Economy
China announced on Monday the extension of the visa-free policy for Australian passport holders to China from the original 15 days to 30 days, a move that a Chinese expert said is another reflection of the active role China has played in promoting mutual understanding and people-to-people exchanges between the two sides.
By Yin Yeping | 2024/11/26 0:36:17
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  • China's provisional anti-dumping measures against EU's brandy legitimate, in line with WTO rules: MOFCOM official

    China's temporary anti-dumping measures on certain brandy imports originating from the EU are legitimate trade remedies fully in line with World Trade Organization (WTO) rules, said an official with China's Ministry of Commerce (MOFCOM) on Monday.

    By Yin Yeping and Zhang Weilan | 2024/11/26 0:30:43
  • China to safeguard firms' interests against US planned new chip curbs

    China's Foreign Ministry on Monday slammed the US' planned new restrictions on chip exports to China, which are reported to be unveiled as early as this week, and vowed to take resolute measures to firmly defend the legitimate and lawful rights and interests of Chinese companies.

    By Wang Cong and Qi Xijia | 2024/11/26 0:26:49
  • China welcomes Nvidia's continued investment in its market, amid senior executive's visit

    Chinese Vice Commerce Minister Wang Shouwen said on Monday that China supports efforts by US chip maker Nvidia to continue to take root in China, and pledged to create a more favorable environment for foreign companies. "A more open China will provide foreign-invested enterprises with broader development opportunities," Wang said.

    By Global Times | 2024/11/26 0:23:18
  • Western relocation industry schemes clash with economic principles, stifling growth

    For some Western powers, critical minerals have turned into a strategic battleground. In response, these nations are forming alliances centered around these minerals, pressuring their allies to join exclusive blocs. This emerging trend threatens to disrupt global supply chains and poses a significant challenge to globalization.

    By Hu Weijia | 2024/11/25 23:28:35
  • China launches first large-scale production line for civil aviation tires

    China's first large-scale production line for civil aviation tires has been completed and put into operation in Guilin, South China's Guangxi Zhuang Autonomous Region, the Xinhua News Agency reported on Monday.

    By Global Times | 2024/11/25 23:25:39
  • Foreign companies attend 2nd supply chain expo in record numbers

    China will continue to take concrete actions to ensure stable and unimpeded global industrial and supply chains, Chinese Premier Li Qiang said Monday while attending a symposium with representatives of enterprises and organizations participating in the upcoming second China International Supply Chain Expo (CISCE).

    By GT staff reporters | 2024/11/25 23:18:41
  • Detailed plan issued on building bulk commodity resource allocation hub in China (Zhejiang) Pilot FTZ

    China's Ministry of Commerce (MOFCOM), along with Zhejiang provincial government, issued a detailed plan on Monday on building a bulk commodity resource allocation hub in China (Zhejiang) Pilot Free Trade Zone (FTZ). Chinese officials and observers said the plan marks the first-of-its-kind in the construction of a bulk commodity resource allocation hub in an FTZ, and it carries great significance in the country's further institutional opening-up.

    By Li Xuanmin | 2024/11/25 23:13:18
  • China prepares for year-end shopping rush with fresh round of consumer vouchers

    As the year-end shopping season approaches, cities in China have rolled out new rounds of consumption vouchers tailored to local needs, regional characteristics and consumer preferences, to boost market activity and support the recovery of consumption.

    By Song Lin | 2024/11/25 22:56:35
  • China, Singapore pledge to deepen cooperation on industrial park

    Chinese Vice Premier He Lifeng met with Senior Minister of Singapore Lee Hsien Loong on Monday in Suzhou, east China's Jiangsu Province.

    By Xinhua | 2024/11/25 20:37:33
  • Tesla lowers price for Model Y in China by $1380, aiming to secure more market share: expert

    Tesla announced a final payment reduction of 10,000 yuan ($1380) for the Model Y Rear-Wheel Drive and Long-Range All-Wheel Drive from Monday to December 31, as well as offering a five-year zero interest financing deal with a down payment starting at 79,900 yuan.

