A bank staff member counts RMB and US dollar notes in Nantong, Jiangsu province. [Photo/Sipa] BEIJING – China will expand the coverage of a pilot cash-pooling service that integrates domestic and foreign currency management for multinational companies, the country’s monetary authorities said on Thursday. The program is currently being piloted in 10 localities and will…
A Transfar employee works at a plant science research center in Hangzhou, Zhejiang province, in December. LU ZHE/XINHUA Private enterprises in China must make more efforts to embrace artificial intelligence in order to gain a lead globally, a national lawmaker said on the sidelines of the two sessions that end on Tuesday. Xu Guanju, a deputy…
An aerial view of the Lin-gang Special Area of China Shanghai Pilot Free Trade Zone. [Photo provided to chinadaily.com.cn] BEIJING – As a crucial platform for the government to promote high-level opening-up, China’s pilot free trade zones (FTZs) have introduced pioneering reforms to create a first-class business environment characterized by market-oriented practices, rule of law…
Editor’s note: China is evolving into a consumption-driven economy. As it strives to revitalize consumption, the focus has shifted beyond price competition to tailored innovation, where personalized demand fuels premium-quality supply and shapes new consumption landscapes. At this key juncture, Xinhua presents three stories that explore China’s “new consumption trends” and their role in driving…
Sany Group broke ground on its Southern Africa Headquarters Development Project in Johannesburg as its latest effort to strengthen cooperation and trade ties with South Africa.[Photo provided to chinadaily.com.cn] BEIJING – China’s construction machinery operation rate climbed to 37.38 percent in the first two months of 2025, up 2.91 percentage points year-on-year, according to a…
A photo of the production line in the Luxshare automotive electronics industrial park, Fuyang, Anhui province, Aug 12, 2024. [Photo/VCG] Eyeing the huge market potential brought by the rapid growth of intelligent connected vehicles, a major Chinese electronics manufacturer is accelerating its expansion in the global automotive components sector to get ahead of the curve.…
A clerk counts renminbi yuan banknotes in Nantong, East China’s Jiangsu province. [Photo/IC] China will employ a package of targeted measures to further address local government debt this year, with a particular focus on accelerating the debt swap program, reforming local government financing vehicles and curbing the accumulation of new hidden debt, officials and analysts…
Harbin Ice-Snow World, the world’s largest ice-and-snow theme park, officially closed its 26th edition on the evening of Feb 26 in the city of Harbin, Heilongjiang province.[Photo/Xinhua] HARBIN – The market size of the ice and snow economy in Heilongjiang province, Northeast China, reached 266.17 billion yuan ($37.1 billion) in 2024, of which the output…
Zhongwei in Northwest China’s Ningxia Hui autonomous region will step up efforts to establish a big data industry center and build itself into a hub for the nation’s computing power sector, as part of a broader push to bolster the development of the digital economy, said its mayor Ma Honghai. Ma Honghai Ma, a deputy…
From left to right: Xu Xin, chairman of GE Energy Investment (China) Co Ltd; Tetsuro Homma, executive vice-president of Panasonic; Malu Nachreiner, head of the Region Asia for the Crop Science Division of Bayer; Zhuang Ye, VP of Baker Hughes North Asia GeoZone. [Photo provided to chinadaily.com.cn] Editor’s Note: This year marks a critical milestone as China concludes its…