Economy
Washington's rebalancing strategy did not achieve its expected effect; on the contrary, the US-initiated geopolitical tensions has caused anxiety among Pacific island countries.
By Hu Weijia | 2022/12/6 22:47:39
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  • China-Germany cooperation potential continues to rise as both sides increase engagement: expert

    Despite some Western voices calling for Germany to decouple from China, China-Germany ties remain robust following the latest visit by German Chancellor Olaf Scholz, which injected new momentum into the relationship. The Global Times reporters Zhao Jucheng and Xiong Xinyi (GT) recently interviewed Hermann Simon (Simon), inventor of the "Hidden Champions" and a famous German expert in strategy, marketing and pricing, who shared his insight on bilateral cooperation.

    By Zhao Juecheng and Xiong Xinyi | 2022/12/6 22:06:21
  • US hurts own interests by politicizing normal PV trade with China: analysts

    By recklessly politicizing normal trade in photovoltaic (PV) products with China, the US is hurting the profits of its own industries and putting up barriers on its emissions reduction path, analysts said on Tuesday, after Washington revealed preliminary results of a probe and accused four Chinese solar panel producers of "circumventing" US tariffs.

    By Global Times | 2022/12/6 21:15:06
  • China slams reported US tariffs on steel, aluminum, vows necessary measures

    China's Foreign Ministry on Tuesday expressed opposition to unilateral tariffs that violate WTO rules and vowed necessary measures to protect China's rights and interests, as the US is reportedly pushing for an agreement with the EU on imposing additional tariffs on Chinese steel and aluminum exports.

    By Ma Jingjing | 2022/12/6 21:04:37
  • With easing restrictions on inter-provincial movement, tourism recovery may exceed expectations

    With continuous implementation of China's targeted anti-virus measures, a recovery in people's willingness to travel in the country is expected, as more provinces have announced the lifting of temporary epidemic control zones and resumption of inter-provincial travel.

    By GT staff reporters | 2022/12/6 19:24:12
  • COVID testing companies roll back businesses as more Chinese cities remove requirements for PCR results

    Medical care companies engaged in anti-pandemic nucleic acid testing that have made big money are rolling back their business, as China has moved to scale down massive PCR screening amid the government's shift to optimize COVID response.

    By Global Times | 2022/12/6 20:04:48
  • TSMC set to expand US investment under political pressure, but faces huge pains

    A new Taiwan Semiconductor Manufacturing Co (TSMC) plant in the US was set to have a tool-in ceremony on Tuesday US time, marking the installation of the first equipment at the facility as the latest example of Washington's efforts to lure chip companies to manufacture in the US with subsidies and political maneuvers.

    By Global Times | 2022/12/6 19:52:28
  • Gas channeled into national pipeline network tops 140 million cubic meters per day: PipeChina

    Eleven gas storage facilities linked to China's oil and gas pipeline network had launched gas extraction as of 8 am on Monday, with the daily amount of gas being channeled into the pipeline network exceeding 140 million cubic meters, enough to meet the increasing need for natural gas in North China, according to state-owned energy pipeline giant PipeChina.

    By Global Times | 2022/12/6 18:06:48
  • US Inflation Reduction Act stirs up trade row across Atlantic

    After several months of silence, the 27-nation European Union has begun to recognize the true intentions of the Biden administration's much-trumpeted legislation passed by the US Congress, the so-called US Inflation Reduction Act (IRA).

    By Wen Sheng | 2022/12/6 16:37:53
  • Western oil price cap to intensify conflict with Russia, undermine global recovery

    Affected by the crude price cap on Russian seaborne oil imposed by G7 countries and worries that the US Federal Reserve could continue its aggressive monetary tightening policy, global oil prices saw sharp fluctuations on Monday. Brent crude futures were down $2.57, or 3 percent, at $83 a barrel after touching $88 during trading.

    By Wang Yi | 2022/12/6 15:48:55
  • Chinese scientists use genetics to solve pre-harvest sprouting for rice, wheat

    A Chinese research team recently identified key genes used to control pre-harvest sprouting of rice and wheat, which will effectively reduce crop losses and help ensure China's food security in the long term, according to the study that was published by Nature Genetics on Monday.

    By Global Times | 2022/12/6 14:58:11
  • E.China's Hangzhou Internet Court accepts NFT collection as virtual assets in lawsuit

    ​The Hangzhou Internet Court in East China's Zhejiang Province recently ruled on an NFT collection related lawsuit, which accepted NFT collections to be virtual assets and made judgement according to relevant law, the court announced via its official WeChat account recently.

