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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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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

Britain's bow to US pressure on Huawei could stall 5G, worsen bilateral ties

It won't be smart for the UK to reverse its policy under US pressure and kick Chinese telecommunications firm Huawei out of its 5G rollout, as media reports claim. The nation can't afford the implications, from the industry impact to the harm done to the mutual trust in China-UK ties, experts warn.
Source: Global Times | 2020/5/26 22:48:40

China detected 100-million-ton oilfield in Bohai Bay

China National Offshore Oil Corp (CNOOC) announced the discovery of China's first 100 million-ton oilfield in Bohai Bay, a sea not far away from the industrial Beijing-Tianjin-Hebei region.
Source: Global Times | 2020/5/26 22:39:27

China able to mass produce 7-nm chips in two years, replace imports: analyst

Deputies to the National People's Congress (NPC) put forward suggestions to raise investment in the integrated circuit (IC) sector and speed up import substitution of chips, sparking confidence that Chinese companies will be able to mass produce 7-nanometer semiconductors in two years.
Source: Global Times | 2020/5/26 22:08:40

China to help push progress of R&D for COVID-19 vaccine

As Covid-19 continues to spread worldwide, more Chinese vaccine suppliers can participate in the research and development (R&D) into vaccines, helping to prevent and control the pandemic on a global scale, insiders said on the sidelines of the annual two sessions.
Source: Global Times | 2020/5/26 22:03:41

Hubei's economic recovery in focus

Supporting the economic recovery of Central China's Hubei Province, which was hit hardest by the coronavirus outbreak, goes beyond showing appreciation for the vital contributions and enormous sacrifices made by the local people.
Source: Global Times | 2020/5/26 22:03:40

Huawei's Meng likely to be freed if Canada has judicial independence: legal experts

Legal experts are cautiously optimistic toward a key ruling over Huawei Chief Financial Officer Meng Wanzhou's case set to be released on Wednesday, noting that Meng is “highly likely” to be freed from a purely legal perspective if Canada truly has the judicial system completely independent from any political influence, as it always boasts.
Source: Global Times | 2020/5/26 21:18:40

HKD's depreciation against greenback unlikely to be long-term trend, experts say

The Hong Kong dollar (HKD) has weakened relatively rapidly against the US dollar in recent days, reversing a strengthening trend in recent months.
Source: Global Times | 2020/5/26 18:38:40

China's domestically developed C919 jet receives 815 orders: chief designer

The development of the C919 narrow-body twinjet airliner is progressing as planned and in an orderly manner, said Wu Guanghui, National People's Congress (NPC) deputy and chief designer of the aircraft, on Tuesday.
Source: Global Times | 2020/5/26 17:18:40

Netizens laud the inclusion of employees from the express delivery sector in Wuhan's professional rank evaluation system

A total of 36 working staff members have been included in a professional rank evaluation system in Wuhan, Central China's Hubei Province, in the express delivery industry for the first time. The move became an instant talking point among Chinese netizens, as express delivery men have played an important role amid the epidemic outbreak.
Source: Global Times | 2020/5/26 16:18:40

Fuqing-5 nuclear reactor will go into operation this year: CNNC

The Fuqing-5 nuclear reactor will be put into operation by the end of 2020, according to the China National Nuclear Corporation (CNNC).
Source: Global Times | 2020/5/26 16:08:42

Banks pursue Luckin Coffee chairman's assets after loan default

The banks that lent $518 million to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.
Source: Reuters | 2020/5/26 16:08:41

COVID-19 pandemic overshadows historic reforms in the country

The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer.
Source: Reuters | 2020/5/26 16:08:40