Economy
Amid a global low-carbon transition and ramped-up efforts for combating climate change, green development has become a focal point for the Boao Forum for Asia (BFA) Annual Conference 2024 in South China's Hainan Province from Tuesday to Friday, with a spotlight on the China-proposed Belt and Road Initiative (BRI) and its efforts to bolster the sustainable development for partner countries.
By Xiong Xinyi in Boao | 2024/3/28 23:40:21
MORE
  • Near-zero carbon living comes true in Hainan's Boao, providing model for green development

    Photovoltaic (PV) tiles on the ground, zero-carbon coffee kiosks, flower-shaped wind energy collectors, a spinning bike that charges your phone while you ride, as well as many other emission-reduction technologies and innovations were seen by the Global Times at the Boao Forum for Asia (BFA) Annual Conference in South China's Hainan Province. The dream-come-true near-zero carbon lifestyle provides the world with a model for green development.

    By Ma Mengyang in Boao and Ding Yazhi in Beijing | 2024/3/28 22:19:46
  • Chinese modernization to inject strong impetus into world economy, top legislator says at Boao Forum

    China's top legislator Zhao Leji on Thursday reaffirmed China's commitment to continuously opening up its market to the world. He said that Chinese modernization through high-quality development will inject strong impetus into the global economy during a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference.

    By Wang Cong and Xiong Xinyi in Boao | 2024/3/28 22:10:55
  • China biggest contributor of green technologies: WIPO chief

    China has not only become the world's top filer of patent applications but also the top contributor of green technologies to the World Intellectual Property Organization (WIPO)'s green technology sharing platform, the head of the WIPO said on Thursday.

    By Wang Cong in Boao | 2024/3/28 22:07:30
  • Japan's renewed airliner ambitions may have regional spillover effect

    Japan aims to develop a next-generation passenger aircraft by around 2035, with a plan to mobilize a combined 5 trillion yen ($33 billion) in public and private investment over the next 10 years, Kyodo News reported on Wednesday.

    By Hu Weijia | 2024/3/28 22:04:42
  • Shanghai, Beijing, other cities improve foreigners' payment service

    Major Chinese cities like Beijing and Shanghai have stepped up efforts to improve means of payment for foreign travelers, a move to promote inbound tourism and high-level opening-up.

    By GT staff reporters | 2024/3/28 21:35:44
  • China cancels tariffs on wine from Australia as bilateral relations improve

    China's Ministry of Commerce (MOFCOM) announced on Thursday a decision to cancel anti-dumping and anti-subsidy tariffs levied on Australian wine, effective on Friday.

    By Qi Xijia, Xiong Xinyi and Ma Jingjing | 2024/3/28 21:24:43
  • Foreign executives, officials bullish on Chinese economy in Boao, denying 'Peak China' rhetoric

    During a panel discussion at the Boao Forum for Asia (BFA) Annual Conference, executives from foreign-funded enterprises and officials from international institutions said they remained bullish on China's economic growth in 2024, noting that innovation, consumption and green development will constitute a new China story.

    By GT staff reporters | 2024/3/28 21:23:24
  • China's commitment to innovation shines bright on quality development: Nobel laureate Edmund Phelps

    Currently, innovation from the US is much less than it was in the past, and there is almost no innovation coming from Europe. Therefore, China can become a major source of global economic innovation. This is a valuable opportunity for China to become a major leader in innovation.

    By Global Times | 2024/3/28 21:03:46
  • China Mobile pioneers commercial deployment of 5G-A network

    China accelerates telecommunication innovation with the commercial deployment of 5G-Advanced (5G-A) network, revealing plans to establish the world's largest 5G-A commercial network. It is part of the country's latest efforts in advancing its internet infrastructure and propelling innovation.

    By Global Times | 2024/3/28 20:12:43
  • Netherlands softens tone over ASML sales to China

    The Dutch government has softened its tone over controls on exports of lithography machines by Dutch companies to China, as the Netherlands seeks to keep ASML in the country and expand cooperation with China, despite pressure from the US government to stymie China's technology rise.

    By GT staff reporters | 2024/3/28 19:46:49
  • US should play a responsible role in ensuring stable, smooth new-energy supply chain: FM spokesperson

    Ensuring a stable and smooth global supply chain serves the interests of all, and is a responsibility that should be shared by all parties, including the US, a Chinese Foreign Ministry spokesperson said on Thursday, in response to comments made by US Treasury Secretary Janet Yellen on Chinese new-energy products.

    By Chu Daye | 2024/3/28 18:58:39
  • 'Choosing China means choosing opportunities, and investing in China means investing in the future': MOFCOM

    “Choosing China means choosing opportunities,” He Yadong, spokesperson of Ministry of Commerce (MOFOCM) said on Thursday, when asked about the recent surge of visits by global CEOs to the country.