    By Global Times | 2024/11/25 19:50:02
  • Chinese foreign ministry slams US' planned chip restrictions, vows to firmly safeguard rights, interests

    A spokesperson from China's Foreign Ministry (FM) said on Monday that China has always resolutely opposed the US' overstretching of the concept of national security, abuse of export control measures, and malicious blockade and crackdown on China.

    By Global Times | 2024/11/25 17:38:38
  • China conducts 900-billion-yuan MLF operation to sustain banking liquidity

    China's central bank on Monday conducted a 900-billion-yuan (about 125.14 billion US dollars) medium-term lending facility (MLF) operation to maintain reasonable and ample liquidity in the country's banking system.

    By Xinhua | 2024/11/25 16:46:24
  • South Korea needs to do away with bottlenecks to strengthen SMEs

    Amid the rapid evolution in the global digital landscape and its associated industrial and supply chains, South Korea, an export-oriented economy, is increasingly supporting SMEs to drive growth, create jobs, and foster innovation. The country has stepped up efforts to activate the vitality of SMEs, integrating competitive industries, reforming institutions, supporting growth, and cultivating leading enterprises.

    By Da Zhigang | 2024/11/25 16:41:33
  • US ban on 29 more Chinese entities over alleged 'forced labor' in China's Xinjiang harms interests of American firms, customers: experts

    Experts noted that the primary objective of this measure is to curb the development of Chinese enterprises, destabilize Xinjiang region and contain China's development under the guise of human rights, while ultimately harming US businesses and consumers.

    By Global Times | 2024/11/25 12:30:01
  • Apple CEO Cook visits 2nd China International Supply Chain Expo, says Apple values Chinese partners 'very highly'

    Apple CEO Tim Cook is on his third business trip to China this year, as he toured the site of the 2nd China International Supply Chain Expo on Monday, according to a video clip of Yuyuan Tantian, a social media account affiliated with state broadcaster CCTV.

    By Global Times | 2024/11/25 12:02:40
  • Media hype over 'reducing reliance' undermines development of Europe's EV industry

    Northvolt, the Swedish manufacturer of battery cells for electric vehicles (EVs), has filed for Chapter 11 bankruptcy protection in the US, according to Reuters. The report highlights the swift downfall of Northvolt, which, in a matter of months, went from being hailed as Europe's best shot at a homegrown EV battery champion to a company struggling to stay afloat.

    By Hu Weijia | 2024/11/24 23:35:50
  • GT Voice: Globalization logic behind CISCE's championing of supply chain stability

    Themed "Connecting the World for a Shared Future," the second China International Supply Chain Expo (CISCE) is scheduled to take place in Beijing from Tuesday to Saturday.

    By Global Times | 2024/11/24 23:31:39
  • A-Share market capitalization gains 17 trillion yuan

    Major indicators of China's stock market have hit record highs, with total A-share market capitalization gaining 17 trillion yuan ($2.35 trillion) and reaching the highest level in nine years, as the latest round of the stock market rally enters its third month on Monday.

    By Global Times | 2024/11/24 23:23:41
  • China ramps up energy supply efforts as winter cold spell looms

    China's National Meteorological Center (NMC) issued a blue alert on Sunday for a cold spell as the season's first chill sets in. Across the country, regions have already launched measures to stabilize energy supply, ensuring steady production of coal, natural gas, and other resources to guarantee winter heating.

    By Song Lin | 2024/11/24 23:21:18
  • Chinese firms gear up for Black Friday sales

    Chinese enterprises, from e-commerce platforms, and logistics companies to live-streaming agencies, are gearing up for the holiday shopping sprees, including stepped-up marketing deployment such as focusing on livestreaming as well as beefing up production and logistics efficiency, as this year's Black Friday sales kick off.

