a trend which analysts said mirrors an accelerating trade decoupling between the two countries as China pushes diversification efforts amid icy bilateral relations.

    By GT staff reporters | 2021/5/7 22:53:39
  • 'Rising star' Hainan to be world's biggest duty-free market in 2 years: KPMG joint report

    Hainan, the tropical resort destination known as China's Hawaii, is on track to become the biggest duty-free market in the world in the next two years, a report released on Friday showed, illustrating how China's policy of building a world-class shopping haven has converted overseas shopping to domestic consumption, strengthening the plan of building Hainan into a free trade port on par with Dubai and Singapore.

    By GT staff reporters | 2021/5/7 22:33:39
  • China's April imports from Australia rise 49.3%, but a trade decoupling is imminent amid icy relations

    China's imports from Australia rose by 49.3 percent to $14.865 billion in April, accelerating from the 20.9-percent import growth rate recorded in the first three months as the price of iron ore – a major item China buys in bulk from Australia – surged to a record high. But as China pushes diversification efforts, analysts said a trade decoupling between the two countries is imminent amid icy bilateral relations.

    By Li Xuanmin and Yin Yeping | 2021/5/7 16:33:39
  • China-US trade rises 50% Jan-Apr, highlighting inseparable bilateral economic ties

    Trade between China and the US continued an upward trend in the past four months, official data showed, highlighting inseparable economic relations between the two countries, although a political chill still exists.

    By Global Times | 2021/5/7 15:37:54
  • China's iron ore import price jumps to record high, curbing measures expected

    China's iron ore imports remained strong from January to April with import volumes increasing by 6.7 percent, bolstered by resilient demand after the resumption of production, pushing up the price significantly (58.8 percent) to 1,009.7 yuan ($156.3) per ton, remaining at a high level. Meanwhile, the average price for imported iron ore in April alone reached $164.4, the highest since November 2011, data with Beijing Lange Steel Information Research Center shows.

    By Global Times | 2021/5/7 14:30:14
  • China's trade volume increases 37% y-o-y in April, marking 11 consecutive months of positive growth

    China's trade volume grew 37 percent year-on-year to $485 billion in April, with exports and imports rising 32.3 percent and 43.1 percent, marking the 11th consecutive month that the country's foreign trade achieved positive growth. The data also shows that China's trade is picking up a brisk growth momentum that is increasingly driven by demand at home in addition to booming overseas orders.

    By Global Times | 2021/5/7 13:39:10
  • China's imports, exports surge in April, continuing strong growth momentum

    China's trade volume grew 26.6% y-o-y to 3.15 trillion yuan ($486 billion) in April, with exports and imports rising 22.2% and 32.2%, respectively: customs data

    By Global Times | 2021/5/7 11:16:05
  • Consumption in China to inject confidence in post-pandemic era

    On the first working day after the May Day holidays, which generated travel-related spending with year-on-year growth of 138.1 percent to 113.23 billion yuan ($17.5 billion), consumers in the world's second largest economy now embraced another shopping feast – the first China International Consumer Products Expo (CICPE), which is scheduled in Haikou, capital of South China's Hainan Province from May 7 to 10.

    By Zhang Hongpei in Haikou | 2021/5/6 22:09:28
  • China to strictly manage steel smelting in effort to achieve carbon neutrality goal

    The National Development and Reform Commission (NDRC) released an official report on Thursday targeting steel smelting projects in an effort to push the steel industry to achieve carbon neutrality and promote green, low-carbon and high-quality development.

    By Global Times | 2021/5/6 21:34:15
  • Medical suppliers in China worked overtime to ramp up output for India

    Chinese experts suggested the Indian government should rectify its inflated import-approval process to facilitate Indian companies' imports of vital medical equipment produced by Chinese workers doing overtime that has been stranded at Indian airports.

    By GT staff reporters | 2021/5/6 20:53:40
  • EU drafts tougher rules on foreign investment, with an eye on China

    The European Commission, the executive arm of the EU, on Wednesday proposed to prevent non-EU companies that receive government subsidies from investing in or acquiring European companies.

