China's financial sector will continue to open up wider, and the country will support foreign institutions in participating more comprehensively and deeply in the Chinese financial market, officials said on Tuesday at the ongoing 2024 Global Financial Leaders' Investment Summit held in Hong Kong.
China's holdings of US treasury bonds fell to $772 billion in September, a drop of $2.6 billion from a month earlier, marking the third consecutive monthly decline, according to the latest data released by the US Department of the Treasury on Monday.
China has recently introduced a set of incremental policy measures aimed at stabilizing growth, expanding domestic demand, and mitigating risks. These policies are not only focused on addressing current challenges but also on tackling major issues affecting the country's long-term economic development, economists stated at a forum hosted by the China Public Diplomacy Association in Beijing on Monday.
Consumers are typically most concerned with the price and quality of goods. It should be up to consumers, not protectionist trade policymakers, to decide which products to purchase. At the very least, Western consumers should have the freedom to make their own choices without interference from protectionist trade policies.
China's youth unemployment situation improved in October compared with the previous month, with the rate for those aged 16 to 24 (excluding students) hitting a three-month low. An expert said that this is a sign of a job market recovery with potential for further improvement.
Brain-computer interfaces (BCI) technology is advancing rapidly in China, according to scientists and experts at a recent industry forum held on Saturday. The research on BCI technology in China has reached a pivotal stage, transitioning from laboratory research to market applications. Analysts said this progress is poised to significantly contribute to economic growth and foster new competitive advantages.
China's top securities regulator said on Monday that the authority is launching a new round of reform and opening-up of the capital market, as more measures will be rolled out to create a better environment for global investors to participate in the Chinese market.
China will take six cities as the pilot cities to pilot electric vertical take-off and landing (eVTOL) aircraft services, media reported on Monday, in a move to further tap into the potential of the low-altitude economy.
Chinese automaker BYD delivered its 10-millionth new-energy vehicle (NEV) on Monday, marking the first time any automaker worldwide has achieved this milestone, the company announced on Monday.
Shanghai on Monday further relaxed its real estate policies, eliminating distinction between ordinary and non-ordinary homes and expanding tax incentives for property transactions, in an effort to bolster the real estate sector.
China's parcel delivery sector has broken another record, handling more than 150 billion parcels as of Sunday this year and surpassing the total volume for last year, official data showed on Monday.
Construction has been completed on the China-Russia east-route natural gas pipeline, a vital energy corridor for China, and the facility is in its final commissioning phase, the National Oil and Gas Pipeline Network Group (PipeChina), the builder of the project, said on Monday as reported by CCTV.
On Monday morning, a China-Europe freight train loaded with 110 containers of daily necessities, auto parts, and machinery equipment departed from Yiwu, China's small commodity hub in Zhejiang Province, for Madrid, Spain. Monday marked the 10th anniversary of the operation of the route.
At a time when China's NEV industry has just set a new annual production record, old photos are being dug up again, using groundless and misleading reports about "EV graveyards" to talk down China's EV industry. The ill intention behind this is to suggest that "China's EV industry is struggling with issues of disorderly development and capacity waste." However, this is not true.
As the COP29 enters its second week in Baku, Azerbaijan, China's commitment to emission reduction and global cooperation in the joint response to climate change has been in the spotlight, including the establishment of the world's largest and most complete new-energy industry chain and 177 billion yuan ($24.5 billion) of funding for Global South projects.
Robust trade between China and Brazil continues to promote mutually beneficial bilateral trade and economic ties, while a number of sectors have profound growth potential, industry insiders from the two countries said.
China and Latin America have great potential for cooperation in the green and new-energy sectors, as China's advanced new-energy technologies and products match the region's emerging need for clean energy and overall social and economic development, Chinese and Peruvian business leaders told the Global Times.
Sunday marked the 10th anniversary of the mutual access mechanism connecting capital markets in the Chinese mainland and the Hong Kong Special Administrative Region (HKSAR). Over the past decade, the growing integration between the two markets has deepened, enhancing Hong Kong's unique and increasingly attractive role on the global stage, Financial Secretary of the HKSAR government Paul Chan Mo-po said.
