Employees check equipment at a petrochemical plant in Lianyungang, Jiangsu province.[SI WEI/FOR CHINA DAILY] China’s petrochemical industry is expecting to bolster profits this year, marking a key turning point after a period of challenges, said industry experts. The petrochemical sector’s revenue rose to 16.28 trillion yuan ($2.24 trillion) last year, up 2.1 percent year-on-year amid…
Tian Xuan, associate dean of Tsinghua University’s PBC School of Finance. [Photo provided to chinadaily.com.cn] The rise of DeepSeek and Ne Zha 2 signifies that China’s innovation ecosystem is gaining a stronger foundation, paving the way for the emergence of more groundbreaking innovations that “we might not even be able to imagine now”, said a…
A lottery sales center seen in Wuhan, Hubei province.[Photo provided to CHINA DAILY] While artificial intelligence has shown immense potential for applications in various fields, it cannot predict winning lottery numbers, according to a statement issued by sports lottery administrative authorities. The statement was issued recently by China Sports Lottery, along with the sports lottery…
A Ne Zha-themed cake on display at a bakery in Wan Chai, Hong Kong, attracts the attention of a passer-by on Saturday. [HOU YU/CHINA NEWS SERVICE] Chinese animated blockbuster Ne Zha 2 grossed more than $845,900 upon its debut in the Hong Kong and Macao special administrative regions on Saturday, achieving the highest first-day box…
State Grid Zhejiang Electric Power Co Ltd recently launched a prediction center leveraging artificial intelligence to precisely forecast electricity use. The move came as an increasing amount of intermittent renewable power is being connected to the grid. As renewables such as coals are hard to manage, the former’s connection to the grid would cause instability…
Hisense’s TV products have integrated DeepSeek’s large language models. [Photo provided to chinadaily.com.cn] Chinese home appliance maker Hisense Group said it will continue to increase investments in research and development, bolster technological innovation and boost its brand awareness via sponsorship of major world-class sporting events. The company has become the first official partner of the…
BEIJING — China’s local state-owned enterprises (SOEs) maintained steady operations in 2024, marked by an increase in fixed-asset investment and profits, official data shows. The fixed-asset investment of local SOEs totaled 7 trillion yuan ($976.22 billion) last year, an increase of 4.2 percent year-on-year, according to the State-owned Assets Supervision and Administration Commission of the…
BEIJING — China will increase credit support for private enterprises, the country’s financial regulator has said. Efforts should be made to maintain a stable and effective increase in credit supply to private enterprises, and to strengthen support for first loans, renewals and credit loans to small and micro companies, the National Financial Regulatory Administration said…
China’s manufacturing sector utilized over 220 billion yuan ($30.3 billion) in foreign investment in 2024, marking a significant step in the country’s push for high-level opening-up. Yao Jun, head of the planning department at the Ministry of Industry and Information Technology, said at a news conference on Thursday that China had fully lifted all foreign…
The 2025 Global Developer Conference took place from Feb 21 to 23 in Shanghai’s Xuhui district, attracting developers from around the world to witness and share groundbreaking achievements in artificial intelligence. Several domestic and international developers shared their views on the profound impact of DeepSeek, an open-source large language model. Andrew Aitken, technical oversight committee…