    By GT staff reporters | 2021/5/6 20:23:39
  • China-US trade spat can be resolved through negotiations between equals: expert

    As the US government has expressed an expectation of holding a dialogue with leading Chinese trade officials for a review of the phase one trade deal – the first time since US President Joe Biden took the White House – Chinese experts urged the US to remove at least part of the punitive tariffs imposed on Chinese products to show sincerity for the pact's smooth implementation.

    By GT staff reporters | 2021/5/6 20:13:39
  • China's suspension of economic dialogue with Australia is legitimate response: FM

    China's suspension of all activities under the China-Australia Strategic Economic Dialogue is a necessary and legitimate response to Australia's restriction and crackdown on a raft of bilateral cooperation projects, and Canberra should take full responsibility for the move, China's Foreign Ministry said on Thursday.

    By Global Times | 2021/5/6 17:23:39
  • Hog production to exceed 50 million tons in 2021 in China: study

    The output of pork in China is to hit 50 million tons in 2021, up 20 percent from 2020 and the pork prices will continue to drop as a result, said a research report published by the Rural Development Institute of Chinese Academy of Social Sciences on Thursday.

    By Global Times | 2021/5/6 16:48:40
  • Tourism stocks fall at open on first trading day after prosperous May Day holidays in China

    Chinese tourism and hotel stocks fell at the opening of Thursday, the first trading day of the stock market, following positive travel data over the May Day holidays from May 1 to 5 that saw over 230 million passenger trips. The slump was triggered by callback following the rally before the holidays and market worries of the pandemic in India, analysts said.

    By Global Times | 2021/5/6 11:38:39
  • China's suspension of economic dialogue with Australia 'a necessary step' to defend national interests: analysts

    China's top economic planner announced on Thursday that it is suspending indefinitely all activities under the China-Australia Strategic Economic Dialogue, marking the first time that a diplomatic mechanism between the two countries was frozen on the heels of downward spiraling bilateral relations.

    By Li Xuanmin and Chen Qingqing | 2021/5/6 10:45:57
  • Tourism, health care and education top on young Chinese people's 2021 consumption list: survey

    A Chinese youths' consumption expectation list revealed by CCTV showed the sectors of tourism, health care and education ranked the top three places in the chart.

    By Global Times | 2021/5/6 10:28:39
  • May Day holiday augurs full-fledged consumption recovery

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

    By Xie Jun and Zhao Yusha | 2021/5/5 23:09:16
  • Chinese Embassy in India expresses concern on Chinese vendors' exclusion from 5G trials

    The Chinese Embassy in India on Wednesday expressed “concern and regret” after the Indian telecommunications ministry decided to exclude Chinese telecoms companies from conducting 5G trials with Indian telecom service providers.

    By Global Times | 2021/5/5 22:33:39
  • Chinese investors warm up to buy Australian properties

    Chinese investors are buying more Australian real estate as part of pent-up demand caused by the coronavirus, but experts said that other factors such as rising bilateral tensions and a drop in Australian housing value may lead some Chinese buyers to reconsider their future deals in the country.

    By GT staff reporters | 2021/5/5 21:47:43
  • EV battery giant CATL produces nine billionaires: Forbes

    Thanks to China's rapid growth in electric vehicles (EVs), the world's largest manufacturer of batteries for EVs - Contemporary Amperex Technology (CATL) - has produced nine billionaires, with the number of the mega-rich surpassing that for tech giants such as Google and Facebook, according to Forbes.

    By Zhang Dan | 2021/5/5 21:35:17
  • Huawei HarmonyOS phones are coming, challenges remain as devices market share keeps declining

    Huawei opened an account on Tuesday for its self-developed Harmony operating system (OS) on China's mass social media Sina Weibo, a move that may indicate the much-anticipated OS, which could help Huawei counter a US export ban, will be officially put into use on mobile phones soon, industry analysts say.