With the global economy, including China's, facing challenges, some Western politicians and media outlets have stepped up smear campaigns against the world's second-largest economy. They selectively highlight information and distort facts to promote their narratives like “Peak China,” while ignoring China's economic resilience and growth potential. To set the record straight, the Global Times is launching a multimedia project featuring in-depth articles, analyses and visual arts to provide a balanced and accurate portrayal of the Chinese economy. This is the 17th installment of the series.
Brazil views China-Brazil tourism as a key driver of mutual growth, believing it will further strengthen the friendly relations between the two countries. It is also expected that the development of the tourism industry will bring long-term economic and cultural benefits to both China and Brazil, Marcelo Freixo, president of Embratur told the Global Times.
China's trade with Brazil increased by nearly 10 percent in the first 10 months of 2024, highlighting the deep economic and trade ties the two nations have built over the past 50 years., Chinese state broadcaster CCTV said on Sunday.
China has been Canada's second-largest trade partner for many years, and economic and trade cooperation has been a major driver of bilateral relations, Chinese Commerce Minister Wang Wentao said on Saturday, while calling for joint efforts to manage and resolve trade disputes, which will serve the fundamental interests of both countries.
Chinese and European teams have reached "technical consensus" in recent electric vehicles (EVs) talks, after in-depth discussions on the specifics of the price commitment plan on China-made EVs, Yuyuan Tantian, a social media account affiliated with state broadcaster CCTV, said in a post on Saturday.
Chinese President Xi Jinping's written speech at the APEC CEO Summit in Lima, Peru on Friday, in which he called for jointly promoting a universally beneficial and inclusive economic globalization, boosted confidence and opened the door further for cooperation, Chinese and foreign business leaders said.
The construction of Chancay Port has created jobs for many construction workers and has improved their families' living standards. With the port serving as a demonstration, it is hoped that Peru and China can jointly build more projects and create more jobs for local people, Luis Villanueva, secretary general of the Federation of Workers in Civil Construction of Peru, told the Global Times.
China's Ministry of Commerce (MOFCOM), along with the Ministry of Industry and Information Technology, the General Administration of Customs, and the State Cryptography Administration, issued a list on Friday for export control of dual-use items, which will take effect on December 1, MOFCOM said.
China posted improving economic data for October as a series of existing and new support policies took effect. Chinese officials and analysts said that as more of these policies are implemented, economic recovery and growth will be further consolidated.
Since the resumption of bilateral relations three years ago, both sides have been working with a sense of urgency to promote the development of China-Nicaragua friendly relations. Key agreements have been reached, including the joint development of the Belt and Road Initiative (BRI) and a Free Trade Agreement (FTA) between China and Nicaragua, which came into effect in 2024, marking a landmark achievement in bilateral cooperation.
The 2024 International Low Altitude Economic Expo was successfully held in Zhuhai, South China's Guangdong Province from Sunday to Tuesday, attracting professional attendees from more than 20 countries and regions worldwide to witness the latest technological advancements and innovative applications in the low-altitude economy and unmanned systems.
Despite the EU's recent implementation of imposing high tariffs on Chinese electric vehicles (EVs), negotiations for alternative solutions continue, and both sides have shown an intention to manage their differences and avoid further escalation in trade tensions.
The 22nd Guangzhou International Automobile Exhibition officially kicked off on Friday, with many major global carmakers actively participating in and introducing new electric vehicle (NEV) models. This reflects their continued optimism about the vast potential of China's NEV market, even in the face of growing competition from domestic brands, analysts said.
China-proposed Belt and Road Initiative (BRI) has facilitated strategic investments in infrastructure and improved Peru's connectivity with international markets, especially with Asia, Luis Cabello, commercial counsellor, and representative of Promperú - Promotion Agency of Peru for Exports and Tourism, in Beijing, told the Global Times in an exclusive written interview on Friday.