    By GT staff reporters | 2024/11/24 23:20:33
  • Chinese local governments fast-track debt replacement

    In a significant move to address existing hidden debts, local governments across China have taken swift action to implement debt replacement after the approval of a 6-trillion yuan ($840 billion) new local government debt quota for replacing the hidden debts.

    By Qi Xijia | 2024/11/24 23:18:28
  • US, Canada's pressure on Mexico over China trade is protectionist in nature: expert

    The president of Mexico said on Friday local time that Chinese products are not entering the US and Canada through Mexico, and the Mexican government will make that clear in upcoming trade meetings, according to Reuters.

    By Chu Daye and Ni Hao | 2024/11/24 22:44:20
  • China to launch first Fuxing EMU train to connect southern and eastern Xinjiang

    The Fuxing power-concentrated (electric multiple unit) EMU passenger train will be launched between Korla City and Hami City in Northwest China's Xinjiang Uygur Autonomous Region on November 29, with tickets available online starting November 22. It will be the first Fuxing service connecting southern and eastern Xinjiang, according to China Media Group (CMG).

    By Zhang Yiyi | 2024/11/24 22:25:14
  • China, EU reportedly nearing a solution over Chinese EV tariffs

    China and the EU are reportedly nearing a solution over eliminating tariffs on Chinese electric vehicle (EV) imports into the bloc, German broadcaster n-tv reported on Friday, citing Bernd Lange, chair of the trade committee of the European Parliament.

    By Yin Yeping, Zhang Yiyi and Ding Yazhi | 2024/11/24 21:42:00
  • Industry watch at Wuzhen Summit: Chinese AI companies are riding the wave of global expansion

    China's artificial intelligence (AI) industry is experiencing rapid global growth, with both established tech giants and unicorn startups shifting their focus to international markets. Leading Chinese tech companies including ByteDance, Baidu, Tencent and emerging unicorns such as Shanghai-based MiniMax, Beijing-based Moonshot and 01.AI are grabbing the opportunities by going global, seeking to leverage their strengths in technology and innovation.

    By Zhang Weilan in Wuzhen | 2024/11/23 14:49:05
  • Playing in snow

    A robotic dog pulls a child on a sleigh at the Lianhuashan ski resort in Changchun, Northeast China's Jilin Province, on November 22, 2024, the opening day of the ski resort this winter. In addition to interacting with tourists, the newly launched six new robotic dogs are also able to engage in multiple service tasks such as cargo transportation, emergency aid and security patrols. Photo: VCG

    By Global Times | 2024/11/23 0:21:54
  • China offers fruitful benefits, not empty rhetoric: Brazilian scholar

    Currently, the interconnectivity and infrastructure among South American countries remain underdeveloped. Flying from Colombia to Florida is often cheaper than to neighboring Brazil. This highlights significant logistical challenges that impede regional travel and trade. Improved infrastructure would enable more efficient connectivity and strengthen economic ties within the continent.

    By J. Renato Peneluppi Jr. | 2024/11/23 0:19:48
  • China-Latin America ties thrive despite external pressures: Brazilian expert

    China and Brazil signed a series of cooperation agreements last year in areas such as poverty reduction, digital economy, and telecommunications, showcasing common pursuit to create new growth drivers and promote high-quality cooperation to benefit their people and reflecting the win-win cooperation trend between China and Latin America. Global Times reporter Ma Tong (GT) conducted an inclusive interview with Marcos Cordeiro Pires (Pires), a professor at the Department of Political and Economic Sciences, São Paulo State University in Brazil to discuss the thriving economic and trade ties between China, Brazil, and the entire Latin American region.

    By Global Times | 2024/11/23 0:16:12
  • From Peru to Brazil, Belt and Road cooperation now reaches new milestones

    Whether because of the language barrier or limited local news coverage, people in Lima, capital of Peru, and Rio de Janeiro in Brazil, appear to be unfamiliar with the Belt and Road Initiative (BRI), unlike many places in Asia and Africa, where mention of the BRI often prompts locals to raise their thumbs.

