BEIJING — China’s Ministry of Commerce announced on Friday that it will impose an additional 55 percent tariff on beef imported from Australia, effective Saturday, on top of existing tariff rates. China has implemented safeguard measures on imported beef since Jan 1, 2026. The measures take the form of country-specific quotas, with additional tariffs imposed…
Tianjin Economic-Technological Development Area launched a cross-border service portal on Wednesday. [Photo provided to chinadaily.com.cn] Tianjin’s first all-in-one cross-border service portal for expanding enterprises was launched at the city’s Economic-Technological Development Area (TEDA) on Wednesday. Zhang Xue, chairperson of TEDA One-Stop Global Service Center, said the digital platform offers 104 standardized services covering sectors such…
People browse cosmetics and perfumes in a shop on Qilou Old Street in Haikou, Hainan province, on May 9. GUO CHENG/XINHUA It was a moment that captured the promise of a new era. On the eve of the May Day holiday, a container ship from Italy docked at Yangpu Port in Danzhou, Hainan province, carrying…
Wu Qing, chairman of China Securities Regulatory Commission (CSRC), speaks at the Lujiazui Forum in Shanghai, on June 17, 2026. [Photo/VCG] China’s securities regulator unveiled the nation’s first five “Tech-Finance Practice Models” in the capital market at the 2026 Lujiazui Forum in Shanghai on Wednesday. These pioneering pilots encompass the Pudong district of Shanghai, the…
China will establish a new liquidity facility for overseas central banks and official institutions, People’s Bank of China Governor Pan Gongsheng said, in what analysts described as a proactive step toward boosting global demand for yuan assets. Speaking at the 2026 Lujiazui Forum on Wednesday, Pan announced the establishment of the RMB Repo Facility for…
Twenty-six financial institutions signed Cross-border e-CNY Transfer Services direct participant agreements with e-CNY Center International Co in Shanghai on Tuesday, becoming the first group to gain access to CBETS, a cross-border blockchain-based infrastructure service platform designed to support the international use of the digital yuan. Developed and operated by e-CNY Center International Co, the platform…
An action plan to develop offshore finance in Shanghai was released on Wednesday, as the two-day 2026 Lujiazui Forum kicked off. To better address companies’ outbound reaches, Shanghai, as an international financial center, should have the business rules and systems for offshore finance initially established by the end of 2027, according to the action plan…
SHANGHAI — China’s central bank governor Pan Gongsheng on Wednesday announced six new financial policy measures at the 2026 Lujiazui Forum. While delivering a speech at the two-day event opening Wednesday, Pan said the People’s Bank of China will work to improve the short-term interest rate regulation mechanism, launch a renminbi repo facility for foreign…
A visitor walks through the international healthcare consumption section of the sixth China International Consumer Products Expo in Qionghai, Hainan province, on April 16. GAO JING/XINHUA For Michael Heilig, who is from Germany’s federal association for small and medium-sized enterprises, his trip to Hainan province last week felt almost destined. His Chinese name, “Hai Li…
China has called for stronger risk-based, tiered management of the development and application of artificial intelligence at banking and insurance institutions, in order to effectively address the challenges posed by AI development while better serving the real economy and meeting the needs of the public. The National Financial Regulatory Administration said on Thursday that it…