Economy
Responding to Nvidia chief executive Jensen Huang's describing the island of Taiwan as a “country” during his recent visit there, a spokesperson for the Taiwan Affairs Office of the State Council said on Wednesday that Huang should read up on the history, noting that Taiwan has never been a country and will never be one.
By Global Times | 2024/6/12 13:31:49
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  • China's CPI shows mild rise of 0.3% in May, while PPI falls 1.4%

    China's consumer price index (CPI), the main gauge of inflation, rose by 0.3 percent year-on-year in May, the National Bureau of Statistics (NBS) said on Wednesday, which indicates a steady recovery in domestic demand.

    By Zhang Weilan | 2024/6/12 13:01:36
  • Air China holds culture experience events to celebrate Dragon Boat Festival

    During the three-day Dragon Boat Festival holidays from Saturday to Monday, Air China held special events across multiple airports in China with a theme of experiencing traditional culture and customs, in order to celebrate the festival with passengers.

    By Global Times | 2024/6/11 23:00:37
  • Tourism market to welcome summer peak driven by rising demand

    China's tourism market is expected to welcome a peak this year as the summer vacation is around the corner. Driven by the upward demand, outbound travel is another booming growth force for airlines.

    By Global Times | 2024/6/11 22:21:50
  • Chinese Premier to visit New Zealand, Australia, Malaysia in boost for cooperation

    Chinese Premier Li Qiang will visit New Zealand, Australia and Malaysia starting on Thursday, and he will hold meetings with officials from the three countries, exchange views on bilateral and global issues, and deepen cooperation, the Chinese Foreign Ministry said on Tuesday.

    By Wang Cong, Ma Tong and Xiong Xinyi | 2024/6/11 21:23:44
  • Chinese cities speed up low-altitude economy, a new force driving development

    From modern delivery services to rural agriculture, China's low-altitude economy has emerged as a strategic industry driving innovation and development. Cities across China are offering incentives and making deployments to further develop the potential of the industry, which is expected to reach 2 trillion yuan ($275.7 billion) in 2030.

    By GT staff reporters | 2024/6/11 21:16:20
  • Apple's call recording feature sparks online debate in China

    Apple launched iOS 18 at WWDC24 on Tuesday, introducing call recording and transcription across multiple languages within Apple Intelligence, signaling a strategic move to meet the market demand.

    By Zhang Yiyi | 2024/6/11 21:01:56
  • Chinese FM urges EU to drop EV probe; experts warn of boomerang effect of protectionist policy

    China issued another stern warning to the EU on Tuesday, calling for the timely termination of a probe against Chinese electric vehicle (EV) makers.

    By Chu Daye and Tao Mingyang | 2024/6/11 20:57:51
  • China's first zero-carbon desert highway produces 5m kW green power

    As of Monday, China's first zero-carbon desert highway – the longest photovoltaic (PV) demonstration project for irrigation and sand control at the Tarim Oilfield in the Taklimakan Desert, Northwest China's Xinjiang Uygur Autonomous Region – had generated more than 5 million kilowatts of green electricity, realizing sand control and environmental protection, China Media Group (CMG) reported on Tuesday.

    By GT staff reporters | 2024/6/11 20:49:45
  • China diversifies sources of beef imports

    China has beefed efforts on the diversification of beef imports in 2024, with more exporters in countries such as Australia and Russia having been approved to sell beef to China. Chinese observers said the move will help reduce market fluctuations due to over-reliance on any single market, while providing more opportunities for other countries through high-level opening-up.

    By GT staff reporters | 2024/6/11 20:14:40
  • S.Korea's growing exports to US shouldn't affect its trade with China

    South Korea's exports to the US have surpassed those to China in the first five months of 2024. While increased exports to the US are beneficial to the South Korean economy, this should not in any way affect the normal growth momentum of mutually beneficial economic and trade cooperation between China and South Korea.

    By Wang Yi | 2024/6/11 19:16:29
  • Chinese Premier Li Qiang to visit New Zealand, Australia and Malaysia this month

    China's Foreign Ministry said on Tuesday that Premier Li Qiang of the State Council will pay official visits to New Zealand, Australia and Malaysia from June 13 to 20, to exchange views with the three countries on bilateral relations and regional affairs, aiming to enhance mutual trust and strengthen broad cooperation.

    By Global Times | 2024/6/11 18:31:32
  • Construction of advanced rail infrastructure continues to gain pace across China: state railway operator

    China's state railway operator said it completed fixed-asset investment worth of 228.47 billion yuan during the January-May period, an increase of 10.8 percent from a year earlier, as the construction of a modern rail infrastructure system gains pace.

    By Global Times | 2024/6/11 17:49:27
  • HSBC acquires Citi's retail wealth management business in Chinese mainland

    HSBC said on Tuesday that it has completed acquisition of Citi's retail wealth management business in the Chinese mainland, as the London-based bank is expanding its operations in China's wealth management market, showcasing confidence in the market's growth potential.

