China’s general public budget revenue grew 2.4 percent year-on-year in the first quarter, hitting a three-year high for the January-March period, the Ministry of Finance said on Friday. Revenue came in at 6.16 trillion yuan ($901.6 billion), an acceleration of 1.7 percentage points from the January-February level, Wang Jianxun, director of treasury payment center with…
MACAU Pass, a Macao-based fintech platform, has launched its self-developed AI-powered payment integration tool, the AI Payment Assistant, making it available to local merchants, developers and ecosystem partners. The tool enables users to complete payment integration through natural-language prompts, reducing the need for manual coding and technical coordination, according to the company. Developers can, for…
China sold its first batch of ultra-long-term special treasury bonds for 2026 on Friday, raising 119 billion yuan ($17.4 billion) to fund major national projects and programs, according to the Ministry of Finance. Qu Fuguo, deputy director of the ministry’s asset management department, said at a news conference that the government will “front-load” the issuance…
Flights to Malaysia are set to surge during China’s upcoming May Day holiday, leading growth among Southeast Asian destinations as outbound travel demand continues to increase, industry data has shown. According to Chinese civil aviation data provider Flight Master, as of Thursday airlines have scheduled more than 100 additional flights to Malaysia for the five-day…
China has allowed qualified foreign investors to participate in treasury futures trading starting Friday, in a move aimed at enhancing the appeal of renminbi-denominated bond assets. The policy, announced on Friday by the China Securities Regulatory Commission in consultation with the People’s Bank of China and the State Administration of Foreign Exchange, will permit participation…
The news conference of Shanghai’s Double Five shopping festival which will officially kick start on April 30. [Photo provided to chinadaily.com.cn] The Double Five shopping festival, an annual shopping fiesta featuring business debuts, product launches and themed activities, will be officially launched on April 30, as part of Shanghai’s efforts in building an international consumption…
First-quarter data highlights the resilience China’s economy has demonstrated in recent years, despite significant uncertainties surrounding global trade and geopolitics. Jeremy Zook, lead analyst for China at Fitch Ratings, noted that overall, the economy has weathered these headwinds effectively. While exports remain a key driver of growth, a rebound in imports in the first quarter…
China’s Ministry of Commerce has announced that seven European Union entities are being placed on the country’s export control list, banning them from receiving dual-use items which can have both civil and military applications. Chinese exporters are prohibited from shipping dual-use items to the listed entities, while overseas organizations and individuals are also barred from…
WeChat Pay logo seen at Frankfurt Airport in Germany. MA JIAN/FOR CHINA DAILY BEIJING — Chinese digital payment platform WeChat Pay has announced that users can now make payments in five countries — South Korea, Sri Lanka, Thailand, Malaysia and Singapore — by scanning local QR codes. This means that in these countries, users no…
China’s rapid transformation toward smart living and its edge in electric vehicle manufacturing and usage are factors that are reshaping the global automotive landscape and redefining market opportunities as well as industrial innovation pathways, industry experts said. “China is no longer just a market for deployment, but a critical hub for innovation and outbound growth,”…