    By Wang Cong in Rio de Janeiro | 2024/11/23 0:07:11
  • China to boost cross-border e-commerce to fuel industrial chains: MOFCOM

    Cross-border e-commerce is an effective force in international trade, and so is cross-border e-commerce in China, China International Trade Representative and Vice Minister of Commerce Wang Shouwen said on Friday at a press conference introducing measures to support foreign trade.

    By Chi Jingyi | 2024/11/23 0:01:01
  • China to push ahead with 5G-A development, 6G technological research

    China will step up efforts to upgrade its traditional network infrastructure, boost the development of 5G toward 5G Advanced, or 5G-A, and comprehensively propel 6G technological research and innovations, the National Data Administration said on Friday.

    By Ma Jingjing | 2024/11/22 23:58:07
  • China vows to promote steady growth of foreign trade

    Officials from five Chinese departments including the Ministry of Commerce (MOFCOM), the Ministry of Foreign Affairs and the People's Bank of China vowed to promote the steady growth of foreign trade at a press conference held on Friday in a move experts said is part of a package of policy measures to inject impetus and confidence into stabilizing the economy and help realize its annual economic targets.

    By Liu Yang | 2024/11/22 23:42:38
  • China extends unilateral visa-free policy to nine more countries including Japan, bringing total to 38

    China's Foreign Ministry said on Friday to extend visa-free policy to nine more countries. Between November 30, 2024 and December 31, 2025, the visa exemption policy will be implemented for ordinary passport holders from Bulgaria, Romania, Croatia, Montenegro, North Macedonia, Malta, Estonia, Latvia and Japan on a trial basis, Lin Jian, spokesperson for the Ministry of Foreign Affairs, said during a regular press conference.

    By Chi Jingyi | 2024/11/22 16:29:06
  • China resilient against external shocks, vice commerce minister says amid US 60% potential tariff threat

    China's economy has demonstrated strong resilience, great potential and vitality, and the country is capable of resisting the impact of external shocks. Tariffs will only lead to high costs for consumers, and a stable, healthy and sustainable development of China-US economic and trade relations will benefit peoples of both countries and the world, Chinese Vice Commerce Minister Wang Shouwen said on Friday.

    By Global Times | 2024/11/22 12:24:07
  • Taiwan youth eager to explore mainland opportunities

    "If you aspire to personal growth and seek a broader world in the future, remember to step beyond your own small space so as to venture outside your comfort zone. Don't hesitate to come to the mainland to take a look," Ji Tianyu, a Taiwan youth and crosstalk performer, said to the Global Times, with a confident smile on her face.

    By Zhang Weilan and Chen Zishuai in Wuzhen | 2024/11/22 0:36:51
  • Trade protectionism is not the solution to revitalizing US manufacturing

    The US views manufacturing as a crucial driver of economic growth and innovation. Over the past decade, the federal government has implemented various plans and strategies aimed at supporting the sector's development. However, one key factor essential to revitalizing the US manufacturing industry - industrial automation - seems to have been overlooked.

    By Hu Weijia | 2024/11/21 23:26:49
  • Chinese, European firms step up semiconductor cooperation: report

    European computer chipmaker STMicroelectronics said on Wednesday that it is working with Hua Hong Semiconductor, China's second-largest bespoke chip maker, to manufacture microcontroller chips at the 40-nanometer node in Shenzhen, South China's Guangdong Province by the end of 2025, Reuters reported.

    By GT staff reporters | 2024/11/21 23:16:40
  • Chinese NEVs gain popularity in Brazil, Latin America

    In Rio de Janeiro, Brazil's second-largest city, fossil-fuel cars from US, Japanese and South Korean automakers still dominate the streets. However, a closer look reveals a shifting trend: despite very limited numbers, there are plenty of sightings of Chinese new-energy vehicles (NEVs).