    By Global Times | 2024/6/11 15:24:57
  • Fresh progress made in major projects, manufacturing to pave way for sound growth in May: analysts

    A large number of major projects have made fresh progress in recent days, with a demonstrated edge in China's manufacturing capability and capacity, paving the way for the world's second-largest economy to post sound economic data for May, Chinese analysts said on Monday.

    By Chu Daye | 2024/6/10 22:40:37
  • Dragon boat orders boom amid festivities

    As the three-day Dragon Boat Festival holidays, also known as the Duanwu Festival, were celebrated from Saturday to Monday, domestic producers of the dragon boats, the iconic item of the festival, witnessed their robust time of the year, as the festival is often associated with competitive and inclusive dragon boat races.

    By Global Times | 2024/6/10 22:27:58
  • China-Russia fishery conference signals promising prospects

    The inaugural China-Russia fishery industry cooperation conference was held in Northeast China's Heilongjiang Province on Sunday, marking what analysts on Monday said was a significant step forward in bilateral cooperation in the fishery sector.

    By Zhang Yiyi | 2024/6/10 22:04:05
  • China urges EU to handle trade friction through talks, as potential tariffs on Chinese EVs will be 'catastrophic' for the bloc

    Chinese commerce officials have recently held intensive meetings with Chinese enterprises operating in European countries including Spain, Portugal and Greece, calling for China and the EU to accommodate the legitimate concerns of both parties and avoid an out-of-control escalation of trade friction through talks, as the European Commission (EC) is reportedly set to disclose planned tariffs on Chinese electric vehicles (EVs) this week.

    By Ma Jingjing and Ma Tong | 2024/6/10 21:59:57
  • 'Future industries' are the way to weather foreign competition, suppression

    China's Ministry of Industry and Information Technology (MIIT) revealed an initiative in early 2024 to promote fast development of the "future industries" or strategically important emerging industries. Recently, the ministry set up a new administrative body named "Department of Future Industries," which indicates that Chinese policymakers have set their eyes on fostering future-oriented drivers of economic growth.

    By Wen Sheng | 2024/6/10 21:24:05
  • Bustling holiday travel, spending point to continued economic recovery

    China witnessed a sustained tourism boom during the three-day Dragon Boat Festival holidays that ended on Monday, with robust growth in spending and travel, according to data from several online travel platforms on Monday, adding to a growing list of indicators pointing to a continuous recovery of the Chinese economy.

    By GT staff reporters | 2024/6/10 19:41:10
  • Chinese stock exchanges test oversight standards of abnormal program trading: report

    China's three major stock exchanges have reportedly formulated oversight standards targeting abnormal program trading, with trial being conducted internally, as financial regulators strengthen supervision on market trading to support the long-term healthy and sound development of China's capital market.

    By Global Times | 2024/6/9 17:47:10
  • Robust Dragon Boat Festival consumption further fuels China's economic recovery

    As the Dragon Boat Festival, or "Duanwu" Festival kicked off on Saturday, China has seen a robust consumption growth ranging from increasing passenger trips, a strong box office, and spending on festival related products, signaling a continuous rebounding and strong resilience of the world's second-largest economy.

    By Global Times | 2024/6/8 20:06:49
  • Exclusive: Solomon Islands wide open for more Chinese investment in sectors from agriculture to green economy: envoy

    Chinese investments are very important to us and we are wide open for Chinese investment to our country and we encourage more investors from China to settle there, Barrett Salato, Ambassador of the SolomonIslands to China, told GT in an exclusive interview.

    By Global Times | 2024/6/8 16:14:08
  • China's foreign trade in goods from Jan to May totals 17.5 trillion yuan, up 6.3% y-o-y

    China's foreign trade in the first five months of 2024 recorded a yearly increase of 6.3 percent to 17.5 trillion ($2.42 trillion), further consolidating the strong momentum amid the country's steady economic recovery, data from China's General Administration of Customs (GAC) revealed on Friday.

    By GT staff reporters | 2024/6/7 11:47:18
  • CSRC highly values protection for investors caught up in delisting process: official

    The number of companies delisting from the A-share market will not significantly increase as China's new delisting rules set a transitional period period, China's top securities regulator said on Thursday in a statement, noting that it highly values protection for investors caught up in the delisting process while supporting investors to safeguard their own rights through legal measures.

    By Global Times | 2024/6/6 21:21:11
  • Chinese solar firms eye global market despite US tariff barriers

    Chinese companies said they will continue to engage in expanding their global presence despite the US decision to reinstate tariffs on solar products from four Southeast Asian countries. Meanwhile, Chinese experts criticized the US solar tariff decision as counter-productive and one that would backfire.