Friday marks the 4th anniversary of the signing of the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade pact in terms of population and trade volume.
China will leverage the strengths of its vast domestic market, expand its opening-up efforts, improve the business environment, and share growth opportunities with global partners, including Australia, Chinese Commerce Minister Wang Wentao said via video at a China-Australia economic forum in Sydney on Friday, according to a notice on the website of the Ministry of Commerce (MOFCOM).
China's National Bureau of Statistics (NBS) said on Friday that property market expectations further improved in October, as home price decline in major 70 cities narrows on a monthly basis while some regions are reporting an increase in prices.
China posted improving economic data for October as a series of existing and new supportive policies took effect.
On Friday morning a freight train carrying a variety of goods left Southwest China's Chongqing Municipality for Duisburg, Germany, marking a major milestone as the total number of China-Europe freight train trips exceeded 100,000.
China's recent consumption market has shown vitality, with various exhibitions nationwide, steadily growing goods consumption, energetic services consumption and booming sales of new types of smart and green products, the Ministry of Commerce (MOFCOM) said on Thursday.
As China and Peru are set to deepen bilateral ties during upcoming high-level events, Peruvian officials and agricultural businesses are seeking to further expand agricultural cooperation with China, leveraging various joint efforts to boost trade.
To provide a more accurate analytical perspective on the currency, it is necessary to consider the fluctuations of the yuan against the US dollar, as well as against other major currencies. Despite uncertainties and shocks from market fluctuations, the yuan remains one of the most stable currencies globally.
German business representatives in China expressed the remaining continuing importance of the Chinese market for German companies and said they seek to strengthen cooperation in key areas including electric vehicles (EVs).
The number of Chinese tourists travelling to Latin American countries has steadily risen in recent years, making China one of the important source markets for Latin America, data from a number of travel platforms showed, a trend which industry insiders said is partly driven by the opening of more direct flights, closer economic ties as well as frequent cultural interactions between the two economies.
China's Ministry of Education (MOE) and Ministry of Human Resources and Social Security are ramping up efforts to support employment and entrepreneurship initiatives for college graduates, as the number is expected to reach 12.22 million this year, China Central Television reported on Thursday.
The Hangzhou Intermediate People's Court of East China's Zhejiang Province held a public trial in the first instance of the bribery case of Zhang Hongli, a former vice president of the Industrial and Commercial Bank of China (ICBC) on Thursday, as Zhang was charged with illegally accepting property of more than 177 million yuan ($24.44 million), CCTV reported.
In response to media reports that a drug gang looted more than three tons of gold from Zijin Mining Group in Colombia, South America, a representative from the Chinese mining giant acknowledged the existence of illegal mining activities, noting that estimating the scale of illegal mining remains challenging, according to domestic news outlet yicai.com.
The US' move to escalate its crackdown on China's semiconductor industry is a significant violation of international trade rules, a gross interference in free trade, severely damaging the interests of all parties and impeding global technological exchanges and economic and trade cooperation, China's Ministry of Commerce (MOFCOM) said on Thursday.
China-Latin America trade volume in the first three quarters of this year reached $427.4 billion, a 7.7 percent increase year-on-year, with the full-year total expected to exceed $500 billion, Chinese Foreign Ministry (FM) spokesperson Lin Jian said on Thursday.
China's largest and most intelligent offshore oilfield cluster, the Enping 15-1 oilfield group, has brought all 76 wells online, achieving a daily crude output of over 7,500 tons, setting a new record, CCTV News reported on Thursday.
China's annual output of new-energy vehicles (NEVs) surpassed 10 million units as of Thursday, making it the first country to achieve this milestone, CCTV News reported on Thursday.
A worker at a steel company in Lianyungang, East China's Jiangsu Province, is busy on the production line on November 13, 2024. Since the start of the fourth quarter, businesses across Lianyungang have entered a “sprint” mode, working at full capacity to ramp up production and fulfill orders as they push to finish off the year on a strong note. Photo: VCG
Five Chinese authorities including the top economic planner, the National Development and Reform Commission, on Wednesday released an opinion on deepening the integration of industry and education of the home service industry, with a major focus on promoting industrial upgrading and innovative advancements.