    By Global Times | 2024/3/28 18:42:50
  • Well calibration of fiscal, monetary policies to ensure 5% GDP growth in China

    A well-calibrated fiscal and monetary policy combination, being crafted and orchestrated by Chinese government, will help resolve the intrinsic problems hidden in China's economy. An aggressive fiscal stimulus, coupled with proactive while prudent monetary policy, is generally thought to provide the economy with sustainable energy, shepherding it to grow by around 5 percent in 2024.

    By Wen Sheng | 2024/3/28 17:24:51
  • IDC: China's GenAI sector investment surges, projected to reach $13 billion by 2027

    Driven by rapid technological advancement, China is expected to see a compound annual growth rate (CAGR) of 86.2 percent for generative artificial intelligence (AI) investment between 2022 and 2027, according to a newly released report from Research firm IDC, showcasing the robust prospects of the country's high-tech sector.

    By Global Times | 2024/3/28 16:47:56
  • China decides to remove tariffs on Australian wine, starting from Friday

    China's Ministry of Commerce (MOFCOM) announced on Thursday a decision to cancel anti-dumping and anti-subsidy tariffs levied on Australian wine, effective from Friday.

    By Global Times | 2024/3/28 15:45:37
  • China announces an end to anti-dumping and anti-subsidy tariffs on Australian wine

    China announces an end to anti-dumping tariffs on Australian wine: MOFCOM

    By Global Times | 2024/3/28 15:29:18
  • At Boao forum, top Chinese legislator reaffirms openness, as world leaders applaud China's global contributions

    China's top legislator Zhao Leji on Thursday reaffirmed China's commitment to continuously opening up the market for the world and said that Chinese modernization through high-quality development will inject strong impetus into the global economy, during a keynote speech at the opening sesssion of the Boao Forum for Asia (BFA) Annual Conference.

    By Wang Cong in Boao | 2024/3/28 13:30:41
  • Chinese Commerce Minister calls for Netherlands to maintain regular lithography machine trade for healthy development of bilateral trade ties

    The Chinese side considers the Netherlands a reliable trade partner and hopes the Netherlands can uphold the spirit of contract to support companies fulfill contract obligations to ensure the regular trade of lithography machines, Chinese Commerce Minister Wang Wentao said while meeting visiting Dutch Trade Minister Geoffrey van Leeuwen in Beijing on Wednesday.

    By Global Times | 2024/3/28 10:27:48
  • China continues to lead in comprehensive trust index among all surveyed countries: report

    A joint report released on Wednesday showed that China continues to lead in the comprehensive trust index, ranking first among all countries surveyed.

    By Global Times | 2024/3/28 10:16:19
  • Chinese companies set new digging record in tunnelling projects in Nepal

    Efforts are being made in the building of long tunnels in the Himalayan region, with Chinese companies setting a record by digging 1,503.3 meters of tunnel in a month at the Sunkoshi Marin Diversion Project in Sindhuli, Nepal, the Science and Technology Daily reported on Tuesday.

    By Global Times | 2024/3/28 1:35:52
  • Trade with China mainly settled in yuan, rubles: Russian deputy PM

    About 92 percent of trade settlement between Russia and China is now conducted in Russian rubles and Chinese yuan, Russian Deputy Prime Minister Alexei Overchuk said on Wednesday at the ongoing Boao Forum for Asia in South China's Hainan Province.

    By Global Times | 2024/3/28 1:07:50
  • Why is China's support for NEVs different from discriminatory US moves?

    China has filed a complaint at the World Trade Organization (WTO) over discriminatory subsidies on new-energy vehicles (NEVs) under the US Inflation Reduction Act (IRA). When reporting on China's actions, some Western media outlets made a special mention of how China is now accused of "providing subsidies to the NEV industry," too. It seems worthwhile to clarify the difference between China's support for its renewable energy sectors and discriminatory US subsidies for NEVs.

    By Hu Weijia | 2024/3/28 0:01:25
  • CRRC's withdrawal from Bulgaria bid shows rising EU protectionism: CCCEU

    Chinese train maker CRRC's withdrawal from a Bulgarian train tender adds to the evidence suggesting the EU side has wielded the Foreign Subsidies Regulation (FSR) as a new tool to deter foreign companies, coercing them into withdrawal and subsequent business exclusion, the China Chamber of Commerce to the European Union (CCCEU) said on Tuesday.

    By Global Times | 2024/3/27 22:47:57
  • Debunking flawed Western narrative – 'China's economy peaks'

    Observing the theme of high-quality development in the Chinese economy, one should not only look at the size, but also the quality. Combining growth data and efficiency data from recent years, the Chinese economy has not peaked at all, but has achieved a qualitative and effective improvement while overcoming many difficulties.