    By Zhang Weilan | 2024/6/6 20:59:48
  • ECB cuts key interest rates by 25 basis points

    ECB cuts key interest rates by 25 basis points

    By Xinhua | 2024/6/6 20:35:56
  • RCEP promotes regional trade one year in, leads global economy growth

    Multiple Chinese cities recorded strong foreign trade figures with Regional Comprehensive Economic Partnership (RCEP) member countries so far in 2024, as the world's largest trade pact has been fully implemented across all 15 members for a full year

    By Tao Mingyang | 2024/6/6 20:25:12
  • China's travel surge continues as Dragon Boat Festival expected to further stimulate domestic consumption

    China's tourism sector is poised for another travel peak during the upcoming Dragon Boat Festival and summer vacation period, following the resurgence in tourist numbers seen during the May Day holidays. This trend highlights the enduring vitality of China's domestic consumption, laying the groundwork for a full economic recovery this year, experts and industry insiders said.

    By Ma Tong | 2024/6/6 20:03:21
  • China stands ready for greater economic and trade cooperation with Arab states: MOFCOM

    The Ministry of Commerce (MOFCOM) said China is willing to strengthen coordination and cooperation with Arab countries, and jointly promote greater development in China- Arab economic and trade ties.

    By Global Times | 2024/6/6 19:10:51
  • China to take necessary measures to safeguard Chinese firms' rights against EU's trade protectionist acts: MOFCOM

    China will take all necessary measures to firmly safeguard the legitimate rights of Chinese enterprises, China's Ministry of Commerce (MOFCOM) said on Thursday, in response to the EU's multiple trade protectionist measures targeting China, which it said has escalated bilateral trade friction and heavily impacted Chinese firms' confidence in operating business in Europe.

    By Global Times | 2024/6/6 18:37:21
  • US' discriminatory measures targeting Chinese EVs to damage own interests: Chinese FM

    China's Foreign Ministry on Thursday said that the US' discriminatory measures targeting Chinese electric vehicles (EVs) damage the stability of the global supply chain and will eventually backfire on US' own interests, urging the US to create a favorable environment for fair competition for global enterprises.

    By Global Times | 2024/6/6 17:15:35
  • China, UAE move to promote robust cooperation and economic growth in the new era

    The 40th anniversary of the establishment of diplomatic relations between the United Arab Emirates (UAE) and the People's Republic of China is an opportunity to reflect on all that has been achieved while confidently looking forward to the future accomplishments our partnership promises to bring.

    By Hussain bin Ibrahim Al Hammadi | 2024/6/6 15:44:25
  • St. Petersburg International Economic Forum kicks off, with focus on China-Russia cooperation

    The 27th St. Petersburg International Economic Forum (SPIEF) opened on Wednesday with the participation of delegates from 139 countries and regions, the Xinhua News Agency reported. With China-Russia economic cooperation on the rise, the SPIEF is set to boost bilateral investment and trade, experts said.

    By Global Times | 2024/6/6 3:43:43
  • Chinese civilian drone completes landmark high-altitude transport test on Mount Qomolangma

    A Chinese drone company has announced a landmark achievement of the first-ever drone delivery test on Mount Qomolangma from the Nepali side, marking the world's first round-trip high-altitude flight by a civilian cargo drone in the area. Such flights could offer crucial support for rescue operations and material transportation in high-altitude areas.

    By Global Times | 2024/6/6 3:41:14
  • Exclusive: Brazil-China cooperation shows high synergy with huge potential for future collaboration: official

    There are many areas of synergy between China and Brazil in their respective development plans, and potential for more bilateral economic and trade cooperation, Chief of Staff of the Presidency of Brazil Rui Costa told the Global Times in an exclusive interview in Beijing on Wednesday.

    By Yin Yeping | 2024/6/6 1:27:15
  • China rolls out test scheme for autonomous vehicles on public roads

    China's Ministry of Industry and Information Technology (MIIT) on Tuesday announced approval for the first batch of Chinese automobile manufacturers to test automated driving technology on public roads, in the latest move to promote the high-quality development of the intelligent connected vehicle industry.

    By Zhang Weilan | 2024/6/6 1:08:59
  • GT Voice: Cooperation a balm amid Japanese car firms' test scandal

    A safety test scandal at several top Japanese automakers has generated turbulence. In a fully competitive market, the effects of the scandal have quickly expanded. The case has set off an alarm bell for automakers, that any mistake will be costly amid fierce competition.

    By Global Times | 2024/6/5 23:45:35
  • EU postpones decision on Chinese EVs, showing internal division

    The European Commission has apparently postponed the announcement of findings of and potential measures resulting from its so-called anti-subsidy investigation into Chinese electric vehicles (EVs), which were reportedly due to be announced on Wednesday, offering a brief breathing room for rapidly escalating trade tensions between two of the world's biggest traders.