    By Global Times | 2022/12/6 12:55:19
  • Chinese stocks, yuan stage powerful rally amid upturn in economic expectations

    Chinese assets staged a powerful rally on Monday, with the flagship Shanghai Composite Index regaining the 3,200 level last seen in mid-September and the yuan strengthening past the psychologically important level of 7 per US dollar.

    By GT staff reporters | 2022/12/5 21:40:25
  • Banks in multiple Chinese cities launch deferred mortgage repayment service, with maximum extension of 12 months

    Banks in multiple Chinese cities have launched deferred mortgage repayment services recently to ease the pressure on home buyers who have been impacted by the COVID-19 epidemic, with a maximum extension of 12 months, reports said on Monday.

    By Global Times | 2022/12/6 1:12:24
  • Beijing authorities warn against stockpiling, price hoarding for COVID-19 prevention products

    The Beijing Municipal Market Supervision Bureau warned on Monday against stockpiling, spreading false news or monopoly pricing for coronavirus prevention products like masks or medicine, with sales of such products surging after many Chinese local governments optimized their COVID-19 prevention measures toward a more flexible, scientific approach.

    By Global Times | 2022/12/6 0:57:33
  • China-India farm cooperation can grow amid global shortages

    If India wants to pile up grain reserves, the country has no choice but to achieve an increase of grain production. China and India have broad space for cooperation in the fields of agricultural infrastructure, finance, and agricultural technology.

    By Hu Weijia | 2022/12/5 23:01:36
  • China supports financial bodies on Sri Lanka debt talks: ministry

    China maintains good long-term cooperative relations with international financial institutions including the IMF and supports relevant financial institutions to properly negotiate and address debt issues with Sri Lanka, Chinese Foreign Ministry spokesperson Mao Ning said on Monday, in response to media reports about an IMF team's visit to China this week to discuss debt restructuring for Sri Lanka.

    By Global Times | 2022/12/5 19:08:54
  • China, Australia share same goal of emission reduction, have broad prospects for cooperation: Chinese ambassador

    China and Australia share the same goal of reducing carbon dioxide emissions and the development of a low carbon economy, and the two nations have broad prospects for cooperation, Chinese Ambassador to Australia Xiao Qian said on Monday.

    By Global Times | 2022/12/5 23:14:07
  • Zhejiang firms keen on overseas clients

    A delegation of businessmen and representatives of the Department of Commerce of East China's Zhejiang Province on Sunday departed for a six-day trip to France and Germany. The trip is the first organized by a provincial-level government since the outbreak of COVID-19 to help foreign trade enterprises explore overseas market, the Global Times learned.

    By Chi Jingyi and XiongXinyi | 2022/12/5 21:17:50
  • Chinese NEVs shine at Thailand auto show; more export opportunity expected amid global energy crunch

    China's leading new-energy vehicle (NEV) makers showcase their latest models at the 39th Thailand International Motor Expo held in Bangkok, which runs through December 12, as Chinese auto brands accelerate their go global push, along with improving their international competitiveness.

    By GT staff reporters | 2022/12/5 21:14:21
  • Passenger flights rise as cities ease pandemic curbs on public transport in China

    Domestic passenger flights are increasing in China as more cities gradually remove anti-COVID curbs for public transportation, and some cities have witnessed a rise of more than 200 percent in flights over the weekend.

    By GT staff reporters | 2022/12/5 20:24:52
  • Energy becomes important part of cooperation between China and Arab countries, official says

    Energy has become an important area of cooperation between China and Arab countries, a spokesperson of China's Ministry of Foreign Affairs said during a routine press conference on Monday.

    By Global Times | 2022/12/5 19:53:46
  • Relentless US crackdown on Chinese companies is doomed: experts

    Disinformation by some US politicians regarding Chinese companies, hyping the so-called risks to the US "national security", will fail to achieve their goals as the relentless crackdown won't hinder the demand of America consumers for Chinese goods and services, experts told the Global Times.

    By Global Times | 2022/12/5 19:32:11
  • Annual economic conference to set specific plans for recovery: experts

    Multiple Chinese cities and provinces have announced their 2003 economic plans with a focus on expanding investment and implementing major projects, ahead of a key economic meeting of top Chinese policymakers near the end of 2022.

    By Qi Xijia | 2022/12/5 19:25:38
  • New-energy products, solar heating equipment account for three of top 10 best-selling goods from China: report

    New energy products including household solar heating tools account for three of the top 10 best selling goods from China, according to an industry data released on Monday, highlighting the rapid response of China's industry chain to overseas market demand.

