Global-China Information Service

Abstract : China remains attractive to foreign companies, as an overwhelming majority of them questioned in a survey have expressed a desire to continue to invest and operate in the country, a commerce official said on Thursday. BEIJING, July 30 (Xinhua) — China remains attractive to foreign companies, as an overwhelming majority of them questioned in a survey have expressed a desire to continue to invest and operate in the country, a commerce official said on Thursday. Some 99.1 percent of respondents in a recent survey, conducted by the Ministry of Commerce (MOC), said their companies’ operations in the world’s second-largest economy will continue, MOC spokesperson Gao Feng told a regular press briefing. Despite the COVID-19 epidemic, China’s business environment has further improved this year with the implementation of foreign investment law and the unveiling of a much shorter negative list, Gao said, adding that the country has also helped foreign-funded companies solve pro...

Abstract : The China-Central Asia Gas Pipeline has delivered over 19 billion cubic meters of natural gas to China in the first half of this year, the PetroChina West Pipeline Company said Thursday. URUMQI, July 30 (Xinhua) — The China-Central Asia Gas Pipeline has delivered over 19 billion cubic meters of natural gas to China in the first half of this year, the PetroChina West Pipeline Company said Thursday. The pipeline runs from the border between Turkmenistan and Uzbekistan, passes through Uzbekistan and Kazakhstan and links up with China’s West-to-East Gas Pipeline in Khorgos of Xinjiang Uygur Autonomous Region. With a total length of 1,833 km and a designed annual gas transmission capacity of 60 billion cubic meters per year, the pipeline has been in operation for 10 years. It had delivered a total of 316 billion cubic meters of natural gas to China by the end of June, benefiting over 500 million people in China, including residents in the Hong Kong Special Administrative Reg...

Abstract : With the global pandemic still unfolding, it remains uncertain how its final impact will be on the world economy. But for China, there is little doubt about how to respond to the forthcoming challenges. BEIJING, July 30 (Xinhua) — With the global pandemic still unfolding, it remains uncertain how its final impact will be on the world economy. But for China, there is little doubt about how to respond to the forthcoming challenges. Just like it has worked on China’s past economic miracles, reform will continue to be the country’s firm answer to a world of change and the key to post-epidemic growth, according to repeated calls from the country’s leadership. China will rely on reforms to tackle changing situations and open up new prospects, while encouraging exploration in key spheres, according to a recent meeting of the central committee for deepening overall reform. A symposium with entrepreneurs last week stressed the need to foster new advantages for future development...

Abstract : China is ready to forge greater synergy between its new infrastructure initiative and "Fast Italy" to unlock more cooperation potential in digital technologies, ICT, infrastructure, port construction and third-market cooperation. Chinese State Councilor and Foreign Minister Wang Yi holds talks with Italian Minister of Foreign Affairs Luigi Di Maio via video link on July 29, 2020. (Xinhua/Xie Huanchi) BEIJING, July 30 (Xinhua) — China is ready to forge greater synergy between its new infrastructure initiative and “Fast Italy ” to unlock more cooperation potential in digital technologies, ICT, infrastructure, port construction and third-market cooperation, which has the potential to serve as a model of mutually beneficial cooperation for others. Chinese State Councilor and Foreign Minister Wang Yi made the remarks while holding talks with Italian Minister of Foreign Affairs Luigi Di Maio via video link on Wednesday. Wang said that since the start of COVID-19 ...

Abstract : The Asian Infrastructure Investment Bank (AIIB) will focus on shared development, make bold innovations, create the best practices and stay open and inclusive in its future development, the bank's president has said. BEIJING, July 30 (Xinhua) — The Asian Infrastructure Investment Bank (AIIB) will focus on shared development, make bold innovations, create the best practices and stay open and inclusive in its future development, the bank’s president has said. The bank will always stick to the principle of extensive consultation, joint contribution and shared benefits as it seeks future expansion, Jin Liqun, who has just been elected to a second term as the AIIB president, told Xinhua in an exclusive interview. He pledged that the AIIB will become a new platform that promotes development for all its members and facilitates the building of a community with a shared future for mankind. Jin was elected as the inaugural president of the AIIB for a term of five years when ...