    By Wang Cong in Rio de Janeiro | 2024/11/21 23:12:32
  • Apple sees double-digit y-o-y decline in iPhone sales during China's 'Double 11'shopping festival, models retain top spot: report

    Apple experienced a double-digit year-on-year decline in iPhone sales during China's recently concluded "Double 11" online shopping festival, but its iPhone 16 Pro and iPhone 16 Pro Max were still the best-selling models, according to an industry report released on Wednesday.

    By Song Lin | 2024/11/21 23:12:08
  • China's commerce ministry rolls out measures to support foreign trade

    China's Ministry of Commerce (MOFCOM) on Thursday released a broader set of initiatives to support the stable growth of foreign trade in a bid to consolidate and strengthen the momentum of economic growth.

    By GT staff reporters | 2024/11/21 23:11:58
  • China will accelerate negotiations with DEPA members to strive for achievements at early date: MOFCOM

    A ministerial meeting between China and members of the Digital Economy Partnership Agreement (DEPA) was held on November 14 during the APEC Ministerial Meeting, and parties concerned exchanged views on the progress of negotiations and next-phase work, He Yongqian, spokesperson for China's Ministry of Commerce (MOFCOM), said at a regular press conference on Thursday.

    By Global Times | 2024/11/21 21:01:13
  • China to plan car trade-in follow-up policy in 2025 in advance to stabilize market expectations: Commerce Ministry

    China's Ministry of Commerce (MOFCOM)will plan the car trade-in follow-up policy in 2025 in advance, while scientifically evaluating relevant policy achievements this year in a bid to stabilize market expectations to facilitate used vehicle transactions, Song Yingjie, an official with the MOFCOM department for consumption promotion, said on Thursday.

    By Ma Jingjing | 2024/11/21 19:05:08
  • China ranks 2nd in global internet development, building edge in AI-innovation potential and market applications: blue book

    China ranks the second in the world on the Global Internet Development Index, said the Blue book for the World Internet Conference released on Thursday.

    By Zhang Weilan and Chen Zishuai in Wuzhen | 2024/11/21 16:33:26
  • Oversubscription of $2 billion bonds in Saudi Arabia reflects appeal of Chinese economy

    The successful issuance and oversubscription of the bonds not only demonstrate the openness and vitality of China's financial sector but also reflect the strong appeal of the Chinese economy and the international investors' positive outlook on China.

    By Wang Yi | 2024/11/21 14:26:27
  • Chinese airlines gear up for rise in LAC imports

    Chinese cargo airlines are gearing up for more imports from Latin America and Caribbean (LAC) countries, as mutual benefits and win-win results are regarded as the overarching principles for the development of relations between China and the region, underlying the highly complementary nature of the economies of both sides.

    By Tu Lei | 2024/11/21 0:26:29
  • Trains using New Intl Land-Sea Trade Corridor carry over 800,000 TEUs

    China's rail-sea intermodal trains operating through the New International Land-Sea Trade Corridor, located in China's western hinterland, have transported 805,400 20-foot equivalent units (TEUs) of goods so far this year, up 5.3 percent year-on-year, providing a solid foundation for the stability of regional industrial chains and high-quality development of the western regions, CCTV reported on Wednesday, citing data from China Railway Nanning Group.

    By Global Times | 2024/11/21 0:17:25
  • Revoking China's PNTR will harm US economy, global supply chain: observers

    After repeated hype by certain US politicians, a US Congressional anti-China advisory panel called for ending the country's Permanent Normal Trade Relations (PNTR) with China. Chinese observers argue that this move stems from a Cold War mentality with little regard for the serious impact the move could have on the American economy and even the global supply chain.

    By GT staff reporters | 2024/11/21 0:13:22
  • Former official of China's securities regulator found to have accepted cryptocurrency bribes

    Yao Qian, former director of the Department of Technology Supervision and former head of the IT Service Center at the China Securities Regulatory Commission (CSRC), has been discovered to have accepted cryptocurrency bribes, an official statement showed on Wednesday.