    By Global Times | 2022/12/5 17:25:22
  • China's services sector activity shrinking further in November: private survey

    ​Activities in the services sector contracted further in November as anti-COVID restrictive measures in multiple provinces and cities dampened production and demand, a private survey showed on Monday.

    By Global Times | 2022/12/5 16:43:11
  • Chinese cities move to loosen anti-COVID restrictions; riders no long need test results to take public transit system

    Multiple provinces and cities across China have moved to gradually loosen anti-COVID restrictions, as local residents no longer need to present negative nucleic acid test results and scan health code when entering public venues and taking public transit systems.

    By Global Times | 2022/12/5 14:16:47
  • China's largest land electricity-driven marine oil field project completes power transmission

    China's largest land electricity application project, the Bozhong-Kenli oil field under China National Offshore Oil Corporation (CNOOC), on Monday completed the power transmission to three offshore platforms, a key milestone toward the oil field entering operation, CCTV reported.

    By Global Times | 2022/12/5 13:47:28
  • First train service with blockchain technology offers efficiency to China-Laos railway line

    ​A train loaded with a great variety of value-added goods such as bikes, lamps and ceramic tiles was dispatched from Chengdu's air-rail international combined transport port, located in Southwest China's Sichuan Province, on Sunday, before heading to Vientiane, capital of Laos, marking the first time blockchain technology was applied to the international intermodal chain.

    By Global Times | 2022/12/4 22:26:45
  • Guangdong exporters endeavor to explore new markets amid growing headwinds

    Facing a complex and volatile international situation, foreign trade enterprises in South China's Guangdong Province, one of the country's manufacturing hubs, have actively stepped up measures including exploring new overseas and domestic markets to snap up more orders.

    By GT staff reporters | 2022/12/4 19:39:08
  • Chinese solar industry decries reported new US crackdown measures

    Chinese solar panel companies and industry insiders on Sunday expressed defiance over the US' reported plan to impose new tariffs on Chinese firms that it deems to be “circumventing” US tariffs.

    By Global Times | 2022/12/4 21:29:05
  • EU's possible WTO filing against US bill shares global concerns: experts

    The EU's possible filing of a complaint over the US so-called Inflation Reduction Act (IRA) at the WTO represents widespread global concerns, including those of China, for the foreseeable damage that US subsidies will have on global free trade and a level playing field, experts said.

    By GT staff reporters | 2022/12/4 21:08:36
  • China's delivery volume hits 100 bln parcels faster than in 2021

    On the first day of December, a box of honey pomelo sent from Zhangzhou to Xiamen, East China's Fujian Province became the nation's 100 billionth parcel shipped in 2022, a milestone which came seven days faster than last year, real-time monitor data by the State Post Bureau (SPB) revealed.

    By Zhang Hongpei | 2022/12/4 20:04:16
  • Global leaders warn against split in world economy at IFF, commend China's stabilizing role

    Leaders from international organizations, executives of major global financial institutions and experts on Sunday called for open and pragmatic cooperation among countries to jointly deal with multiple challenges and put the global economic recovery back on track.

    By Ma Jingjing and Xie Jun | 2022/12/4 19:46:07
  • Key project of China-Russia east-route natural gas pipeline is completed

    A key construction project of the China-Russia east-route natural gas pipeline was completed on Saturday. It will allow Russian gas to cross the Yangtze River to reach Shanghai, laying the foundation for the full completion of the landmark China-Russia energy cooperation project.

    By Global Times | 2022/12/4 19:01:24
  • China-Laos Railway transporting 543 tons of banana, longan and durian to China

    The first direct freight train carrying tropical fruits arrived at Mohan Port in Southwest China's Yunnan Province via the China-Laos Railway, marking the operation of direct fruit transport along the railway, as the line's one year anniversary came, Xinhua News Agency reported on Sunday.

    By Global Times | 2022/12/4 16:07:44
  • China continues to optimize COVID-19 response, with some places stopping to provide free PCR tests

    Chinese cities have moved to optimize COVID-19 responses under the principle of “consistent strategy and flexible measures” based on the weaker Omicron strain with some areas stressing precision nucleic acid testing.

    By Global Times | 2022/12/4 14:55:53
  • China begins nuclear island installation of land-based small modular reactor

    The nuclear island installation of the world's first commercial land-based small modular reactor, Linglong One, has officially begun construction in South China's Hainan Province, China's Central Television reported on Sunday.

