Despite the slowdown in GDP, a deeper look at the statistics may provide reason for optimism At first glance, China’s third-quarter economic performance doesn’t grab much attention. According to the National Bureau of Statistics, GDP growth slowed to 6.5 percent year-on-year, the lowest since the first quarter of 2009, early in the global financial crisis.…
Economy expanded 6.7% in the first three quarters, with per capita disposable income rising by 8.8% China’s GDP growth eased to 6.5 percent year-on-year in the third quarter, the lowest in nearly 10 years, but the fundamentals remain stable, since the country has taken a series of measures such as tax cuts to revitalize the…
The intensifying trade and investment ties between China and partners in the Belt and the Road Initiative are likely to bring increased adoption of the renminbi as a trade and investment financing currency, an expert says. China and its BRI partners could reduce transaction costs by using the RMB, or yuan, as a trade settlement…
China Semiconductor Industry Association said on Thursday that it will firmly support both domestic and foreign semiconductor enterprises to safeguard their legitimate rights, including raising anti-dumping investigations in response to unfair competition from imported US products. The association said that the domestic mature-process chip sector has raised concerns with the Ministry of Commerce about unfair…
A bird’s eye view of the BASF Zhanjiang Verbund site. [Photo provided to chinadaily.com.cn] Zhanjiang in Guangdong province is accelerating the construction of a modern coastal economic belt and a provincial subcenter city with high standards. Yu Gang, Party secretary of Zhanjiang, said the city would also advance cooperation with Hainan island, the country’s biggest…
Editor’s note: This year marks the 40th anniversary of the launch of China’s reform and opening-up policy. China Daily profiles people who experienced or witnessed the important drive. Esteemed author says nation’s development model can be a blueprint for emerging economies China’s rapid growth since the reform and opening-up process began in 1978 has not…
The added value of Shanghai’s financial industry jumped 6.9 percent year-on-year to 659.12 billion yuan ($89.9 billion) in the first three quarters of 2024, Zhou Xiaoquan, executive deputy director of Shanghai Municipal Bureau of Finance, said at a news conference on Thursday. The growth rate was 1.7 percentage points higher than the average number of…
China Southern Airlines signs a codeshare agreement with Air Serbia to enhance air connectivity between China and the European nation. [Photo provided to chinadaily.com.cn] China Southern Airlines, one of the country’s three major airlines, has recently signed a codeshare agreement with Air Serbia to enhance air connectivity between China and the European nation. According to…
BEIJING — China unveiled an action plan on Wednesday detailing subsidy measures for purchasing new smartphones and other digital products, which covers products of both domestic and foreign brands. Under the plan, individual consumers purchasing smartphones, tablets, smartwatches or wristbands priced below 6,000 yuan (about $834.6) per item will receive a subsidy covering 15 percent…
Home appliance giant Midea Group set up a new industrial internet platform and a new brand for artificial intelligence-based home appliances on Oct 19, as part of the company’s plans to upgrade its business. The industrial internet platform will help Midea, based in South China’s Guangdong province, to become the country’s first independent industrial internet…