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China’s public offering fund value tops 32t yuan

A worker counts Chinese currency renminbi at a bank in Linyi, East China’s Shandong province. [Photo/Xinhua] BEIJING – Assets under the management of China’s public offering funds totaled 32.07 trillion yuan ($4.51 trillion) by the end of September, data from the Asset Management Association of China showed Friday. In comparison with the end of August,…

Sinopec connects geothermal power generation project to grid

The company logo of Sinopec Corp is displayed at a news conference in Hong Kong. [Photo/Agencies] China Petroleum & Chemical Corp, or Sinopec, saw its first geothermal power generation demonstration project connected to the grid and started generating electricity recently, amid China’s commitment to diversifying away from traditional oil and gas operations. Located in a…

Existing mortgage rates lowered, saving borrowers $21 billion

An aerial drone photo taken on Nov 9, 2023 shows a newly-built residential complex in Feixi county of Hefei city, East China’s Anhui province. [Photo/Xinhua] Interest rates for the majority of existing housing loans in China were reduced on Friday, with the rest to be reduced by some small and medium-sized banks by the end…

US medical device maker Align eyes China expansion

The skyline of Beijing. [Photo/VCG] Regarding China as one of its most important markets, US-based medical device manufacturer Align Technology looks to make China play a greater role in its global strategy, said a senior executive of the company. “China to Align is the second-biggest market after the US, and our role in China is…

New large cruise ship Adora Flora City unveiled in Guangzhou

Adora Cruises unveiled the name of its second China-built large cruise ship as the “Adora Flora City” in Guangzhou, the capital of Guangdong province, on Friday. [Photo provided to chinadaily.com.cn] Adora Cruises, a flagship enterprise in China’s cruise sector, unveiled the name of its second China-built large cruise ship as the “Adora Flora City” in…

China’s passenger jet C919 makes outstanding achievements during new stage of operation

A C919 aircraft arrives at Shanghai Hongqiao International Airport on July 29, 2024. [YIN LIQIN/CHINA NEWS SERVICE] China’s first domestically developed single-aisle passenger jet C919 has entered a new stage of multi-carrier operation. So far, 11 aircraft have been delivered, transporting more than 700,000 passenger trips, said its manufacturer on Friday. The commercial operation of…

Chinese firm succeeds in mass producing all-solid-state battery

LiPure Energy, a Beijing-based battery firm, said it has successfully built China’s first production line to manufacture all-solid-state lithium batteries and has already launched mass production. With a target production capacity of 200 megawatt-hours, the line is able to charge 200,000 electric scooters simultaneously, the company said. Once operating at full capacity, it is expected…

Daily parcel deliveries in China hits record high

China’s express delivery industry gears up for the Singles Day online shopping event, as data reflects a surge in handling numbers. [Photo/VCG] China’s courier sector collected 729 million parcels on October 22, an increase of 74 percent year-on-year, setting a new record for business delivery volume on a single day, according to the State Post…

Oman sees new construction plant with Chinese businesses

On Monday, Vale and Jinnan Iron & Steel Group announced a joint partnership to establish an iron ore concentration plant in Sohar Port and Freezone in Oman. With the initial investment exceeding $600 million, the facility will supply high-quality iron ore for the production of pellets and briquettes in the region. This will be key…