    By Global Times | 2022/12/4 14:48:27
  • China, EU should always be two strong poles of a multipolar world

    Facing “deglobalization” and “decoupling” headwinds orchestrated by the US, it is imperative for the EU and China to stand together and say no to Washington's attempt to debilitate our world.

    By Wen Sheng | 2022/12/3 13:13:59
  • Key meetings in December set tone for China's economic policy next year

    China will conduct its fifth national economic census in 2023 to take stock of the country's economic and social development, a move that comes as the country braces for a slew of tone-setting economic symposiums in December, including the annual Central Economic Work Conference, which will lay out the macroeconomic policy foundation for a head start next year.

    By GT staff reporters | 2022/12/2 22:27:06
  • China-Laos Railway demonstrates huge value after first year of operation

    As the China-Laos Railway celebrates its first full year in service on Friday since going into operation, the 1,035-kilometer-long milestone project has created a bright path for developing the local economy and improving the livelihoods of people along the route under the China-proposed Belt and Road Initiative (BRI).

    By GT staff reporters | 2022/12/2 22:28:56
  • Chinese FM urges US to perceive China correctly and follow through on Biden's commitment

    The Chinese Foreign Ministry on Friday urged the US to perceive China correctly and earnestly follow through on President Biden's commitment of not seeking decoupling from China, halting China's economic development or containing China.

    By Global Times | 2022/12/2 20:12:43
  • Yuan to see increased use in bilateral trade between China and Russia as dollar, euro share declines, 'pushing internationalization drive'

    More Chinese yuan is expected to be used in cross-border settlement between China and Russia, further promoting yuan's internationalization process, a Chinese expert said on Friday, after Russia's central bank said international settlements and payments in alternative currencies have soared at the expense of the US dollar and the euro.

    By Global Times | 2022/12/2 17:26:24
  • China-Laos Railway transports 8.5 mln passengers and 11.2 mln tons cargos in first year

    The China-Laos Railway has carried a total of 8.5 million passenger trips and 11.2 million tons of cargos as of Friday on its first anniversary, according to a statement sent to the Global Times by China Railway.

    By Global Times | 2022/12/2 13:51:56
  • China-Laos Railway: one year on

    On December 3, 2022, the China-Laos Railway, a landmark project under the China-proposed Belt and Road Initiative (BRI), will welcome its fi rst anniversary. Building on a foundation of fruitful cooperation including the railway, Thongloun Sisoulith, general secretary of the Lao People's Revolutionary Party Central Committee and Lao president, paid a three-day visit to China starting on Tuesday, which has further deepened the friendship and economic ties between the two neighbors.

    By GT staff reporters | 2022/12/2 1:01:59
  • 'Decoupling' rhetoric won't hinder China's high-tech progress

    It is understandable that some US politicians may soften their tone to appease the market at time when the US is facing serious economic headwinds, but China will follow its own speed and rhythm in economic development and modernizing the nation's strategic industries.

    By Hu Weijia | 2022/12/2 0:07:27
  • Banks in EU face tougher rules on using cloud computing giants

    Financial firms in the European Union will have to show how quickly they could recover from a cyber attack as they rely more for key services on cloud computing giants such as Amazon, Microsoft, Google and IBM, the EU said earlier this week.

    By Reuters | 2022/12/1 23:48:18
  • Authorities may require background checks for most consumer lending

    When Melbourne barista Melinda Elliott had to cut back on casual work shifts this year, she asked her buy-now, pay-later (BNPL) provider, Afterpay, to lower her credit limit. She did not want debt she could not afford to repay.

    By Reuters | 2022/12/1 23:44:20
  • Will positive signs for China-EU investment deal lead to progress at last?

    As more European leaders are coming to China for talks in what appears to be a clear shift in approach to China, many are keenly watching for signs of breakthroughs in bilateral ties that have been strained over the past couple of years due to multiple factors, including internal differences and external meddling by the US. For the business communities of both sides, progress on economic and trade cooperation is of paramount importance. In this regard, the China-EU Comprehensive Agreement on Investment (CAI) is arguably one of the thorniest and yet most important items. The sweeping deal has been stuck in the ratification process within the EU and faces mounting challenges, but some positive signs are emerging.

    By Wang Cong | 2022/12/1 23:15:00
  • Chinese enterprises embrace new concept of sustainable development

    More Chinese enterprises are embracing the concept of ESG (Environmental, Social, and Governance) as they continue to improve their sustainable development capabilities and respond to the country's goal of reducing carbon emissions.