    By The Economic Daily | 2024/3/27 22:38:27
  • AI remains key engine for boosting China's development in new quality productive forces: experts

    China's technological development in the field of artificial intelligence (AI) has been rising rapidly amid its efforts to develop new quality productive forces, with some of the Chinese models being comparable to GPT-4 in some ways, top global experts and industry players said on Wednesday at the ongoing Boao Forum for Asia Annual Conference 2024.

    By GT staff reporters in Boao | 2024/3/27 22:37:57
  • China, Australia almost perfect partners: Australian CEO

    China and Australia are almost the perfect partners, with the Chinese market to benefit the Australian public especially amid improved bilateral ties, Fortescue Metals CEO Dino Otranto told the Global Times on Wednesday in an exclusive interview on the sidelines of the Boao Forum for Asia Annual Conference 2024.

    By Xiong Xinyi in Boao | 2024/3/27 22:32:42
  • At Boao Forum, Asian central bank officials eye greater use of local currencies to fend off risks

    Central bank officials and financial regulators from several Asian countries on Wednesday called for expanding currency swap arrangements through both bilateral and multilateral mechanisms to support cross-border trade and investment and reduce reliance on the US dollar, as part of the region's efforts to bolster financial safety nets and fend off risks.

    By Wang Cong and Xiong Xinyi in Boao | 2024/3/27 21:40:58
  • China has not collapsed in past because of 'China collapse' theory; it will not peak now because of 'Peak China' rhetoric: Xi

    China's development has gone through all sorts of difficulties and challenges to get to where it is today. It has not collapsed in the past because of the “China collapse” theory, and it will not peak now because of the “Peak China” rhetoric, Chinese President Xi Jinping said on Wednesday.

    By Global Times | 2024/3/27 21:28:52
  • China commends Mexican president's remarks on maintaining friendly, mutually beneficial ties with China

    The Chinese Foreign Ministry on Wednesday commended Mexican President Andres Manuel Lopez Obrador's remarks that Mexico doesn't want a trade war with China.

    By Global Times | 2024/3/27 21:06:40
  • Beijing loosens housing policy, removing block on divorced homebuyers

    Beijing has further loosened the city's housing policy, with a former measure that restricts certain people from buying new homes in the city nullified on Wednesday, according to the latest information on the city's official website for housing on Wednesday. This is among national loosing policies on the real estate sector to encourage house purchases while maintaining market order.

    By Global Times | 2024/3/27 20:24:17
  • Foreign institutions step up presence in China amid continued opening-up

    Global leading financial institutions,including Neuberger Berman and Fidelity International, have announced moves to increase their registered capital or set up branches in China recently, highlighting their confidence in the future of the Chinese economy as well as vast opportunities the market creates for foreign financial players.

    By Ma Jingjing | 2024/3/27 18:14:03
  • China's Douyin bans AI generated content to spread misinformation, rumors

    Chinese short video platform Douyin has banned the use of artificial intelligence generated content (AIGC) to create and post content that goes against science, fabricates information, or spreads rumors, according to a notice on its WeChat account on Wednesday.

    By Qi Xijia | 2024/3/27 17:50:55
  • China's development of new quality productive forces injects new impetus to global growth: FM

    China's development of new quality productive forces is creating new products, new technology and new business models, which will broaden the room for global economic sharing and mutual development, injecting impetus into the world's development, Chinese Foreign Ministry spokesperson Lin Jian said on Wednesday.

    By Global Times | 2024/3/27 17:33:25
  • Foreign Ministry commends Mexican President Lopez Obrador for maintaining friendly, mutually beneficial relations with China

    Chinese Foreign Ministry on Wednesday commended Mexican President Andres Manuel Lopez Obrador's remarks that Mexico doesn't want a trade war with China.

    By Global Times | 2024/3/27 16:49:10
  • Apple iPhone's shipments plunging 33% in February in China due to stiff competition

    Apple is witnessing a substantial drop in iPhone shipments in China, with a 33-percent reduction in February from the previous year, as the US company faces rising competition from Chinese domestic rivals such as Huawei and Xiaomi.

    By Global Times | 2024/3/27 14:25:17
  • China's industrial profits expand 10.2% in Jan-Feb

    Profits of China's industrial enterprises above the designated size rose 10.2 percent in the first two months of 2024, reversing from the 2.3-percent decline in 2023, the latest government data showed on Wednesday.

    By Tao Mingyang | 2024/3/27 13:34:10
  • WTO upholding China's anti-dumping complaint against Australia is hailed

    China said on Wednesday it welcomes World Trade Organization (WTO)'s ruling on the country's anti-dumping complaint against Australia, while calling for the Australian side to meet China halfway to jointly safeguard multilateral trade system and boost healthy development of China-Australia economic and trade relations.

