China will continue to steadily expand high-level financial opening and help build a more equitable, inclusive, and resilient global financial governance system, Pan Gongsheng, governor of the People’s Bank of China, the country’s central bank, said on Friday. Pan made the remarks at a news conference of the fourth session of the 14th National People’s…
People walk past the booth of Qwen during the 2026 Mobile World Congress (MWC) in Barcelona, Spain, March 2, 2026. [Photo/Xinhua] Chinese tech heavyweight Alibaba Group is reorganizing leadership and stepping up resources around its Qwen large language model following the departure of a key technical leader, as competition intensifies among China’s major tech companies…
China expressed serious concern on Friday after the European Union released a new legislative proposal imposing restrictive conditions on foreign investment in several emerging strategic industries, warning that the measures could create investment barriers and undermine fair competition, according to China’s Ministry of Commerce. The European Commission unveiled the Industrial Accelerator Act on Wednesday, introducing…
In a strategic push to accelerate the internationalization of its commerce sector, Linyi in Shandong province is leveraging the Belt and Road Initiative to evolve from a national trading hub into a global one. “In 2025, we organized 1,667 enterprises to explore overseas markets in countries involved in the Belt and Road Initiative and hosted…
Chinese Commerce Minister Wang Wentao attends a press conference for the fourth session of the 14th National People’s Congress on economy in Beijing, capital of China, March 6, 2026. [Xinhua/Li Xin] China will expand imports of agricultural products, high-quality consumer goods, advanced technological equipment, and key components, as part of efforts to promote a more…
President Xi Jinping (center), who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, and other leaders attend the opening meeting on Thursday of the fourth session of the 14th National People’s Congress, China’s top legislature, at the Great Hall of the People in Beijing.…
Visitors check out smart watches at Huawei’s global flagship store on Nanjing Road, Shanghai, on Feb 27. WANG GANG/FOR CHINA DAILY The Spring Festival holiday has concluded, but one of the clearest consumption signals is likely to endure: the holiday spending surge was defined less by lavish feasts and luxury gifts and more by a…
China’s artificial intelligence industry has entered what could prove to be a defining phase in its competition with the United States, with leading domestic large language models now matching top-tier US systems in performance, said Yu Xianrong, head of Greater China Economics at Citi. The rapid progress in AI and broader technological innovation are among…
A worker works at an assembly line of Voyah, a Chinese NEV brand, in Wuhan, Central China’s Hubei province, April 9, 2025. [Photo/Xinhua] China’s factory activity contracted for a second consecutive month in February, official data showed on Wednesday. The official purchasing managers index (PMI) for the manufacturing sector came in at 49 in February,…
The Chinese automotive industry is moving away from vicious competition, or “involution”, toward a more sustainable and quality-focused development model, Li Shufu, a member of the National Committee of the Chinese People’s Political Consultative Conference, said. Speaking to China Daily on Tuesday, Li, who is also the chairman of Geely Holding Group, highlighted a significant…