    By Global Times | 2024/11/21 0:06:28
  • Foreign institutions stay positive on China's capital market, seeing investment opportunities in medium and long term

    Foreign institutions have continued to look positively on the Chinese capital market. Goldman Sachs was among the latest to express optimism on Chinese shares by continuing to recommend a "high allocation" to the A-share market.

    By GT staff reporters | 2024/11/20 23:11:03
  • Innovative, safe and inclusive growth in cyberspace urged as WIC opens

    President Xi Jinping extended congratulations via video to the 2024 World Internet Conference (WIC) Wuzhen Summit, which opened in Wuzhen, East China's Zhejiang Province, on Wednesday.

    By Zhang Weilan and Chen Zishuai in Wuzhen and Ma Jingjing in Beijing | 2024/11/20 23:08:27
  • Major Chinese cities ease housing policies as government support takes effect

    Major Chinese cities including Shenzhen, Shanghai, and Beijing have further relaxed their real estate policies, with Shenzhen in South China's Guangdong Province becoming the latest first-tier city to reduce taxes for transactions involving larger houses.

    By Global Times | 2024/11/20 23:07:06
  • Canada's concerns about Mexico's trade with China stem from protectionism, bias

    Canada, following the lead of the US, said in August it would impose a 100 percent tariff on imports of Chinese electric vehicles (EVs). Mexico does not have a similar tariff. It should be noted that the ongoing pragmatic economic and trade cooperation between China and Mexico is a normal commercial activity conducted by enterprises from both countries, based on international rules and market principles, and no third party has the right to interfere.

    By Hu Weijia | 2024/11/20 22:34:15
  • Global Cross-Border Data Flow Cooperation Initiative showcases China's firm resolve to improve digital governance: FM spokesperson

    China's Global Cross-Border Data Flow Cooperation Initiative outlines the core message of President Xi Jinping's philosophy of building a community with a shared future in cyberspace and demonstrates China's firm resolve to coordinate development and security, improve digital governance, and practice multilateralism, a Foreign Ministry spokesperson said on Wednesday.

    By Global Times | 2024/11/20 19:42:58
  • China is demonstrating support for shared prosperity and sustainable development for the world economy: Jeffrey Sachs

    The key issue of development is to boost critical investments in the low-income countries and lower-middle-income countries. China is demonstrating its support for shared prosperity and sustainable development. The win-win strategy for China and the partner countries is very important for the vital green transformation of the world economy.

    By Global Times | 2024/11/20 17:25:47
  • Gongbei Port in Guangdong Province launches 'card-free' customs clearance channel to boost GBA integration

    At midnight on Wednesday, Zhuhai's Gongbei Port in South China's Guangdong Province launched a pilot “card-free” customs channel, making it one of China's first ports to adopt the new system, according to CCTV News.

    By Global Times | 2024/11/20 12:35:43
  • Shenzhen moves to slash taxes on larger home transactions, following Beijing and Shanghai

    Shenzhen city in South China's Guangdong Province announced on Tuesday that it will eliminate the distinction between ordinary and non-ordinary housing to ease the tax burden on larger home transactions.

    By Global Times | 2024/11/20 11:22:29
  • Cooperation, not trade protectionism, key to revitalizing US manufacturing

    In recent years, Washington has pushed for re-industrialization, even implementing trade protectionist measures in an attempt to bring manufacturing back to the US. Yet, the overall results have been disappointing. Frankly speaking, many long-standing challenges facing US manufacturing remain unresolved.

    By Hu Weijia | 2024/11/19 23:01:57
  • China reaffirms commitment to achieving 2024 goals

    With 2024 nearing an end amid the complex and evolving domestic and global economic landscape, the National Development and Reform Commission (NDRC), the country's top economic planner, on Tuesday reaffirmed its commitment to achieve the year's economic growth goal of about 5 percent.

    By Song Lin and Chen Qingrui | 2024/11/19 22:06:51
  • Another 400 5G factories for 2024 to be released: MIIT official

    A second batch of 400 high-level 5G factories for the year 2024 will be released, aiming to promote the development of 5G+ industrial internet in key industries such as steel, equipment, electronics, mining and ports, Zhang Yunming, a vice minister of the Ministry of Industry and Information Technology (MIIT), said on Tuesday.

