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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

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China slams 'unjust' Huawei CFO ruling

A Canadian court on Thursday defied widespread expectations and ruled to keep Huawei Chief Financial Officer Meng Wanzhou in custody, a move China firmly opposes, with Chinese experts saying it shows that Canada has completely surrendered its self-proclaimed judicial and diplomatic independence to US bullying, and foreshadows the "worst-ever" China-Canada ties.
Source: Global Times | 2020/5/28 22:48:40

Tesla to build 4,000 superchargers in China in 2020 despite coronavirus impact

Tesla is looking to set up more than 4,000 superchargers in China in2020, doubling the total number of superchargers it has built in the past five years, as the US electric maker looks to break one of the biggest bottlenecks in the development of new-energy vehicles (NEV) that has led to many consumers hesitating about purchasing NEVs.
Source: Global Times | 2020/5/28 22:28:40

Japan should not stand with US like Australia: experts

If Japan wants to maintain sound economic and trade relations with China, it better not stand with and fawn on the US as Australia did amid escalating China-US diplomatic and trade tensions, Chinese experts warned.
Source: Global Times | 2020/5/28 22:05:36

China pursues challenging path: Premier Li

China's economy can achieve positive growth this year if security in six key areas including job creation, basic living needs and the operations of market entities can be maintained, Premier Li Keqiang said on Thursday, reassuring the markets of the nation's ability to carve out a challenging path to economic revival after it puts Covid-19 under control.
Source: Global Times | 2020/5/28 21:08:41

US-China economic decoupling won't benefit anyone: Premier Li

China-US economic decoupling will not benefit anyone, said Chinese Premier Li Keqiang at a press conference in Beijing on Thursday after the conclusion of the third session of the 13th National People's Congress (NPC).
Source: Global Times | 2020/5/28 20:18:40

Protecting privacy a precondition for digital health codes: experts

Health codes – a Chinese innovation that are being used to tackle the COVID-19 pandemic -- could become part of the nation's ongoing disease prevention measures, which are set to persist for some time.
Source: Global Times | 2020/5/28 19:53:40

Ruling on Meng 'won't alter Huawei's set strategy

A court ruling in Canada over the fate of Huawei Chief Financial Officer Meng Wanzhou has again put the Chinese tech giant in the global spotlight. The ruling, though disappointing, won't alter the firm's set strategy toward the US supplies ban – from building backups and finding alternatives to quietly adjusting its management structure for long-term development.
Source: Global Times | 2020/5/28 19:33:40

Weather postpones SpaceX's first astronaut launch from Florida

SpaceX, billionaire entrepreneur Elon Musk's private rocket company, was forced by foul weather to scrub a planned launch on Wednesday of two Americans into orbit from Florida, a mission that would be the first spaceflight of NASA astronauts from US soil in nine years.
Source: Reuters | 2020/5/28 18:53:42

Trump to sign executive order on social media

US President Donald Trump will sign an executive order on social media companies on Thursday, White House officials said after Trump threatened to shut down websites he accused of stifling conservative voices.
Source: Reuters | 2020/5/28 18:53:40

Aussie officials' attack on Victoria's BRI to curry favor with US: experts

Attacks on Australia's Victoria state officials for Belt and Road Initiative (BRI) involvement by some Australian federal officials further unveiled their purpose to hijack China-Australia diplomatic and trade ties for their political ends and to curry favor with Washington, a Chinese political analyst said Thursday.
Source: Global Times | 2020/5/28 18:48:40

Chinese Premier: 70% of relief funds go to support jobs, incomes

China is focusing on stabilizing employment and ensuring people's livelihoods to support the coronavirus-battered economy, in addition to ramping up spending on infrastructure projects, Chinese Premier Li Keqiang said on Thursday during a press conference after the conclusion of the National People's Congress (NPC).
Source: Global Times | 2020/5/28 18:23:40

Oil producers, refiners call for cancellation of refined oil floor rates

The Chinese oil industry has sparked a hot debate on whether or not floor rates for retail fuel should be canceled. While international crude oil prices have taken a dive in recent months, domestic refined oil products, including gasoline and diesel have touched China's floor rates.
Source: Global Times | 2020/5/28 18:17:44

China bans hog imports from India to prevent African swine fever

China is set to ban imports of pigs, wild boar and related products from India in an effort to prevent African swine fever (ASF) and ensure the safety of China's animal husbandry, according to a joint notice issued by the General Administration of Customs of China and the Ministry of Agricultural and Rural Affairs on Wednesday.
Source: Global Times | 2020/5/28 17:58:40