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Visa reports increase in Shanghai inbound tourism spending

Yin Xiaolong, general manager of Visa Chinese mainland. [Photo provided to chinadaily.com.cn] Shanghai’s inbound consumption is heading in an upward direction, according to data for the first quarter of 2026 released by Visa. The data indicated that Shanghai’s inbound tourism numbers increased by 29.1 percent year-on-year, while the offline card transaction amount has increased by…

AI emerges as new growth engine for industries

An AI digital chassis is displayed at the Smart Vehicle exhibition area during the fourth China International Supply Chain Expo (CISCE) in Beijing, capital of China, June 23, 2026. [Photo/Xinhua] BEIJING — Artificial intelligence is fast becoming a reliable engine of growth for China’s industrial transformation. From factories and mines to classrooms and hospital wards,…

Beijing objects to nationalization of British Steel

China’s Ministry of Commerce has expressed opposition to the British government’s nationalization of British Steel, saying the move seriously harms the legitimate rights and interests of its Chinese owner Jingye Group, and undermines the confidence of Chinese companies investing in the United Kingdom. The ministry issued the remarks via a statement on Friday after the…

WAIC fosters partnership for a better future

Guided by multilateralism and an open, inclusive mindset, China has proactively advanced global artificial intelligence governance and international collaboration, contributing Chinese solutions to fuel global growth in the intelligent era. Zhou Haibing, deputy director of the National Development and Reform Commission, said that China took the lead in rolling out the Global AI Governance Initiative,…

Adults seen as key driver to Lego’s growth in China

Consumers take photos of Lego exhibits at a shopping center in Shanghai on June 15. CHEN YUYU/FOR CHINA DAILY Lego Group is betting on the country’s expanding toy market by investing in retail innovation, locally relevant branding and adult-focused products as the Danish toymaker ramps up the next phase of growth. The company’s strategy is…

New measures aim to boost cross-border investment

China is set to roll out a new package of measures to further facilitate cross-border investment and financing, the State Administration of Foreign Exchange said on Friday. The measures will focus on further facilitating direct investment, advancing high-standard opening-up in cross-border financing and streamlining registration procedures for capital-account transactions, said Xiao Sheng, head of SAFE’s…

Shanghai emerges as international research and development hub

Visitors try their hand at novel devices at the SMC Shanghai Foundation Model Innovation Center during a WAIC City Walk. CHINA DAILY As the 15th Five-Year Plan (2026-30) outline calls for seizing the commanding heights of industrial artificial intelligence applications and delivering comprehensive empowerment to all sectors of the economy, the nationwide AI-driven industrial transformation…

A glance at tech solutions on display

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