China has accelerated reforms and risk management practices among small and medium-sized financial institutions this year as policymakers push to build stronger, more resilient lenders that are better rooted in local markets and more effective in supporting the real economy. One of the main approaches to restructuring small and medium-sized banks is to consolidate scattered…
A file photo shows a horse-themed setup by ByteDance’s Douyin in Shanghai on Jan 27. CHEN YUYU/FOR CHINA DAILY China’s internet giants are ramping up land purchases in major cities, committing more than 15 billion yuan ($2.2 billion) since late last year in a strategic shift from asset-light leasing to owning property tied to core…
Leveraging its first global flagship experience center — Dolby House Shanghai — Dolby, a global technology major in audio, imaging and voice, said it will deepen its cooperation with partners in China, as the country has become a key innovation hub for the company, said a senior executive. “Chinese consumers are actually teaching us what’s…
Foreign tourists buy souvenirs at a shop in Shanghai. YIN LIQIN/CHINA NEWS SERVICE A new wave of consumption activities involving debut economy, consumption upgrade, innovative digital spending as well as the integration of culture, tourism, sports and exhibitions are being held in Shanghai from the end of April through June — a fresh move to…
The renminbi is starting to gain ground in the dollar-dominated global commodity trade, as recent deals highlighted the Chinese currency’s expanding role in offering a diversified option for pricing and settlement, economists and executives said. Breakthroughs in RMB-denominated commodity transactions, regarded as one of the most difficult frontiers for the RMB’s global use, may signal…
Global electronics maker Samsung announced on Wednesday that it is to cease sales of all home appliance products on the Chinese mainland market. The move covers all home appliance categories, including televisions and monitors. Smartphone products will continue to be sold as usual. In a statement published on its official website, the company said the…
People wait to dine at a Haidilao hotpot restaurant in Shanghai on May 2. CHINA DAILY The country’s catering sector is experiencing sustained acceleration in chain store development, driven by market consolidation and operational quality upgrades, according to the 2026 White Paper on the Development of Restaurant Chains in China released by the China Chain…
A staff member weighs durians at a fruit distributor’s operating center in Guangzhou, South China’s Guangdong province, on Oct 17. DENG HUA/XINHUA BEIJING — When durian season arrives, it makes a grand entrance to China via railway wagon, cold-chain container and express vessel, bringing with it a fruit whose distinctive aroma may divide opinion, but…
An immersive historical drama tour debuts in Qingdao, Shandong province, on Sunday, with participants solving coded missions, creating traditional crafts, and role-playing patriotic stories. [Photo provided to chinadaily.com.cn] An immersive historical drama tour debuted on Sunday at Zhongshan Road in Shinan district of Qingdao, Shandong province, during the May Day holiday, offering visitors a vivid…
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