CNOOC Limited announced on Thursday that it has made a major breakthrough in the exploration of Paleozoic buried hills in the Beibu Gulf Basin. The Weizhou 10-5 oil and gas field is located in the Beibu Gulf of the South China Sea, with an average water depth of about 37 meters. Exploration well WZ10-5-1Sa encountered an…
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Runners seen at the starting point of the Bimbo Global Race 2024 at Beijing Olympic Park on Sept 28. [CHINA DAILY] Grupo Bimbo, a Mexican multinational food company, is deepening its footprint in China with significant investments and strategic initiatives aimed at capitalizing on the country’s massive market potential, signaling optimism about the country’s long-term…
Employees work on a production line of NEV maker BYD in Xi’an, Shaanxi province. [YUAN JINGZHI/FOR CHINA DAILY] BEIJING – China has announced a series of relaxed rules for merger and acquisition (M&A) loans targeting tech companies in a pilot program aimed at channeling more capital into sci-tech innovation and enhancing China’s technological competitiveness, according…
Chinese companies plan to invest more in responsible artificial intelligence measures as the responsible development and use of data and AI becomes a critical enabler for organizations to gain a competitive edge through innovation, according to a report released by global consultancy Accenture. About 47 percent of Chinese companies see responsible AI as a strategic…
AI MENG/CHINA DAILY There have been lots of discussions lately about some major adjustments in China’s macroeconomy. Speaking of root causes, in general, there are five groups who hold views as outlined below. The first group believes that due to the ongoing Sino-US tensions, a deterioration in the external environment has led to China’s macroeconomic…
The high-voltage power grid stretches across the grasslands of Inner Mongolia autonomous region. [Photo provided to chinadaily.com.cn]] In 2024, Inner Mongolia autonomous region, one of China’s key energy-producing regions, transmitted 315 billion kilowatt-hours of electricity to other provinces and municipalities, securing its position as the nation’s top electricity exporter. This strong momentum has continued into…
Employees work on the production line of a foreign-funded electronics company in Rongcheng, Shandong province. LI XINJUN/FOR CHINA DAILY Foreign companies remain steadfast in expanding their presence in the Chinese market, driven by the country’s economic vitality and an increasingly optimized business environment that bolsters their confidence, business executives said on Wednesday. Despite rising geopolitical tensions…
MA XUEJING/CHINA DAILY China’s policymakers will enhance countercyclical adjustments and take more steps to boost consumption, as the broader economy still faces pressing challenges from lackluster domestic demand and uncertainties from the external environment, economists said. Their comments have come at a time when the market is eagerly awaiting proactive moves to revive the economy…
The launch ceremony of Bayer E-Town Open Innovation Center is held in Beijing on Monday. [Photo provided to China Daily] Germany-based life sciences giant Bayer unveiled Bayer E-Town Open Innovation Center in Beijing on Monday, adding another tier to the company’s long-term commitment to Chinese healthcare. “This is another significant milestone for Bayer Pharmaceuticals in…