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Regulatory approval for Ant Group's Shanghai IPO clears path to create a Chinese rival to FAAMG

China's securities regulator announced Wednesday that it has green-lit fintech giant Ant Group's registration-based IPO in the STAR Market in Shanghai, clearing the path for the creation of a Chinese rival of the US tech super league, FAAMG.
Source: Global Times | 2020/10/21 23:33:47

Global brands eye China's biggest e-commerce shopping spree to boost sales

With China's biggest e-commerce gala, the Double Eleven (November 11), or the Single's Day, shopping spree approaching, international brands are seeing the shopping event as an important opportunity to boost their annual sales in one of the world's largest consumer markets.
Source: Global Times | 2020/10/21 18:18:41

China eyes world's biggest shopping spree amid pandemic

Just as new data highlighted China's solid economic recovery from COVID-19 and injected fresh confidence in consumers and businesses, Chinese online shopping platforms are rushing to prepare for what could be the world's biggest shopping spree this year, setting up the stage for the world still under a dark cloud from the pandemic to witness yet another miracle of the Chinese economy from the deadly virus.
Source: Global Times | 2020/10/20 20:11:04

Chinese customs clears 3,626 Australian cattle amid rising tensions

About 3,600 high-quality Australian cattle have entered China through Qinzhou Port, in South China's Guangxi Zhuang Autonomous Region last week – a move that signals ongoing trade between China and Australia despite foreign media's accusations that China is imposing “political revenge” through a trade ban.
Source: Global Times | 2020/10/20 13:05:51

China creates 8.98m urban jobs, meeting 99.8% of annual target

China has already met 99.8 percent of this year's target to create 9 million urban jobs in the first 9 months of 2020, a Chinese official has said on Monday, describing the country's job market as "stable."
Source: Global Times | 2020/10/19 15:38:40

China's stock market opens high on Monday with Q3 GDP report

China's stock market opened high on Monday as China released its Q3 GDP report, with the economic rebound sending the market toward its highest point in two years.
Source: Global Times | 2020/10/19 12:11:37

Chinese spying in Africa through infrastructure projects is 'groundless' accusation: Chinese embassy

Accusations that the Chinese government is spying in Africa are completely "groundless", according to the Chinese embassy in Ghana.
Source: Global Times | 2020/10/18 11:02:23

RCEP agreement to be inked in November: Thai ministry

Thailand's Ministry of Commerce said on Friday that the Regional Comprehensive Economic Partnership (RCEP) agreement is ready to be signed in November, and is expected to take effect in the second half of next year.
Source: Xinhua | 2020/10/17 9:08:13

Import expo shows trust in China's economy: expert

The upcoming third annual China International Import Expo (CIIE) is a demonstration of the confidence countries and enterprises have in the vitality of the Chinese economy after the country overcomes the COVID-19 pandemic, an expert said on Friday.
Source: Xinhua | 2020/10/17 8:28:43

China's GDP expected to grow 5%, 7% in last two quarters

When a sudden coronavirus outbreak almost halted the Chinese economy late January, few people expected the "normal day" could come so soon. China's GDP is estimated to grow above 5 percent in the third quarter of the year, and a much faster pace in the fourth quarter. It's a sign that the world's second-largest economy is further back on track while others were still in trouble, according to economists and agencies ahead of an official announcement on Monday of third quarter economic figures.
Source: Global Times | 2020/10/16 20:38:40

Sino-Italian conference on BRI highlights mutual opportunities

Business opportunities at bilateral level and along the China-proposed Belt and Road Initiative (BRI) have become the spotlight of a two-day virtual conference which closed in Italy on Thursday.
Source: Xinhua | 2020/10/16 10:54:29

China able to ensure grain self-sufficiency, while still needs imports

China can absolutely ensure its domestic grain supply, but still needs imports and multiple import sources due to structural problems and offering market for other countries, which will be a long-term trend in China's grain strategy, Chinese officials and agricultural experts said.
Source: Global Times | 2020/10/15 18:02:09

Netizens support iPhone's use of China-developed BeiDou system

Apple's new 5G-enabled iPhone 12, which is equipped with a China-developed navigation system for the first time, raised heated discussion among Chinese users after the launch event on Wednesday against the backdrop of rising tension amid a China-US trade and technology war.
Source: Global Times | 2020/10/14 21:53:40

China's rare earth still needs an edge up in technology for high-end products

China is the world's biggest supplier of rare-earth elements, the crucial component in an array of high tech and military applications. However, due to a lack of technology patents – which would transform the production chain from mining and extraction to more value-added products – the industry continues to be cursed by thin margins and illegal mining and exports.
Source: Global Times | 2020/10/13 23:18:01

Exports firing on all cylinders in Q3

The world's factory hummed “unexpected strongly” in the third quarter as China posted a record 10.2-percent increase in exports amid the spread of COVID-19 globally, with foreign demand warming up and domestic manufacturing activity getting back to normal.
Source: Global Times | 2020/10/13 18:48:40

Digital push to power economic shift

China's push to digitize its economy, a pivot of the nation's economic resilience despite the virus assault, is envisioned to power its shift from being a global factory floor to the world's trendsetter in innovation, officials and business executives said on Monday.
Source: Global Times | 2020/10/12 21:48:40

Huawei faces tough competition in home devices market

Huawei may face intense competition in the domestic devices market against rivals including Xiaomi, OPPO and Vivo, as well as US brand Apple, if the US semiconductors supply ban on the company stays in place, industry observers say.
Source: Global Times | 2020/10/12 19:38:40

Apple suppliers deny shifting supply chains out of China

China will retain its important role in Apple's supply chains despite rumors in foreign media claiming that the suppliers of the US high-tech company are shifting production out of China amid mounting global uncertainties.
Source: Global Times | 2020/10/12 19:33:40