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Chinese SOEs report 1.9% profit growth in first four months

BEIJING – Chinese state-owned enterprises (SOEs) and state-controlled enterprises reported combined profits of more than 1.37 trillion yuan ($202 billion) in the first four months of 2026, representing year-on-year growth of 1.9 percent, latest government data showed Friday. During this period, Chinese SOEs’ total operating revenue came in at roughly 26.27 trillion yuan, down 0.5…

UEFA signs long-term AI partnership with Alibaba

BUDAPEST — UEFA announced on Friday a long-term partnership with Alibaba Group on artificial intelligence, cloud services and e-commerce, as European football accelerates its digital transformation and fan engagement efforts. Under the agreement, Alibaba will become the official exclusive AI, cloud computing services and e-commerce partner for the UEFA Champions League, UEFA Europa League and…

China, EU discuss establishment of trade and investment consultation mechanism: ministry

BEIJING — China and the European Union are discussing the establishment of a trade and investment consultation mechanism and will hold related dialogue, the Ministry of Commerce said Saturday. China has maintained smooth communication with the EU, a ministry spokesperson said in response to a media inquiry about the European Commission’s College of Commissioners orientation…