Change in direction to promote high-quality transformation in China's economy attracts international interest

Chinese and foreign firms are showing increasing enthusiasm toward China's new infrastructure plan as it accelerates the move toward new emphases and is expected to bring new drivers for the economy and help hedge against the fallout of the coronavirus outbreak.

Sinovac's Beijing vaccine plant with 100 mln per year capacity under construction: report

Sinovac Biotech Ltd, the Chinese vaccine developer that has a lead in the global coronavirus vaccine development pipeline, received $15 million worth of venture capital funds to boost its research work.
Source: Global Times | 2020/5/23 18:13:40

Chinese firm denies ICMR allegations that COVID-19 kits give faulty results

China's Foreign Ministry and China's Embassy to India on Tuesday refuted claims by Indian Council of Medical Research (ICMR) alleging COVID-19 test kits it purchased from Chinese companies were not working, saying poor storage, transportation and use of the kits could all result in inaccurate testing results.
Source: Global Times | 2020/4/28 19:13:40


Volkswagen investment to boost China's NEV sector: analysts

German automaker Volkswagen announced plans to invest 2.1 billion euros ($2.31 billion) in two Chinese new energy vehicle (NEV) companies. Analysts said the move would accelerate Volkswagen's China presence and push the domestic NEV industry to a higher level.
Source: | 2020/5/31 23:21:09

Passenger on first chartered Germany-China flight tested positive for Covid-19

A passenger on LH342, the first chartered flight from Germany to China carrying up to 200 German passengers, tested positive for coronavirus after arriving in North China's Tianjin although he did not show any symptoms.
Source: Global Times | 2020/5/31 21:05:48

China welcomes back street carts

China is loosening grip on street vendors after years of restricting the sector as it seeks to boost employment in the wake of Covid-19 epidemic. Experts hail the move, deemed a game-changer for low-income and unemployed people, with as many as 100 million jobs to be created.
Source: Global Times | 2020/5/31 20:18:40

US 'unlikely' to leapfrog in 6G race

A US leapfrog from 5G to 6G, the futuristic telecommunication technologies, to deny China's lead in 5G is probably just wishful thinking, Chinese industry experts said on Sunday, after a top executive from Huawei Technologies confirmed the company's early-stage investment in 6G by pointing to the use of millimeter waves.
Source: Global Times | 2020/5/31 19:43:40

China may scale back LatAm lending: experts

As Latin America's economic woes deepen, China may scale back direct lending to the region to minimize credit risks, Chinese experts said, but the long-term infrastructure projects will likely boost local economies after the Covid-19 outbreak is contained.
Source: Global Times | 2020/5/31 18:43:40

No capital controls, dollar convertibility unchanged: HK Monetary Authority

Hong Kong will not impose capital controls, the Hong Kong Monetary Authority (HKMA) said on Saturday, as experts predicted that the stability of the Hong Kong dollar exchange rate will be maintained.
Source: Global Times | 2020/5/31 18:33:40

China's manufacturing sector improves for third month, NBS says

China's manufacturing purchasing managers' index (PMI) for May stood at 50.6, below analysts' expectation of 51, but the reading reflects an economic recovery on course amid continuous efforts to prevent a second wave of imported COVID-19 infections.
Source: Global Times | 2020/5/31 17:23:40

Yuan/dollar exchange rate 'could hit 7.2' due to higher China-US tensions

The yuan, which has weakened in recent months, could depreciate further to more than 7.2 per US dollar amid the escalating tensions between China and the US, but long-term volatility will be controllable, Chinese economists said on Sunday.
Source: Global Times | 2020/5/31 17:03:42

Huawei's 6G research progresses, end-user devices expected around 2030

The US' unreasonable crackdown on Huawei will not hinder the Chinese tech giant's advancement in ICT (information and communication technology) as its senior management said the company has started research on 6G and relevant applications are expected to emerge around 2030.
Source: Global Times | 2020/5/31 15:03:50

There will be no forex control: Hong Kong Monetary Authority

Free flow of capital and free convertibility of the Hong Kong dollar will continue to be safeguarded by Article 112 of the Basic Law, the Hong Kong Monetary Authority (HKMA) noted on its official Facebook page on Saturday in response to rumors that Hong Kong may impose foreign exchange control.
Source: Global Times | 2020/5/31 12:33:40

China's PMI stands at 50.6 in May, expanding for three straight months

China's manufacturing purchasing managers' index (PMI) for May stood at 50.6, lower than analysts' expectation of 51, but reflects the economic recovery amid continuous efforts to prevent a second wave of imported COVID-19 infections.
Source: Global Times | 2020/5/31 12:09:22

China's manufacturing PMI down slightly in May

The purchasing managers' index (PMI) for China's manufacturing sector eased to 50.6 in May from 50.8 in April, the National Bureau of Statistics said Sunday.
Source: Xinhua | 2020/5/31 9:16:30

Hubei to invest $28m in 5G base stations to power digital consumption

In order to boost consumption and revive the economic growth of virus-hit Hubei Province, the provincial government introduced 30 measures, including allocating 200 million yuan ($28.02 million) to subsidize 5G base stations building to push forward digital consumption.
Source: Global Times | 2020/5/30 19:47:11