    By Wang Cong and Ma Tong | 2024/6/5 22:37:04
  • Senior officials promote stronger China-Brazil industry ties to pursue high-quality development

    Senior officials from China and Brazil vowed to deepen bilateral cooperation across various industries at the Brazil-China Business Seminar, a high-level forum, held in Beijing on Wednesday, amid the ongoing visit of Brazil's vice president to China and as the two countries celebrated the 50th anniversary of diplomatic relations this year.

    By Yin Yeping | 2024/6/5 22:06:45
  • CPEC upgrade to improve livelihoods, regional connectivity: analysts

    The development and upgrading of the China-Pakistan Economic Corridor (CPEC) has great prospects, especially in terms of providing more benefits to livelihoods and boosting regional connectivity, Chinese experts and corporate representatives said on Wednesday.

    By GT staff reporters | 2024/6/5 21:43:30
  • AI improves cybersecurity by tens to thousands of times, international cooperation urged: insiders

    Artificial intelligence (AI) has improved the ability of cyber protection by tens or even thousands of times, industry insiders said during a cybersecurity conference that kicked off in Beijing on Wednesday. They also stressed that cyberattacks happen globally, and international cooperation is urged.

    By GT staff reporters | 2024/6/5 21:32:09
  • Global financial institutions speed up investment in China

    Qatar's sovereign wealth fund has reportedly agreed to purchase a 10 percent stake in China Asset Management Co (ChinaAMC), the country's second-largest mutual fund firm, as international financial institutions have stepped up holding of yuan assets amid the rapid recovery of Chinese economy and growing risks in the US financial market.

    By Ma Jingjing | 2024/6/5 21:24:42
  • China leads global fight on climate change through innovation, free trade, fair competition

    China's vision and courage to invest early and heavily on green renewable energy solutions, typically EV batteries, high-quality solar cells and wind turbines, and advanced high-speed train systems, have helped pave the foundation for its present-day edge in leading the green and renewable tech solutions in the world.

    By Wen Sheng | 2024/6/5 21:04:07
  • Brazil's sugarcane offers glimpse into 'secret recipe' for China's auto exports

    Chinese automakers can adapt to Brazil's needs, showing their efficiency and flexibility. Washington's narrative claiming that Chinese companies gain advantages through government subsidies is far from the truth.

    By Hu Weijia | 2024/6/5 20:34:36
  • Exclusive: China-Brazil relations 'close, complementary, integrated': NDB head

    China and Brazil have built a close relationship in the past five decades that is "complementary and integrated" in multiple economic fronts, Dilma Rousseff, the chair of the New Development Bank and former president of Brazil, told the Global Times in an exclusive interview.

    By Li Xuanmin | 2024/6/5 19:00:47
  • GraphicAnalysis: Foreign capital inflows to China amid positive outlook, as targeted policies take effect

    The A-share market and the Hong Kong stock market have been rebounding since mid-April following the implementation of “the State Council's Nine-Point Guideline," which was released by China's State Council specifically for the development of the capital market. Amid China's increased efforts to bolster capital development on top of the continuous policy support for sustaining its growth, overseas investors have also been eyeing to share the dividends of the country's bright economic prospects with significantly enhanced deployment in the Chinese market.

    By Global Times | 2024/6/5 18:53:46
  • 'Decoupling' unrealistic for China, SE Asia's solar sectors despite US protectionist push

    The US' duty-free tariff treatment for solar power items from Cambodia, Malaysia, Thailand and Vietnam will end as scheduled on Thursday, according to an announcement by the White House in May. The move is seen by some as the latest sign that the US may expand its crackdown on the photovoltaic (PV) industry from China to Southeast Asian countries.

    By Hu Weijia | 2024/6/5 15:06:26
  • China's services activity in May accelerates at quickest pace in 10 months, driving up employment

    The Caixin China General Services Purchasing Managers' Index (PMI) came in at 54 in May, expanding for the 17th consecutive month and reaching its highest level since August 2023, while employment expanded for the first time since January, according to a private sector survey released by Caixin on Wednesday.

    By Global Times | 2024/6/5 15:01:18
  • 'Protectionism is not a solution, but a dangerous dead end': MOFCOM

    Senior Chinese trade officials warned on Tuesday that protectionism is not a solution, but a dangerous dead end, in a response to the recent anti-subsidy investigation by the EU into Chinese EVs, highlighting that China is open to dialogues with Europe for fair competition and better economic ties.