Three Chinese ministries rolled out a package of tax incentives to invigorate the real estate market on Wednesday, in what an analyst said would be a sizable boon to support the healthy development of the housing market.
It is essential for APEC to value the successful experiences of past regional economic integration and trade liberalization efforts. In light of current common challenges, if zero-sum thinking can be ruled out, there is potential to enhance the regional economic growth outlook through strengthened cooperation.
Workers load and transport abalone fry in a marine ranch in Rongcheng city, East China's Shandong Province on November 13, 2024. According to preliminary calculations, China's gross ocean product grew 5.4 percent year-on-year to 7.7 trillion yuan ($1.08 trillion) in the first three quarters of this year. Photo: VCG
The recent decline in international gold prices has captured the Chinese market's attention, prompting adjustments in the domestic gold accessories sector, where many well-known brands have been cutting prices.
The combined turnover of China's Shanghai and Shenzhen stock exchanges exceeded 2 trillion yuan ($276.96 billion) on Wednesday, marking the 31st consecutive trading day that the two bourses saw total turnover exceed 1 trillion yuan, according to market data.
Since the establishment of APEC, Asia-Pacific regional cooperation has accelerated the region's development and positioned the region as a center of global economic growth. Moreover, China has emerged as a pivotal force in promoting high-quality, sustainable regional and global development.
Several foreign aviation equipment companies have inked new contracts with Chinese airlines at the ongoing 15th China International Aerospace Expo in Zhuhai, South China's Guangdong Province, indicating that cooperation in the aviation supply chain between China and foreign countries will continue to strengthen.
China and Latin America have all along prioritized major livelihood projects in their cooperation and also implemented a good number of small and beautiful livelihood projects in Latin America, a spokesperson from the Chinese Foreign Ministry said on Wednesday, pledging ongoing commitment to focus on people's livelihood and deliver a stronger sense of fulfillment and happiness to the peoples of both sides.
It is precisely because Asia-Pacific countries have embraced peaceful development and rejected bloc confrontation and zero-sum games that the region has created the "Asia-Pacific miracle," serving as a global anchor for development and stability, a Chinese Foreign Ministry (FM) spokesperson said on Wednesday.
The initial power units of China's first 1-gigawatt offshore photovoltaic project have been connected to the State Grid, said the State Power Investment Corporation on Wednesday. This project marks a significant step forward, serving as a model for the global expansion of offshore solar energy.
China's trade with Asia-Pacific Economic Cooperation (APEC) economies reached a historic high, surpassing 21 trillion yuan ($2.91 trillion) in the first 10 months of 2024, underscoring their deepening economic integration and strong trade connections.
The Hong Kong Special Administrative Region (HKSAR), as an international financial hub, saw its licensed finance jobs hit a record in October. Experts noted on Tuesday that Hong Kong's financial sector is brimming with potential and is poised to capture growing attention from global investors.
As of October 31 this year, the number of artificial intelligence (AI) organizations in China had reached nearly 1.9 million, with more than 60,000 enterprises nationwide in the manufacturing sector having realized an AI transformation, the China Organization Data Service under the State Administration for Market Regulation said on Tuesday.
Air China said on Tuesday that it had signed a framework agreement with Shanghai-based Commercial Aircraft Corp of China (COMAC) for the C929 wide-body aircraft, and the carrier expects to be the first user of the aircraft in the world.
Now China has entered November. Noting that the year 2024 will end in less than two months, Chinese President Xi Jinping stressed the need to push forward with various work, especially the economic work, in an effective and solid manner, so as to deliver on the economic and social development goals for the whole year.
China Rural Revitalization magazine has published a series of articles on the rapid development and transformation of rural China. The articles reflect the arduous efforts of rural revitalization across the country, which is an important and genuine solution to China's rural economic development. In the future, articles selected from this series will be published.
