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Hainan FTP becomes hot spot on policy breakthrough

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An employee arranges to load the first batch of offshore goods onto a ship at Sanya Port in Sanya, Hainan province, on Dec 18. LI XUESHI/FOR CHINA DAILY On the sun-drenched sands of Sanya’s Dadonghai Beach, the rhythm of the South China Sea waves mingles with animated conversations in Russian. A couple from Saint Petersburg,…

Next stage of country’s automotive global expansion lies ahead

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China’s automotive industry has firmly established itself on the global stage, with the next phase of its international expansion set to be driven by localization and synergy between parts suppliers and carmakers, according to a new report from consultancy Roland Berger. The report suggests that Chinese automakers should transition from merely exporting products to developing…

Green push turns barren areas into power hubs

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An aerial photo shows the Jinta multi-energy complementary 100,000-kilowatt molten salt tower solar thermal power station in Jiuquan, Gansu province, on Dec 2, 2024. CAO HONGZU/FOR CHINA DAILY LANZHOU — In the vast, barren Gobi Desert of northwestern China, over 25,000 heliostats arranged in concentric circles span a total reflective area of 770,000 square meters,…

DFS Group moves to elevate Hainan’s retail landscape

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Shoppers crowd at Sanya International Duty Free Shopping Complex in Sanya, Hainan province, on Dec 20. CHINA DAILY As Hainan Free Trade Port solidifies its status as a booming consumption hub, DFS Group, which is part of French multinational LVMH Group, is making a strategic push to elevate the island’s luxury retail landscape, viewing it…

Hainan FTP’s island-wide customs lauded

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CAI MENG/CHINA DAILY The launch of island-wide special customs operations at South China’s Hainan Free Trade Port represents a major strategic initiative by China to advance high-level opening-up in the new era. It carries profound historical significance and presents broad development opportunities. This strategy aims to build it into a prominent banner and a key…

China pilots L3 vehicles on roads

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BAIC Arcfox showcases the Alpha S sedan at the Guangdong-Hong Kong-Macao Greater Bay Area International Auto Show in Shenzhen in July 2024. LIANG XIASHUN/FOR CHINA DAILY China has begun piloting Level 3 autonomous vehicles on public roads, marking a stride forward in intelligent mobility. But hurdles over liability, infrastructure and commercial rollout remain to be…

Fiscal policy for 2026 to be more proactive

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China will continue to pursue a more proactive fiscal policy next year with enhanced precision and effectiveness, to promote an effective improvement in the quality of the economy and a reasonable expansion in its scale, while maintaining social harmony and stability, said Finance Minister Lan Fo’an. He said on Saturday that the goal is to…

Revised law to spur high-level opening-up

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The revised Foreign Trade Law will strengthen China’s legal framework for high-level opening-up, promote high-quality trade growth, and enhance protection for businesses amid rising protectionism worldwide, experts and officials said. The updated provisions, which vow to further benchmark the law against international economic rules and safeguard the multilateral trading system, will also help foster a…