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SMEs becoming major driver of trade between China and Russia

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Small and medium-sized enterprises are increasingly becoming a key driver of trade growth between China and Russia, experts said on Friday at a forum held in Nanchang, capital of East China’s Jiangxi province. The 12th China-Russia SME Cooperation Roundtable brought together more than 120 companies from both countries to explore new business opportunities. The event…

China marks key milestone in developing complex deepwater oil and gas reservoirs

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China National Offshore Oil Corporation announced Sunday that the secondary development project of the Liuhua Oilfield, the country’s first deepwater oilfield, has fully commenced operation, a major breakthrough in China’s ability to develop complex deepwater oil and gas reservoirs. Located in the Pearl River Mouth Basin, the oilfield is China’s largest offshore reef limestone oilfield…

China intensifies financial support to spur consumption

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A shopper (left) examines a mobile phone which enjoys trade-in price subsidy at a store in Leshan, Sichuan province. LI HUASHI/FOR CHINA DAILY BEIJING — Chinese authorities on Sunday made public a circular urging stronger coordination between the commerce and financial sectors to step up support for consumption, a key driver of the country’s economic…

China’s core AI industry to top 1.2 trillion yuan in 2025: research institute

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Visitors learn about a manned aircraft during the China International Digital Economy Expo 2025 in Shijiazhuang, North China’s Hebei province, Oct 17, 2025. [Photo/Xinhua] BEIJING — The scale of China’s core artificial intelligence (AI) industry is expected to exceed 1.2 trillion yuan (about $170 billion) in 2025, according to a research institute under the Ministry…

Billionaire offers ‘common-sense’ advice

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Supermarket billionaire John Catsimatidis has been a giant in the New York City business world for over 50 years, starting with the purchase of grocery stores and branching out to an airline, oil and gas, real estate, media investments and other projects. But as the 77-year-old, known as the “common-sense billionaire”, looks back on his…

World’s first CDK2/4/6 inhibitor approved in China

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The world’s first CDK2/4/6 inhibitor, developed by Chia Tai Tianqing Pharmaceutical Group, a subsidiary of Sino Biopharmaceutical, was officially approved for market launch on Thursday. CDK2/4/6 inhibitors are targeted cancer drugs that stop certain proteins (CDK2, CDK4, and CDK6) that cancer cells need to grow and divide. Breast cancer has become the most common cancer…

IKEA franchisee announces deal with Beijing investment firm

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Ingka Centres, a branch of the IKEA franchisee Ingka Group, has announced a new partnership with investment firm GoHigh Capital to establish a real estate fund for China, which will co-own three of Ingka’s Livat shopping centers. Subject to approval by regulatory authorities, the agreement would entail Ingka continuing to manage and operate the centers…

Chinese, UAE partners work to tap Middle East market

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Dr Adrian Cheng (right), founder and executive chairman of K11 by AC of Almad Group, and Sheikh Mana, founder and chairman of Wafi Group, sign a joint venture agreement to launch multi-faceted partnerships on Dec 11 to expand their cultural and commercial footprints in the Middle East market. [Photo provided to chinadaily.com.cn] A Hong Kong-based…

Hisense Europe sees 2025 sales up by 6%

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VELENJE, Slovenia – Hisense Europe, a Chinese-owned consumer electronics and home appliances group based in Slovenia, expects to close 2025 with about 4.8 billion euros ($5.2 billion) in revenue, up 6 percent from 2024, Executive Vice-President Bostjan Pecnik said Thursday. Speaking at a press briefing in Velenje, Pecnik said the group’s profit will also exceed…