China will remain important to the long-term strategies of multinational companies, given its unmatched market scale, evolving consumer demand and increasingly strong innovation ecosystem, according to a senior executive. Kati Najipoor-Smith, head of the Global Automotive Practice at Heidrick & Struggles, sees China not only as an important market, but also as an increasingly important…
China’s top drug regulator approved a domestically developed innovative breast cancer drug for expanded use on Wednesday, offering a new first-line treatment option for patients with a common subtype of advanced breast cancer. The drug, Culmerciclib capsules, was developed by Chia Tai Tianqing Pharmaceutical Group, a subsidiary of Sino Biopharmaceutical. It has been approved by…
The Ministry of Industry and Information Technology said it has approved Beijing Guodian Gaoke Technology Co to launch a two-year commercial pilot program for satellite-based internet of things services, the first such commercial trial in the country. The move marks a significant step in the country’s efforts to advance commercial space applications and foster new…
Customers shop on April 24 at Walmart’s newly opened Chengdu store in Sichuan province, marking the launch of its next-generation store model in China. CHINA DAILY Walmart China’s recently revamped Chengdu, Sichuan province, store marks the launch of its next-generation store model in the country, signaling a rising trend of proximity-focused formats in retail. The…
China is on track to reach high-income status within one to two years, as steady growth and structural upgrading place the country on the cusp of a key developmental milestone, even as external uncertainties add complexity to the outlook, economists said. “Taking a relatively conservative view, China is likely to reach the threshold of a…
A substation dedicated to serving the power supply of Japanese carmaker Toyota’s wholly-owned Lexus electric vehicle plant officially began operations in Shanghai on April 30, paving the way for the plant’s mass production, according to State Grid Shanghai Municipal Electric Power Co. Situated in Shanghai’s Jinshan district, the project involves an investment of 14.6 billion…
China has accelerated reforms and risk management practices among small and medium-sized financial institutions this year as policymakers push to build stronger, more resilient lenders that are better rooted in local markets and more effective in supporting the real economy. One of the main approaches to restructuring small and medium-sized banks is to consolidate scattered…
A file photo shows a horse-themed setup by ByteDance’s Douyin in Shanghai on Jan 27. CHEN YUYU/FOR CHINA DAILY China’s internet giants are ramping up land purchases in major cities, committing more than 15 billion yuan ($2.2 billion) since late last year in a strategic shift from asset-light leasing to owning property tied to core…
Leveraging its first global flagship experience center — Dolby House Shanghai — Dolby, a global technology major in audio, imaging and voice, said it will deepen its cooperation with partners in China, as the country has become a key innovation hub for the company, said a senior executive. “Chinese consumers are actually teaching us what’s…
Foreign tourists buy souvenirs at a shop in Shanghai. YIN LIQIN/CHINA NEWS SERVICE A new wave of consumption activities involving debut economy, consumption upgrade, innovative digital spending as well as the integration of culture, tourism, sports and exhibitions are being held in Shanghai from the end of April through June — a fresh move to…