In a recent interview with #ChinaPerspectives, Huang Hanquan, head of the Chinese Academy of Macroeconomic Research, said China’s real estate supply-demand relationship has undergone significant changes, and the country needs to accept the reality of the declining contribution of real estate to economic growth. He said the country should foster new pillar industries including next-generation…
Ouyang Minggao, an academician of the Chinese Academy of Sciences, speaks at the 2024 World Power Battery Conference in Yibin, Sichuan province, on Sept 1. [Photo provided to chinadaily.com.cn] China’s lithium-ion battery industry is expected to see its production exceed 1 billion kilowatt-hours this year, said Ouyang Minggao, an academician at the Chinese Academy of…
People gather at a Kcoffee booth in Shanghai in May. CHEN YUYU/FOR CHINA DAILY Yum China Holdings Ltd is ramping up its coffee business with the rapid expansion of its Kcoffee brand, boosted by its existing vast KFC network and pricing strategy. Kcoffee has accelerated the rollout of new stores this year, with Yum China opening…
As collaboration between China and African countries presents vast opportunities, China Railway Resources Group is planning to strengthen cooperation with partners in the Democratic Republic of Congo (DRC), a senior company executive said. “We will continue to leverage our advantages, technology and management to boost mutual development, engage in broader and deeper cooperation with companies…
An OREO-Coca-Cola pop-up store in Shanghai in early September 2024. [Photo provided to chinadaily.com.cn] As co-branded marketing continues to thrive in both Chinese and global markets, Oreo, a popular snack brand, plans to allocate more resources to appeal to young consumers, staying aligned with the fast-changing consumer trends in China, according to a statement released…
Chinese tech heavyweight, Alibaba Group Holding Ltd, announced that the company’s shares traded on the Hong Kong bourse have been included in the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect programs on Tuesday. Eligible investors from the Chinese mainland have direct access to the trading of the company’s ordinary shares, the company…
An employee promotes products via livestreaming during a trade fair in Shanghai in May. [Photo/Xinhua] Shanghai is ramping up efforts to further develop its livestreaming economy and expand retail sales in the sector to 600 billion yuan ($84.3 billion) by 2026, according to a three-year action plan unveiled by the government last week. The city…
Consumers enjoy coffee at a Luckin Coffee store in Xuzhou, Jiangsu province, in August. [Photo provided to China Daily] Luckin Coffee, a leading player in China’s coffee market, has long considered Starbucks its primary competitor. With over 20,000 stores nationwide as of July this year, Luckin has surpassed Starbucks as the largest on-premise coffee chain in…
Scores of people attend the Chengdu Motor Show, which kicked off on Friday and ran through Sept 8 in Chengdu, Sichuan province. [Photo by Cao Yingying/China Daily] BEIJING — China’s new energy passenger vehicle market continued to see robust growth in August, with retail sales reaching 1.03 million units, industry association data showed on Monday.…
An aerial view of a CNOOC drilling platform in Bohai Bay. [Photo/Xinhua] China’s efforts to bolster energy security took a significant leap forward as its two largest oilfields achieved historic production milestones, underscoring the nation’s commitment to enhancing domestic energy supplies amid global uncertainties. China National Offshore Oil Corp (CNOOC) said last Tuesday that Bohai…