Abstract : The People's Bank of China, the central bank, said it will conduct this year's seventh central bank bills swap (CBS) operation on Thursday to improve the liquidity of perpetual bonds issued by commercial banks. BEIJING, July 30 (Xinhua) — The People’s Bank of China, the central bank, said it will conduct this year’s seventh central bank bills swap (CBS) operation on Thursday to improve the liquidity of perpetual bonds issued by commercial banks. The CBS, valued at 5 billion yuan (about 715 million U.S. dollars), is open to primary dealers for bidding at a fixed rate of 0.1 percent, the central bank said in a statement. The swap will be due on Oct. 30, 2020, said the statement. The CBS scheme allows dealers to swap the perpetual bonds they hold for central bank bills, which will effectively boost market demand for perpetual bonds but have a neutral impact on liquidity in the banking system. Perpetual bonds are fixed-income securities with no maturity date and ar...

Abstract : China will accelerate the issuance of local-government special bonds, the Ministry of Finance announced in a circular on Wednesday. BEIJING, July 29 (Xinhua) — China will accelerate the issuance of local-government special bonds, the Ministry of Finance announced in a circular on Wednesday. The issuance of new special bonds should be coordinated with that of special bonds for COVID-19 control and general bonds to keep the bond market stable, with the issuance to be completed by the end of October, said the circular. The maturity of the bonds should be decided in accordance with actual circumstances, according to the document. Meanwhile, the allocation of the new special bonds should be optimized, the circular said, with the funds used in areas including transport infrastructure, energy projects, agricultural and water conservancy, and environmental protection projects. The circular strictly forbids using the new special bonds for the replacement of outstanding debt,...

Abstract : Chinese tech giant Tencent has teamed up with the International Council for Philosophy and Human Sciences (CIPSH), a non-governmental organization within UNESCO, to explore China's experience in digital cultural production. BEIJING, July 30 (Xinhua) — Chinese tech giant Tencent has teamed up with the International Council for Philosophy and Human Sciences (CIPSH), a non-governmental organization within UNESCO, to explore China’s experience in digital cultural production. The two sides will work together to strengthen the integration of technology with human sciences, as well as to promote the global digital cultural industry and relevant academic research, according to a memorandum of strategic cooperation signed at an online ceremony. Under the agreement, the CIPSH will set up a research group led by scholars in the fields of digital humanities and culture and initiate research exploring China’s experience in the production of digital culture with a focus on Tencent...

Abstract : China's economic recovery has brought confidence to the recovery of the world economy amid the COVID-19 pandemic and a tough global recession, Sylwester Szafarz, former consul general of Poland in the Chinese city of Shanghai, has told Xinhua. WARSAW, July 29 (Xinhua) — China’s economic recovery has brought confidence to the recovery of the world economy amid the COVID-19 pandemic and a tough global recession, Sylwester Szafarz, former consul general of Poland in the Chinese city of Shanghai, has told Xinhua. China’s GDP grew by 3.2 percent year-on-year in the second quarter, according to China’s National Bureau of Statistics. Szafarz spoke highly of the growth, saying that China has overcome the adverse effects of the epidemic and the global economic recession, and has become the first major economy to resume growth since the outbreak of the epidemic. “This will play a positive role in the reconstruction of the world economy in the post-epidemic era.” Szafarz note...

Abstract : Without a seaport, Hunchun, a border city in northeast China's Jilin Province, is aiming to build itself into a marine economy hub. CHANGCHUN, July 29 (Xinhua) — Without a seaport, Hunchun, a border city in northeast China’s Jilin Province, is aiming to build itself into a marine economy hub. “Though we do not have a seaport, we have a lot of advantages in terms of location and other fields,” said Piao Yifeng, director of the city’s shipping administration bureau. Located at the junction of China, Russia and the Democratic People’s Republic of Korea, the city is 71 km away from the Russian port Zarubino. Wang Jindong, who has been engaged in seafood trade for nearly 20 years, has seized the business opportunities in the city. In 2016, two land ports in Hunchun were approved as designated ports for seafood import. The opening of a freight route linking the city with Russia’s Kamchatka Peninsula and the Zarubino Port also helped cut the cost of seafood transportati...

