BEIJING — China’s 2024 gross domestic product (GDP) was revised to 134.8066 trillion yuan ($19.16 trillion), down 101.8 billion yuan from the preliminary figure, the National Bureau of Statistics said on Friday. The final verified GDP growth rate for 2024 remained at 5 percent, unchanged from the preliminary calculation, according to the NBS. China’s annual…
China’s shift toward innovation-led growth is playing a key role in strengthening the resilience of the world’s second-largest economy, said Robert Koopman, former chief economist of the World Trade Organization. “I’d say right now, a big part of that has been a shift in the Chinese growth model that’s focusing more on innovation and incentives…
A view of the 10-million-kilowatt renewable energy base in Hainan Tibetan autonomous prefecture, Qinghai province. [Photo provided to chinadaily.com.cn] BEIJING — China’s total installed power-generating capacity reached 3.79 billion kilowatts (kW) by the end of November, marking a 17.1 percent year-on-year increase, official data showed on Friday. Solar power capacity led the growth with a…
BEIJING — China has achieved breakthroughs in industrial technological innovation in 2025, with the core artificial intelligence (AI) industry exceeding 1 trillion yuan ($142 billion) in scale, according to a national conference on industry and information technology held on Friday. As part of its 2026 agenda, the Ministry of Industry and Information Technology emphasized cultivating…
China will raise basic old-age benefits for hundreds of millions of rural and nonworking urban residents next year, marking the eighth such increase since the system’s establishment, as part of broader efforts to bolster social security and domestic consumption, experts said. “We will continue to raise basic pensions for rural and nonworking urban residents, so…
A pharma researcher works at a lab in Haikou, Hainan province, on Feb 5. SU BIKUN/FOR CHINA DAILY Chinese pharmaceutical innovations are gaining greater scientific visibility, as a growing number of high-quality clinical studies led by domestic researchers appear in leading international medical journals, experts and business insiders said. A recent example is a Phase…
Chips are displayed at the exhibition area of Central China’s Hubei province of the second China International Supply Chain Expo in Beijing, China, Nov 27, 2024. [Photo/Xinhua] China strongly opposes the United States’ imposition of Section 301 tariffs on Chinese semiconductor products and will respond with necessary measures to safeguard its interests, said the Ministry…
An employee works at a casting facility in Maanshan, Anhui province, on Aug 7. ZHANG MINGWEI/FOR CHINA DAILY China’s steel demand is holding firm in key sectors such as new energy vehicles, automobiles and home appliances, reflecting a shift toward higher-quality industrial consumption, even as overall demand is projected to gradually decline over the next…
A customs official (left) helps foreign visitors at Sanya Phoenix International Airport in Hainan province on Dec 18. MENG XUSHUN/XINHUA The rollout of the island-wide special customs operations on Dec 18 in Hainan Free Trade Port ushers in a new stage of Hainan province’s development, unlocking freer flows of goods, capital, personnel and data under…
Shanghai received about 8.28 million inbound tourists from January to November, up nearly 40 percent year on year, surpassing the full-year total for 2024.[Photo/Xinhua] Shanghai’s… Read More »Shanghai sees nearly 50-pct surge in foreign tourists in Jan-Nov