    By GT staff reporters | 2021/5/5 20:23:39
  • China's tourism sees a 'bang' during May Day holiday, with 230 million trips being reported

    China's tourism sees a 'bang' during May Day holiday, with 230 million trips being reported

    By Global Times | 2021/5/5 19:37:41
  • Digital yuan tests speed up during holidays, trials could expand to cross-border scenarios

    Testing of China's digital yuan has picked up speed during the May Day holiday along with the explosive recovery of the consumption sector, with the trials being expanded to intra-provincial scenarios, as well as in more places such as scenic spots.

    By GT staff reporters | 2021/5/5 19:23:40
  • Provincial fiscal revenues rebound to pre-pandemic levels

    Chinese provinces have reported a fast recovery in their fiscal revenues during the first quarter of the year, with collections returning to pre-pandemic levels while transfers for fiscal spending accelerated to provide support for public welfare, the Economic Daily reported on Wednesday.

    By Global Times | 2021/5/5 19:13:39
  • May Day travel rush points to booming tourism, management issues

    The May Day holiday in China has seen the biggest travel rush since the outbreak of the COVID-19 pandemic, but as hundreds of millions of travelers hit the road and tried to enjoy beautiful sceneries across the country, many also faced headaches.

    By Wang Bozun | 2021/5/5 19:08:39
  • Holiday box office hits record high as people throng to theaters

    China's box office during the May Day holiday set a new high of 1.6 billion yuan ($247 million), breaking the 1.52 billion yuan record of 2019 and signaling the country's rapid recovery from the coronavirus' fallout.

    By Global Times | 2021/5/5 18:38:09
  • China continues to see record travel numbers over holiday, consumption witnesses 'explosive recovery'

    China has continued to see a record number of travelers across the country as the five-day May Day holiday nears its end. As return passenger flow increased on Tuesday, the fourth day of the holiday, China Railway estimated that the number of daily trips will reach 15.2 million, while 1,361 additional passenger trains will be put into service to meet demand.

    By Global Times | 2021/5/4 16:21:07
  • China's growth prospects, further opening-up in favor of attracting FDI inflows: OECD expert

    China's favorable growth prospects and further opening-up policies are key factors that attract foreign direct investment (FDI), said an official of the Organization for Economic Cooperation and Development (OECD) on Monday.

    By Xinhua | 2021/5/4 11:27:17
  • China's major ports report growth in container throughput

    China's major ports reported growth in container throughput in mid-April, data from an industrial association shows.

    By Xinhua | 2021/5/4 11:20:05
  • Hong Kong GDP up 7.8% in Q1 after 6 straight quarters of decline

    Hong Kong's GDP saw an increase of 7.8 percent in the first quarter this year, substantially beating market expectations of around 3.7 percent and ending six straight quarters of growth decline, according to data released by the government of the Hong Kong Special Administration Region (HKSAR) on Monday.

    By Global Times | 2021/5/3 16:55:10
  • Global investors flock to China amid improved business environment

    Global investors' enthusiasm for the Chinese market seems unstoppable despite the COVID-19 pandemic, as the latest data showed that China successfully navigated the economic fallout in the turbulent year and became the top investment destination worldwide.

    By Xinhua | 2021/5/3 14:59:08
  • China's May Day holidays open on an upbeat note with flight, hotel bookings hitting record highs over 1st day

    The May Day holidays opened on an upbeat note, with flight and hotel bookings hitting record highs on Saturday, as "revenge" travel and consumption is now all the rage over the five-day holiday, the first long break Chinese people could enjoy taking trips this year after the stay-put-advocated Spring Festival.

    By Global Times | 2021/5/2 13:35:06
  • Companies including Tencent Holdings each fined $77,000 over monopoly

    Nine Chinese companies, including Chinese internet giant Tencent and subsidiaries of ride-hailing company DiDi and e-commerce giant Suning, were each fined 500,000 yuan ($77,220) over antimonopoly breaches, the State Administration for Market Regulation (SAMR) announced on Friday, right before the nation's May Day holidays.

