This photo taken on June 6, 2024 shows an exterior view of the European Parliament in Brussels, Belgium. [Photo/Xinhua] The European Union could face an estimated €367.8 billion ($434 billion) loss over the next five years should Brussels exclude Chinese suppliers under a proposed revision of its Cybersecurity Act, according to a joint report by…
Lujiazui, Shanghai’s financial center, forms a perfect backdrop to Shanghai’s Bund. [Wang Gang/For China Daily] Having long been shaped by internationalization, Shanghai has continued to refine its business environment over the years and is resolute in providing a fair, stable, transparent and predictable environment for businesses regardless of their size and nationality, according to official…
China has stepped up policy support for cross-border financing by raising leverage ratios for overseas lending by foreign banks in the country and the Export-Import Bank of China, in a move aimed at boosting the real economy, facilitating trade and investment, and accelerating the global use of the renminbi. The adjustment comes as banks’ overseas…
Expanded cooperation between China and the United States will help reinforce the stability of global industrial and supply chains, while generating fresh momentum in advanced manufacturing, premium consumption and innovation-driven industries, said analysts and business executives of both sides. They also said that stable China-US economic ties are vital to safeguarding global supply chains, and…
China’s Ministry of Commerce has responded to reported European Union plans to block funding for projects using Chinese inverters by warning that the country will take necessary measures to safeguard the legitimate rights and interests of its companies. In response to the reported comments by EU officials, the Ministry of Commerce stated that the bloc…
China is on track to reach high-income status within one to two years, as steady growth and structural upgrading place the country on the cusp of a key developmental milestone, even as external uncertainties add complexity to the outlook, economists said. “Taking a relatively conservative view, China is likely to reach the threshold of a…
China has accelerated reforms and risk management practices among small and medium-sized financial institutions this year as policymakers push to build stronger, more resilient lenders that are better rooted in local markets and more effective in supporting the real economy. One of the main approaches to restructuring small and medium-sized banks is to consolidate scattered…
Foreign tourists buy souvenirs at a shop in Shanghai. YIN LIQIN/CHINA NEWS SERVICE A new wave of consumption activities involving debut economy, consumption upgrade, innovative digital spending as well as the integration of culture, tourism, sports and exhibitions are being held in Shanghai from the end of April through June — a fresh move to…
The renminbi is starting to gain ground in the dollar-dominated global commodity trade, as recent deals highlighted the Chinese currency’s expanding role in offering a diversified option for pricing and settlement, economists and executives said. Breakthroughs in RMB-denominated commodity transactions, regarded as one of the most difficult frontiers for the RMB’s global use, may signal…
China is elevating the “one-person company” from a fringe business model to a national strategy, betting that artificial intelligence can turn individuals into scalable economic units, which industry experts said is a shift unfolding in parallel with the United States, but along a markedly different path. The one-person company, or OPC, emerged as one of…