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China partially outperforms US in digital economy: CICC report

The size of China's digital economy still pales in comparison with that of the US in broad terms, but China outshines the US in especially e-commerce and mobile payment, according to a research report by China International Capital Corporation (CICC) on Thursday.
Source: Global Times | 2020/9/24 13:56:37

US government faces historical legal challenge from US automakers over China tariff

The US government is facing historical legal charge from some of the most prominent American vehicle makers, including Tesla, Volvo, Ford and Mercedes-Benz, who are suing the US government over the tariff imposed on Chinese products.
Source: Global Times | 2020/9/24 12:20:37

Tesla China refutes rumor that vegetable 'leek' is a taboo in company culture

Tesla China responded to the rumor that “jiucai” or leek, a garlic taste vegetable is a taboo in the company culture on Wednesday.
Source: Global Times | 2020/9/23 20:03:17

Chinese liquor brands warned over price hikes ahead of holidays

The stock price of China's leading liquor brand Kweichow Moutai opened 0.65 points lower on Wednesday after the regulatory authorities called for caution over price hikes of Chinese liquor for the fear of a rise in use of public funds for banquets and gifts ahead of the upcoming holidays.
Source: Global Times | 2020/9/23 13:31:56

Demand for refined oil set to peak in 2025

Demand for refined oil products in China is expected to peak in 2025, as energy efficiency increases, the global economy faces downward pressure and new-energy vehicles form a new transport order, according to a recent report by the China National Petroleum Corp, the country's largest oil producer. These products, including gasoline, diesel and jet fuel, have fueled modern transportation, the global economy and geopolitics as well as climate issues, and the world is speeding up a new round of energy progress, aiming for clean, efficient, and safe energy systems.
Source: Global Times | 2020/9/23 0:48:58

Chinese city Dongguan's recovery amid pandemic secures world's mask supply

As China contains the COVID-19 pandemic, the country's business operations and industrial activities are on course for a full recovery. On a trip to the southern city of Dongguan, known as "the world's factory", the Global Times found that the city's integrated industrial chains and efficient local government have not only helped the city's economy recovery, but also played a vital role in the global economy via its PPE supplies. For more stories, please scan the QR code.
Source: Global Times | 2020/9/22 17:50:40

US stocks fall on sour recovery outlook

US stocks fell on Monday for the third consecutive session in a row due to the spike of coronavirus infection cases in Europe and rising uncertainty on negotiations with the next round of fiscal stimulus in the United States, with the Dow losing as much as 942.27 points during the session before a narrowed end.
Source: Xinhua | 2020/9/22 9:43:22

China injects 210 bln yuan liquidity into market

China's central bank pumped a net amount of 210 billion yuan (about 31.1 billion US dollars) into the country's banking system via open market operations during the last week to maintain liquidity at a reasonable level.
Source: Xinhua | 2020/9/21 13:36:02

Instant food regains market share with surging profits amid pandemic

Instant food consumption in the first five months of 2020 surged 150 percent year-on-year, particularly in February where consumption skyrocketed 2130 percent year-on-year, according to data from a recent meeting, launched by the fast food industry.
Source: Global Times | 2020/9/20 15:02:27

China issues rules for unreliable entity list amid US crackdowns

China's Commerce Ministry on Saturday launched its unreliable entity list mechanism that could severely punish foreign entities and individuals for undermining China's sovereignty, security and development interests. The move comes as the US has sanctioned over 300 Chinese firms.
Source: Global Times | 2020/9/19 10:48:54

China rolls out new measures to boost reform and development of SOEs and private businesses

China will take solid steps in implementing the three-year action plan for SOE reform, and make more efforts to create a level playing field for private firms, the State Council's executive meeting chaired by Premier Li Keqiang decided on Thursday.
Source: Xinhua | 2020/9/18 14:19:26

China, Nordic countries expect more tech cooperation

Against the backdrop of the rising tensions over unilateralism and the global recession, China and the Nordic countries are embracing multilateralism by accelerating exploration of science and technology cooperation on smart cities in which both sides find more reciprocal benefits for growth.
Source: Global Times | 2020/9/17 17:57:40

Chinese plants go 'smart' to turn manufacturing tide

For a long time, China has been searching for a solution to the challenge faced by its manufacturing industry, which is that many of its comparative advantages such as low labor costs and high productivity levels are being lost to other emerging markets like Vietnam and Cambodia. Now, a solution might be taking shape in the form of "smart" manufacturing plants.
Source: Global Times | 2020/9/17 0:01:56

Duty-free sales in Hainan top $1 billion in two months, boosting confidence to build global tourism, shopping center

Tourism analysts estimate the duty-free shopping in Hainan will become a highlight during the upcoming National Day holiday in early October which will give Chinese an eight-day break. Along with an anticipated tourism boom, China's duty-free shopping market is likely to further expand.
Source: Global Times | 2020/9/16 18:50:56

COVID-19 outbreak in Chinese border city puts $1.5b diamond trade at risk

A recent outbreak of the novel coronavirus in Ruili, Southwest China's Yunnan Province, has led to a lockdown in the city that borders Myanmar, putting the local diamond business worth 10 billion yuan ($1.5 billion) at risk, according to media reports on Tuesday.
Source: Global Times | 2020/9/16 17:08:42

China extends bond market trading hours to cover Europe, US time zones

Chinese bond market officials announced on Tuesday that they will extend trading hours for interbank markets by three hours, as part of an effort to make it easier for global investors to participate in the country's bond market as global demand for Chinese bonds is on a steady rise.
Source: Global Times | 2020/9/15 23:09:25

China launches anti-subsidy probe on imports of US-made glycol ether

China launched an anti-subsidy probe on US-made glycol ether on Monday, two weeks after it launched an anti-dumping investigation on the imports, a move that shows China's attitude to maintain fair competition in the market while trading with the US, experts said.
Source: Global Times | 2020/9/14 16:23:40

China's farm produce trade deficit expands in Jan-July

China's agricultural products trade reported a deficit of 54.29 billion U.S. dollars in the first seven months of 2020, up 30.9 percent year on year, official statistics showed.
Source: Xinhua | 2020/9/12 23:27:54