BEIJING – China’s central bank conducted 150 billion yuan ($21.2 billion) of seven-day reverse repos at an interest rate of 1.5 percent Thursday. The move aims to keep liquidity in the banking system reasonable and ample, the central bank said. A reverse repo is a process in which the central bank purchases securities from commercial…
A view of the booth of SHUA Fitness during an expo in Shanghai. CHINA DAILY SHUA Fitness, a Jinjiang, Fujian province-based fitness equipment supplier, has stepped up the upgrade of its products by giving full play to emerging technologies — from ergonomic engineering to the internet of things — aimed at continuously increasing its market…
Consumers try beans from Baoshan, Yunnan at a Baoshan Bestain Coffee store in Shanghai. CHINA DAILY With high-quality coffee beans, Southwest China’s Yunnan province has jumped on opportunities to grow its coffee business in Shanghai — a metropolis that has the largest number of coffee shops globally. Among the first batch of Yunnan coffee players to…
A farmer harvests celery at a plantation in Tonghai county, Yunnan province. CHINA DAILY Exports of organic vegetables have become an economic driver in Yunnan province, providing more opportunities for local vegetable retailers. Yunnan Mr. Yunling Agricultural Development Co Ltd has been exporting vegetable products to markets including Hong Kong and Macao special administrative regions and…
A China Post courier arranges packages at a community in Lhasa, Xizang autonomous region. [PALDEN NYIMA/CHINA DAILY] BEIJING – China Post ranked first among global postal operators by both revenue and profits in the 2024 Fortune Global 500 list, according to company sources on Wednesday. Liu Aili, chairman of China Post Group Corporation Limited, said…
A prospective homebuyer looks at a property model during an expo in Shenzhen, Guangdong province. [CHINA DAILY] Encouraged by policy stimulations, the real estate market in Shenzhen, Guangdong province, showed positive signals during the weeklong National Day holiday. From Oct 1 to 7, a total of 1,841 new homes in the city were subscribed, marking…
Shoppers look at sportswear made by Anta Group at a department store in Beijing. A variety of test laboratories have been set up in the company to test the performance of its clothing and footwear products. JIANG DONG/CHINA DAILY Jinjiang, a county-level city in Fujian province, is home to some of the country’s most renowned…
A view of a property project under construction in Fuzhou, Fujian province. ZHANG BIN/CHINA NEWS SERVICE Optimization measures rolled out by China’s central government as well as major cities, along with large-scale promotional activities by real estate developers, have led to a better-than-expected housing market performance during the weeklong National Day holiday, industry experts said…
BRUSSELS – The European Union’s (EU) punitive tariffs on Chinese battery electric vehicles (EVs) are a mistake, which will do more harm than good, the Brussels-based economic think tank Bruegel said on Wednesday. The European Commission announced Friday that it passed a vote to impose punitive tariffs on Chinese EVs, sparking criticism from several European…
A worker is pictured at the production line of a textile company in Jimo district of Qingdao city, East China’s Shandong province, Oct 7, 2024. [Photo/Xinhua] China will likely hit this year’s annual growth target of around 5 percent with a projected pickup in fourth-quarter GDP growth, given the recently unveiled, bolder than expected stimulus…