Diners eat at a restaurant in Shanghai on Feb 4. The city’s services sector grew 5.7 percent year-on-year and contributed 78.2 percent to Shanghai’s GDP last year. [Photo provided to China Daily] The high-quality development of Shanghai’s services sector should better serve technological advancement and boost consumption, the city’s municipal government said in a recent…
People enjoy a meal at a restaurant in a historical block in Nanhu district of Jiaxing city, East China’s Zhejiang province. [Photo/Xinhua] Editor’s note: China recently issued a special action plan for boosting consumption, focusing on enhancing consumption capacity, releasing consumption willingness, optimizing consumption environments and unlocking consumption bottlenecks. This comprehensive policy package introduces far-reaching…
Shanghai Global Investment Promotion Conference 2025, the annual pageant attracting more business opportunities, will be held on March 25, local officials announced during a news conference on Thursday. An investment-themed week will start from March 25. The opening ceremony will be held in the city’s landmark Shanghai Tower. Three round-tables will be held among private…
An employee works on a machine tool assembly line in Chongqing on Feb 22. WANG QUANCHAO/XINHUA The expansion of the scope of large-scale equipment upgrades and consumer goods trade-in programs this year is expected to boost demand for machine tools, thanks to the rapid and effective implementation of the policies, the China Machine Tool and Tool…
China is doubling down on technological innovation, particularly in areas like artificial intelligence and humanoid robots, to prop up economic vibrancy this year, hedge against escalating tariff threats from Washington, and counter sluggish domestic demand, senior economists said. On top of the current consumption boosting-initiatives, policymakers could invest even more in consumer-centric stimulus measures and…
Ole Gerdau, COO at Deutsche Bank China, highlighted that China’s strength in AI might surprise many. With the launch of DeepSeek, China’s unstoppable momentum in AI is clear. Deutsche Bank predicts that 2025 could be a turning point, with global capital shifting focus and increasing allocations to China’s financial market. Tanks to chinadaily.com.cn Please visit:…
People visit the exhibition area of consumer goods during the seventh China International Import Expo (CIIE) in East China’s Shanghai, Nov 5, 2024. [Photo/Xinhua] Faced with structural issues at home and mounting external uncertainties, China should put in place a mix of macroeconomic and industrial policies, alongside meaningful reforms, to spur effective demand, stabilize the…
Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China. [Photo/Xinhua] The People’s Bank of China (PBOC) has pledged to intensify monetary policy adjustments and lower financing costs to support economic growth, according to a statement released on Friday after its first-quarter monetary policy committee meeting. The meeting, held…
Lujiazui, Shanghai’s financial center, forms a perfect backdrop to Shanghai’s Bund. [Wang Gang/For China Daily] China is taking steps to establish a well-functioning and sustainable regulatory mechanism for enterprise-related fees aimed at anchoring expectations of market players of all types and boosting their confidence in future growth, the State Council, the country’s Cabinet, said on…
A saleswoman (left) addresses consumer queries about a washing machine at a shopping center in Hohhot, Inner Mongolia autonomous region, on March 5. [DING GENHOU/FOR CHINA DAILY] China’s latest push to boost consumption — a top priority on the country’s policy agenda for the year ahead — is expected to shore up consumer confidence, unleash…