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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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Universal Beijing Resort progressing smoothly amid COVID-19, preparing to open in 2021

Despite the COVID-19 pandemic, construction of the highly anticipated Universal Beijing Resort is progressing smoothly at its set pace, preparing to open next year.
Source: Global Times | 2020/5/27 16:25:17

Chinese Embassy in Kenya refutes reports of firm being kicked out of rail operation

The Chinese Embassy in Kenya said that recent media reports suggesting the Kenya government was urged to stop a Chinese company from running rail lines in the country were untrue.
Source: Global Times | 2020/5/27 15:11:07

Quality key to China's medical supplies, misunderstanding won't hold country's exports back

When China is making its utmost efforts from guiding market players to expand production to organizing experts to set industry rules on exports of medical supplies, in order to deliver badly-needed medical goods abroad promptly, some Western media are busy faulting China, citing "quality issues."
Source: Global Times | 2020/5/27 14:53:43

France announces 8-bln-euro plan to rescue ailing car industry

French President Emmanuel Macron on Tuesday unveiled an eight-billion-euro (8.78 billion U.S. dollars) rescue plan to help the recovery of the domestic auto industry hit hard by the anti-coronavirus lockdown. The plan focuses on the production of environmentally friendly vehicles.
Source: Xinhua | 2020/5/27 14:41:40

Chinese researchers find human neutralizing antibody targeting COVID-19 receptor binding site

Chinese researchers have found a human neutralizing antibody targeting the receptor binding site of SARS-CoV-2, publishing their results on the Nature website on Tuesday. The discovery moves forward China's efforts to ramp up its independent research and development of an antibody drug to fight COVID-19.
Source: Global Times | 2020/5/27 12:18:40

China makes breakthrough in carbon-based semiconductor materials

Chinese researchers have made a breakthrough in carbon-based semiconductor materials with higher efficiency and lower costs compared to silicon-based materials, marking a step forward in the domestic chip industry.
Source: Global Times | 2020/5/27 12:08:40

China's industrial profits drop 4.3% in April, slower pace than March

Profits of China's industrial firms above designated scale contracted in April but at a slower pace than last month, with more than half of the sectors seeing growth, suggesting domestic production is being gradually resumed amid the COVID-19 pandemic.
Source: Global Times | 2020/5/27 11:25:24

HKEX-MSCI futures agreement further enhances Hong Kong's financial hub status

The Hong Kong Futures Exchange has signed an agreement with MSCI Inc to license a suite of MSCI indexes in Asia and Emerging Markets for the introduction of futures and options contracts in the market. This goes against projections that the National Security Law will shake the city's status as a global financial center.
Source: Global Times | 2020/5/27 10:58:40

Japanese business group asks for special visa arrangement with China, but Abe casts shadow on bilateral ties

A Japanese business organization is calling for a green channel for business travel between China and Japan to help Japanese companies in China resume full operations, but recent comments by Japanese Prime Minister Shinzo Abe on the COVID-19 pandemic have cast a shadow on bilateral ties, with China firmly pushing back.
Source: Globaltimes.cn | 2020/5/27 3:10:50

Australia to face backlash over attitude toward Huawei: experts

The backlash that Australia could face due to its attitude toward Chinese telecom giant Huawei will remain no matter what the UK's final decision on Huawei is, Chinese experts warned Tuesday, after Australia hailed the UK's decision to review its use of Huawei technology.
Source: Global Times | 2020/5/27 0:35:53

Passing away of China's casino magnate triggers heated web discussion over his family fortune division

A discussion heated up on China's social media platforms over how the gigantic family fortune of Stanley Ho Hung-sun, China's "King of Gambling", will be divided among his wives and children after the gaming mogul passed away on Tuesday.
Source: Global Times | 2020/5/26 23:23:41

Australian LNG exports to Chinese market at crossroads as trade tensions intensify

A healthy bilateral relationship will be important to Australian liquefied natural gas (LNG) exports to China, which will be the only meaningful market in the coming decade but one that is undergoing a structural change, Chinese industry insiders said on Tuesday.
Source: Global Times | 2020/5/26 22:58:40

Flight tit-for-tat will hit many US firms

US airlines might be taking the most direct and biggest blow from the suspension of flights to China, but other US businesses in a wide range of sectors such as Apple and Qualcomm are also taking a hit. Those companies have become an important driving force in pushing for resumption of flights to China, insiders said on Tuesday.
Source: Global Times | 2020/5/26 22:53:40