Abstract : CITIC Securities, one of China's leading brokerage companies, on Wednesday reported soaring profits for the first half of the year amid a vibrant domestic stock market. BEIJING, July 29 (Xinhua) — CITIC Securities, one of China’s leading brokerage companies, on Wednesday reported soaring profits for the first half of the year amid a vibrant domestic stock market. Profits surged by 38.47 percent from a year ago to reach 8.93 billion yuan (about 1.3 billion U.S. dollars) during the period, while revenues jumped by 22.72 percent year on year to 26.74 billion yuan, according to a statement the company filed with the Shanghai Stock Exchange. Buoyed by an army of individual investors looking for quick returns, China’s stock market euphoria has been apparent over the past few months, driving brokerages’ business volumes up. CITIC Securities rose by 4.82 percent to close at 29.77 yuan per share on Wednesday. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad....

Abstract : The revenue of software and information services in Beijing exceeded 1.34 trillion yuan (about 192.4 billion U.S. dollars) in 2019, accounting for 23 percent of the country's total, local authorities said Wednesday. BEIJING, July 29 (Xinhua) — The revenue of software and information services in Beijing exceeded 1.34 trillion yuan (about 192.4 billion U.S. dollars) in 2019, accounting for 23 percent of the country’s total, local authorities said Wednesday. In 2019, the added value of the services in the Chinese capital city reached 478.39 billion yuan, making up 13.5 percent of the city’s GDP, according to a report released by Beijing Municipal Bureau of Economy and Information Technology. The number of employees in the sector stood at 899,000, accounting for 14.6 percent of those working in the tertiary industry, the report said. The artificial intelligence industry in Beijing has reached a leading position and has formed a complete industrial chain, from high-end c...

Abstract : The Asian Infrastructure Investment Bank (AIIB) now has 10 members and nine prospective members from Africa after its board of governors approved an application from Liberia to join the bank. BEIJING, July 28 (Xinhua) — The Asian Infrastructure Investment Bank (AIIB) now has 10 members and nine prospective members from Africa after its board of governors approved an application from Liberia to join the bank. AIIB’s approved African members are responsible for over 60 percent of Africa’s gross domestic product and represent over 46 percent of Africa’s population, said the bank. According to the African Development Bank, Africa’s infrastructure financing gap pre- COVID-19 was estimated to be between 67.6 and 107.5 billion U.S. dollars. As a multilateral development bank, committed to financially sustainable lending practices, the AIIB offers African members access to affordable capital and infrastructure expertise to help address this gap. “The growth of our...

Abstract : Chinese State Councilor and Foreign Minister Wang Yi on Tuesday said China and France should strengthen strategic communication and coordination in the face of mounting instability and uncertainty globally, so as to join hands to safeguard multilateralism. BEIJING, July 28 (Xinhua) — Chinese State Councilor and Foreign Minister Wang Yi on Tuesday said China and France should strengthen strategic communication and coordination in the face of mounting instability and uncertainty globally, so as to join hands to safeguard multilateralism and oppose unilateral bullying for the sake of world peace and stability. Wang made the remarks in a phone conversation with French Foreign Minister Jean-Yves Le Drian, while noting that the two sides have achieved fruitful results in the 20th China-France Strategic Dialogue and the seventh China-France High-Level Economic and Financial Dialogue, which have paved the way for exchanges and interaction between the two heads of stat...