China's homegrown civil airship, the AS700 "Xiangyun," received 10 new purchase orders on the opening day of the Airshow China 2024 in Zhuhai, South China's Guangdong Province, and the developer said the maiden commercial flight of the airship is set to begin soon.
Certain Western media outlets frequently hype the issue of "China's trade surplus," blaming China for "creating trade imbalances in global commerce" and sensationalizing trade war concerns. This perspective is misleading and serves as an excuse for implementing high protectionist tariffs and other unjustified trade barriers. It is these protectionist tariffs that pose a real threat to global trade.
In a significant development for China's stock market, more than 200 A-share companies had announced cash dividend plans for the third quarter as of Monday, as policies to support the healthy development of the capital market take effect.
While China and the EU have just concluded multiple rounds of intensive negotiations on a proposed price commitment plan concerning Chinese electric vehicles (EVs), certain Western media outlets have hyped in reports that “the EU sees very limited progress in negotiations with China,” and that “the bloc currently sees little prospect of a quick deal.”
The volume of frozen potato chip exports from Ulanqab in North China's Inner Mongolia Autonomous Region to neighboring Mongolia saw a significant rise in the first 10 months of 2024, as local foreign trade companies expressed optimism about growing bilateral business.
As China's ski season approaches, many places in the country's northern regions are launching ski tourism projects, with related products seeing a surge in pre-sales during the Double Eleven shopping festival on Chinese travel platforms.
Commercial Aircraft Corporation of China (COMAC), the producer of China's home-grown regional jetliner ARJ21, announced on Tuesday that the model has been renamed the C909.
China's General Administration of Customs reported on Tuesday that in the first 10 months of 2024, customs oversaw 6,525 China-Laos Railway runs and 1,700 China-Vietnam Railway runs, each showing substantial year-on-year growth, highlighting the expanded international rail transport capacity of the new western land-sea corridor.
Chinese e-commerce giants Tmall and JD.com reported very strong sales during the 2024 "Double 11" shopping festival, which came to a close on Monday, as China's consumer market continues to recover steadily.
How to view China's current economic landscape? Data from the first three quarters has garnered much public attention. Some see only the challenges. On a quarterly basis, the year-over-year growth rates of 5.3 percent, 4.7 percent, and 4.6 percent indicate a downward trend. In the third quarter particularly, key economic indicators slowed in July and August, sparking doubts about economic growth prospects and achieving annual targets.
The investment of Chinese EV makers in the African market is not a passive response to protectionist tariff barriers in Western countries as claimed by some Western media outlets; rather, it is a natural choice based on the increasingly close economic ties and cooperation trends among countries in the Global South.
The scale of China-focused exchange traded funds (ETFs) listed overseas has jumped significantly since October, a development that observers said reflected growing optimism among foreign investors on Chinese assets as their confidence in the outlook for the world's second-largest economy has been further boosted by a package of supportive measures to stabilize the growth momentum.
China's small and medium-sized enterprises (SMEs) maintained their recovery momentum in October amid strengthening policy support for the private economy and investment, data from an industry association showed on Monday.
In October, China's new-energy vehicle (NEV) sales reached 1.43 million units, up 49.6 percent year-on-year, setting a new one-month sales record. From January to October, cumulative sales hit 9.75 million, a 33.9 percent rise, according to data from the China Association of Automobile Manufacturers (CAAM) on Monday.
China's annual "Double 11" online shopping festival reached its peak on Monday night, as e-commerce platforms unleashed a flurry of discounts and red packets in a final push to boost sales.
Italy and China are complementary in many key industries, including renewable energy, electric vehicles (EVs) and digitalization, said Lorenzo Riccardi, chairman of the China-Italy Chamber of Commerce, in an exclusive interview with the Global Times on Monday.
