BEIJING — China’s e-commerce sector has reported steady growth in the first quarter of the year, boosted by the country’s pro-consumption policies such as its large-scale consumer goods trade-in program, the Ministry of Commerce said on Monday. Official data shows that China’s online retail sales totaled 3.6 trillion yuan ($499.6 billion) in the first quarter,…
BEIJING — China’s bank wealth management market enjoyed steady growth momentum in the first quarter, industry data indicated on Tuesday. The balance of wealth management products stood at 29.14 trillion yuan ($4.04 trillion) at the end of March, up 9.41 percent year-on-year, according to the latest data provided by the China Banking Wealth Management Registration…
China is gearing up for a new phase of coal power upgrades to hasten its transition toward cleaner and greener energy, said officials and experts on Monday. This round of upgrades will focus on enhanced peak-shaving capability, strong support for volatile new energy power, high resilience and lower emissions. It proposes key tasks in four…
Cainiao Group, the logistics arm of Chinese tech heavyweight Alibaba Group, on Tuesday announced the launch of a cross-border “green channel” designed to help the country’s exporters expand their footprint in overseas markets in response to new rounds of United States’ tariff hikes. Leveraging its network of over 40 overseas warehouses in Europe, the US,…
Merchants visit the “Invest in China” area of the 24th China International Fair for Investment and Trade (CIFIT) in Xiamen, Fujian province, Sept 8, 2024. [Photo/Xinhua] China is stepping up efforts to attract foreign capital and deepen two-way investment cooperation, underscoring the nation’s firm commitment to high-level opening-up and the vast potential of its market…
A billboard on a building in Shanghai shows major stock indexes on Monday. [CHINA DAILY] With rising strategic importance in terms of improving expectations and boosting confidence, China’s capital market now provides opportunities for both Chinese and foreign investors as global economic growth stagnates due to Sino-US trade frictions, experts said. Their comments followed messages…
China will accelerate the expansion of the service sector’s opening-up, a practical action meant to inject more certainty and stability into the world in light of intensifying global unilateralism and protectionism, the Ministry of Commerce said on Monday. The ministry has issued a guideline for accelerating the implementation of a comprehensive pilot program to expand…
An outlet of McDonald’s in Guangzhou, Guangdong province.[CHINA DAILY] Many innovative products are on display at the 137th China Import and Export Fair in Guangzhou’s Pazhou Complex. But one of the world’s renowned past innovators is there, too. That innovator is McDonald’s, whose standardized menus and cooking methods have evolved into what is arguably the…
A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua] Despite facing a substantial external demand gap caused by US tariffs, keeping the renminbi exchange rate generally stable as much as possible should remain the best option for Chinese policymakers, said leading economists and policy advisers.…
ENN LNG (Singapore) Pte Ltd has signed a long-term LNG Sale and Purchase Agreement (“SPA”) with ADNOC. [Photo/enn-ng.com] ENN LNG (Singapore) Pte Ltd, said on Monday that it has signed a long-term LNG Sale and Purchase Agreement (“SPA”) with ADNOC, the largest LNG deal by volume ever signed between the UAE and a Chinese partner.…