Technological innovation and robust policy support for domestic demand are bolstering China’s economic resilience, laying a stable foundation for growth through the remainder of the year, economists said. The assessment follows the Ministry of Finance’s welcoming of the decision by Moody’s Ratings to affirm China’s A1 sovereign credit rating and upgrade its outlook to stable.…
Technological innovation and robust policy support for domestic demand are bolstering China’s economic resilience, laying a stable foundation for growth through the remainder of the year, economists said. The assessment follows the Ministry of Finance’s welcoming of the decision by Moody’s Ratings to affirm China’s A1 sovereign credit rating and upgrade its outlook to stable.…
The General Administration of Customs will support the development of bulk commodity logistics hubs in China’s comprehensive bonded zones to strengthen the security of strategic mineral supplies, said customs officials on Monday. Speaking at a news conference in Beijing, Pan Cheng, director of the GAC’s department of free trade zone and special control area, said…
Justin Yifu Lin China’s economic growth experience, rooted in a path that aligns with its own conditions and comparative advantages, provides Global South countries with a valuable option and strengthens their confidence in pursuing modernization, a senior economist said. Justin Yifu Lin, honorary dean of the Institute of South-South Cooperation and Development at Peking University,…
An employee works on the production line of an automaker in Jinhua, Zhejiang province. HU XIAOFEI/FOR CHINA DAILY China’s economy is maintaining strong momentum as major industrial enterprises posted solid profit growth in the first quarter, pointing to robust economic resilience of the world’s second-largest economy despite mounting external uncertainties, officials and experts said on…
Chinese private refining giant Hengli Group has strongly condemned recent United States sanctions imposed on one of its wholly-owned subsidiaries, dismissing US allegations of ties to Iran as “groundless”, and lacking both factual and legal basis. The US Department of the Treasury’s Office of Foreign Assets Control, or OFAC, placed Hengli Petrochemical (Dalian) Refining Co…
A view of a duty-free shop in Beijing Capital International Airport. CHINA DAILY The nationwide rollout of China’s departure tax refund service, which smoothly reached its one-year mark this month, has effectively stimulated inbound travel and increased consumption vitality, experts said. The policy governing the service aims to further enhance the convenience of departure tax…
China has prohibited the foreign acquisition of the Manus project and ordered the parties involved to unwind the deal, the office overseeing the country’s foreign investment security review mechanism said on Monday. The decision was issued by the office under the National Development and Reform Commission, which stated that it barred the investment in accordance…
BEIJING — The number of overseas visitors claiming China’s instant tax refund surged 12.96-fold within one year after the policy’s nationwide rollout, the State Administration of Taxation said Monday. During the same period, both the sales of tax refund-eligible goods and the total instant tax refunds jumped 9.35-fold year-on-year, official data showed. As an upgrade…
China has submitted a complaint to the European Commission over the EU’s proposed Industrial Accelerator Act, warning that the legislation would create “serious investment barriers and institutional discrimination” against Chinese companies and vowing countermeasures if Brussels pushes ahead, the Ministry of Commerce said Monday. The ministry submitted its official comments to the European Commission on…