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A draft revision to the Law on State-Owned Assets of Enterprises was submitted on Monday to a standing committee session of China’s top legislature for its first reading, marking the first major overhaul of the legislation since it took effect nearly 17 years ago. The draft, submitted to the 22nd session of the 14th National…
Construction of the Guangdong-Hong Kong-Macao Greater Bay Area is among the top priorities for the economic and social development of Guangdong province during the 15th Five-Year Plan period (2026-30), according to a newly announced plan. Released by local authorities on Tuesday, the plan sets out 22 indicators across economic development, innovation-driven growth, people’s well-being, urban…
Technological innovation and robust policy support for domestic demand are bolstering China’s economic resilience, laying a stable foundation for growth through the remainder of the year, economists said. The assessment follows the Ministry of Finance’s welcoming of the decision by Moody’s Ratings to affirm China’s A1 sovereign credit rating and upgrade its outlook to stable.…
Technological innovation and robust policy support for domestic demand are bolstering China’s economic resilience, laying a stable foundation for growth through the remainder of the year, economists said. The assessment follows the Ministry of Finance’s welcoming of the decision by Moody’s Ratings to affirm China’s A1 sovereign credit rating and upgrade its outlook to stable.…
The General Administration of Customs will support the development of bulk commodity logistics hubs in China’s comprehensive bonded zones to strengthen the security of strategic mineral supplies, said customs officials on Monday. Speaking at a news conference in Beijing, Pan Cheng, director of the GAC’s department of free trade zone and special control area, said…
Justin Yifu Lin China’s economic growth experience, rooted in a path that aligns with its own conditions and comparative advantages, provides Global South countries with a valuable option and strengthens their confidence in pursuing modernization, a senior economist said. Justin Yifu Lin, honorary dean of the Institute of South-South Cooperation and Development at Peking University,…
An employee works on the production line of an automaker in Jinhua, Zhejiang province. HU XIAOFEI/FOR CHINA DAILY China’s economy is maintaining strong momentum as major industrial enterprises posted solid profit growth in the first quarter, pointing to robust economic resilience of the world’s second-largest economy despite mounting external uncertainties, officials and experts said on…
Chinese private refining giant Hengli Group has strongly condemned recent United States sanctions imposed on one of its wholly-owned subsidiaries, dismissing US allegations of ties to Iran as “groundless”, and lacking both factual and legal basis. The US Department of the Treasury’s Office of Foreign Assets Control, or OFAC, placed Hengli Petrochemical (Dalian) Refining Co…
A view of a duty-free shop in Beijing Capital International Airport. CHINA DAILY The nationwide rollout of China’s departure tax refund service, which smoothly reached its one-year mark this month, has effectively stimulated inbound travel and increased consumption vitality, experts said. The policy governing the service aims to further enhance the convenience of departure tax…