China First Automobile Works (FAW) has developed a 1700V SiC power module, which is expected to advance EV charging systems toward ultra-high voltage platforms and reduce charging time to 5 minutes. [Photo provided to chinadaily.com.cn] China First Automobile Works (FAW) has developed a 1700V SiC power module, which is expected to advance EV charging systems…
An employee sorts gold ornaments at a jewelry shop in Lianyungang, Jiangsu province. [PHOTO by SI WEI/FOR CHINA DAILY] The value of global gold demand jumped 35 percent year-on-year to exceed $100 billion for the first time ever in history in the third quarter, the World Gold Council said on Wednesday. Global gold exchange-traded-fund inflows…
A SAIC model is driven into a cargo ship headed to Europe. [Photo provided to chinadaily.com.cn] China does not acknowledge or accept the European Union’s final ruling to impose additional tariffs on electric vehicles manufactured in the Chinese market, the Ministry of Commerce said on Wednesday, vowing to take all necessary measures to protect the…
People visit Tuguachong village in Qujing city, Southwest China’s Yunnan province, on Oct 30, 2024. [Photo/Xinhua] Thanks to the development of the tourism industry, a hollow village has turned into a hot spot for tourists in Malong district, Qujing city, Southwest China’s Yunnan province. A few years ago, affected by the migration of labor for…
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,…