A view of the booth of Bank of China during an expo in Beijing. ZHANG WEI/CHINA DAILY Chinese banks ramped up support for technology financing in the first half, with State-owned commercial lenders taking the lead and showing the early results of channeling financial resources into innovative enterprises. As of end-June, the total balance of…
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BEIJING – The People’s Bank of China (PBOC), China’s central bank, has renewed bilateral currency swap agreements with the European Central Bank (ECB), the Swiss National Bank (SNB), and the National Bank of Hungary (MNB), respectively. The size of the PBOC-ECB swap is 350 billion yuan (nearly $50 billion), or 45 billion euros, and is…
A worker handles products at the Shu Brocade Workshop of the Chengdu Shu Brocade Research Institute, a private enterprise in Chengdu, Sichuan province. [LI XIANGYU / FOR CHINA DAILY] China saw its factory-gate prices decline narrowed in August, while consumer prices fell slightly, the official data showed on Wednesday. China’s producer price index – which…
Shoppers buy vegetables at a supermarket in Lianyungang, Jiangsu province. GENG YUHE/FOR CHINA DAILY China’s factory-gate price declines eased in August for the first time in six months, signaling improving supply-demand dynamics and a stabilizing economy supported by proactive macroeconomic policies, officials and analysts said on Wednesday. Looking ahead, analysts expect prices to stage a mild…
China plans to accelerate the development of emerging and future industries—including artificial intelligence and robotics—during the 15th Five-Year Plan (2026–30) while strengthening its competitive edge in information and communications technology, a senior industry official said on Saturday. Li Lecheng, minister of the Ministry of Industry and Information Technology, said the country will push harder to…
BEIJING — China’s foreign exchange reserves totaled $3.3222 trillion at the end of August, up by $29.9 billion, or 0.91 percent, compared to the end of July, official data showed Sunday. The State Administration of Foreign Exchange attributed the increase to the combined impact of currency translation and changes in asset prices. In August, the…
China’s foreign trade will pick up further pace this year as manufacturers shift toward more technology-intensive exports and strengthen ties with emerging markets, government officials and business leaders said on Monday. They noted that Chinese exporters’ push for market diversification, along with improvements in regional connectivity and supply chains, is helping to bolster resilience and…
China’s top securities regulator vowed over the weekend to step up law-based supervision and make strong efforts to advance high-quality capital market development, following the announcement that its former chairman is under investigation. Financial experts said the pledge reflects the country’s firm determination to address the remaining structural challenges in the capital market to foster…
Photo shows a view of Nansha Port in Guangzhou, South China’s Guangdong province. [Photo provided to chinadaily.com.cn] China’s foreign trade will pick up further pace this year as manufacturers shift toward more technology-intensive exports and strengthen ties with emerging markets, government officials and business leaders said on Monday. They noted that Chinese exporters’ push for…