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NEV sales to reach 20% of total auto sector by 2025: State Council

China will significantly boost the new-energy vehicle (NEV) sector over the next 15 years, aiming to raise the proportion of this segment to 20 percent of total new auto sales by 2025, and make NEV sales mainstream by 2035, with all public-sector vehicles to be NEVs, according to a new development plan released on Monday.
Source: Global Times | 2020/11/2 19:44:47

US securities firm JPMorgan one step closer to becoming first wholly foreign-owned securities firm in China

US securities firm JPMorgan is one step closer to becoming the first wholly foreign-owned securities firm in China as the country increases efforts to open up its financial markets.
Source: Global Times | 2020/11/2 10:19:00

IPOs to enter era of full registration, delisting process to be normalized

China plans to phase in a registration system for all IPOs and establish a normalized de-listing mechanism, according to a special government meeting on Saturday.
Source: Global Times | 2020/11/1 20:23:40

Huawei Mate 40 series in short supply due to choke on microchips

Huawei's Mate 40 series smartphone, unveiled on Friday in China, is in very short supply due to the release of the new product coinciding with China's “Double 11” shopping festival, as well as depleting microchips inventory.
Source: Global Times | 2020/11/1 16:52:54

100 brands make 100 million yuan just 111 minutes after Tmall Singles' Day shopping spree kicks off

Online retailers have set new sales records with the launch of this year's Singles' Day shopping spree, demonstrating China's solid economic recovery from COVID-19.
Source: Global Times | 2020/11/1 11:56:09

TikTok ban meets another setback in US court, a victory for creators

The executive order issued by the Trump administration to ban Chinese video-sharing app TikTok encountered another setback following a US federal judge's ruling blocking the administration from outlawing TikTok's US operation, which was set to take effect on November 12.
Source: Global Times | 2020/10/31 15:01:03

UK to showcase over 100 brands in China International Import Expo

More than 100 British brands will be showcased in the upcoming China International Import Expo (CIIE) as Britain and China "share a global outlook" and London sees the upcoming event in China as "a unique opportunity" to further its commercial ties with Beijing, the British government said Friday.
Source: Xinhua | 2020/10/31 11:30:42

Shanghai applies stringent controls on CIIE cold-chain food exhibits

Authorities in Shanghai have strengthened the epidemic prevention and control of cold-chain food exhibits at the upcoming China International Import Expo (CIIE), imposing strict controls on warehousing, inspection, delivery and display.
Source: Xinhua | 2020/10/30 13:54:38

Portugal opens arms to welcome Chinese investment: Embassy

Portugal is opening arms to Chinese investment, encouraging Chinese businesses to set up European headquarters in Portugal, said the investment counselor at the Portuguese Embassy in Beijing.
Source: Global Times | 2020/10/29 17:28:40

US likely eases curb on supplies to Huawei, but not its 5G business

US is reportedly allowing sales of semiconductor chips to Huawei's non-5G businesses, which analysts claim will not address the major problem Huawei is now facing, particularly Huawei's 5G smartphones.
Source: Global Times | 2020/10/29 15:21:26

Yuan may rise further after counter cyclical factor phase-out

Despite a dropping mid-point reference rate on Wednesday, the yuan, riding a cycle of appreciation now, is likely to rise further in the long run since China has announced plans to phase out the counter-cyclical factor in its reference rate system, experts said.
Source: Global Times | 2020/10/28 19:23:42

Profit decline in China's industrial enterprises narrows

Total profit of industrial companies above designated scale in China in the first nine months of the year dropped 2.4 percent year-on-year, according to the National Bureau of Statistics (NBS) on Tuesday, narrowing 2 percentage points from the decline during the January to August period.
Source: Global Times | 2020/10/27 12:51:08

China's Hainan sees more market entities

Southern China's island province of Hainan saw an increase in the number of market entities in the first three quarters of this year, particularly after the release of a master plan for the Hainan free trade port.
Source: Xinhua | 2020/10/27 10:18:04

Officials vows to carry out institutional financial change

At a time when China is under the pressure of economic decoupling from the US government, and its own challenges arising from domestic economic structural upgrade, some top government officials stressed in recent days that the country will not only continue to open up financially, but also enhance the level of reform with a shift to "institutional opening."
Source: Global Times | 2020/10/25 20:23:40

Canton Fair boosts export, import and domestic sales

The 128th Canton Fair - formally known as the China Import and Export Fair - ended on Saturday after a successful online turnout, despite concerns over the global impact of the COVID-19 pandemic on trade shows.
Source: Global Times | 2020/10/25 17:28:41

Overseas investors' holdings of yuan bonds, stocks up 47%

Overseas investors have been increasing their holdings of Chinese bonds and stocks by 47 percent in the first three quarters in 2020, demonstrating unabated confidence in China's financial market, official data showed Friday.
Source: Global Times | 2020/10/23 15:13:04

Chinese gastronomes' wait for Mongolian sheep ends

First batch of 4,000 sheep donated by Mongolia have arrived at Erenhot, North China's Inner Mongolia Autonomous Region, on Thursday after passing 30-day quarantine.
Source: Global Times | 2020/10/22 17:07:57

China pledges to build open, transparent capital market system: regulator

China will put in place an open and transparent capital market system, keep its hands off matters that are not subject to regulation, and foster a healthy market ecosystem, the head of the country's securities regulator said Wednesday.
Source: Xinhua | 2020/10/22 12:03:51