China will kick off on April 24 the issuance of this year’s ultra-long-term special treasury bonds — a major off-budget tool to boost growth and address structural challenges — worth 1.3 trillion yuan ($178.3 billion), as policymakers front-load fiscal stimulus moves to proactively counter the incoming demand shock stemming from US tariffs. To be issued…
Tourists take photos at the Bund area of Shanghai. [Photo by Wang Gang/For China Daily] Shanghai registered 5.1 percent GDP growth in the first quarter of 2025, up 0.1 percentage point year-on-year, the municipal government said on Wednesday. The first quarter GDP growth was also 0.1 percentage point higher than the whole-year growth of 2024.…
An aerial drone photo shows visitors enjoying the cityscape at The Stage, a new observation deck atop White Magnolia Plaza in Shanghai, East China, April 14, 2025. [Photo/Xinhua] BEIJING – Shanghai’s international financial center construction process is progressing soundly and features notable achievements, particularly through pioneering reforms in cross-border financial services, a central bank official…
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, US, April 22, 2025. [Photo/Agencies] NEW YORK — US stocks advanced on Tuesday, as investors grew optimistic that US-China trade tensions may soon ease, following reassuring remarks from the US Treasury Department. The Dow Jones Industrial Average rose 1,016.57…
BEIJING — The China Development Bank said on Tuesday that it has issued loans totaling 369.1 billion yuan ($51 billion) for infrastructure development in the first quarter of the year. Infrastructure-related lending accounted for a growing share of the bank’s total outstanding loans, which the bank noted is part of its heightened efforts to bolster…
BEIJING — China’s bank wealth management market enjoyed steady growth momentum in the first quarter, industry data indicated on Tuesday. The balance of wealth management products stood at 29.14 trillion yuan ($4.04 trillion) at the end of March, up 9.41 percent year-on-year, according to the latest data provided by the China Banking Wealth Management Registration…
China will accelerate the expansion of the service sector’s opening-up, a practical action meant to inject more certainty and stability into the world in light of intensifying global unilateralism and protectionism, the Ministry of Commerce said on Monday. The ministry has issued a guideline for accelerating the implementation of a comprehensive pilot program to expand…
A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua] Despite facing a substantial external demand gap caused by US tariffs, keeping the renminbi exchange rate generally stable as much as possible should remain the best option for Chinese policymakers, said leading economists and policy advisers.…
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An action plan to further improve the facilitation of cross-border financial services provided in Shanghai was released on Monday, aiming to step up the support for Chinese companies’ outbound reach and better address the country’s Belt and Road Initiative. Made up of 18 detailed policies, the action plan will support various market entities to participate…