    By Xinhua | 2022/12/1 22:54:18
  • Earning reports of internet giants underline China's accelerating industrial digitalization

    A slew of listed Chinese Internet giants have unveiled their financial performances report in the third quarter of 2022, which shed light on the accelerated pace of industrial transformations in the country.

    By Xinhua | 2022/12/1 22:52:21
  • US' inflation reduction law suspected of breaching WTO rules: ministry

    Challenging the US Inflation Reduction Act (IRA) is an exercise of China's rights as a WTO member, the Ministry of Commerce (MOFCOM) said on Thursday, and it urged the US to strictly fulfill its obligations under WTO rules.

    By Global Times | 2022/12/1 19:34:55
  • China, EU forging symbiotic growth, says Commerce Ministry, as Michel's visit signals bloc's shift toward pragmatism

    The EU is willing to be a reliable and predictable partner for cooperation with China, and strengthen top-level exchanges and foster cooperation through direct dialogue so the two sides could better face global challenges, President of the European Council Charles Michel said in his meeting with Chinese President Xi Jinping.

    By Chu Daye and Li Xuanmin | 2022/12/1 21:01:33
  • Chinese stocks rally as market sentiment boosted by optimized anti-COVID measures

    As more Chinese local governments have moved to adopt more flexible and precise anti-epidemic measures, China's capital markets staged a rally on Thursday, as investors anticipate a strong rebound in the disease-burdened consumption sector.

    By Xie Jun and Xiong Xinyi | 2022/12/1 20:42:24
  • Chinese localities help farmers cope with cold waves; impact limited so far

    Chinese localities have stepped up efforts to protect crops, vegetables and livestock, as sweeping cold waves, along with heavy snow, have affected the agriculture and husbandry sector in some areas, including North China's Inner Mongolia Autonomous Region and Northwest China's Xinjiang Uygur Autonomous Region.

    By GT staff reporters | 2022/12/1 20:12:39
  • China's factory activity still in contraction in Nov, but optimism grows: private survey

    China's factory activity picked up slightly in November but remained in contraction territory due to COVID-19 outbreaks in multiple places across the country, while companies showed optimism for improved businesses next year, according to a private survey on Thursday.

    By Global Times | 2022/12/1 19:57:59
  • China 'willing to work with Pakistan' to accelerate energy development under CPEC

    China is willing to join hands with Pakistan to ensure that energy projects being built under the China–Pakistan Economic Corridor (CPEC) will be completed on schedule and established energy projects will run smoothly, Foreign Ministry spokesperson Zhao Lijian said on Thursday, expecting the flagship program of the Belt and Road Initiative (BRI) to improve the South Asian nation's energy structure and lower power generation costs.

    By Global Times | 2022/12/1 19:53:48
  • China's PV sector maintains strong growth in first 10 months

    China's photovoltaic (PV) sector maintained strong growth momentum from January to October, with exports hitting a record high amid surging demand overseas, contributing to the global low-carbon energy transition and energy security.

    By Global Times | 2022/12/1 19:31:38
  • Infographic: Dampened holiday spending in the US

    As inflation outpaces wage growth in the US, the traditional shopping season at the end of the year seems to have lost steam, with spending per consumer falling sharply. The number of gifts US consumers plan to buy during the holiday season has also fallen, with a heavier reliance on debt spending. Meanwhile, Made-in-China clearly remains indispensable for US consumers despite Washington's “decoupling” push.

    By Global Times | 2022/12/1 18:04:48
  • Pharmacies see growing demand for antiviral medicine as China readjusts anti-COVID policy

    Pharmacies in multiple Chinese cities have seen an increase in consumers purchasing antiviral medicine, while the overall supply of medication remains sufficient, according to Chinese media reports.

    By Global Times | 2022/12/1 14:47:00
  • Mainland stocks jump as local governments adopt flexible COVID-19 measures

    China's benchmark Shanghai Composite Index jumped 1.16 percent in a big rally at opening of tradeon Thursday, as investors felt encouraged by a shift in local governments' coronavirus management measures with a focus on a more scientific and flexible approach.

    By Global Times | 2022/12/1 13:13:34
  • Looming rail strike underlines deep-rooted problems US faces

    The labor dispute on the rails highlighted yet again the challenges facing the US economy. How to solve the deep-seated problems such as inflation, rising labor cost, and supply chain disruption is a key issue that needs to be properly dealt with.