Abstract : China's public cloud service market will see rapid growth in the next three to four years, driven by rising demand for cost-effective IT solutions and greater flexibility, scalability, reliability and security of cloud services compared with traditional IT infrastructure. BEIJING, July 26 (Xinhua) — China’s public cloud service market will see rapid growth in the next three to four years, driven by rising demand for cost-effective IT solutions and greater flexibility, scalability, reliability and security of cloud services compared with traditional IT infrastructure, Fitch Ratings said in a latest report. The cloud migration will also be helped by the need for employees to work remotely or in the office in the wake of COVID-19 , and by China’s “new infrastructure” economic stimulus this year, the report noted. Competition in the public cloud service market will remain intense, but Chinese internet majors, including Baidu Inc., Alibaba Group and Tencent Holdings Limit...

Abstract : China's leading automaker First Automotive Works (FAW) Group Co., Ltd. sold more than 1.63 million vehicles in the first half of 2020, up 2.3 percent year on year. CHANGCHUN, July 24 (Xinhua) — China’s leading automaker First Automotive Works (FAW) Group Co., Ltd. sold more than 1.63 million vehicles in the first half of 2020, up 2.3 percent year on year. Its iconic sedan brand Hongqi sold 70,000 vehicles in H1, an increase of 110.7 percent year on year. Jiefang, another major truck brand, sold 278,200 units in H1, up 35.6 percent year on year. The group’s joint ventures FAW-Volkswagen and FAW Toyota also reported good sales. Founded in 1953 in the northeastern city of Changchun, capital of Jilin Province, the state-owned enterprise is seen as the cradle of China’s auto industry. The satisfactory sales in H1 were secured by FAW’s institutional reforms and focus on the iterative product development of its self-owned domestic auto brands over the past few years. Inte...

Abstract : Officials from China and Singapore on Monday pledged to maintain smooth supply chain and trade amid the COVID-19 pandemic. BEIJING, July 28 (Xinhua) — Officials from China and Singapore on Monday pledged to maintain smooth supply chain and trade amid the COVID-19 pandemic. Both sides emphasized cooperation under the Belt and Road Initiative at a minister-level video conference between China’s National Development and Reform Commission and Singapore’s Ministry of Trade and Industry. The two sides expressed confidence that their third-party market cooperation has been running smooth and provided the list of the first batch of major projects under such cooperation. The two sides also discussed strengthening bilateral cooperation in infrastructure and finance. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includ...

Abstract : Drivers and users of Chinese ride-hailing giant DiDi Chuxing have added safety measures to make their rides more secure in Mexico, with new features to be rolled out this month. by Edna Alcantara MEXICO CITY, July 28 (Xinhua) — Drivers and users of Chinese ride-hailing giant DiDi Chuxing have added safety measures to make their rides more secure in Mexico, with new features to be rolled out this month. The new features include the ability to make an audio recording of the trip at the touch of a button, and an automated alert system that is triggered by unusual activity, such as a prolonged stop or overly extended trip. “We are offering drivers and passengers the best protection available on the market,” DiDi’s director of operations for North Mexico, Richard Farr, told Xinhua. “And we will continue to develop tools and functions that allow us to continue providing the highest safety standards, in coordination with the authorities,” Farr said. The features, already av...

Abstract : China and Europe jointly promoting anti-epidemic cooperation and economic recovery would benefit both sides and the whole world, Chinese Vice Premier Liu He said here on Tuesday. Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, co-chairs the 8th China-EU High-level Economic and Trade Dialogue with Valdis Dombrovskis, executive vice president of the European Commission, via video link on July 28, 2020. (Xinhua/Yue Yuewei) BEIJING, July 28 (Xinhua) — China and Europe jointly promoting anti-epidemic cooperation and economic recovery would benefit both sides and the whole world, Chinese Vice Premier Liu He said here on Tuesday. Liu made the remarks during the 8th China-EU High-level Economic and Trade Dialogue, co-chaired via video link with Valdis Dombrovskis, executive vice president of the European Commission. In the meeting, the two sides conducted in-depth, candid and practical discussi...