    By Global Times | 2024/6/5 11:51:07
  • Building China-Serbia community with shared future presents numerous opportunities: former Serbian president

    China is a huge country, while #Serbia is very small and geographically distant. However, we are comprehensive strategic partners and very good friends, and under the BRI, the future will be even brighter for China-Serbia ties: former Serbian President

    By Global Times | 2024/6/5 10:32:07
  • China's top political advisory body holds meeting on high-level socialist market economy

    China's top political advisory body on Tuesday opened the seventh session of its standing committee in Beijing, which focuses on consultations and discussions on building a high-level socialist market economy.

    By Wang Cong, Qi Xijia and Ma Tong | 2024/6/4 22:15:54
  • Wholesale volumes of new-energy passenger car makers expand in May thanks to trade-in policy

    China's new-energy passenger car manufacturers sold 910,000 units through wholesale channels in May, up 35 percent year-on-year and 16 percent from a month earlier, data from the China Passenger Car Association (CPCA) showed on Tuesday.

    By Global Times | 2024/6/4 22:06:56
  • Pragmatic approach crucial for Australia to develop its rare-earth industries

    It is regrettable that there are media reports claiming that Australian Treasurer Jim Chalmers has ordered five international companies linked to China to divest their shares in a strategically crucial heavy rare earths project in the Oceanian country.

    By Hu Weijia | 2024/6/4 22:01:19
  • EU urged to meet China halfway, address each other's concerns through dialogue

    Europe's anti-subsidy investigation into China's electric vehicles (EVs) on the grounds of "excessive industrial capacity" is a typical case of trade protectionism, China's Minister of Commerce (MOFCOM) Wang Wentao said on Monday, while calling on both sides to address each other's concerns through dialogue and communication.

    By GT staff reporters | 2024/6/4 21:58:02
  • Washington's tariff hikes on Chinese new-energy products doomed to isolate itself from the global market: Chinese economist

    US President Joe Biden has slapped major tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment. One of the reasons the US gave in the context of "overcapacity" to justify the tariffs are all superficial, and there's no need to spend too much effort on them. They talk about overcapacity, but why don't they mention the overcapacity in their own chip industry?

    By Ju Jiandong | 2024/6/4 21:35:27
  • China's policy support to speed up overseas warehouse construction, boost cross-border e-commerce

    The Ministry of Commerce (MOFCOM) will announce policies to accelerate the construction of overseas warehouses to enhance China's cross-border e-commerce sector, the People's Daily reported on Tuesday.

    By GT staff reporters | 2024/6/4 21:05:41
  • More humanoid robots now work on auto assembly lines in China, enhancing efficiency

    A Chinese humanoid robot company announced it will deploy humanoid robots in an automobile factory, the company told the Global Times on Tuesday, marking a further maturation of China's humanoid robot technology in aiding the manufacturing sector.

    By Zhang Yiyi | 2024/6/4 19:05:12
  • China's summer grain harvest heats up, bolstered by tech innovations

    China's wheat harvest in major grain-producing provinces is gaining momentum, driven by advanced agricultural technology. More than 40 percent of the harvest across the country has been completed to date, according to official data.

    By Ma Tong | 2024/6/4 18:39:23
  • US dollar has become increasingly 'toxic and weaponized': Russian economist

    China and Russia should “team up to reduce reliance on the US dollar,” further explore integration in their financial infrastructure and expand currency settlement cooperation, as the US dollar has become increasingly “toxic and weaponized,” a Russian economist told the Global Times in an interview.

    By Zhang Weilan | 2024/6/4 17:32:26
  • US expert's blunt call to 'steal' China's EV technologies is of skewed mentality: observers

    While publicly acknowledging that the US' electric vehicle (EV) industry is far behind China now, an expert from a US think tank suggested recently that the US attract Chinese EV makers to produce in America, and “steal their intellectual property.”

    By Ma Jingjing | 2024/6/4 13:29:51
  • More high-speed trains planned between Chinese mainland and Hong Kong starting June 15

    More high-speed trains operating between Chinese mainland and Hong Kong Special Administrative Region (HKSAR) will be launched starting June 15, 2024, with shortened transportation time which will further facilitate the cross-boundary travel and better integrate Hong Kong into China's overall development.

    By Global Times | 2024/6/4 12:25:30
  • China allocates $889m for auto trade-ins, in latest move to boost consumption

    China has allocated hundreds of millions of dollars for automobile trade-ins in 2024, according to media reports on Monday, in another major step to boost auto consumption, with sales of electric vehicles (EVs) expected to receive a major boost.

    By Global Times | 2024/6/4 1:47:11
  • Indonesia targets million-plus Chinese visitors in 2024

    Indonesia is working hard to market itself as an attractive destination for Chinese tourists, and is hoping to draw 1 to 1.5 million Chinese visitors in 2024, the Indonesian Ministry of Tourism and Creative Economy (MOTCE) said on Monday.