    By Hu Weijia | 2022/11/30 23:46:35
  • UK govt's $839m buyout may be best exit for Chinese firm from troubled nuclear plant

    The UK government confirmed on Tuesday that it would spend 700 million pounds ($839 million) of its taxpayers' money amid the worst cost-of-living crisis in decades simply to buy out a Chinese firm's stake in the Sizewell C nuclear power plant, which has been plagued by massive delays, uncalculatable costs and serious pushback from some UK groups.

    By Wang Cong | 2022/11/30 23:13:58
  • UK won't be 'stupid' to cut off Chinese investment: British politician

    The relations between China and the UK are at a crossroads after UK Prime Minister Rishi Sunak announced in his first foreign policy speech on Monday that the "golden era" of UK-China relations is over. Calls for a potential decoupling with China are on the rise among British politicians, which is particular evident in the high-tech sectors such as semiconductors and nuclear power. The Global Times (GT) recently conducted in an interview with Lord Neil Davidson (Lord Davidson), Shadow Treasury Minister for the Labour Party of the UK and member of the House of Lords, who shared his insights on the China-UK relations, UK's policy direction toward China and the development of China-propsed Belt and Road Initiative within the European bloc.

    By Li Xuanmin | 2022/11/30 22:23:06
  • Public transportation partially restored in Xinjiang after latest COVID-19 outbreaks

    Northwest China's Xinjiang Uygur Autonomous Region is gradually resuming public transportation, with flights and railway routes partially restored.

    By Global Times | 2022/11/30 22:09:00
  • Chinese companies eye industrial cooperation along China-Laos Railway

    As the China-Laos Railway will soon mark its first anniversary of operation, a group of Chinese firms and research institutions have kicked off a two-week field study along the route of the railway, exploring cooperation with local companies in Laos and Thailand, the Global Times learned on Wednesday.

    By Global Times | 2022/11/30 22:04:47
  • China-Germany stock link technically ready; move means enhanced capital market connectivity with Europe

    A stock link-up between China and Germany is on the horizon, Niels Tomm, representative of the board at Deutsche Börse, said at a forum in Shanghai that ended on Wednesday, in a major step toward enhancing China-Europe capital market connectivity.

    By GT staff reporters | 2022/11/30 21:51:18
  • UK urged to be fair with Chinese businesses after a Chinese company is forced out of power project

    Chinese Foreign Ministry on Wednesday urged the UK to provide a fair, just and non-discriminatory environment for Chinese companies and create favorable conditions for China-UK cooperation after the British government squeezed Chinese investment out of a power project on so-called national security grounds.

    By Global Times | 2022/11/30 21:37:38
  • Businesses in Guangzhou actively prepare to resume work amid optimized anti-COVID efforts

    Many companies in Guangzhou, South China's Guangdong Province are actively preparing to resume work and production after the local government announced optimized anti-epidemic measures and vowed to stabilize overall economic development.

    By GT staff reporters | 2022/11/30 21:29:51
  • China ramps up efforts to ensure energy supply for winter

    China is deploying both domestic and overseas energy resources to ensure stable supplies for winter heating, while further optimizing the country's energy mix to enhance supply security amid a complex international energy situation, and officials stressed on Wednesday that energy supply remains sufficient and stable.

    By Ma Jingjing | 2022/11/30 21:04:16
  • Chinese local govts issue 439.9b yuan in special-purpose bonds in Oct to lift growth

    Local governments in China issued 439.9 billion yuan ($61.6 billion) in new special-purpose bonds in October, up from 24.1 billion yuan in September and 51.6 billion yuan in August, as the country accelerates fundraising to shore up the economy amid a conflux of headwinds ranging from COVID-19 flare-ups to global geopolitical uncertainties.

    By Global Times | 2022/11/30 19:15:36
  • China's manufacturing activity slows down in November as official PMI comes in at 48

    China's factory activity further contracted in November as COVID-related restrictive measures in multiple provinces and cities and weaker market demand hit manufacturing and export. Experts called for more policy stimulus in order to put the economy back on normal track as soon as possible.

    By Global Times | 2022/11/30 18:19:15
  • Chinese tech giant Baidu to build world's largest fully driverless ride-hailing service area in 2023

    The tech giant Baidu Inc Tuesday announced plans to build the world's largest autonomous ride-hailing service area in 2023. The announcement came during a celebration of Apollo Day, Baidu's autonomous driving tech event.

    By Global Times | 2022/11/30 14:48:58
  • China's post authority refutes rumors of nationwide suspension of package delivery

    The State Post Bureau (SPB) of China on Tuesday refuted a market rumor of large area suspension of logistics sector, noting that the current operation is running normally.

