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Over 20 Chinese listed companies become first batch to receive loans for share buybacks, increasing shareholdings

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China’s Jiangsu province. [Photo/IC] BEIJING – More than 20 Chinese listed companies on Sunday announced that they have signed agreements with financial institutions or obtained commitment letters to secure loans for share buybacks and increasing shareholdings. The announcements came after China’s central bank launched a…

Chinese-made tunneling machine passes milestone

The world’s largest shield machine for railway construction, a tunneling device with a diameter of 15.4 meters, excavates its 1,000th ring segment on Sunday to reach 2 kilometers, a milestone in the construction of a tunnel beneath the Yangtze River for a high-speed railway. [Photo provided to chinadaily.com.cn] The world’s largest shield machine for railway…

Deals worth 5.57b yuan signed at conference attended by over 1,000 intl delegates

The second edition of the Linyi Trade City International Sourcing Conference for Belt and Road Initiative Cooperation was held in Linyi, Shandong province, from Thursday to Saturday. [Photo provided to chinadaily.com.cn] More than 1,070 international participants from 63 countries and regions, including 49 nations and regions involved in the Belt and Road Initiative, gathered in…

Eyeing growing demand, Mandarin Oriental to further invest in China

A view of the Mandarin Oriental Qianmen hotel in Beijing. The company has vowed more investments in China to further tap growing local demand. CHINA DAILY Mandarin Oriental Hotel Group said it will continue to invest in different cities in China — a massively important market, to satisfy the growing demand of discerning and sophisticated Chinese…

CNOOC subsidiary secures contracts for exploration blocks off Brazilian coast

CNOOC booth at an expo held in Shanghai on June 9, 2021. [Photo/VCG] CNOOC Petroleum Brasil Ltda, a wholly owned subsidiary of CNOOC Limited, has entered into four concession contracts for exploration blocks offshore Brazil with the Brazilian National Agency for Petroleum and the partners in the Pelotas Basin, in an announcement on Thursday. The…

Humanoids make waves on factory floors

Humanoids of Unitree Robotics at the World Robot Conference in Beijing in August. CHINA DAILY In Hangzhou, East China’s Zhejiang province, a sleek silver humanoid robot, standing at an impressive 180 centimeters, made an unexpected appearance among a group of “dancing grannies” performing a lively exercise routine. To the grannies’ amazement, their robotic partner wasn’t just…

Housing recovery in big cities takes off

A pedestrian walks past a real estate agency in Shanghai. [CHINA DAILY] The rapid recovery of pre-owned home transactions in the largest Chinese cities is widely attributable to a series of local optimization measures implemented at the end of September, which are expected to boost market confidence and stabilize property sector development nationwide, said industry…

Automatons looking, acting, working more like us

Visitors check out a humanoid robot at the World Robot Conference in Beijing in August. LI MUYI/FOR CHINA DAILY When I recently visited Unitree Robotics, a cutting-edge Chinese humanoid robot company in Hangzhou, Zhejiang province, I decided to test their creation in a unique way. I volunteered for an experiment — having both the robot and…

China’s game industry seeing speedy growth momentum

A gamer showcases promotional material for Black Myth: Wukong in Shanghai. Aug 21, 2024. [Photo/VCG] China’s gaming industry reached a record high in revenue, hitting 91.77 billion yuan ($12.89 billion) in the third quarter of 2024, marking an 8.95 percent increase year-on-year, according to an industry report released on Wednesday. Thanks to the outstanding performance…

Stimulus plan seen around 10 trln yuan

A worker counts Chinese currency renminbi at a bank in Linyi, East China’s Shandong province. [Photo/Xinhua] China’s much-anticipated fiscal stimulus package could amount to somewhere around 10 trillion yuan ($1.4 trillion), which would represent reasonable and moderate funding to address the most immediate issues facing the world’s second-largest economy, policy researchers and advisers said. They…