Abstract : China's central bank Tuesday pumped cash into the banking system via reverse repos to maintain liquidity. BEIJING, July 28 (Xinhua) — China’s central bank Tuesday pumped cash into the banking system via reverse repos to maintain liquidity. The People’s Bank of China injected 80 billion yuan (about 11.45 billion U.S. dollars) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to a statement on the website of the central bank. The move was intended to maintain stable liquidity in the banking system, the central bank said. With 10 billion yuan of reverse repos maturing Tuesday, the operation led to a net injection of 70 billion yuan into the market. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. China pursues a prudent monetary policy in a more flexible and appropriate way, according to this year’s gov...

Abstract : China's leading liquor producer, Kweichow Moutai, said its net profit rise by 13.29 percent year on year to 22.6 billion yuan (about 3.2 billion U.S. dollars) in the first half of 2020. GUIYANG, July 28 (Xinhua) — China’s leading liquor producer, Kweichow Moutai, said its net profit rise by 13.29 percent year on year to 22.6 billion yuan (about 3.2 billion U.S. dollars) in the first half of 2020. The company also said in its H1 earnings report that it generated operating revenue of 43.95 billion yuan, an annual increase of 11.31 percent. The domestic market contributed 42.81 billion yuan of its operating income in H1. As of the close of trading on July 28, Moutai’s share price was 1,670 yuan, up by 2.92 percent on the day, with its total market value reaching nearly 2.1 trillion yuan. In 2019, Moutai’s revenue was at around 88.85 billion yuan, up by about 15.1 percent year on year. Its operating profit rose by 14.99 percent from the previous year to about ...

Abstract : Southwest China's Chongqing Municipality has held a fair to promote the sales of quality export products in the domestic market. CHONGQING, July 28 (Xinhua) — Southwest China’s Chongqing Municipality has held a fair to promote the sales of quality export products in the domestic market. At the fair held in downtown Chongqing from July 25 to 27, nearly 100 manufacturers showcased over 1,000 products, ranging from farm produce and textile products to intelligent home appliances, motorcycles and even cars. “Due to the impact of the COVID-19 epidemic, there have been greater uncertainties in the international market,” said Dai Xiaoqiang, vice general manager of Huida Lemon, a Chongqing-based food manufacturer. “Many enterprises have switched their focus to tapping the domestic market.” At a time when overseas demand has dampened, demand potential from the huge domestic market has created new opportunities for Chinese enterprises, said Dai. Similar events that aimed ...

Abstract : A total of 17 out of 32 firms on the best-performing tier of China's National Equities Exchange and Quotations (NEEQ), or the "new third board," belong to the high-tech industry, according to the exchange. BEIJING, July 28 (Xinhua) — A total of 17 out of 32 firms on the best-performing tier of China’s National Equities Exchange and Quotations (NEEQ), or the “new third board,” belong to the high-tech industry, according to the exchange. Last October, China’s securities regulator created a new tier for best-performing companies at the NEEQ and allowed them to be listed on stock exchanges. Shares of the 32 companies that have completed the initial public offerings process started trading Monday as the first batch of firms listed on the best-performing tier of the NEEQ. Spanning 19 industries, most firms belong to the sectors of software and information, pharmaceuticals, computer equipment, pollution control and pesticide development. Launched in 2013, the NE...

Abstract : China's leading liquor maker Sichuan Swellfun Co. Ltd. Monday reported a notable decline in revenue and net profits in the first half of the year (H1). BEIJING, July 27 (Xinhua) — China’s leading liquor maker Sichuan Swellfun Co. Ltd. Monday reported a notable decline in revenue and net profits in the first half of the year (H1). The company’s operating revenue sank 52.41 percent year on year to 804 million yuan (114.8 million U.S. dollars) in H1, while net profits attributable to shareholders plunged 69.64 percent to 103 million yuan, according to a statement filed by the firm with the Shanghai Stock Exchange. The COVID-19 epidemic has led to fewer social gatherings, drastically reducing alcohol consumption in the January-June period, said the statement. Shares of the Shanghai-listed liquor maker gained 1.48 percent to close at 66.98 yuan Monday. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.Chi...

