BEIJING — China’s local state-owned enterprises (SOEs) maintained steady operations in 2024, marked by an increase in fixed-asset investment and profits, official data shows. The fixed-asset investment of local SOEs totaled 7 trillion yuan ($976.22 billion) last year, an increase of 4.2 percent year-on-year, according to the State-owned Assets Supervision and Administration Commission of the…
BEIJING — China will increase credit support for private enterprises, the country’s financial regulator has said. Efforts should be made to maintain a stable and effective increase in credit supply to private enterprises, and to strengthen support for first loans, renewals and credit loans to small and micro companies, the National Financial Regulatory Administration said…
China’s manufacturing sector utilized over 220 billion yuan ($30.3 billion) in foreign investment in 2024, marking a significant step in the country’s push for high-level opening-up. Yao Jun, head of the planning department at the Ministry of Industry and Information Technology, said at a news conference on Thursday that China had fully lifted all foreign…
The 2025 Global Developer Conference took place from Feb 21 to 23 in Shanghai’s Xuhui district, attracting developers from around the world to witness and share groundbreaking achievements in artificial intelligence. Several domestic and international developers shared their views on the profound impact of DeepSeek, an open-source large language model. Andrew Aitken, technical oversight committee…
SHANGHAI — As China’s pet economy continues to evolve, the types of species that are being kept as pets are also expanding, fueling the rapid growth of a vibrant and burgeoning exotic pet market. The exotic pet market refers to the trade and sale of non-traditional or unusual animals that are kept as pets. Unlike…
More than 2.5 trillion soy beans are being selected annually via an artificial intelligence bean face recognition system in the workshops of Haitian Flavouring and Food Co Ltd in Foshan, Guangdong province. The AI bean face recognition technology ensures that only good quality soy beans are used to produce soy sauce, further ensuring the quality…
Though China faces some challenges related to exchange rates and economic growth this year, partly due to external uncertainties, its importance in the global economy remains unchanged, especially at a time when the world is undergoing a reconfiguration in supply chains and capital flows, according to a senior executive at a global asset manager. Expecting…
A technician checks a humanoid robot at a lab in Hefei, Anhui province. [ZHANG DAGANG/FOR CHINA DAILY] China cut 2.63 trillion yuan ($361 billion) in taxes and fees targeted at technological innovation and high-end manufacturing last year, as the country strives for self-sufficiency in key technologies to maintain its competitive edge amid growing geopolitical and…
Furniture and home accessories producer IKEA’s supply chain operations launches its first batch of smart-driving electric trucks in China. [Photo provided to chinadaily.com.cn] Furniture and home accessories producer IKEA’s supply chain operations recently launched its first batch of smart-driving electric trucks in China, a major step to enhance logistics efficiency and reduce carbon emissions. These trucks…
At a traditional Chinese medicine (TCM) planting base in Juancheng county in Shandong province, broad stretches of Salvia miltiorrhiza Bge plants unfold on Feb 20, as a gentle breeze blows, sending a faint medicinal fragrance in the air. Danshen, the dried roots and tubers of Salvia miltiorrhiza Bge grown in Juancheng due to its rich…