China is ramping up efforts to expand domestic demand by placing greater emphasis on boosting consumption, expanding effective investment and raising incomes, as policymakers move to make the vast domestic market a stronger anchor for growth and sustain economic resilience amid external uncertainties, officials and experts said on Friday. Expanding domestic demand has been identified…
Foreign tourists seen at the Palace Museum in Beijing earlier this month. WANG XIN/FOR CHINA DAILY China’s travel and tourism sector is rapidly closing the gap with the United States and could become the world’s largest within the next few years, as strong inbound demand and policy support fuel a sustained recovery in international travel.…
China’s top market regulator fined seven major e-commerce and food delivery platforms a combined total of 3.59 billion yuan ($530 million) on Friday for violations related to “ghost kitchen” operations, in one of the country’s largest penalties regarding online food safety. Ghost kitchens are unqualified food preparation facilities that produce meals exclusively for delivery and…
Chinese company Aladdin Holdings Group and the Ethiopian embassy in Beijing sign a strategic memorandum on Wednesday for a proposed China-East Africa Modern Agriculture and Cultural Tourism Industry Innovation Center. [Photo provided to chinadaily.com.cn] Chinese company Aladdin Holdings Group and the Ethiopian embassy in Beijing signed a strategic memorandum on Wednesday for a proposed China-East…
State Grid Taizhou Power Supply Company recently held a volunteer activity at a local center serving special groups in Taizhou, Zhejiang Province, where its volunteers carried out electrical safety checks and took part in a series of interactive activities with the participants. Through the “Light Knockers” community care initiative, the volunteers inspected wiring, switches and…
Sheng Hong, senior partner at McKinsey & Company Senior executives of management consulting firm McKinsey & Company have urged Chinese companies going global to integrate into the local ecosystem, and customize and develop products for the local market to meet the needs of customers. Sheng Hong, senior partner of McKinsey & Company, said: “For many…
China’s top securities regulator released draft rules detailing administrative penalties for illegal share disposals by major shareholders on Friday, in a move to better protect investors’ rights. The China Securities Regulatory Commission said the draft implementation rules, open for public consultation till May 17, have detailed the definition and punishment of illicit securities transfers. Sources…
Manycore Tech became the world’s first publicly traded spatial intelligence company listed on the Hong Kong Stock Exchange on Friday, under the stock code 00068.HK. The listing also marks the first initial public offering (IPO) among Hangzhou’s much-talked-about “Six Little Dragons” of tech startups. Since the launch of its public offering, the company has attracted…
Guangdong’s import and export volume reached 2.54 trillion yuan ($181.7 billion) in the first quarter, up 19.4 percent year-on-year, customs data showed Friday, extending the province’s streak of positive annual growth to 14 consecutive months. Exports rose 14.3 percent to 1.53 trillion yuan over the period, while imports climbed 27.8 percent to 1.01 trillion yuan,…
China’s overall nuclear power footprint, including units both in operation and approved for construction, has reached a world-leading 125 million kilowatts, driven by a rising number of new projects, according to an industry blue book released on Friday. The China Nuclear Energy Development Report 2026, published by the China Nuclear Energy Association, said that the…