    By Global Times | 2024/3/27 11:25:29
  • China's industrial profits up 10.2% in Jan-Feb

    China's industrial profits up 10.2% in Jan-Feb

    By Global Times | 2024/3/27 9:55:25
  • Foreign journalists experience China's new quality productive forces in Jiangsu

    "This initiative plays a crucial role in promoting cultural understanding and exchange. By exposing African journalists to the cultural, historical, and economic diversity of the province of Jiangsu, it fosters intercultural dialogue and strengthens ties between our two regions," Elhassan Benyahia, a journalist from Moroccan Press Agency (MAP), told the Global Times on Thursday.

    By Global Times | 2024/3/27 1:42:27
  • Experts suggest enhancing WTO role in promoting global trade amid fragmentation

    Senior trade officials and experts on Tuesday stressed the significance of further enhancing WTO's role in promoting global trade amid the current fragmentation, while the "decoupling" practices implemented by the US and some Western countries will affect other economies.

    By Global Times | 2024/3/26 23:12:48
  • China's economic prospects, opening-up pledges help global growth, stability as Boao Forum kicks off annual meeting

    The Boao Forum for Asia (BFA) convened its annual conference in Boao, South China's Hainan Province on Tuesday, with officials and other participants calling for unity and cooperation in Asia and around the world to jointly tackle rising regional and global challenges, ranging from trade protectionism to geopolitical tension.

    By GT staff reporters in Boao | 2024/3/26 23:02:07
  • Alternative Asian supply chain to replace China not feasible, experts at Boao say

    An alternative Asian supply chain to replace China, as some Western media outlets have suggested, is not feasible, said an author of a report released on Tuesday by the Boao Forum for Asia (BFA), which convened its 2024 conference in Boao, a resort town in South China's Hainan Province.

    By Zhao Juecheng, Qi Xijia and Tao Mingyang | 2024/3/26 22:07:03
  • AI could help transform Mars into habitable planet for humans: expert

    Experts have expressed excitement about the potential for artificial intelligence (AI), at the Boao Forum for Asia in South China's Hainan Province. Zhang Keke, director of the Macau Institute of Space Technology and Application, told the Global Times that Mars could be transformed into a habitable planet for humans with the help of AI.

    By Liu Caiyu in Boao | 2024/3/26 21:59:02
  • China expands access for imported food, agricultural products, fostering globally shared market

    China continues to expand its agricultural and food product market access, fostering a globally shared market and generating new development opportunities for the world. As part of recent developments in the sector, 38 Brazilian meat enterprises were granted export qualifications for China, as announced by the General Administration of Customs (GAC).

    By Feng Fan | 2024/3/26 21:42:47
  • Apple reportedly seeking partnership with Baidu on using its AI solution

    Apple has reportedly sought a partnership with Chinese search engine Baidu to provide generative AI solution in its devices sold in China. The US tech company is introducing AI to augment its operating system and other software.

    By Zhang Weilan | 2024/3/26 21:30:27
  • 'Invest in China' session kicks off in Beijing, with foreign firms giving vote of confidence in Chinese market

    China's Ministry of Commerce (MOFCOM) and the Beijing municipal government on Tuesday held a special session in Beijing, a sub-activity of the "Invest in China" Summit, as one of the country's efforts to attract more foreign investment. During the session, executives of foreign-funded enterprises including Aramco, Pfizer and AstraZeneca expressed their commitment to continuing to explore the Chinese market, thanks to the country's encouraging support policies.

    By Liu Yang and Tao Mingyang | 2024/3/26 21:06:42
  • Chinese science and technology continue to advance despite increasing global technological nationalism

    Chinese science and technology have made rapid progress and significant achievements over past decades. While supporting the high-quality development of the domestic economy and leading the continuous upgrading of industries, Chinese science and technology endeavors have also made important contributions to world technology advancement. In the future, the prospects for the development of Chinese science and technology are being viewed as even brighter than past decades, and there will be more "Chinese elements" in the progress of world scientific and technological development.

    By Liu Dongmei | 2024/3/26 20:26:25
  • World will be less safe, prosperous if US and China don't come together: former US commerce secretary

    Former US secretary of commerce Carlos Gutierrez told the Global Times on Tuesday on the sidelines of the ongoing Boao Forum for Asia (BFA) Annual Conference 2024 that China has been a leader in many ways, including electric vehicles (EVs) and technologies. China today influences and has an impact on the world because it's so big and important.

    By Xiong Xinyi in Boao and Tao Mingyang in Beijing | 2024/3/26 20:17:45
  • Foreign financial institutions eye opportunities in China as nation committed to high-level opening-up

    Despite the complex and volatile international environment, foreign financial institutions continued to increase their investment in China since the beginning of 2024, representing a vote of confidence in the prospects of the Chinese economy and eyeing more opportunities brought about by the country's high-level opening-up.

    By GT staff reporters | 2024/3/26 19:18:22
  • China to accelerate AI innovation to empower high-tech manufacturing: MIIT

    A spokesperson from the Ministry of Industry and Information Technology (MIIT) announced plans to enhance industrial innovation and accelerate AI-driven manufacturing, led by large language models, to speed up the development of new quality productive forces and the establishment of a modern industrial system.

