BEIJING — China’s State Taxation Administration on Monday released value-added tax (VAT) invoice data for the first half of 2025, revealing steady growth in sales revenues among businesses nationwide. Specifically, the data shows that manufacturing sales revenues grew 1.5 percentage points faster than the country’s overall sales revenue growth during the January-June period, reinforcing the…
An employee checks automobiles on an assembly line at a factory in Chongqing. LONG FAN/FOR CHINA DAILY China’s machinery sector registered steady growth across key economic indicators in the first half, underpinned by strong performance in the automotive and electrical machinery segments, said the China Machinery Industry Federation (CMIF) on Monday. In the January-June period,…
[Photo/VCG] To shift the banking sector from scale-driven expansion to value creation and reduce long-term risk, experts have called on banks to strengthen self-discipline and abandon their obsession with size and speed, warning against destructive “involution-style” competition. In recent years, under mounting pressure, China’s banking sector has increasingly engaged in such competition — marked by…
A customer checks out products in Leshan, Southwest China’s Sichuan province, June 15, 2025. [Photo/Xinhua] China’s prosperity index in the retail industry, a comprehensive index reflecting changes in retail business expectation in the current period, reached 50.1 percent in August, up 0.5 percentage points compared with that of July, according to a survey released by the China…
An ice sculpture exhibit in Harbin Ice and Snow World Park in Heilongjiang province, July 21, 2025. [Photo/IC] HARBIN — While much of China swelters under scorching summer heat, Harbin, capital of Northeast China’s Heilongjiang province, is drawing visitors with a refreshing contrast, offering a chilly escape fueled by its renowned ice and snow tourism.…
SAIC Audi launches the all-new A5L Sportback in Shanghai on Aug 1, 2025. [Photo by Wang Yuchen/chinadaily.com.cn] SAIC Audi is enhancing its brand image with the launch of A5L Sportback – a gasoline-powered vehicle equipped with Huawei’s ADS smart driving technology. “The all-new SAIC Audi A5L Sportback further reinforces the brand positioning of Young, Tech,…
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A branch of the popular Chinese Heytea chain in Times Square, New York, March 8, 2025. [Photo/VCG] HANGZHOU/JAKARTA — Although the traditional spring harvest season is now over, in the humming workshop of a tea company in the city of Shengzhou, East China’s Zhejiang province, the aroma of fresh leaves still lingers in the air,…
A Starlight recreational vehicle is seen at a suburban resort in Beijing on Aug 1, 2025. [Photo provided to chinadaily.com.cn] Chinese recreational vehicle startup Starlight opened its flagship experience center in Beijing on Friday, unveiling strategic partnerships with leading players in manufacturing, rental, and travel services to meet growing demand for self-driving tourism. Working with…