Residential savings have been rising constantly in China. Data from the People’s Bank of China, the country’s central bank, show that residential savings increased by 9.22 trillion yuan ($1.26 trillion) in the first quarter, up 7.7 percent year-on-year, significantly outnumbering the 1.74 trillion yuan of incremental savings from nonfinancial companies. Increase in residential savings is…
CAI MENG/CHINA DAILY The decision by China to engage in talks with the United States demonstrates its firm stance in upholding multilateralism and presents a new opportunity for the reform and improvement of the global governance system. The post-World War II multilateral trading system, with the World Trade Organization at its core, advocates for members…
Leju’s KUAVO humanoid robots in operation at Chinese carmaker Hongqi’s factory in Changchun, Jilin province, in April. [Photo provided to China Daily] At the heart of China’s Yangtze River Delta region, there is a place where the elegance of a traditional water town coexists with the pulse of cutting-edge innovation. In Wujiang district of Suzhou,…
Joe Tsai, co-founder and chairman of Alibaba Group, and Maurice Levy, emeritus chairman at Publicis Groupe, engage in a discussion at VivaTech 2025 in Paris, France on Wednesday. [Photo by Wang Mingjie/China Daily] Joe Tsai, co-founder and chairman of Alibaba Group, believes China’s edge in artificial intelligence is rooted not only in technical capability but…
In response to economic uncertainties at home and abroad, China must focus on a long-term goal that transcends immediate reactions and leverages fiscal tools to accelerate the economic shift from debt- and investment-driven to technology- and consumption-driven growth, as well as the upgrading of high-end industrial chains. In the long run, although China is the…
Lululemon held its largest yoga event in Beijing in May, drawing over 5,000 participants as part of its efforts to deepen consumer engagement and strengthen community sports. [Photo provided to chinadaily.com.cn] Athleisure brand Lululemon Athletica Inc reported solid first-quarter results for fiscal year 2025. Net revenue on the Chinese mainland rose 21 percent year-over-year, or 22…
Chinese exporters’ accelerated shift toward higher-value manufacturing and their sustained focus on innovation will continue to anchor China’s foreign trade growth this year, government officials, manufacturers and experts said on Monday. As China works to consolidate its position in global industrial chains amid rising geopolitical tensions, Chinese companies’ large-scale production capabilities, innovation strength, industrial upgrades…
Cotti Coffee International, a prominent global coffee chain brand, signs a Memorandum of Understanding (MoU) on strategic collaboration with Rwanda’s Ministry of Agriculture and Animal Resources on June 6 in Kigali, the Rwandan capital, investing in establishing the China-Rwanda International Coffee Industry Development Demonstration Park. [Photo provided to chinadaily.com.cn] Cotti Coffee, a top-tier Chinese brand…
China on Monday released a guideline aimed at further safeguarding and improving people’s livelihoods, vowing to resolve the most pressing issues facing the public and make basic social services more equitable, inclusive, and accessible. The guideline — jointly issued by general offices of the Communist Party of China Central Committee and the State Council on…
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