    By Chi Jingyi | 2024/11/19 21:57:33
  • CSRC imposes fines of $1.52b for financial frauds from Jan-Oct, exceeding 2023's total number: official

    In the first 10 months of 2024, the China Securities Regulatory Commission (CSRC) handled 658 cases related to financial frauds of listed companies with fines totaling 11 billion yuan ($1.52 billion), exceeding last year's total number, Wu Qing, chairman of the CSRC, said at the Global Financial Leaders' Investment Summit being held in Hong Kong.

    By Global Times | 2024/11/19 21:49:17
  • Long-haul train runs ensure efficient trade between Chinese manufacturers and European households

    On Tuesday, a China-Europe freight train carrying daily goods, electronics and machinery equipment departed from Jiangxi Province's Ganzhou International Inland Port, in East China, marking the 2,000th trip of its kind. The train passes through Erenhot Port in North China's Inner Mongolia Autonomous Region, reaching its European destination in about 15 days.

    By Zhang Yiyi in Ganzhou | 2024/11/19 21:34:05
  • China urges developed nations to fund developing countries for just transition: FM spokesperson

    China called on developed countries to see squarely their historic responsibilities and provide sufficient, predictable, and sustainable financial support for developing countries to help them realize just transition, a spokesperson from the Chinese Foreign Ministry said on Tuesday.

    By Global Times | 2024/11/19 18:28:20
  • China's financial sector to open wider: official

    China's financial sector will continue to open wider and the country is committed to creating a market-oriented, law-based and international business environment to support foreign institutions to participate more comprehensively and deeply in the Chinese financial market, Chinese senior officials said on Tuesday at the ongoing 2024 Global Financial Leaders' Investment Summit held in Hong Kong Special Administrative Region (HKSAR).

    By Li Xuanmin | 2024/11/19 16:20:10
  • China trims US Treasury holdings for 3rd month

    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.

    By Ma Jingjing | 2024/11/19 12:00:33
  • China's policy package expected to help drive 'V-shaped' recovery in Q4; annual targets expected to be met: economist

    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.

    By Song Lin and Ni Hao | 2024/11/19 0:09:52
  • Popularity of made-in-China goods shows protectionism would hurt Western shoppers

    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.

    By Hu Weijia | 2024/11/18 23:47:34
  • Youth unemployment rate hits 3-month low in Oct, hinting at recovery

    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.

    By Chen Qingrui | 2024/11/18 20:49:27
  • From laboratory to market, China's BCI technology at a critical stage of transitioning

    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.

    By Zhang Weilan in Wuhan | 2024/11/18 20:48:11
  • China to roll out pragmatic measures attracting foreign investment: CSRC

    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.

    By Xiong Xinyi and Ma Jingjing | 2024/11/18 20:33:47
  • China's BYD becomes first automaker in the world to deliver 10 million NEVs

    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.

    By Global Times | 2024/11/18 16:50:08
  • Shanghai scraps residential housing distinction, easing transaction burdens to boost home sales

    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.

    By Song Lin | 2024/11/18 14:33:24
  • China's annual parcel volume hits new record high of 150b year-to-date, reflecting vigor and vitality of nation's consumer market

    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.

    By Ma Jingjing | 2024/11/18 11:49:16
  • Construction of China-Russia east-route natural gas pipeline complete, to shore up energy supply in East China

    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.

    By Ma Tong | 2024/11/18 11:36:55
  • Yiwu-Madrid freight train service marks 10th anniversary, strengthening trade connectivity between China, Europe

    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.

    By Zhang Yiyi in Yiwu | 2024/11/18 11:22:05
  • Groundless 'EV graveyard' hype smears orderly devt of sector in China

    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.

    By Wang Yi | 2024/11/17 23:25:25
  • COP29 showcases China's progress in green transition

    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.