    By Global Times | 2021/4/30 19:24:44
  • CAAC changes its regulation for inbound flights to China to help travelers

    The Civil Aviation Administration of China (CAAC) modified its policy for airlines flying to China. Market observers said the reform is more flexible and helps travelers.

    By Global Times | 2021/4/30 0:10:58
  • Chinese regulators summon internet finance firms, a demonstrative move for other players to investigate own issues

    China's financial regulators held talks with representatives of 13 internet firms which have fintech businesses including Tencent, Du Xiaoman Finance owned by Baidu, JD Finance, ByteDance, Meituan Finance and Didi Finance on Thursday on strengthening anti-monopoly supervision and preventing disorderly expansion of capital.

    By GT staff reporters | 2021/4/29 22:18:40
  • Unprecedented stimulus to fire up May Day holiday spending

    Few things are more beautiful than taking a trip in the springtime, an experience that however has been complicated by the COVID-19 epidemic. For consumers in the world's second-largest economy, the coming five-day May Day holidays, some say is the first long holiday they can really enjoy outdoor trip in the best season of the year since the virus hit last year, mark the start of China's biggest-ever consumption stimulus-themed month.

    By GT staff reporters | 2021/4/29 21:58:39
  • China to see 265 million passenger trips during the upcoming May Day holidays

    China will see 265 million passenger trips during the 2021 May Day holidays, said the Ministry of Transport on Thursday. Different transportation volume, including highway transportation and train trips during the five-day holidays is also expected to hit a new record high, driven by spiking travel enthusiasm of Chinese people.

    By Global Times | 2021/4/29 21:28:39
  • Digital yuan will boost real economy via consumption with more application scenarios in China

    The scope of the use of the digital yuan will be further expanded during this year's May 5 Shopping Festival, which will kick off on Saturday. With digital yuan red envelopes, or consumption coupons, that will be handed out to consumers, analysts say digital yuan will help boost the real economy through growth in consumption.

    By Chi Jingyi and Qi Xijia | 2021/4/29 21:23:52
  • China-India bilateral trade shows strong resilience: MOFCOM

    The China-India bilateral trade is showing strong resilience as the trade volume decline between the two countries remains much lower than India's decline in global trade in 2020. Bilateral trade has been continuously increasing in the first quarter of 2021, said the spokesperson of the Ministry of Commerce (MOFCOM) on Thursday.

    By Global Times | 2021/4/29 20:23:39
  • China summons 13 internet firms with financial business, vowing to strengthen anti-monopoly supervision

    China summons 13 internet firms with financial business, vowing to strengthen anti-monopoly supervision

    By Global Times | 2021/4/29 19:47:08
  • 5-day holiday presale box office surpasses 100 million yuan

    China's presale box office for the upcoming 5-day May Day holidays surpassed 100 million yuan ($15.45 million) by 5 pm on Wednesday, latest data showed, signifying a robust rebound after the COVID-19 impact. In addition, Chinese major film firms had positive net profit in the first quarter.

    By Global Times | 2021/4/29 19:33:39
  • US aviation giants hope to gain more market in China

    After losing six quarters in a row, Boeing CEO urged the Biden administration to establish good trade relations with China, and said that the aircraft orders from China will be the key to the company's long-term development.

    By GT staff reporters | 2021/4/29 18:13:39
  • A total of 265 million passenger trips are expected during the upcoming 5-day May Day holidays

    A total of 265 million passenger trips are expected during the upcoming 5-day May Day holidays, one of the hottest since the outbreak of the COVID-19 pandemic and may exceed that seen in the same holidays in 2019.

    By Global Times | 2021/4/29 11:43:39
  • China scraps tariffs on some steel products to curb iron ore prices

    China announced on Wednesday that it would scrap tariffs on certain steel products and raw materials starting on May 1, in a bid to curb iron ore consumption amid skyrocketing prices that have hurt domestic businesses, while benefiting foreign suppliers such as Australia.