    By Global Times | 2024/3/26 19:08:11
  • China lodges WTO dispute complaint targeting unfair US NEV subsidies

    China has lodged a World Trade Organization (WTO) dispute complaint over discriminatory subsidies on new-energy vehicles (NEVs) under the US Inflation Reduction Act (IRA), a Chinese Ministry of Commerce (MOFCOM) spokesperson said on Tuesday.

    By Chu Daye and Zhang Weilan | 2024/3/26 17:50:56
  • Chinese Customs' revision of soybean import data 'a common practice' to provide accurate statistics: official

    Chinese Customs' revising soybean import data for the January-February period last year was caused by a technical issue, and the change would provide more accurate statistics, officials from the China's General Administration of Customs (GAC) said on Tuesday.

    By Global Times | 2024/3/26 17:38:41
  • China's resilient economy to continue producing positive impact on global recovery

    "The engine of global economic growth" and "the main contributor to global economic growth" are terms often mentioned by overseas media and observers when discussing the Chinese economy. In the past decade, China's contribution to global economic growth exceeded the Group of Seven (G7) developed economies. In 2023, facing the challenges of a slow post-pandemic recovery and a turbulent international environment, China contributed 32 percent of global economic growth, with its own GDP expanding by 5.2 percent from a year earlier.

    By Shen Kaiyan and Zhang Xiaodi | 2024/3/26 17:29:01
  • China's central government vows to control operational spending in 2024

    China's central government expenditure is expected to rise 8.6 percent year-on-year in 2024, which will grow by only 0.3 percent from a year earlier, as the government pledges to live on a tight budget, an official with the Ministry of Finance said on Tuesday.

    By Global Times | 2024/3/26 17:14:53
  • Asian economy expected to grow 4.5% in 2024: Boao report

    Despite differences and uncertainties, the Asian economy is projected to sustain a strong growth rate in 2024, accounting 49 percent of the world's GDP, and its growth rate is expected to reach 4.5 percent, continuing to be the largest contributor to global economic growth, said a report released on Tuesday during the ongoing Boao Forum For Asia in South China's Hainan Province.

    By GT staff reporters in Boao | 2024/3/26 13:21:51
  • China's property market showing positive signs: PBC governor

    China's property market is showing positive signs, with a solid foundation for long-term stable development and a limited impact on the financial system, China's central bank governor said at the China Development Forum (CDF) on Monday.

    By Global Times | 2024/3/26 1:06:49
  • As CDF concludes, attention turns to Boao Forum, as China holds back-to-back meetings with foreign leaders, businesses

    High-level Chinese officials on Monday met with heads of global organizations and business leaders as the China Development Forum (CDF) concluded in Beijing, reaffirming China's pursuit of high-quality development and high-level opening-up to create more opportunities for the world.

    By Wang Cong, Xiong Xinyi and Liu Caiyu in Boao | 2024/3/25 23:25:50
  • CEOs of top US chip firms flock to China, calling for cooperation, predictability

    The CEOs of some leading US semiconductor companies visited China this week to attend the China Development Forum (CDF) in Beijing, expressing their commitment to the Chinese market and willingness to pursue cooperation.

    By Chu Daye | 2024/3/25 23:22:52
  • China vows to establish integrated computing power network, boosting digital economy: NDB chief

    China pledges to build a national integrated computing power network, in an effort to optimize the distribution of computing power and provide better services for the development of the digital economy, the head of National Data Bureau (NDB) said on Monday.

    By Global Times | 2024/3/25 23:08:43
  • Cook's visit to China should be seen amid bigger picture of opportunities

    Amid hype by US politicians and media outlets about geopolitical tensions, Apple CEO Tim Cook has become a frequent visitor to China. He is actually in a position to attract public attention, as his visit, to some extent, mirrors the complexity of China's interactions with the world economy.

    By Hu Weijia | 2024/3/25 22:33:56
  • Xiaomi's first electric vehicle put on display, drawing crowds

    Chinese tech giant Xiaomi put its new electric vehicle (EV) on display on Monday in 60 stores across 29 cities in China. The company is aiming to become a new leading player in China's fiercely competitive EV market.

    By Global Times | 2024/3/25 22:05:27
  • Bavarian governor's China visit signals strengthening economic cooperation

    In a move to strengthen economic ties with China, Markus Söder, the governor of the German state of Bavaria, embarked on a five-day visit to China. The visit is seen as a significant step toward enhancing economic cooperation between the largest German state and China, emphasizing the state's strategic focus on China, its largest global trading partner, analysts pointed out.

