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A drilling platform in Kaiping South Oilfield in the South China Sea. [Photo/Xinhua] China continued to lead the global green and low-carbon energy transition in 2024, with investments in non-fossil energy accounting for one-third of global investments, CCTV News reported on Thursday. Renewable energy has become the mainstay of electric power installation and China’s petroleum…
Production line workers of new energy vehicle producer Leapmotor assemble a car at the company’s intelligent factory in Jinhua, Zhejiang province. JIN SICHENG/FOR CHINA DAILY China’s vehicle market, the world’s largest, grew even bigger in 2024, with 25.57 million units delivered, up 1.6 percent year-on-year, according to the China Association of Automobile Manufacturers. Combined with…
Staff members work on flu vaccines in Sinovac’s R&D lab in Beijing. [Photo/China Daily] China’s research and development spending totaled 3.61 trillion yuan ($496.32 billion) in 2024, up 8.3 percent from the previous year, while R&D intensity, the ratio of R&D to GDP, hit 2.68 percent during that period, an increase of 0.1 percentage point,…
A view of the headquarters of China Securities Regulatory Commission in Beijing. [CHINA DAILY] China will implement the second phase of a pilot program aimed at facilitating insurance funds making long-term stock investments in the first half of 2025, with a program size of no less than 100 billion yuan ($13.7 billion), said Wu Qing,…
Edward Cui Yibin, president of Vertiv Greater China. [Photo provided to chinadaily.com.cn] Vertiv, a global provider of critical digital infrastructure, is gearing up efforts to transform traditional data center architectures into AI factories capable of powering AI applications and accelerating digitalization across major industries in China. Edward Cui Yibin, president of Vertiv Greater China, said…
Luca de Meo, CEO of Renault Group. CHINA DAILY Renault Group does not sell cars in China but the French company is working at a mind-blowing scale with the Chinese auto sector, where CEO Luca de Meo says “the real things are happening”. Around a year ago, the Italian executive decided to build a facility…
[Photo/VCG] BEIJING — China’s public offering fund sector has maintained a stable development trend in recent years, with further measures set to boost the development of this sector in 2025, an official said at a press conference on Thursday. Assets under the management of China’s public offering funds rose to 33 trillion yuan ($4.6 trillion)…
Chinese carmakers are busy exploring overseas markets, but they still have a long way to go before becoming “world-class” companies, according to a report from consulting firm Roland Berger. Statistics from the China Association of Automobile Manufacturers show that China shipped 5.85 million units out of the country in 2024, retaining its position as the…
A worker counts Chinese currency renminbi at a bank in Linyi, East China’s Shandong province. [Photo/Xinhua] BEIJING — Chinese financial authorities have unveiled a plan to detail measures for encouraging medium- and long-term funds into the capital market to further stabilize stock performance, the country’s top securities regulator said Wednesday. The document, jointly released by…