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China's first LEO satellite system for IoT to be completed in 2021

China's first low-earth orbit (LEO) satellite project that can provide data service for the Internet of Things (IoT) will be established at the end of next year by the privately owned Beijing Guodian High-tech Co, the company told the Global Times on Sunday.
Source: Global Times | 2020/9/27 19:23:41

Greening the desert

In Northwest China's Xinjiang Uygur Autonomous region, where desertification accounts for 43 percent of the region's land mass, local people have never stopped fighting against desertification.
Source: Global Times | 2020/9/27 18:21:59

US restrictions on SMIC to force China to quicken self-reliance of microchips

The US' reported sanctions on the Semiconductor Manufacturing International Corp (SMIC) could not only deal a heavy blow to the Chinese chipmaker, but will also force the whole country, from the policymakers to industry players, to find out an effective way to grow a completely self-reliant industrial chain, even if it means huge losses in the short term, industry analysts said.
Source: Global Times | 2020/9/27 17:00:38

Shanghai tourism festival drives consumption up 35%

The 2020 Shanghai Tourism Festival has played an important role in driving consumption despite the COVID-19 impact as ticketing revenues from tourism, catering, and entertaining sectors hit 31.97 billion yuan ($4.7 billion) from September 12 to 27, up 35 percent compared with the previous 16 days, the Shanghai municipal government announced on Sunday.
Source: Global Times | 2020/9/27 16:52:37

APEC finance ministers meet virtually on cooperation to mitigate COVID-19 impact

Finance ministers of Asia-Pacific Economic Cooperation (APEC) economies met virtually Friday to share and exchange ideas on fiscal and monetary interventions to mitigate the economic impact of the COVID-19 pandemic, as well as to build a more resilient economy.
Source: Xinhua | 2020/9/27 10:38:25

China to protect TikTok at 'all cost'

China is prepared to prevent Chinese firm TikTok and its advanced technologies from falling into US hands at all cost, even if that means the vastly popular video sharing app risks being shut down in the US, because allowing the US to seize the firm and its technology will not only set a dangerous precedent for other Chinese firms, but also pose a direct threat to China's national security, Chinese experts said on Saturday, a day ahead of a court battle in the US over a ban of the app.
Source: Global Times | 2020/9/26 22:21:33

Beijing auto show forges ahead post COVID-19

After a five-month delay, the Beijing auto show finally opened on Saturday. The show is the only event to be held in person in the world this year, after similar events such as in Geneva was canceled due to the epidemic.
Source: Global Times | 2020/9/26 20:52:45

China to combine two major inbound investment scheme in Nov

Chinese regulators announced rules on Friday to combine two major inbound investment schemes and expand the investment scope for foreign investors, a move which observers said represents an important step in the country's efforts to continue opening up its capital market to attract foreign investors amid the backdrop of global low-interests rates and strained China-US relations.
Source: | 2020/9/26 13:53:07

PBOC welcomes Chinese bonds inclusion in FTSE Russell

The People's Bank of China (PBOC), the country's central bank, said on Friday that it welcomes FTSE Russell's announcement to include Chinese bonds in its World Government Bond Index (WGBI).
Source: Xinhua | 2020/9/26 8:09:08

China launches new free trade zones for greater opening-up, high-quality development

China on Thursday officially opened three new pilot free trade zones (FTZs) and expanded one as it seeks greater opening-up and high-quality development.
Source: Xinhua | 2020/9/25 9:27:07

China, New Zealand agree to upgrade FTA: MOFCOM

China and New Zealand agreed on Wednesday to promote cooperation within the framework of the Belt and Road Initiative and move forward the bilateral efforts on upgrading the free trade agreement (FTA), said Gao Feng, a spokesperson for the Ministry of Commerce (MOFCOM), at a press conference on Thursday.
Source: CGTN | 2020/9/25 9:23:14

Future of fintech discussed at Ant Group conference amid China-US tensions

In China, mobile payment, a form of financial technology (fintech), has narrowed the financial service gap between the east and the west of the country by 15 percent, said Hu Xiaoming, CEO of Ant Group, at the INCLUSION Fintech Conference in Shanghai on Thursday.
Source: Global Times | 2020/9/25 0:06:41

Exporting TikTok tech to US unlikely

As ByteDance, parent company of viral short-form video app TikTok, applied to Chinese authorities for a permit for the TikTok deal in the US, Chinese analysts said the chance of approval of the current arrangement is slim over technological, legal and political reasons.
Source: Global Times | 2020/9/24 20:18:41

Foreign travel agents woo Chinese tourists

With the golden week of the Chinese National Day approaching, tourism agents and officials abroad have been more active in launching and promoting “online tourism packages” through livestreaming, in an effort to attract Chinese tourists and bring in revenue to provide relief to their economies in the post-pandemic era.
Source: Global Times | 2020/9/24 22:13:40

HK investors encouraged to capitalize on Chinese mainland market

Hong Kong investors have been getting more involved in the Chinese mainland market this year despite the COVID-19 outbreak, an official with the Ministry of Commerce (MOFCOM) said on Thursday, encouraging more investment from the Hong Kong Special Administrative Region (HKSAR) to capitalize on the mainland market, where effective virus containment has made it a stabilizing force.
Source: Global Times | 2020/9/24 21:40:10

Ready to celebrate

A worker at an e-commerce platform prepares products for the upcoming National Day holidays and Mid-autumn Festival at a warehouse in Lianyungang, East China's Jiangsu Province on Thursday. China is expected to see a sales boom during the eight-day break. Photo: CNSphoto
Source: Global Times | 2020/9/24 20:28:40

Environmentalists call for action plan

China's bold pledge to be carbon-neutral by 2060, a goal far exceeding any climate action by the US, will see the country focus on renewables and center its economy around green growth, said Chinese environmentalists, who urged action plans to be set for low-carbon growth over the com-ing decades to reach a net zero carbon footprint.
Source: Global Times | 2020/9/24 20:18:40

Germany's Huawei stance can be example for EU countries: analysts

German Chancellor Angela Merkel's reported rejection of a full Huawei ban can serve as a demonstration for other EU countries in dealing with the Chinese tech giant, and it can also consolidate ties between China and Germany and pave the way for deeper cooperation, Chinese analysts said.
Source: Global Times | 2020/9/24 19:22:30