Fuxing oilfield in the Sichuan Basin, the first shale oilfield in the country’s southwestern region. [Photo/Sinopec] China has achieved a significant milestone in shale oil exploration with the discovery of the Fuxing oilfield in the Sichuan Basin, the first shale oilfield in the country’s southwestern region. With initial proven reserves of 20.1 million metric tons…
An employee works in front of the rotating beam of Yulin-Cenxi section on the Nanning-Zhuhai High-Speed Railway. LI XIAOYAN/CHINA DAILY Standing near a newly rotated continuous girder bridge traversing the Yiyang-Zhanjiang Railway, 25-year-old builder Deng Yelong was proud that the 14,000-metric-ton giant structure came into perfect position after a year of hard work. The girder…
BEIJING — China’s service trade maintained steady growth in the first half of this year, with total imports and exports reaching 3.89 trillion yuan ($544.9 billion), up 8 percent year-on-year, the Ministry of Commerce said on Monday. Specifically, service exports rose 15 percent to 1.69 trillion yuan, while imports increased 3.2 percent to 2.2 trillion…
BEIJING — China’s service trade maintained steady growth in the first half of this year, with total imports and exports reaching 3.89 trillion yuan ($544.9 billion), up 8 percent year-on-year, the Ministry of Commerce said on Monday. Specifically, service exports rose 15 percent to 1.69 trillion yuan, while imports increased 3.2 percent to 2.2 trillion…
A wax gourd grown by Ma Xiao (left) is presented in the Cacuaco Social Housing Project in Angola. CHINA DAILY Ma Xiao, 53, can vividly remember his experience helping build the Cacuaco Social Housing Project in Angola 17 years ago, as workers lived in tents surrounded by uncleared land mines, swarms of mosquitoes, venomous serpents…
Consumers try out L’Oreal cosmetics during the seventh China International Import Expo in Shanghai in November. CHEN HAOMING/XINHUA L’Oreal Group reported a modest rise in first-half earnings, fueled by double-digit growth in emerging markets and a return to growth on the Chinese mainland. Sales in the six months through June rose 3 percent on a…
BEIJING — China’s State Taxation Administration on Monday released value-added tax (VAT) invoice data for the first half of 2025, revealing steady growth in sales revenues among businesses nationwide. Specifically, the data shows that manufacturing sales revenues grew 1.5 percentage points faster than the country’s overall sales revenue growth during the January-June period, reinforcing the…
An employee checks automobiles on an assembly line at a factory in Chongqing. LONG FAN/FOR CHINA DAILY China’s machinery sector registered steady growth across key economic indicators in the first half, underpinned by strong performance in the automotive and electrical machinery segments, said the China Machinery Industry Federation (CMIF) on Monday. In the January-June period,…
[Photo/VCG] To shift the banking sector from scale-driven expansion to value creation and reduce long-term risk, experts have called on banks to strengthen self-discipline and abandon their obsession with size and speed, warning against destructive “involution-style” competition. In recent years, under mounting pressure, China’s banking sector has increasingly engaged in such competition — marked by…
A customer checks out products in Leshan, Southwest China’s Sichuan province, June 15, 2025. [Photo/Xinhua] China’s prosperity index in the retail industry, a comprehensive index reflecting changes in retail business expectation in the current period, reached 50.1 percent in August, up 0.5 percentage points compared with that of July, according to a survey released by the China…