    By Feng Fan | 2024/3/25 21:50:26
  • Hong Kong sees intensive financial events, as stable social environment attracts more international capital

    The Financial Mega Event Week kicked off in the Hong Kong Special Administrative Region (HKSAR) on Monday, with a series of top-tier international conferences and exhibitions taking place, creating enormous business opportunities from the mega event economy and showcasing the city's glamour and vitality to the world.

    By Ma Jingjing | 2024/3/25 20:21:00
  • Chinese FM says China imports zero soybeans from Paraguay; urges S.American nation to stand on right side of history

    The Chinese Foreign Ministry on Monday refuted Paraguayan President Santiago Pena's statement claiming that the country continues to export soybeans to China despite relations between Paraguay and the island of Taiwan.

    By Global Times | 2024/3/25 17:56:24
  • China Development Forum highlights robust economic recovery, opening up to outside world: FM

    The China Development Forum (CDF), being held in Beijing, has sent a clear message of China's robust economic recovery and its opening-up to the world, injecting certainty and positive momentum into the global economy, Chinese Foreign Ministry spokesperson Lin Jian told a press conference on Monday.

    By Global Times | 2024/3/25 17:40:08
  • US business executives flock to China, defying Washington's call for 'decoupling'

    During his closely watched trip to China, Apple CEO Tim Cook notably did not mince words when talking about the critical role China plays for the US tech giant.

    By GT staff reporters | 2024/3/25 17:18:42
  • Multinationals zoom into Chinese market, as country embarks on promoting new quality productive forces

    Top executives from multinational companies like Aramco, FedEx, Rio Tinto and Mercedes-Benz reiterated on Monday China's key role in their global operations, expressing their willingness to enhance cooperation with the world's second largest economy. The executives believe that China high-quality opening-up and efforts to promote new quality productive forces will provide huge cooperation potential for them.

    By Liu Yang and Tu Lei | 2024/3/25 17:00:28
  • AI begins to feature prominently in 2024 Hurun Global Rich List: report

    Artificial intelligence technology is playing an increasingly important role in driving the global economy, which has also featured prominently in the Hurun Global Rich List for 2024. More than half of this year's new wealth comes from AI-related innovation, the Hurun report said.

    By Global Times | 2024/3/25 16:30:36
  • China launches record-breaking deep-water jacket Haiji-2, marking a milestone in offshore oil and gas exploration

    Asia's first deep-water jacket, Haiji-2, was launched in the Pearl River Mouth Basin of the South China Sea on Monday, setting multiple records in Asia, which will advance the country's offshore oil and gas exploration capability.

    By Global Times | 2024/3/25 14:57:56
  • Moscow-China airfares soar after concert hall terror attack

    Fares for outbound flights from Moscow to China surged after the deadly terrorist attack, especially for direct flights to Beijing and Shanghai operated by Chinese carriers.

    By Global Times | 2024/3/24 23:21:41
  • China's pursuit of new quality productive forces to inject fresh vitality to global economy: EY China Chairman Jack Chan

    The Chinese government pledges to create a more favorable business environment for overseas investors by unswervingly implementing the high-quality opening-up policy. In March and April, the China Development Forum (CDF) and the Boao Forum for Asia (BFA), will be convened to illustrate the country's opening-up mandate. Senior executives from a long list of international companies will attend the CDF in Beijing this week. The Global Times' Chu Daye (GT) spoke with Jack Chan (Chan), EY China chairman, on the sidelines of the CDF discussing the resilience and potential of the Chinese economy, and the opportunities China's pursuit of new quality productive forces will provide to the world.

    By Global Times | 2024/3/24 23:09:36
  • Chinese commerce minister meets global CEOs as nation expands opening-up to boost foreign investment

    Chinese Commerce Minister Wang Wentao met with global executives including Apple CEO Tim Cook, Qualcomm CEO Cristiano Amon and Visa Inc CEO Ryan McInerney ahead of an annual international event in Beijing, underscoring China's commitment to expand high-level opening-up in a bid to boost foreign investment and provide more development opportunities for global businesses.

    By GT staff reporters | 2024/3/24 22:28:24
  • China's Moonshot AI fuels domestic large model app frenzy, aiming to overtake ChatGPT

    Kimi chatbot, a large language model (LLM) application, has been gaining popularity, leading to a new wave of investment enthusiasm in the field of artificial intelligence (AI) and fueling hot discussion about the commercial prospects of LLMs in China.

    By Zhang Weilan | 2024/3/24 22:25:47
  • Questions over ASML services 'grave intervention' in market norms

    Dutch Prime Minister Mark Rutte will pay a visit to China next week and topics involved during the visit could include whether chipmaking equipment producer ASML, the EU's most valuable firm, can continue to service its computer chip equipment sold to Chinese customers, Reuters reported over the weekend.