    By Huang Lanlan in Shanghai | 2024/6/4 1:43:39
  • 'Overcapacity' claims show typical Western double standards, but will not stop China's rise: Brazilian scholar

    In an interview with Global Times reporter Ma Tong (GT), Marco Fernandes, a Brazilian political commentator and scholar, discussed the promising aspects of China's economic landscape, as well as the unjustified crackdowns by the US and the so-called "overcapacity" fallacy.

    By Global Times | 2024/6/4 1:27:04
  • China's experience in renewable energy helps boost Arab countries' green devt

    Most people will be very interested to know the commercial ramifications of future cooperation between China and Arab League countries. The first focus is on how to give vitality to innovation in various sectors like life sciences, AI, green technology and so on that would be beneficial to the next generation and future generations of China and Arab League countries.

    By Charles Liu | 2024/6/3 23:04:07
  • Chinese officials urge EU to avoid protectionist actions

    Chinese officials have repeatedly urged Brussels to avoid taking protectionist actions against Chinese electric vehicles (EVs), warning such actions could lead trade frictions to spiral out of control and stressing China's rights and capabilities to take countermeasures if the EU takes any action that harms Chinese interests.

    By Wang Cong and Tao Mingyang | 2024/6/3 22:42:31
  • India may require Chinese firms to reduce JV stakes

    The Indian government may require more Chinese companies to reduce their stakes in joint ventures (JVs) in the country, according to Indian media reports. Experts said that such a hostile move won't do much to improve the gloomy business climate for foreign investors, especially those from China.

    By Global Times | 2024/6/3 22:24:23
  • Bank of China's branch in Serbia clears first transaction, boosting bilateral trade

    Bank of China's Yuan Clearing Bank in Serbia officially went into operation on Monday and successfully handled its first cross-border yuan remittance, in another boost for bilateral economic and trade cooperation between China and Serbia, the bank said on Monday.

    By Global Times | 2024/6/3 22:06:05
  • Foreign investors accelerate layouts in Central China for strategic location, rising consumer market

    The 13th Central China Investment and Trade Exposition (Expo Central China), held in Changsha, capital of Hunan Province from Friday to Sunday, attracted more than 1,000 companies from 32 countries and regions. Attendees signed 284 deals, amounting to combined investment of 251.14 billion yuan ($34.65 billion).

    By GT staff reporters | 2024/6/3 21:43:00
  • China's EV market demonstrates strength amid typically weak demand periods, bolstered by policy support

    Multiple Chinese electric vehicle (EV) enterprises reported an increase in sales during May, reflecting the remarkable performance of nation's EV production and demand amid annual weak consumption period.

    By Global Times | 2024/6/3 21:36:39
  • Private-sector manufacturing activity growth fastest in 2 years in May; stability 'expected' for Q2

    The Chinese economy is expected to post steady gains in the second quarter, with GDP growth on par with the first quarter of about 5.3 percent, analysts said on Monday after the release of statistics signaling an upward trajectory.

    By Chu Daye | 2024/6/3 21:06:37
  • Hong Kong's economy expected grow 2.5-3.5% this year: financial chief

    The economy of the Hong Kong Special Administrative Region (HKSAR) is expected to sustain its growth for the rest of 2024 with favorable factors. The city's GDP growth is expected to reach 2.5-3.5 percent, Hong Kong Financial Secretary Paul Chan Mo-po said on Monday.

    By Global Times | 2024/6/3 20:37:12
  • China embraces new travel options, rise in outbound tourism ahead of Dragon Boat Festival

    As the traditional Dragon Boat Festival draws near, new options represented by "new Chinese-style travel" and outbound tourism are gaining popularity, driving new consumption demand in both the Chinese and global tourism markets.

    By Zhang Weilan | 2024/6/3 14:37:24
  • Chinese vice commerce minister urges EU to avoid moves that may escalate trade tensions

    China hopes that the EU can match words with deeds by avoiding a trade war with China or take other moves which may escalate trade tensions, and if the European side continues to crack down on Chinese companies, China has the right and capability to take measures to safeguard their legitimate interests and maintain balance of China-EU economic and trade relations, Vice Minister of Commerce Ling Ji said on Sunday.

    By Global Times | 2024/6/3 13:05:41
  • China's private manufacturing PMI reaches 51.7 in May, highest since 2022 July

    China's private purchasing managers index (PMI) for the manufacturing sector released by Caixin hit 51.7 in May 2024, the highest level since 2022 July, which is 0.3 percentage point higher than April, indicated gains in vitality across nation's massive small and middle-size manufacturing firms.

    By Global Times | 2024/6/3 11:39:35
  • Gansu Provincial Museum accuses Pizza Hut of IP infringement

    The Gansu Provincial Museum in Northwest China's Gansu Province recently released a notice through its official accounts on social platforms such as Sina Weibo noting that one of its cultural products has been involved in an intellectual property (IP) dispute.

