In a bid to avert a potential US ban over so-called security concerns, popular social media platform TikTok announced on Friday that it had closed a deal to establish a majority United States-owned joint venture to run its US operations. Under the agreement, US and global investors — including cloud computing giant Oracle, US private…
A view of the exhibition stand of 52TOYS, a Beijing-based pop-culture toy company, during the China Toy Expo in Shanghai in October. CHINA DAILY Chinese companies are shifting from a traditional overseas expansion model built on exporting products and chasing scale, toward one defined by deep localization, digital integration and service differentiation, moving beyond merely…
Skiers dressed up in Peking Opera costumes perform a themed skiing show at the Lake Songhua Resort of Jilin, Northeast China’s Jilin province, on Nov 21. XU CHANG/XINHUA HARBIN — As China vigorously develops the ice and snow economy to boost consumption, homegrown gear makers are aiming for rapid growth in the winter sports market,…
Chinese smartphone brand iQOO has unveiled its latest mid-range phone Z11 Turbo. [Photo provided to chinadaily.com.cn] China’s smartphone market is expected to see shipments of around 278 million units in 2026, a year-on-year decrease of 2.2 percent, according to a forecast by market research company International Data Corp. Guo Tianxiang, research manager at IDC China,…
A shopper (right) looks at gold ornaments at a jewelry store in Mengzi, Yunnan province. XUE YINGYING/FOR CHINA DAILY Gold continued its upward trajectory on Wednesday, with spot prices soaring above the $4,800-per-ounce mark for the first time in history. The precious metal has gained more than 10 percent so far this month, rising by…
Snowboarders participate in the social ski sports instructor training course at the Changchun Lianhua Mountain Ski Resort in Jilin province in November. CHINA DAILY As China’s ice and snow industry experiences rapid growth, the increased involvement of financial institutions in the winter sports and recreation market will help foster a virtuous consumption cycle, injecting new…
Recent foreign media reports touting imminent approval for Tesla’s Full Self-Driving (FSD) technology in China are inaccurate, a Chinese source has said. The denial came after Reuters reported that Tesla CEO Elon Musk said on Thursday that “we hope to get Supervised Full Self-Driving approval in Europe, hopefully next month, and then maybe a similar…
A humanoid robot from “Walker” series of UBTECH conducts sorting work at the Beijing World of Robots in Beijing, capital of China, Feb 24, 2025. [Photo/Xinhua] GUANGZHOU — Chinese humanoid robot developer UBTECH has struck a deal to supply robots to European aviation giant Airbus for use in its manufacturing facilities, the tech firm, located…
The arrival of the first shipment of high-grade iron ore from Guinea’s Simandou deposit at Rizhao Port in Shandong province on Wednesday marks a transformative shift in the global steel industry, providing the high-purity feedstock essential for China’s transition toward low-carbon production. The arrival represents the first time ore from Simandou’s blocks 3 and 4…
Chinese tax authorities fined the operator of e-commerce platform Pinduoduo 100,000 yuan ($14,000) for failing to submit required tax-related information, according to the State Taxation Administration on Wednesday. The STA said that it issued a rectification order in November 2025, instructing the company to correct the violation within a specified period. Although the company later…