    By Yin Yeping | 2021/4/28 22:58:39
  • Businesses look for opportunities as China-Germany ties grow closer

    With Chinese and German leaders eyeing greater cooperation supposedly underpinned by a transparent and reciprocal investment deal between China and the EU, the business communities of both countries are hoping for greater closeness in areas including trade and supply chains.

    By GT staff reporters | 2021/4/28 22:21:03
  • China's film companies report positive growth in Q1, reserving an extended run of losses under COVID-19

    China's film industry is saw positive growth in the first quarter of the year as cinema goers return to theatres and screenings get back to normal. The sector was hugely hammered by the fallout of COVID-19 in 2020.

    By Global Times | 2021/4/28 22:08:40
  • Japan ratifies RCEP in another step forward for biggest trade pact

    Japan on Wednesday approved the Regional Comprehensive Economic Partnership (RCEP) following similar actions by China, Singapore and Thailand, marking another step forward for the implementation of the world's biggest free trade pact.

    By Ma Jingjing | 2021/4/28 22:03:39
  • Fares jump on China-US air routes after US eases travel ban for Chinese students

    Fares and demand for flights from China to the US skyrocketed overnight after the US eased travel bans on Chinese students on Monday, data showed on Wednesday.

    By Xiong Xinyi | 2021/4/28 21:48:39
  • As hundreds of millions of Chinese brace for a May Day travel frenzy, sales of instant pee bags shot through the roof

    As the five-day May Day holidays approach, the sales of “traffic-friendly” products such as “emergency mini toilet”, a kind of instant pee bag, have surged as over 300 million people have been predicted to travel during the holidays.

    By Global Times | 2021/4/28 20:24:05
  • Objective, just voices about Xinjiang on the rise: China's Foreign Ministry

    Objective and just voices about China's Xinjiang Uygur Autonomous Region have been on the rise recently around the world, China's Foreign Ministry said on Wednesday.

    By Global Times | 2021/4/28 19:48:41
  • Meituan vows to improve work condition for deliverymen after official's undercover work

    Chinese largest online food delivery platform Meituan vowed on Wednesday to improve working conditions for its vast network of deliverymen after an official at the Beijing municipal government undertook one day's delivery work and exposed certain issues, including low wages.

    By Global Times | 2021/4/28 19:28:40
  • Official allays concerns about overreliance on foreign breeding pigs

    A Chinese official on Wednesday sought to allay rising concerns over reported sharp declines in the domestic pig breeding industry and overreliance on foreign supply, saying that China has cut reliance on foreign imports as local supply is guaranteed.

    By Global Times | 2021/4/28 18:58:39
  • Ministry issues strict anti-virus rules at tourist spots ahead of travel peak

    Chinese holiday-goers are recommended to make appointments before visiting tourist attractions during the coming five-day May Day holiday that begins on May 1. Managers of the scenic spots are required to take in visitors based on their capacities and local COVID-19 prevention measures.

    By Global Times | 2021/4/28 18:43:40
  • US only damages Africa's interests by seeking exclusivity on the continent: FM

    The US should take practical actions to help African countries that are facing COVID-19 challenges and refrain from seeking exclusivity and competition with China on the continent, which would only sabotage the interests of African countries, China 's Foreign Ministry said on Wednesday.

    By Global Times | 2021/4/28 17:43:40
  • China's import of breeding pigs account for just 10%: agriculture ministry

    China has imported fewer than 10,000 breeding pigs each year, accounting for less than 10 percent of overall breeding pigs population, a scientist said on Wednesday, stressing that domestic breeding pigs supply is guaranteed.

    By Global Times | 2021/4/28 17:17:35
  • Japan ratifies world's largest free trade deal following China, Singapore and Thailand

    Japan on Wednesday approved the Regional Comprehensive Economic Partnership (RCEP) following the pace of China, Singapore and Thailand, making a further step for the implementation of the pact on January 1, 2022.

