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China releases 2020 catalogue of industries that encourage foreign investment

China released the 2020 catalogue of industries that encourage foreign investment on Monday. The new version will be effective from Jan 27, 2021.
Source: Global Times | 2020/12/28 16:09:06

Chinese companies see rising profits despite fallout of COVID-19 outbreak in 2020

A total of 641 firms listed on China's A-share market, as of Friday, released performance forecasts for 2020. More than 40 percent are predicting positive growth, despite the fallout of the COVID-19 pandemic, according to information released by Wind, a financial information database.
Source: Global Times | 2020/12/27 17:38:39

China's top market watchdog completed on-site investigation into Alibaba on Thursday, local authority told media

The market watchdog in E China's Zhejiang revealed that an investigation team from the State Administration for Market Regulation arrived Thu at Alibaba to open a probe ; the on-site investigation was completed on the same day.
Source: Global Times | 2020/12/27 13:25:15

Beijing-Xiong'an high-speed transit system launched, to run at 350 km/h

Starting at Beijing West Railway Station and connecting Beijing's Daxing International Airport and Xiong'an New Area in Hebei Province, Beijing-Xiong'an Intercity Railway is now fully opened as of Sunday.
Source: Global Times | 2020/12/27 12:34:02

641 companies release performance forecast, more than 40% expect positive growth

A total of 641 firms listed on China's A-share market, as of Friday, released performance forecasts for 2020. More than 40 percent of them predict positive growth despite the fallout of the COVID-19 pandemic, reports said.
Source: Global Times | 2020/12/26 15:26:14

China launches antitrust probe into Alibaba in a move to commit platform economy to more sustainable growth

China's top market watchdog said on Thursday it has launched a probe into e-commerce giant Alibaba's suspected monopolistic acts including forcing merchants to choose one platform between two competitors, in a move that is believed to aim at protecting consumers rights and fairness in market competition to ensure sound, long-term development of a massive part of China's economy.
Source: Global Times | 2020/12/24 22:43:39

Recovery speed of Tibet's tourism industry topped China's provinces

Tibet's tourism industry has recovered 98 percent when compared with the same period in 2019. The recovery speed of Tibet's tourism industry is ahead of all parts of China, the China Daily reported on Thursday.
Source: Global Times | 2020/12/24 14:38:40

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

US move to publish list of Chinese companies with alleged military ties threatens global industrial supply chain

Tensions between China and the US have not been cooling, and the Trump administration recently escalated the situation by releasing list of Chinese enterprises that allegedly have military connections.
Source: Global Times | 2020/12/22 22:38:39

Polish dairy exports to China growing 70% in 2020: Embassy

As the fifth largest dairy producer in Europe, Poland's dairy products are popular among Chinese consumers. According to statistics provided by the Polish Ministry of Finance, Polish dairy products exported to China in 2020 rose 70 percent year-on-year.
Source: Global Times | 2020/12/22 15:48:40

Regulatory brake on fintech deposit products to weigh on smaller banks

Chinese regulator's move to halt deposit products on major fintech platforms will weigh heavily on small banks, especially private ones, which rely on the third-party platforms to attract deposits.
Source: Global Times | 2020/12/21 20:10:27

China builds first mRNA vaccine production base in Yunnan Province

China's first mRNA COVID-19 vaccine production plant will be built in Yuxi, southwestern China's Yunnan province, which is expected to produce 120 million doses of the vaccine per year when the plant is completed.
Source: Global Times | 2020/12/21 17:08:40

Industrial upgrade in China's factory zone Dongguan eases labor shortages

A push for industrial upgrading has led to an increase in automated production lines in Dongguan, one of the world's leading factory zones, in South China's Guangdong Province, helping to address persistent labor shortages.
Source: Global Times | 2020/12/20 22:21:27

Financial platforms in China should be strictly regulated: former minister of finance

Former finance minister Lou Jiwei said on Sunday that if a single digital financial platform takes up too big of a market share, it may eventually lead to a large number of bad loans.
Source: Global Times | 2020/12/20 15:58:39

China's middle-income population to rise to 800 million by 2035: MOFCOM

China's middle-income population will rise steadily and may reach 800 million in the next 15 years, said Qian Keming, vice minister of commerce of China, over the weekend, adding the country's 1.4 billion population, buoyed by a booming economy, will make them a significant consumption force in the world.
Source: Global Times | 2020/12/20 11:35:58

China unveils security review on foreign investment for better opening-up

China's National Development and Reform Commission (NDRC), the country's top planner, and the Ministry Commerce announced on Saturday to issue new measures on the security review of foreign investment affecting national security, which will come into effect from January 18 2021.
Source: Global Times | 2020/12/19 19:29:21

5G technology now part of China's refining and chemical industry

5G technology has been integrated into the petrochemical industry in South China's Hainan Province. 22 5G base stations are expected to be complete in 2021, according to Chinanews.
Source: Global Times | 2020/12/17 17:28:41

Cargill staff members in Anhui Province tested negative for COVID-19

All staff members at Anhui provincial branch of agribusiness company Cargill and the collected environment samples there, were tested negative after one of the company's locally-produced chicken legs tested positive on Tuesday, the company told the Global Times on Thursday.
Source: Global Times | 2020/12/17 13:25:29