    By Zhang Han and Shen Sheng | 2024/11/17 23:13:19
  • Robust trade between China, Brazil promotes mutually beneficial ties

    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.

    By Chu Daye | 2024/11/17 23:09:19
  • China-Latin America cooperation in new energy holds great potential: business leaders

    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.

    By Wang Cong in Lima | 2024/11/17 23:02:23
  • 'Mutual access' enhances Hong Kong's attractive role on global stage: Paul Chan Mo-po

    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.

    By Song Lin | 2024/11/17 21:56:53
  • NE China's Heilongjiang taps seeds breeding to ensure field output

    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.

    By Chu Daye and Tao Mingyang in Heihe and Fuyuan | 2024/11/17 19:17:25
  • Brazil eyes for increasing tourism cooperation with China: travel bureau head

    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.

    By Li Xuanmin and Zhang Yiyi | 2024/11/17 12:40:05
  • China, Brazil trade grows nearly 10% in the first 10 months of 2024, underpinning mutual beneficial partnership

    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.

    By Global Times | 2024/11/17 12:26:17
  • China, Canada trade officials conduct pragmatic, candid talks in Lima

    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.

    By Ma Jingjing | 2024/11/17 11:04:48
  • China and EU reach 'technical consensus' in recent EV talks: media report

    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.

    By Global Times | 2024/11/16 19:10:02
  • President Xi's written speech at APEC CEO Summit boosts confidence of business leaders

    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.

    By Wang Cong in Lima | 2024/11/16 13:35:44
  • Chancay Port has created jobs for local workers; more jointly-built projects between China and Peru anticipated: Peruvian representative of construction workers

    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.

    By Bai Yunyi and Ma Jingjing | 2024/11/16 1:01:45
  • China issues list for export control of dual-use items, showing prudent approach: MOFCOM

    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.

    By Chu Daye and Qi Xijia | 2024/11/16 0:43:21
  • China sees economic boost as support policies take effect

    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.

    By Chu Daye | 2024/11/16 0:38:02
  • Changes brought by BRI to Central America strategically important: presidential advisor

    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.

    By YIn Yeping | 2024/11/15 23:23:40
  • Nation's low-altitude industry development shifts into high gear

    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.

    By Pan Helin | 2024/11/15 23:07:23
  • Managing differences over EVs right way to navigate trade issues

    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.

    By Jian Junbo | 2024/11/15 23:04:25
  • Foreign automakers showcase new EV products at Guangzhou auto show, bullish on China's market opportunities

    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.

    By Global Times | 2024/11/15 19:26:39
  • China-proposed BRI improves Peru's connectivity with intl markets, with devt of Chancay Port a highlight: Peruvian official

    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.

    By Yin Yeping | 2024/11/15 18:41:17
  • China actively promotes RCEP high-quality economic development as the pact celebrates 4th anniversary

    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.

    By Global Times | 2024/11/15 18:14:02
  • China ready to share development opportunities with the world, including Australia: MOFCOM Minister

    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).

    By Global Times | 2024/11/15 14:19:28
  • China's property market expectations further improve as home price decline narrows: NBS

    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.

    By Qi Xijia | 2024/11/15 11:58:11
  • China sees economic boost in October as supportive policies take effect

    China posted improving economic data for October as a series of existing and new supportive policies took effect.

    By Global Times | 2024/11/15 11:46:28
  • China-Europe freight train trips hit 100,000, boosting cross-border connectivity and efficiency

    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.

    By Zhang Yiyi in Chongqing | 2024/11/15 10:30:42
  • Consumption expected to maintain upturn amid current vitality: MOFCOM

    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.

    By Global Times | 2024/11/15 0:22:52
  • GT on the Spot: Exporting to China makes more money, says vendor at a market in Lima, amid growing agricultural trade

    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.

    By Wang Cong, Tang Ya and Yun Tianhua in Lima | 2024/11/15 0:14:42
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