The recent strengthening of the renminbi against the US dollar reflects the resilience of China’s economic fundamentals and the improving stability of its financial system, while a weaker dollar has also provided external support for the renminbi’s gains, economists said. They also said that if the yuan maintains a firm trajectory next year, it could…
BEIJING — China disagrees with the so-called conclusions of the US Section 301 investigation and firmly opposes the imposition of additional Section 301 tariffs on Chinese semiconductor products, a spokesperson for the Ministry of Commerce said on Thursday. The Office of the United States Trade Representative recently released the results of its Section 301 investigation…
The Shanghai municipal government has issued an action plan to strengthen the construction of an open source system, with a goal of incubating over 200 high-quality open source projects by 2027. According to the action plan, by 2027, a preliminary open source system with complete technical support, a perfect service system, a reasonable talent structure,…
Profits at China’s major industrial firms maintained a modest recovery through November, underpinned by the rapid growth of equipment manufacturing and high-tech sectors, official data showed on Saturday. During the first 11 months, China’s industrial enterprises with an annual revenue of at least 20 million yuan ($2.85 million) saw their total profits rise 0.1 percent…
Recently issued accountability measures for centrally-administered State-owned enterprises will strengthen responsibility as well discipline in corporate management and investment, helping SOEs and State capital achieve steady growth, a spokesperson for the State-owned Assets Supervision and Administration Commission of the State Council said. The Implementation Measures for Accountability in Cases of Irregular Business Operations and Investments…
BEIJING — China’s Ministry of Commerce on Tuesday urged the United States to cease its erroneous actions concerning the US Federal Communications Commission’s (FCC’s) decision to add foreign-made drones and key components to its “Covered List.” A ministry spokesperson said that China firmly opposes the move and urges the US side to revoke the relevant…
Hainan’s Free Trade Port has witnessed a sharp rise in offshore duty-free shopping one week after launching island-wide customs operations, according to official figures released on Thursday by Haikou Customs. From Dec 18 to Dec 24, duty-free sales reached 1.1 billion yuan ($157 million), with 775,000 items purchased by 165,000 shoppers. That represents a 54.9…
Shanghai unveiled its development goals for 2035 on Monday, with the central aim being the doubling of its per capita GDP from 2020 levels. The drafters of the goals believe this will firmly establish Shanghai as a modern, socialist international metropolis with global influence. The city also wants to enhance its “five centers” to international…
Headquarters of the People’s Bank of China, the central bank, is pictured in Beijing, China. [Photo/Xinhua] China’s central bank unveiled a one-off credit repair policy on Monday, a move that officials and experts said is expected to improve the public’s overall credit profile, reinvigorate market vitality and support a sustained economic recovery. The policy is…
A view of Beijing Wanli commercial and entertainment complex, which is set to open officially in Beijing on Friday. It will bring a wide range of international brands and first stores. PAN ZHIWANG/FOR CHINA DAILY Beijing will further enhance its services to attract more international brands in debuting their products and innovating diverse scenarios, in…