A UBTech humanoid robot demonstrates its capabilities on a model of a factory assembly line, at the World Robot Conference in Beijing. FLORENCE LO/REUTERS UBTech Robotics is confident that its humanoid robots will achieve widespread factory applications within three years, a top executive of the Chinese artificial intelligence and humanoid robotics company said on…
A poster of the film Alien: Romulus. [Photo provided to chinadaily.com.cn] China’s 2024 summer box office — from June 1 to Aug 31 — grossed 11.64 billion yuan ($1.63 billion), having a total of 285 million admissions, according to statistics from the National Film Administration. Domestic films accounted for 8.48 billion yuan, representing 72.84 percent of…
In a recent interview with China Perspectives, Zhang Ming, deputy director of the Institute of Finance & Banking at the Chinese Academy of Social Sciences, said that compared with the past, it is true that the probability of the Chinese central government providing direct support to low and middle-income groups has increased notably. Zhang suggested…
Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. [Photo/Agencies] BEIJING – China’s banks have seen steady asset expansion since the start of the year, an official with the country’s financial regulator said on Wednesday. The assets of financial institutions in China’s banking sector grew 7 percent year-on-year to…
The Inner Street Culture Creative Park is bustling with activity during the night market in Qingxiu district, Nanning, Guangxi Zhuang autonomous region, on April 16, 2024. [Photo/CFP] China should further bolster its economy by stepping up fiscal and monetary policy support, including raising the budget deficit and effecting more cuts in the reserve requirement ratio…
A poster for an MG-4 EV, a brand of Chinese state-owned carmaker SAIC, is displayed at a car showroom in Santander, Spain, June 13, 2024. [REUTERS/Vincent West] BEIJING – SAIC Motor, a major Chinese carmaker, said it will take further legal action to defend its rights and interests if necessary as the European Commission will…
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Chinese people spent 1.04 trillion yuan ($145.65 billion) on luxury goods in 2023, accounting for 38 percent of global luxury goods market, according to ThePaper, citing China Luxury Report released by Yaok Institute. China’s luxury goods industry is becoming a core force driving consumption growth in the country, said Zhou Ting, head of the Yaok…
A visitor checks out Haier’s booth during an electronics expo in Shanghai in March. CHINA DAILY BEIJING — With its far-reaching impact across various sectors, the data industry is rapidly evolving into a game-changer in China, contributing to the country’s economic growth and digital transformation. Last year, the total amount of data generated nationwide reached…
Containers are loaded onto ships at Huai’an Port in East China’s Jiangsu province. ZHAO QIRUI/FOR CHINA DAILY BEIJING – China’s logistics sector continued steady expansion in August thanks to growing logistics demand, an industry report showed Monday. The index tracking the country’s logistics market stood at 51.5 percent in August, up 0.5 percentage points from…