When Hexagon AB, a Swedish metrology and geo-analytics company, first entered the Chinese market in 1993, all its coordinate measuring machines — devices used to gauge the precise geometrical characteristics of objects — had to be imported from Europe. More than 30 years on, the company sees 90 percent of its machines manufactured in China.…
BEIJING — China’s financial regulatory authority has approved the launch of the second batch of pilot programs for long-term stock investments, with a scale of 52 billion yuan ($7.25 billion). China Pacific Life Insurance Co Ltd, Taikang Life Insurance Co Ltd, Sunshine Life Insurance Co Ltd, and relevant insurance asset management firms are authorized by…
This aerial photo taken on Sept 12, 2023 shows a view of the container terminal of Haikou Port in Haikou, South China’s Hainan province. [Photo/Xinhua] In a move to bolster the growth of the Hainan Free Trade Port and broaden the spectrum of zero-tariff goods, a joint announcement by the Ministry of Finance, General Administration…
Abu Dhabi, the largest emirate in the United Arab Emirates, is intensifying efforts to bolster its economic and trade relations with China, targeting key sectors such as advanced manufacturing, energy transition, and artificial intelligence to seize emerging opportunities for collaboration with the world’s second-largest economy. Jasem Alawadhi, head of economic strategy oversight at the Abu…
A consumer checks out Lenovo laptops in Shanghai in May. CHINA DAILY China’s consumption, powered by a more proactive fiscal policy and a moderately loose monetary policy, will bring out greater vitality and play a bigger role in spurring overall economic growth this year, said officials and executives. Consumer goods trade-in initiatives will serve a…
China’s general public budget revenue, which is the sum-up of tax revenue and non-tax revenue, reached more than 21.97 trillion yuan ($3.03 trillion) last year, increasing 1.3 percent year-on-year, the latest data from the Ministry of Finance showed on Friday. The fiscal revenue had showed greater growth momentum toward the end of the year, following…
Customers apply for subsidies under the trade-in program in Hangzhou, Zhejiang province, in October. [Photo/Xinhua] China’s trade-in policy achieved significant results in 2024, said Sheng Qiuping, vice-minister of commerce, at a news conference in Beijing on Friday. Last year, more than 6.8 million vehicles were traded in for new ones. More than 62.76 million units…
Visitors pose for a photo at the Beicang Cultural and Creative Block in Jiangbei district of Southwest China’s Chongqing municipality, Oct 4, 2024. [Photo/Xinhua] CHONGQING – In Southwest China’s Chongqing municipality, abandoned factories and warehouses have been transformed into vibrant cultural and creative hubs, while old neighborhoods have been revitalized with unique bistros and cultural…
A view of the headquarters of China Securities Regulatory Commission in Beijing. [CHINA DAILY] BEIJING — The China Securities Regulatory Commission (CSRC) on Sunday released an action plan to promote the high-quality development of index investment in the Chinese capital market. According to the plan, the country will significantly increase the scale and proportion of…
China will actively expand imports this year even in the face of escalating trade protectionism, transforming its super-sized market into a shared global one that injects fresh momentum into the global economy, officials and experts said on Thursday. “China’s ongoing efforts to scale up its imports represent a proactive response to its responsibilities as a…