    By GT staff reporters | 2024/6/3 3:51:20
  • EU urged to provide friendlier business environment for Chinese firms as China's carmaker shuts Europe headquarters amid intensified atmosphere

    The overall confidence of Chinese enterprises in the European business environment has been diminished, with the EU intensively adopting unilateral measures such as probes under the EU Foreign Subsidies Regulation (FSR), the China Chamber of Commerce to the EU (CCCEU) said on Sunday, expressing concern about the intensified situation for Chinese companies in the bloc.

    By GT staff reporters | 2024/6/2 22:12:10
  • US economy's conundrum on home court – housing prices, inflation top agenda

    The American housing market is experiencing rising rents and elevated mortgage rates, which are constantly driving up home prices, leaving the younger generation feeling disillusioned and in peril as their dream of owning a home fades further away.

    By Global Times | 2024/6/2 21:28:01
  • Boeing resumes deliveries to China, prioritizes Chinese market: Boeing China President

    Boeing China President Alvin Liu said during a media interview on Thursday that Boeing has now resumed the delivery of its new aircraft to China, including the 737MAX and 787 Dreamliner. He noted that the company consistently prioritized the Chinese market and highlighted the significant potential for cooperation between Boeing and Shenzhen, South China's Guangdong Province in low-altitude logistics, according to Shenzhen TV reports.

    By Global Times | 2024/6/2 21:10:44
  • China-built C919 completes 1st cross-boundary commercial charter flight

    The first cross-boundary commercial charter flight served by the China-built large aircraft C919 landed in Shanghai on Saturday, a huge step in the C919's commercialization.

    By Global Times | 2024/6/2 20:45:22
  • China adopts new law to fortify food security

    China's food security law took effect on Saturday, as the country steps up efforts to ensure the supply of grain and related products to fend off food security risks, while safeguarding economic and social stability and national security.

    By GT staff reporters | 2024/6/2 20:37:03
  • US lawmakers request briefing on biotech firm's ties to China, a move to disrupt global drug development

    US lawmakers have requested a briefing on a biotechnology firm's connections to China, as the crackdown on Chinese biotech industry intensifies and the bilateral rivalry extends into the biotech industry.

    By Qi Xijia | 2024/6/2 20:30:20
  • Chinese scientists unveil low-power neuromorphic 'brain-like' chips

    A Chinese scientific team has developed a new 'brain-like' chip that operates on reduced energy consumption, marking a significant advance in China's chip manufacturing technology.

    By GT staff reporters | 2024/6/2 18:53:45
  • Third UK-China Business Leaders Summit highlights mutual goodwill and cooperation

    The Third UK-China Business Leaders Summit, a key event aimed at strengthening economic cooperation between China and the UK, concluded successfully in London. Held from May 27 to 29, the summit gathered over 400 entrepreneurs, policymakers, and scholars to explore diverse areas of Sino-British collaboration.

    By Global Times | 2024/6/2 7:26:31
  • Early results of 618 festival signal robust consumption outlook

    Chinese e-commerce platforms on Saturday unveiled positive early sales data for the 618 shopping festival, China's largest online shopping event after the "Double 11" shopping festival, which experts said serves as an important window to the role of e-commerce platforms in driving the real economy.

    By Global Times | 2024/6/1 16:59:18
  • China can seize AI opportunity despite US restrictions: expert

    China has an opportunity to spur development amid the current wave of new artificial intelligence (AI) technology across the world, Li Yaping, president of the China Association for Mechatronics Technology and Application, told the Global Times in Wuhu, East China's Anhui Province during the 14th China International Robot Summit Forum and the 10th Capek Award Ceremony, which concluded on Friday.

    By Leng Shumei in Wuhu | 2024/6/1 1:49:02
  • Big challenges remain despite rapid progress in humanoid robot development: experts

    Practicing Tai Chi like a playful puppy, smoothly hitting ping pong balls, and drawing with precision... a variety of robots showcased their skills and attracted the attention of visitors during the 14th China International Robot Summit Forum and the 10th Capek Award Ceremony in Wuhu, East China's Anhui Province, which ran from Wednesday to Friday.

    By Leng Shumei in Wuhu | 2024/6/1 1:29:27
  • Xinjiang continues to improve rail efficiency to better serve China's high-quality opening-up

    At the foot of the Tianshan Mountains, a number of large trucks carrying steel coils wait in a long line to enter the Urumqi International Land Port Area in Northwest China's Xinjiang Uygur Autonomous Region. On the ground on either side of the trucks, there are containers filled with goods from all over the country.

    By Liu Yang and Zhao Juecheng in Urumqi | 2024/6/1 0:58:40
  • China, UAE tighten collaboration in new-energy sectors, indicating 'overcapacity' a false narrative: Chinese experts

    Representatives of participating companies and investors attending the United Arab Emirates (UAE)-China Business and Investment Forum in Beijing on Friday witnessed economic and trade ties between the two countries getting closer, and said China's booming new-energy industry is a boon for the Arab nation.