    By Global Times | 2022/11/30 14:18:45
  • Premier Li calls for enhanced energy cooperation between China and Kazakhstan

    Chinese Premier Li Keqiang on Tuesday said that energy cooperation is the cornerstone of practical cooperation between China and Kazakhstan, and it is hoped that Kazakhstan will ensure the stable supply of gas to China in accordance with the contract and increase its gas supply in winter as much as possible.

    By Global Times | 2022/11/30 2:00:21
  • Retail industry eyes vast market in China's counties amid growing consumption power

    "Grab a coffee" now seems to become an omnipotent invitation among Chinese consumers, from meeting the social demand for basically all scenarios to refreshing the mind for hard workers all at a sip.

    By GT staff reporters | 2022/11/29 23:33:58
  • China, Russia eye closer energy coopeartion at bilateral forum amid external risks

    Chinese President Xi Jinping said on Tuesday that China is ready to work with Russia to forge a closer partnership in energy cooperation, the Xinhua News Agency reported, as both countries are seeking to expand energy trade amid an increasingly unstable global energy market.

    By Global Times | 2022/11/29 23:40:35
  • US economy likely to be persistently hampered by high inflation

    Days after flocking to stores on Black Friday, American consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price due to high inflation, the Associated Press (AP) reported on Monday.

    By Hu Weijia | 2022/11/29 23:17:57
  • C919 wins production certificate from CAAC, a milestone for mass production

    The producer of China's passenger aircraft C919 said on Tuesday that the plane has won the production certificate (PC) from the regulator, the Civil Aviation Administration of China (CAAC), a milestone toward the mass production of the aircraft.

    By Global Times | 2022/11/29 21:38:21
  • China's C919 jet receives production certificate from CAAC, a milestone for mass production

    China's C919 jet receives production certificate from CAAC, a milestone for mass production

    By Global Times | 2022/11/29 20:24:57
  • China to pursue broader opening-up policy: spokesperson

    China will continue to pursue its opening-up policy on a larger scale and in a deeper manner, Foreign Ministry spokesperson Zhao Lijian said on Tuesday.

    By Global Times | 2022/11/29 20:21:05
  • China accelerates infrastructure construction

    China's infrastructure construction is accelerating, an indication that the central government aspires to do whatever in its capacity to build up public confidence in the country's economic growth despite a new wave of coronavirus outbreaks.

    By Xie Jun | 2022/11/29 19:51:24
  • China helps Laos tap hydropower potential, boosts electricity export

    China-Laos energy cooperation has brought new development opportunities to remote villages in the Southeast Asian nation's mountainous regions, assisting the hydropower-rich nation to leverage its water resource and boost electricity export, business representatives said on Tuesday.

    By GT staff reporters | 2022/11/29 19:45:20
  • Number of China-Europe freight trains on eastern passages tops 20,000

    The cumulative number of China-Europe freight trains via Manzhouli Port in North China's Inner Mongolia Autonomous Region and Suifenhe Port in Northeast China's Heilongjiang Province reached 20,000 on Tuesday, a milestone for what's known as the eastern passageways that have been in operation since 2013.

    By Global Times | 2022/11/29 19:31:26
  • Agriculture ministry assists Henan Province to settle unsold vegetables

    China's Ministry of Agriculture and Rural Affairs (MOA) organized a number of wholesale markets to purchase 4,677 tons of unsold vegetables in Central China's Henan Province from November 22 to 28. Henan is one of the largest vegetable production provinces in the country.

    By Global Times | 2022/11/29 19:27:07
  • US senator's proposed ban on Chinese chips only serves political goals: analysts

    Chinese analysts on Tuesday criticized US Senate Majority Leader Chuck Schumer's proposal to ban the US government from conducting business with firms that use Chinese-made semiconductors, stressing the move only serves political goals and does nothing to benefit the global supply chain.

    By Global Times | 2022/11/29 19:07:28
  • Chinese trade promotion agency plans 35 overseas expos to boost exports amid downward pressure

    China's main foreign trade promotion agency said on Tuesday that it has recently approved 15 overseas economic and trade exhibition projects out of 35 such exhibitions planned to boost exports, which face downward pressure amid weak external demand and domestic COVID-19 flare-ups.

    By Qi Xijia | 2022/11/29 18:58:31
  • G20 should be an opportunity for China-India engagement

    If India wants to assure that its G20 presidency will be “inclusive, ambitious, decisive and action-oriented,” the country should have a more positive attitude toward its cooperation and interaction with other G20 members, including China.