    By Global Times | 2024/3/24 22:07:15
  • Nation's new quality productive forces draw bullish foreign response

    As China ramps up efforts to promote new quality productive forces, a group of Chinese and foreign officials as well as institutions which participated in the China Development Forum 2024 (CDF) on Sunday expressed their optimism about its development prospects, which feature artificial intelligence (AI), new-energy vehicles (NEVs) and other emerging industries.

    By Liu Yang and Chu Daye | 2024/3/24 21:53:59
  • DPP authorities undermine cross-Straits trade, even as island of Taiwan benefits from ECFA

    The island of Taiwan recently released data showing that the region had seen more than $10 billion in tariff reductions from the Chinese mainland after 13 years of the implementation of the Economic Cooperation Framework Agreement (ECFA), highlighting the massive benefit from cross-Straits trade for the island.

    By Ni Hao | 2024/3/24 21:53:34
  • A more open China will bring more opportunities for the world: Li

    Chinese Premier Li Qiang on Sunday offered a powerful reassurance for global business leaders about China's economy and its steadfast opening-up, saying at a major forum in Beijing that China's economy has strong resilience, vast potential and sufficient vitality and an increasingly open China will bring more opportunities for the world.

    By Wang Cong, Chen Qingqing and Liu Yang | 2024/3/24 20:39:41
  • Generative AI to make human work much easier, reshaping competitive landscape

    Generative artificial intelligence (AI) is rapidly emerging and shaking up the world like few things before. Global businesses, led by big tech companies, are racing to train their AI models with vast amounts of data and carefully crafted algorithms in their urgent efforts to develop innovative tools that will transform their production or service models to outperform their competitors.

    By Wen Sheng | 2024/3/24 19:30:17
  • China to publicize 2024 negative list for foreign investment: NDRC head

    Zheng Shanjie, head of the National Development and Reform Commission, said on Sunday that China is accelerating to publicize the negative list for foreign investment for 2024, a move to further promote the nation's cross-border service trade and high-quality opening-up.

    By Global Times | 2024/3/24 19:04:50
  • Deepening Global South cooperation is significant in breaking traditional Western narratives

    The rapid development of the Global South is having a significant impact on the world economic and political landscape. Propelling indigenous development and accelerating economic modernization remain crucial tasks faced by the developing countries in the Global South, so it is of great importance for the countries to strengthen exchanges and mutual learning of development ideas.

    By Ma Hanzhi | 2024/3/24 16:47:41
  • China continues to be a major contributor to global economic growth: IMF head

    China will continue to be a key contributor to global economic growth against a backdrop of an expected over 3 percent global growth this year and next, and there are tremendous opportunities in the world's second largest economy, Kristalina Georgieva, Managing Director of the IMF, said at a symposium during the China Development Forum 2024 (CDF) on Sunday.

    By Liu Yang | 2024/3/24 16:18:02
  • China unveils new regulations to streamline cross-border data transfer assessment

    China has introduced new regulations aimed at refining its data security assessment standards for cross-border data transfers, the Cyberspace Administration of China (CAC) announced on Friday. These new rules specify the conditions under which data exports do not require a security assessment, and a negative list mechanism for free trade zones (FTZs).

    By Global Times | 2024/3/23 1:13:45
  • China releases first nationwide negative lists for cross-border services trade

    China on Friday released its first nationwide negative lists for cross-border services trade, containing 71 items in 11 sectors as part of the country's efforts to open up, according to China's Ministry of Commerce (MOFCOM).

    By Global Times | 2024/3/23 0:38:33
  • China's 2024 energy strategy aims to boost green transition, ensure energy security

    China's National Energy Administration (NEA) released its 2024 energy work plan on Friday, laying out a roadmap aimed at bolstering the green and low-carbon transition of the country's energy sector while boosting energy security.

    By Global Times | 2024/3/23 0:04:36
  • Chinese Premier Li to address major forum, as global CEOs head to China in show of commitment

    Chinese Premier Li Qiang will deliver a keynote speech at the China Development Forum's annual meeting, which is scheduled to take place from Sunday to Monday and is expected to draw more than 110 foreign guests, including leaders of the World Bank and the IMF, corporate executives and scholars, the Forum announced on Friday.

    By Wang Cong and Feng Fan | 2024/3/22 22:26:06
  • Exclusive: Improvement in China-Australia bilateral relationship gives businesses greater confidence about seizing trade, investment opportunities: AustCham

    Improvements in the China-Australia bilateral relationship give Australian companies greater confidence about seizing trade and investment opportunities in this market, Vaughn Barber, AustCham China Chair, told the Global Times in an exclusive interview on Friday, with good prospects expected as bilateral relations welcome more positive signals with the visit of China's Foreign Minister Wang Yi to New Zealand and Australia, which concluded on Thursday.

