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China encourages foreign investment in more sectors, focuses on stable and self-controlled industry chains


China has significantly increased the number and type of items on its newly revised industry catalogue, released on Monday, to encourage foreign investment.


First section of the China-Laos expressway to boost cross-border exchange: FM

The opening of the Vientiane-Vangvieng section of the China-Laos expressway is expected to boost cross-border business and people-to-people exchange between the countries, said Chinese Foreign Ministry Spokesperson Zhao Lijian on Wednesday.
Source: Global Times | 2020/12/23 20:38:39

China very likely to be Apple's car production base: analysts

If a reported ambitious electric car plan by Apple is true, which is highly possible, the company is very likely to put its production base in China, whether it chooses the original equipment manufacturer (OEM) model like the iPhones that are manufactured by Foxconn, or sets up its own factory like Tesla, as China has the most integrated industry chain and the world's largest new-energy vehicle (NEV) market, some industry analysts said on Wednesday.
Source: Global Times | 2020/12/23 20:28:39

US crackdown on Chinese firms including SMIC puts global industry chain at risk: FM

China's Foreign Ministry again expressed concern over new US restrictions on Chinese chipmaker Semiconductor Manufacturing International Corp (SMIC) on Wednesday, saying that this move will do harm to global industry, supply and value chains.
Source: Global Times | 2020/12/23 19:32:08

China should differentiate regulation on fintech firms: former PBC official

Differentiated supervision measures should be implemented for the fintech sector in China according to levels of platform and technology companies, as well as the magnitude of the risk and who bears it, Wu Xiaoling, former vice governor of the People's Bank of China (PBC), the central bank, told reporters on Wednesday, according to media reports.
Source: Global Times | 2020/12/23 18:53:39

CNOOC's offshore oil production hits record high of 65 million tons

China's largest offshore oil producer CNOOC announced that China's offshore oil and gas production hit a record high of 65 million tons in 2020, becoming an important pillar for ensuring national energy security, according to a CCTV report.
Source: Global Times | 2020/12/23 17:18:40

Canada's vetoing Arctic gold mine acquisition is 'political inference': FM

Canada's unjustified veto of a Chinese company's commercial acquisition of a gold mine located within the Arctic Circle provoked a response from the Chinese Foreign Ministry, which criticized the Canadian government of politicizing regular business cooperation and engaging in political inference.
Source: Global Times | 2020/12/23 17:10:16

Tianjin University — Inspiring the extraordinary

Tianjin University, a prestigious center of teaching and research, has always been dedicated to inspiring outstanding students and empowering them to do amazing things in the world.
Source: Global Times | 2020/12/23 16:33:39

Two lawmakers urge U.S. to further tighten restrictions on China's SMIC

Two key Republican lawmakers on Tuesday urged the Trump administration to strengthen new rules adopted Friday aimed at preventing China's biggest chipmaker SMIC from getting access to advanced US technology.
Source: Reuters | 2020/12/23 15:58:40

Apple targets car production by 2024 and eyes 'next level' battery technology

Apple Inc is moving forward with self-driving car technology and is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology, people familiar with the matter told Reuters.
Source: Reuters | 2020/12/23 15:58:39

Ouster, maker of self-driving tech, agrees $1.9 billion deal to go public

Ouster Inc, a U.S. startup that makes lidar sensors for self-driving cars and smart cities, said on Tuesday it has agreed to go public through a merger with special purpose acquisition company (SPAC) Colonnade Acquisition Corp.
Source: Reuters | 2020/12/23 15:53:40

ByteDance in talks to buy stake in mobile games firm CMGE -sources

China's ByteDance is in talks to buy into mobile games publisher CMGE Technology Group Ltd, four people with direct knowledge of the matter told Reuters, as the owner of short video app TikTok moves to strengthen its next pillar of growth.
Source: Reuters | 2020/12/23 15:53:39

Domestic high-speed bullet cargo train rolls off production line

Led by CRRC Tangshan, and co-developed by several domestic companies, China's first high-speed bullet cargo train was finally completed at Tangshan, in North China's Hebei Province.
Source: Global Times | 2020/12/23 15:43:39

Yuan bills in HK oversubscribed by three times in vote of confidence in economy: PBC

The People's Bank of China (PBC), the country's central bank, announced on Wednesday that it has successfully issued 10 billion offshore bills in the Hong Kong Special Administrative Region (HKSAR), with global investors oversubscribing for the bill by three times in a vote of confidence in the Chinese economy.
Source: Global Times | 2020/12/23 15:33:39