    By Zhang Weilan | 2024/5/31 22:59:41
  • China's securities watchdog imposes record fine on Evergrande for 'fraud' in stern warning to violators

    China's top securities regulator fined Evergrande Group 4.175 billion yuan ($587.67 million) for fraudulent bond issuance and information disclosure violations, while imposing a lifetime ban on Hui Ka Yan, also known as Xu Jiayin, the founder of the real estate developer, from the securities market together with a fine of 47 million yuan, China Securities Regulatory Commission (CSRC) said on Friday in a statement.

    By GT staff reporters | 2024/5/31 22:50:25
  • Chinese mainland ends tariff concessions on 134 Taiwan imports, as DPP undermines cross-Straits trade

    The Chinese mainland will suspend tariff concessions on 134 import items from the island of Taiwan starting in mid-June, and the Democratic Progressive Party (DPP) authorities bear full responsibility for the move, as it has long imposed unilateral trade restrictions on mainland exports, mainland authorities said on Friday.

    By Wang Cong and Liu Caiyu | 2024/5/31 22:17:27
  • Chinese private rocket firm completes milestone launch

    Chinese private rocket startup Galactic Energy Co announced Friday that its solid-fueled launch vehicle Ceres-1 Y12 has successfully launched into the space, carrying five satellites into an orbit 535 kilometers above the Earth.

    By Global Times | 2024/5/31 19:11:31
  • DPP authorities should bear full responsibility for mainland's tariff measure: ministry

    The Democratic Progressive Party (DPP) authorities should bear full responsibility for mainland's suspension of Economic Cooperation Framework Agreement (ECFA) tariff rates for 134 imported products from the Taiwan island, a Ministry of Commerce spokesperson said on Friday.

    By Global Times | 2024/5/31 14:31:22
  • China's enterprise production continues to recover as May's comprehensive PMI remains above 50: NBS

    China non-manufacturing purchasing managers' index (PMI) and the comprehensive PMI remained above expansion territory in May, indicating that China's overall economic output continued to expand while enterprise production and business activities have maintained the recovery momentum, according to data released by the National Bureau of Statistics (NBS) on Friday.

    By GT staff reporters | 2024/5/31 12:31:30
  • Presidential visit sends positive signal to investors in China, UAE: chamber head

    The visit of President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan to China underscores the importance both countries place on deepening economic ties and will send a positive signal to investors and businesses in both nations, encouraging further bilateral trade and investment, Zhang Tianze, secretary general of the UAE-China Chamber of Commerce (UECN), told the Global Times in an exclusive interview on Thursday.

    By Yin Yeping | 2024/5/31 1:11:47
  • Chinese cities launch auto trade-in programs to invigorate consumption, offering boost for new-energy vehicle sector

    Hangzhou, the capital of East China's Zhejiang Province, unveiled an action plan on Thursday to boost consumption via automobile trade-ins. The plan set an ambitious target of exchanging 80,000 vehicles by 2027, which will help to achieve new energy vehicle (NEV) penetration of over 50 percent.

    By Global Times | 2024/5/31 0:17:54
  • Efforts to boost EVs signal China's determination to advance emission reduction

    While recent weeks seem to have been dominated by the stepped-up rhetoric of trade tensions and news about protectionist tariffs imposed by the US on electric vehicles (EVs) made in China, there's no doubt that China's new-energy manufacturing industries won't stop moving forward.

    By Hu Weijia | 2024/5/30 23:13:40
  • First car exports

    The first batch of 104 China-made cars is transported by barge from Heihe port in Northeast China's Heilongjiang Province to Blagoveshchensk in Russia on May 30, 2024. It marks the official start of bulk exports of T77 model cars from Heihe, a breakthrough in the introduction of new types of export cargo through the port. Photo: VCG

    By Global Times | 2024/5/30 23:10:33
  • China's central bank vows to speed up yuan internationalization, high-level financial opening-up

    The People's Bank of China (PBC), China's central bank, has vowed to further strengthen coordination between the yuan and foreign currencies and improve basic institutional arrangements for the cross-border use of the yuan, in a bid to accelerate the internationalization of the yuan and enhance the high-level opening-up of the financial sector, according to a report released on the official website of the PBC on Thursday.

    By Global Times | 2024/5/30 23:02:18
  • China grants private aerospace firm license for satellite constellation radio business

    China's Ministry of Industry and Information Technology announced on Thursday the granting of a license for space radio business via satellite constellation to Beijing-based commercial aerospace firm Guodian Gaoke, after it sent four satellites into orbit on Wednesday. The move will further support the nation's commercial aerospace development.

    By Tao Mingyang | 2024/5/30 22:35:43
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