    By Hu Weijia | 2022/11/29 0:03:14
  • Cash-strapped developers get access to refinancing

    China's securities regulator announced on Monday the resumption of mergers and acquisitions (M&As) by real estate developers and refinancing by the listed developers, among newly announced five measures that take effect immediately, in an attempt to invigorate the slumped property sector.

    By GT staff reporters | 2022/11/28 23:19:25
  • Chinese companies ramp up for emerging BCI technology, ready for larger market

    China's brain-computer interfaces (BCI) development has gained marked progress, according to an industry insider, as domestic firms continue to churn out products and services in the emerging field that could be worth of trillions of dollars over coming decades.

    By Chu Daye | 2022/11/28 22:27:19
  • Prominent Chinese economists predict more policy support to boost growth

    Some prominent Chinese economists have predicted that China will further step monetary policy support for the economy, after a series of recent government support measures to shore up the world's second-largest economy to ensure growth in a reasonable range.

    By Chu Daye | 2022/11/28 21:03:02
  • China, Germany economic ties are mutually beneficial: spokesperson

    China has been expanding opening-up during the past 40 years, as it is committed to providing foreign investors with a market-oriented, legalized and internationalized business environment, Zhao Lijian, a spokesperson of China's Foreign Ministry, said on Monday.

    By Global Times | 2022/11/28 20:32:29
  • China, S.Korea pursue broader cooperation, technologies, renewable energy highlighted

    China and South Korea recently held a series of economic and trade events recently, from official meetings and investment fairs to people-to-people dialogues. Experts said that the exchanges are necessary and timely amid a gloomy and more uncertain global economic outlook, and will contribute to in-depth cooperation between the two countries and help industrial supply chains stability.

    By Ma Jingjing | 2022/11/28 20:24:11
  • Chinese-built underwater tunnel in Bangladesh, first in S.Asia, partly completed

    The south tube of an underwater tunnel in Bangladesh built by a Chinese company has been completed, which is expected to drive local economic development, regional connectivity and promote the China-proposed Belt and Road Initiative (BRI).

    By Global Times | 2022/11/28 20:04:15
  • China extends tariff exemptions on some US goods in 'reciprocal' move

    China will extend tariff exemptions for six months on some US goods subject to countermeasures against US Section 301 measures, according to an official announcement on Monday, in what analysts call a standard and reciprocal move after the US also announced similar exemptions.

    By Global Times | 2022/11/28 19:39:59
  • Rosbank Capital launches open-ended fund denominated in yuan, HK dollar

    Russia's recent launch of the yuan and Hong Kong dollar denominated open-ended fund is the latest example of the Chinese currency's quickened pace of internalization, in large part because of overseas investors' growing interest in holding Chinese financial assets, experts said.

    By Global Times | 2022/11/28 18:05:37
  • Central Asia natural gas transmission to China surpasses 40bcm year-to-date: report

    China-imported natural gas via China-Central Asia Gas Pipeline has surpassed 40 billion cubic meters as of now in 2022, according to the monitor of West Pipeline Company under the China Oil & Gas Pipeline Network Corporation (PipeChina) in Khorgas City, Northwest China's Xinjiang Uygur Autonomous Regions, China News Agency reported on Monday.

    By Global Times | 2022/11/28 16:22:23
  • Beijing to boost role as national financial management center, as its vast potential highlighted at key forum

    Beijing is eyeing a larger role as the country's financial management center, as the Chinese capital, which hosts its own stock exchange and financial court, seeks to expand its functionality beyond being the national political center, regulatory authorities and financial industry insiders said on Wednesday at the conclusion of a keenly watched financial forum.

    By GT staff reporters | 2022/11/23 21:32:37
  • First all-cargo route opens in China's first professional cargo hub airport

    First all-cargo route opens in China's first professional cargo hub airport

    By Xinhua | 2022/11/28 9:40:03
  • NEV innovation can help sector stay ahead of competition

    Production and sales of new-energy vehicles (NEVs) have soared in China since the beginning of 2022, thanks to the central government's persistent efforts to accelerate high-quality manufacturing and build up the nation's industrial competitiveness in the global marketplace. At the same time, China is committed to green and sustainable development in order to reduce greenhouse gas emissions and lead in the worldwide push to combat climate change.

    By Wen Sheng | 2022/11/27 21:57:14
  • Cultivate for another bumper year

    With winter grain sowing across China surpassing 99 percent of the total, experts said on Sunday that the smooth sowing this season has laid a solid foundation for next year's harvest, contributing to the global food security while facilitating economic growth despite the downward pressure.

    By GT staff reporters | 2022/11/27 21:44:30
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