    By Yin Yeping | 2024/3/22 18:46:10
  • Nation to hold 'Invest China' event amid slew of measures to draw foreign investment

    Chinese Vice President Han Zheng will attend and deliver a speech at the "Invest China" event in Beijing on March 26, the Chinese Commerce Ministry (MOFCOM) said on Friday. The high-profile event demonstrates China's strong commitment to attracting foreign investment with proactive measures as the country embarks on high-level opening-up, experts said.

    By Qi Xijia | 2024/3/22 21:36:57
  • China advocates for global EV cooperation, rejects protectionism amid reported US-EU restriction measures

    In response to EU's mandate for customs registration and possible retrospective tariffs on electric vehicle (EV) imports from China, the Chinese Foreign Ministry has voiced opposition against the trade protectionism measures, advocating for cooperation and mutual benefit in the industry.

    By Global Times | 2024/3/22 20:10:30
  • US' intensified crackdown on China only slows down own industrial development: experts

    The US' recent suppressive measures targeting Chinese enterprises and industry players in various sectors only show that the US cannot compete with China under conventional trade rules, so it is implementing trade restrictions by abusing the concept of national security which will only prevent the US advancing its industrial development, Chinese experts said on Friday.

    By GT staff reporters | 2024/3/22 19:47:07
  • Foreign journalists impressed by Jiangsu's development during media exchange event

    Many foreign journalists said on Thursday that they were impressed by the rich history, natural beauty, as well as prosperity in East China's Jiangsu Province, as they visited the province as part of “Travelogue of China,” a media exchange program.

    By Global Times | 2024/3/22 13:21:09
  • China's economy poised for long-term growth, innovation: experts

    China's economy has strong resilience and potential, according to experts from the Chinese Academy of Social Sciences (CASS), who emphasized the importance of investing in human capital and high-quality industrial development driven by innovation.

    By Feng Fan | 2024/3/22 1:59:05
  • Chinese foreign trade is resilient in navigating global challenges

    In 2023, China's foreign trade remained stable amid a complex and challenging global environment. Contributing positively to the smooth functioning of the macro economy, the structure of China's foreign trade has continuously improved, as the sector is set to gain new momentum.

    By Liang Ming | 2024/3/22 0:13:20
  • Major internet firms report sound 2023 revenue growth as private economy recovers steadily amid policy support

    Major Chinese internet firms have reported sound revenue growth for 2023, boosted by the use of advanced technologies like artificial intelligence (AI), as well as measures to reduce costs and raise efficiency.

    By GT staff reporters | 2024/3/21 23:41:31
  • China has room for further RRR cuts; debt at appropriate level: Chinese officials

    Chinese monetary policy has ample space and a rich reserve of tools, with room to further cut the reserve requirement ratio (RRR), and debt is at an appropriate level, Chinese officials told an economic-themed press conference on Thursday.

    By Qi Xijia | 2024/3/21 23:26:58
  • Train tickets for popular destinations for first day of Qingming holidays sold out, tourism momentum to last: experts

    Train tickets for April 4 - the first day of the three-day Qingming holidays - were sold out on Thursday, with searches for popular destinations surging by more than 600 percent on a weekly basis.

    By GT staff reporters | 2024/3/21 23:23:09
  • US crackdown on Chinese companies is economic bullying, violates intl trade rules: MOFCOM spokesperson

    China urges the US not to take the wrong approach and says it will take the necessary measures as appropriate to safeguard the legitimate rights and interests of Chinese enterprises, Chinese Ministry of Commerce (MOFCOM) spokesperson He Yadong said at a regular press conference on Thursday, reiterating China's clear and firm stance regarding intensified US moves targeting Chinese companies.

    By GT staff reporters | 2024/3/21 23:12:23
  • Chinese clean energy firms continue overseas expansion amid challenges, opportunities

    Chinese clean energy companies have been continuing to expand into overseas markets and there are still vast market opportunities, despite challenges such as obstacles put up by Europe and the US, executives said at an industry meeting on Wednesday.

    By Ni Hao | 2024/3/21 23:11:18
  • Apple's world-class Shanghai store shows faith in China

    US technology giant Apple Inc opened a new flagship store, which is second only to its Fifth Avenue outlet in New York City among its stores worldwide, in downtown Shanghai on Thursday.

    By GT staff reporters | 2024/3/21 22:51:47
  • China has ample policy room and advantages to boost economy despite challenges

    The Chinese economy has not yet peaked and still has great potential for further growth. The Chinese government has a wide range of tools at its disposal to address various issues and is actively engaged in relevant work. The key to addressing the challenges facing the Chinese economy is to continue its growth, just like cycling we need to pedal hard and move forward, which can help solve problems.

    By Li Daokui | 2024/3/21 22:07:54
  • Cooperation with China conducive to Mexico's manufacturing development

    As the US is attempting to regain some of the manufacturing output it transferred in recent decades to emerging countries, many companies have already chosen to settle their production facilities in Mexico, due to its lower costs.

    By Hu Weijia | 2024/3/21 21:46:36
MORE