Tourists from Italy visit the Bund area in Shanghai, East China, July 21, 2025. [Photo/Xinhua] BEIJING – China’s tourism boom is pushing upgrades in its hospitality sector, with shifting travel preferences and growing popularity of digital technologies spurring hotels to embrace cultural integration, artificial intelligence (AI) and international management. In the first half of 2025,…
China has consistently provided much-needed loans to other nations across the Global South, based on their development priorities and repayment capacity, analysts said, citing recent research that counters claims portraying the country as a primary driver of so-called “debt traps” in lower-income countries. Through concessional financing aimed at supporting infrastructure and industrialization, China has helped…
China’s artificial intelligence-driven drug discovery is accelerating its role as a prominent player in global biotech. Experts and industry insiders said the sector is drawing unprecedented international attention, even though no AI-discovered drug has yet reached the market. According to SDIC Securities, the global AI-driven drug market has more than doubled since 2021, hitting $1.76…
Shoppers browse air conditioners at a shop in Chongqing. LIU HUI/FOR CHINA DAILY GUANGZHOU — As scorching heat waves grip the globe this summer, air conditioners are fast becoming essential household appliances, fueling a boom in sales both domestically and abroad. A local resident of Panjin in Northeast China’s Liaoning province, surnamed Dong, described the…
During the 14th Five-Year Plan period (2021-25), China’s consumer market remained firmly in second place globally. Total retail sales of consumer goods rose from 39.1 trillion yuan ($5.44 trillion) in 2020 to 48.3 trillion yuan in 2024, with an average annual growth rate of 5.5 percent. The figure for 2025 is expected to exceed 50…
A drone image shows a CSSC shipbuilding site at a yard in Qingdao, Shandong province, in May. YU FANGPING/FOR CHINA DAILY The long-anticipated share-swap merger between China CSSC Holdings Ltd (CSSC) and China Shipbuilding Industry Co (CSIC) will make CSSC the world’s largest listed shipbuilder by assets and revenue, said market watchers on Monday. CSSC and…
China’s first commercial electron beam lithography system (EBL), “Xi Zhi”, developed by Zhejiang University, has entered application testing, matching international precision standards and marking significant progress in domestic quantum chip research and development. At the university’s Yuhang institute for quantum innovation, the research team is rigorously testing the large, cabinet-like machine. “This isn’t an ordinary…
A view of a Kuaishou cross-border livestreamer at the seventh China International Import Expo in Shanghai in November 2024. [Photo/Xinhua] The sustained expansion of China’s trade in services will remain a key driver of the country’s broader economic growth and has emerged as a new magnet for foreign investment, said market observers and business executives.…
The financial district of Pudong New Area. [Photo by Gao Erqiang/China Daily] Additional policy stimulus may be needed later this year to reinforce the growth momentum of the Chinese economy and support employment, as July data pointed to renewed downward pressures, economists and analysts said. While extreme weather weighed on overall economic activity last month,…
British consumer goods giant Unilever announced on Friday that its food factory and logistics center in Guangzhou, Guangdong province, went into operation. The move signifies a milestone in its synergized development of smart manufacturing and supply chain in China, it said in a statement. The plant, in Guangzhou’s Conghua district, is Unilever’s first full-range food…