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China expands departure tax refund policy to Jilin province

BEIJING – China will roll out its departure tax refund policy in Jilin province from Sept 1, the Ministry of Finance said on Wednesday. The policy allows overseas tourists to claim back value-added tax on eligible purchases made at designated tax refund stores before leaving the country. Eligible regions can adopt the policy after filing…

China leads in large-scale offshore heavy oil thermal recovery

CNOOC booth at an expo held in Shanghai on Dec 6, 2024. [Photo/VCG] China National Offshore Oil Corporation (CNOOC) announced on Saturday that its offshore heavy oil thermal recovery technology system and core equipment have achieved significant progress in large-scale application, with cumulative offshore heavy oil thermal recovery exceeding 5 million metric tons. This achievement…

BOC working to boost global power of renminbi

From left: The booth of Bank of China at the third China International Supply Chain Expo. [Provided to China Daily] A staff member from Bank of China’s Chongqing Shapingba branch handles cross-border financial services for a customer. [SUN KAIFANG/FOR China Daily] According to the latest semi-annual report released by Bank of China on Friday, the…

China intl trade representative holds talks with US officials, business representatives

BEIJING — Li Chenggang, China international trade representative with the Ministry of Commerce and vice-minister of commerce, visited the United States and held talks with US officials and business representatives from Aug 27 to 29 local time, the ministry said on Saturday. He met with officials from the US Department of the Treasury, the US…

Growth on horizon as panda bonds attract new investors around the globe

A woman tries e-CNY services at the Bank of China booth during the 2024 China International Fair for Trade in Services in Beijing. DU JIANPO/FOR CHINA DAILY The panda bond market, in which overseas institutions issue renminbi bonds in China’s onshore market, is poised to attract new issuers. On July 22, the Bank of China, as…

China calls for closer US dialogue to strengthen economic ties

China’s top trade negotiator urged closer dialogue and cooperation with the United States during his talks in Washington earlier this week, calling for joint efforts to ensure stable and sustainable growth in bilateral economic ties, said the Ministry of Commerce in a statement on Saturday. Li Chenggang, China’s international trade representative and vice-minister of commerce,…

Tianjin sets sail for future

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