Against the backdrop of global energy transformation, the aviation industry is accelerating decarbonization, and sustainable aviation fuel (SAF) has become a hot topic. Global Times has learned that many airlines have announced that they will use SAF to promote the goal of net zero emissions and have launched relevant layouts; some large oil companies have also begun to focus on related capacity construction.
CAS Space, Chinese commercial aerospace company, successfully sent 15 satellites into orbit with its solid rocket Kinetica-1, also known as Lijian-1, on Monday. The flight also deployed an intelligent remote sensing satellite for Omani client, marking the Chinese private rocket firm's first collaboration with international client.
In response to a Bloomberg's query about reports that several US House Republicans have been working on legislation that could potentially revoke China's permanent normal trade relations or PNTR status, Chinese Foreign Ministry spokesperson Lin Jian stated on Monday that some US politicians are attempting to turn back the wheel of history and pull the China-US trade and economic relations back to the Cold War era.
"Regarding the city, I'd love to have more time here, and I'll definitely make an effort to explore the country's manufacturing capital, with hopes of forging relationships for future business and collaboration," Aridaí Herrera, President of Pan American Federation of Engineering Societies, told the Global Times on Saturday.
China's Ministry of Commerce (MOFCOM) announced Monday that Chinese investigating agencies decided to imposing temporary anti-dumping measures against brandy imported from the European Union (EU), according to a supplementary notice released on Monday.
Since a series of economic stimulus policies began taking effect in late September, this year's “Silver October” real estate transactions outpaced those of “Golden September” – the first time this has happened since 2007.
A new Chinese railway sleeper factory opened in Tindouf, western Algeria, on Sunday, marking the official launch of CRCC's Western Algeria Railway Mining Line project.
Construction began on Monday for a 48.73-kilometer-long maglev rail line connecting Changsha and Liuyang cities in Hunan Province, marking China's first trans-city maglev express rail transportation.
In the first three quarters of 2024, China's major policies supporting scientific and technological innovation and the development of the manufacturing sector reduced taxes and fees, yielding refunds of 2.087 trillion yuan ($289.73 billion), the Xinhua News Agency reported, citing data released by the State Taxation Administration.
The final tranche of treasury savings bonds (electronic) this year began to be issued on Sunday and the issuance will end on November 19, according to a statement on the website of China's Ministry of Finance (MOF). Two types of savings bonds will be issued in this new round, with the interest rate on both the three- and five-year bonds at near 2 percent, marking the fourth time that the rate has been reduced this year.
The remarks made by the EU ambassador to China regarding trade dispute and market access issues reflect certain complexities and challenges in the China-EU economic and trade relationship. However, it is important to note that China's pace of opening-up will not be halted by external pressure or doubts.
For Australian companies, the China International Import Expo (CIIE) is an important opportunity to engage with customers in Australia's largest export market - China, said Vaughn Barber, China-Australia Chamber of Commerce (AustCham China) chair, in an interview with the Global Times, during the CIIE in Shanghai, which is in its seventh session this year.
Air China's domestically produced C919 aircraft, adorned with the national flag, has made its debut in Macao Special Administrative Region.
The China International Import Expo (CIIE), the world's first national-level exposition dedicated to imports, concluded its 7th edition on Sunday, drawing worldwide attention, and with this year's cumulative intended transaction value reaching $80.01 billion, a new record has been set since its launch in 2018.
An unassuming plant in Northeast China's Changchun produces a top-quality new material that is widely used in today's high-tech industries. The German investor noted that this is Chinese technology created in China for the world. Success stems from China's robust industrial supply chain, entrepreneurial vigor of its Chinese partners and the favorable conditions unique to China.
"Exhibits become commodities" and "commodities become explosions" are among the main functions of the China International Import Expo (CIIE). During the 7th CIIE, held in Shanghai, the expo has become a strong bridge helping a number of international goods enter the vast Chinese market.
The 2024 International Engineering Congress (IEC) in Taizhou, Zhejiang Province, East China, concluded on Sunday. At the event, engineering sector leaders expressed strong appreciation for China's support and anticipated increasing cooperation with China across the engineering sector.