SOURCE >> Economy

Westernmost airport in Tibet celebrates 10th anniversary of operation

Gunsa Airport, the westernmost airport in Southwest China's Tibet Autonomous Region well known for its extremely harsh geographical conditions, marked its 10th anniversary of operation on Wednesday.
Source: Global Times | 2020/7/1 17:58:32

China to issue third batch of special treasury bonds amid pandemic

As part of China's measures to relieve the impact on the economy from the COVID-19 pandemic and revive the country's economic development, China will issue a third batch of special treasury bonds aiming to raise 70 billion yuan ($9.9 billion), China's Ministry of Finance announced Tuesday.
Source: Global Times | 2020/7/1 10:08:40

China's manufacturing PMI picks up in June

The purchasing managers' index (PMI) for China's manufacturing sector ticked up to 50.9 in June from 50.6 in May, the National Bureau of Statistics said Tuesday.
Source: Xinhua | 2020/7/1 0:10:13

China, Russia to test crude oil transport via railways

China and Russia will begin to transport crude oil via a bilateral freight train service from July, an executive of JSC Russian Railways said at an industry seminar on the future of railway freight train service between China and the Europe on Tuesday.
Source: Globaltimes.cn | 2020/6/30 23:52:34

HKSAR prepared for shocks from suspension of preferential status

China will take “necessary countermeasures” to firmly protect its national interests after the wrongful move by the US to revoke the Hong Kong Special Administrative Region (HKSAR)'s special status in a bid to pressure China to drop its new National Security Law, Foreign Ministry spokesperson Zhao Lijian told a routine press conference on Tuesday.
Source: Global Times | 2020/6/30 20:28:40

Guangdong, Jiangsu see signs of export recovery

South China's Guangdong Province and East China's Jiangsu Province, which are among China's top five provinces and cities in terms of export value, saw slight signs of recovery as the decline in their export value narrowed by 1.4 and 0.8 percentage points in the January to May period compared with the first four months this year.
Source: Global Times | 2020/7/1 0:11:02

Airbnb China appoints new COO, showing belief in domestic market

In order to strengthen its leadership team, Airbnb China has appointed a new chief operating officer (COO), showing the importance attached by the company to the Chinese market.
Source: Global Times | 2020/6/30 22:58:18

Chinese economy may have grown as much as 3% in Q2, no huge monetary stimulus seen

China's economy is expected to have expanded as much as 3 percent in the second quarter as it gradually emerged from the shadow of the COVID-19 outbreak, said veteran market watchers, who played down the possibility of any drastic monetary policy moves.
Source: Global Times | 2020/6/30 20:18:40

Yiwu's Christmas orders slump 50% amid pandemic: insider

Yiwu in East China's Zhejiang Province, the world's largest Christmas product export market that produces 60 percent of global Christmas decorations, has been slammed by the global COVID-19 pandemic, with export orders plummeting by 50 percent, industry insiders said.
Source: Global Times | 2020/6/30 19:53:40

Indian ban on Chinese apps will backfire on tech sector

Analysts said that the Indian government's ban on 59 apps developed by Chinese companies will hurt India's technology and internet start-ups as they lose Chinese investment.
Source: Global Times | 2020/6/30 19:28:40

Pedestrian street activities to boost sales of export-oriented products

China's Ministry of Commerce (MOFCOM) announced new measures on Tuesday to support domestic sales of commodities originally produced for export.
Source: Global Times | 2020/6/30 19:03:39

HK will not be swayed by frosty US relations

Contrary to foreign media claims that the new national security legislation would bring an end to the Hong Kong Special Administrative Region (HKSAR)'s status as an international financial and commercial hub, observers and industry insiders said just ahead of the 23rd anniversary of the city's return to the motherland on Wednesday that the legislation would only sharpen the HKSAR's financial prowess.
Source: Global Times | 2020/6/30 16:53:40

China will take 'necessary countermeasures' in response to US' revocation of Hong Kong's special status: FM

China will take "necessary countermeasures" to firmly protect its national interests after the US' wrongful move to revoke the Hong Kong Special Administrative Region's special status in a bid to pressure China to drop its new National Security Law, Foreign Ministry spokesperson Zhao Lijian told a routine press conference on Tuesday.
Source: Global Times | 2020/6/30 16:22:16

UPDATE 1 – Ban on Chinese apps will hurt Indian start-ups, deter Chinese investment: analysts

Analysts say the Indian government's ban on 59 apps developed by Chinese companies will eventually hurt India's technology and internet startups when they lose Chinese investment.
Source: Global Times | 2020/6/30 12:31:44

HK stock market unperturbed by US sanctions, propped up by mainland tech giants

The Hong Kong stock market remained unperturbed on Tuesday despite the US government's announcement that it would eliminate Hong Kong's special status, a phenomenon experts said is underpinned by the strong business performance of mainland stocks such as Tencent.
Source: Global Times | 2020/6/30 15:18:43

Chinese C919 aircraft begins high temperature test in Xinjiang

China's first civil aircraft with its own intellectual property rights, the C919, started its high temperature operating test on Sunday and landed at Turpan Jiaohe Airport in Northwest China's Xinjiang Uygur Autonomous Region.
Source: Global Times | 2020/6/30 13:43:43

Hainan raises duty-free shopping quota, expands commodities category to stimulate consumption, tourism

China's tax-free related stocks opened higher on Tuesday morning, with some rising by the daily limit of 10 percent. Investors were cheered overnight by a new policy that expands the per capita quota for offshore duty-free shopping in South China's Hainan Province from a previous 30,000 yuan ($4,239) to 100,000 yuan a year.
Source: Global Times | 2020/6/30 11:47:57

HK would be minimally affected by US sanctions: HK chief

No sanctions can terrify Hong Kong, which would be minimally affected by the US pullback, Hong Kong Special Administrative Region (HKSAR) Chief Executive Carrie Lam Cheng Yuet-ngor said on Tuesday after the US announced it would revoke the city's special status as separable from the Chinese mainland.
Source: Global Times | 2020/6/30 11:43:52