The logo of Meta Platforms’ business group. [Photo/Agencies] SAN FRANCISCO — US social media giant Meta Platforms, Inc on Wednesday reported financial results for the third quarter ending Sept 30, with a total quarterly revenue of $40.59 billion, a 19 percent increase year-on-year. The company’s quarterly net income increased to $15.69 billion, up 35 percent…
CAI MENG/CHINA DAILY While China’s central regulators have clearly expressed their support for capital inflows from long-term funds, the performance of late is less satisfactory. For example, China’s pension and insurance capital funds only direct 10 to 20 percent of their capital to equity investment. This level is much lower than the international average of…
China will step up countercyclical adjustments of its macro policies to bolster economic recovery in the fourth quarter, which will lay a solid foundation for achieving the annual growth target of around 5 percent this year, said officials and economists. Investors are closely watching for clues on new incremental policies as the recently announced stimulus…
A Chinese clerk counts renminbi yuan banknotes in Nantong, East China’s Jiangsu province. [Photo/IC] The internationalization of the Chinese yuan, or the renminbi, is a continuous endeavor that is currently at a critical stage of significant progress. On the one hand, the acceleration in renminbi internationalization is an inevitable trend over the long term as…
A worker disassembles refrigerators at Haier’s green recycling interconnection factory in Laixi, Shandong province, on Sept 27. [Photo/Xinhua] As the consumer goods trade-in programs continue to make progress, they will generate a significant amount of waste materials, necessitating a concerted effort to address this challenge through recycling and circular utilization, analysts said. By ensuring the…
BEIJING — China has made headway in the utilization of its first monetary policy tool to support the development of the capital market, with active participation by financial institutions in need of liquidity to increase stock investment. In the latest progress, Orient Securities announced on Wednesday that it has completed a transaction under the Securities,…
Customers enjoy malatang at a store in Tianshui, Gansu province, in April. [Photo/Xinhua] BEIJING — As the warm afternoon sun slanted in, the clamor faded to a quiet hush in a courtyard lush with trees and flowers in a coastal community of Xiamen, East China’s Fujian province. Geng Xue, 55, runs a light food eatery…
People visit the pavilion of Chinese carmaker BYD at the 2024 Paris Motor Show during the media day in Paris, France, Oct 14, 2024. [Photo/Xinhua] BEIJING — The China Chamber of Commerce for Import and Export of Machinery and Electronic Products on Wednesday expressed “great regret” on behalf of the Chinese automotive industry at the…
Production equipment presses auto parts at a manufacturing base of Wuzheng Group in Wulian county, East China’s Shandong province, March 13, 2024. [Photo/Xinhua] BEIJING – The combined profit of major industrial enterprises in China reached 5.23 trillion yuan ($735.41 billion) in the January-September period, down 3.5 percent year-on-year, the National Bureau of Statistics (NBS) said…
[Photo/IC] China firmly opposes the discriminatory investment restriction measures imposed by the United States particularly focusing on the high-tech sector, and will take countermeasures if necessary, the Ministry of Commerce said on Wednesday. The US Treasury Department on Oct 29 finalized a new rule meant to prevent US-based individuals and companies from investing in the…