    By Global Times | 2021/4/28 13:44:14
  • Tesla appears to be doubling down on allegations against protestor

    Tesla China said in a statement on Wednesday that it reached out to the Tesla owner who protested at the Shanghai Auto Show and the two parties have been in an ongoing dialogue.

    By Global Times | 2021/4/28 12:33:40
  • China-CEEC customs information center kicks off operations in Ningbo

    China and Central and Eastern European Countries (CEEC) customs information center was officially put into operation in Ningbo, East China's Zhejiang Province on Tuesday, marking a milestone for China-CEEC cooperation, according to the General Administration of Customs of China.

    By Global Times | 2021/4/28 1:32:37
  • Scholars call for innovative cooperation between China, Gulf countries

    The energy sector has been a major and stable part of economic cooperation between China and Gulf countries, the two sides should strengthen efforts on innovation cooperation as the sound bilateral ties has provided foundation, scholars and experts said Tuesday.

    By Global Times | 2021/4/27 22:27:55
  • China accepts France's BNP Paribas' application to set up brokerage amid uncertainty in investment deal with EU

    The China Securities Regulatory Commission (CSRC) on Tuesday accepted France-based BNP Paribas' application for the establishment of a securities firm in China, the latest sign of the appeal of China's financial opening for European investors, even as some anti-China forces are casting doubts over an investment deal between China and the EU.

    By Global Times | 2021/4/27 22:27:41
  • All but two Chinese provincial-level areas report double-digit GDP growth in Q1

    All of China's provincial-level areas, except for Northeast China's Jilin and Southwest China's Tibet Autonomous Region, which have yet to report their figures, recorded double-digit GDP growth in the first quarter, according to statistics released as of Tuesday.

    By Global Times | 2021/4/27 21:33:39
  • China studies measures to curb soaring iron ore prices

    The Chinese government is paying close attention to soaring iron ore prices and is studying measures to expand supplies to curb prices, a Chinese steel industry insider said on Tuesday, in a move that could affect Australia's massive iron ore exports.

    By Yin Yeping | 2021/4/27 21:28:40
  • Sales of Guangxi luosifen noodles surge after President Xi's 'thumbs-up'

    Sales of luosifen rice noodles, a local specialty in South China's Guangxi Zhuang Autonomous Region, have skyrocketed across the country after Chinese President Xi Jinping praised the rapidly growing industry on Monday.

    By Global Times | 2021/4/27 21:19:33
  • Chinese pharma firms mull bypassing India in global supply chain amid raging virus wave

    Some Chinese executives with business ties to India are pondering efforts to cut their reliance on Indian companies by bypassing or replacing them in the global supply chain, after warnings of potential disruptions to various global industries from an economy-crippling pandemic peak in the South Asian country.

    By Chu Daye and Yin Yeping | 2021/4/27 20:53:39
  • Australia 'is sick', needs to take medicine: China's Foreign Ministry

    China is not responsible for the current difficulties facing China-Australia relations. It is the Australian side that torn up the cooperation agreement between China and Australia, sabotaging normal exchanges and cooperation between the two countries, China's Foreign Ministry said on Tuesday.

    By Global Times | 2021/4/27 18:38:14
  • Tesla 'brakes' in China over image crisis, despite record Q1 earnings

    While releasing record first-quarter earnings on Monday (US time), Tesla CEO Elon Musk avoided any specific mention of the Chinese market, in an apparent attempt to brush its public relations crisis in China under the carpet – a notable sharp contrast to his previous high-profile emphasis on the Chinese market.

    By GT staff reporters | 2021/4/27 18:23:40
  • China Brand Day to be held on May 10, to promote Chinese brands' prestige

    The upcoming May 10 marks the fifth China Brand Day and this year's theme will focus on “Dual Circulation and New Consumption,” said the National Development and Reform Commission (NDRC), with an emphasis on continuously promoting China's own brands to help form a strong domestic market.

    By Global Times | 2021/4/27 17:13:40
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