BEIJING — Several Chinese central state-owned enterprises (SOEs) have rolled out share purchase initiatives, underscoring their robust confidence in the long-term prospects of the country’s economy and capital market. China National Petroleum Corporation on Tuesday disclosed that it will buy A-shares and H-shares over the next 12 months, with a total investment of up to…
The logo of TikTok is seen on the screen of a smartphone in Arlington, Virginia, the United States, March 13, 2024. [Photo/Xinhua] Chinese tech heavyweight ByteDance, the parent company of short-video app TikTok, said on Saturday that it is still in discussion with the US government regarding plans to keep the app operational in the…
BEIJING — China Chengtong Holdings Group Ltd, a capital operation company under the country’s state-assets regulator, said that it has increased its holdings of exchange-traded funds (ETFs) and centrally administered State-owned enterprise stocks, in an effort to safeguard the stable operations of the capital market. In a Monday statement, the company said that it remains…
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A consumer browses infant formula at a supermarket in Shanghai in January. CHINA DAILY China Feihe Ltd, a leading infant formula brand in China, announced on March 26 that it will roll out a subsidy program aimed at improving birth rates nationwide in early April. The program will offer expectant families subsidies of at least 1,500…
A view of Nestle’s exhibition stand at the seventh China International Import Expo in Shanghai in November. CHINA DAILY Global food and drink company Nestle has acquired the remaining 40 percent stake in Chinese confectionery company Hsu Fu Chi from the founding Hsu family, giving it full ownership of the brand as part of efforts…
Chinese company Inspur Cloud is pushing forward with a major strategic upgrade of its cloud infrastructure, aiming to meet surging customer demand for AI-powered solutions and drive nationwide intelligent transformation across industries, its chairman said. Xiao Xue, executive president of Inspur Group and chairman of Inspur Cloud, said in an interview that in response to…
Multinational pharmaceutical company AstraZeneca is bullish about China’s role as a global innovation powerhouse, underpinned by the country’s sound prospects as well as its growing innovation capability in new and emerging sectors, its top executive said. Pascal Soriot, global CEO of AstraZeneca, said in an exclusive interview with China Daily that the company is investing…
Ajlan & Bros’ booth is seen during a services expo in Beijing. CHINA DAILY Ajlan & Bros Group, the largest Saudi Arabian private sector conglomerate in China, said it has been benefiting from the country’s improving business environment and further opening-up, citing a surge in new foreign investments as evidence of the market’s growing appeal.…
China is emerging as an innovation-centric economy, with technological advances setting the stage for global shifts, while foreign companies can leverage their expertise around the world to help Chinese businesses bolster digital transformation, said Samantha Zhu, chairperson of Accenture Greater China. “For businesses in China looking to boost their productivity and maintain competitiveness, technologies led…