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New system to elevate free trade hub

China’s southern Hainan province will launch a comprehensive zero-tariff system for imports starting Dec 18, when it begins operating as a special Customs regulatory area, experts said on Monday, marking a major step in its push to become a globally competitive free trade hub. The new policy, approved by China’s finance, Customs and tax authorities,…

China-US trade ties crucial for global growth

China’s economic growth is pivotal to and vital for global prosperity, and it is essential and significant for the United States and China to maintain a stable trade relationship, according to a senior business leader. Rajesh Subramaniam, CEO of US-based logistics company FedEx Corp and chair of the Board of the US-China Business Council, said…

China’s autonomous driving tech forges inroads into global markets

A family tries a self-driving vehicle developed by China’s tech giant Baidu on June 21 in Shenzhen, Guangdong province. ZHOU NAN/FOR CHINA DAILY Commercial application of China’s cutting-edge autonomous driving technology is spreading globally as Chinese enterprises speed up efforts to expand their presence in overseas markets and deploy robotaxi fleets. Residents in some Middle East…

Monetary policy likely to stay accommodative in H2

A cashier counts RMB notes in a bank in Haian, Jiangsu province. [Photo/Sipa] Chinese policymakers are likely to maintain accommodative monetary conditions in the second half of the year, remaining prepared to step up policy support in case of any significant economic slowdown pressures or unexpected external shocks, analysts said on Monday. Soft domestic inflation…

Industrial producer prices up by 0.8% in the euro area and by 0.7% in the EU

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Deaths by drowning in the EU down by 4% in 2022

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China issues new guidelines to rein in online platform fees

  China’s top market regulator issued new guidelines aimed at regulating how online platforms charge merchants, in a bid to reduce operational burdens for businesses and curb unfair practices in the booming digital sector. The new guidelines, published by the State Administration for Market Regulation, set out compliance requirements for fees such as commissions, membership…