Abstract : The balance of domestic and foreign currency loans in the Yangtze River Delta region stood at 41.79 trillion yuan (about 5.97 trillion U.S. dollars) at the end of June, up 14.8 percent year on year, official data shows. SHANGHAI, July 27 (Xinhua) — The balance of domestic and foreign currency loans in the Yangtze River Delta region stood at 41.79 trillion yuan (about 5.97 trillion U.S. dollars) at the end of June, up 14.8 percent year on year, official data shows. According to the Shanghai head office of the People’s Bank of China, as of the end of June, the balance of RMB loans was 40.64 trillion yuan, up 14.8 percent year on year, registering an increased growth of 0.1 percentage points compared to the same period last year. In June alone, new RMB loans in the region hit 557 billion yuan, an increase of 83.7 billion yuan year on year, while new foreign currency loans stood at 2.5 billion U.S. dollars during the period. Meanwhile, the balance of domestic and foreign cu...

Abstract : China's recent acceleration in business reforms has helped the country become the top reformer among large economies, according to a report issued by the World Bank. BEIJING, July 28 (Xinhua) — China’s recent acceleration in business reforms has helped the country become the top reformer among large economies, according to a report issued by the World Bank. Figures presented in the Doing Business 2020 report, the latest in a series of annual reports by the World Bank, show that China has made greater progress in the 2005-2020 period than any other large economy in terms of facilitating the ease of doing business. “China has improved across almost all Doing Business indicators over the last decade, but the progress has been particularly impressive during Doing Business 2018-2020, when most Doing Business indicators improved,” the report said. In the Doing Business 2018 report, China ranked 78th among 190 economies around the world, improving to 31st position in Doi...

Abstract : Chinese retail giant Suning.com aims to become a retail service provider for small and medium retailers in the coming decade, with more favorable measures to be rolled out, according to Gu Wei, vice president of the company at the 30th anniversary celebration conference on Monday. People shops at unmanned shelves in Nanjing, capital of east China’s Jiangsu Province, Jan. 10, 2018. Some unmanned shelves were set up by China’s e-commerce platform Suning Appliance in Nanjing recently, in which payments can be made through QR codes. (Xinhua/Li Yuze) BEIJING, July 27 (Xinhua) — Chinese retail giant Suning.com aims to become a retail service provider for small and medium retailersin the coming decade, with more favorable measures to be rolled out, according to Gu Wei, vice president of the company at the 30th anniversary celebration conference on Monday. Suning.com will reduce and exempt logistics warehouse storage fees on the premise of meeting the turnover efficiency in the...

Abstract : Profits of China's major industrial firms rebounded in the second quarter (Q2) as business activities continued to pick up, but the recovery still faces uncertainties due to the global spread of COVID-19. BEIJING, July 27 (Xinhua) — Profits of China’s major industrial firms rebounded in the second quarter (Q2) as business activities continued to pick up, but the recovery still faces uncertainties due to the global spread of COVID-19 . In Q2, profits of industrial companies with annual revenue of more than 20 million yuan (about 2.86 million U.S. dollars) rose by 4.8 percent year on year, reversing the 36.7-percent decline in Q1, the National Bureau of Statistics (NBS) said on Monday. In June alone, major industrial firms saw their profits rise by 11.5 percent to 666.55 billion yuan, widening by 5.5 percentage points from that in May, said NBS senior statistician Zhu Hong. The quickened growth in industrial production and sales, as well as the moderate drop in the fa...

Abstract : E-commerce trade volumes at a bonded zone in central China's Henan Province registered fast growth in the first half of this year, according to Zhengzhou customs. ZHENGZHOU, July 27 (Xinhua) — E-commerce trade volumes at a bonded zone in central China’s Henan Province registered fast growth in the first half of this year, according to Zhengzhou customs. Total foreign trade via e-commerce channels in the Zhengzhou Xinzheng Comprehensive Bonded Zone, also known as the Zhengzhou Airport Economy Zone, rose by 114 percent to 4.45 billion yuan (about 635 million U.S. dollars) from Jan.-June. Cross-border e-commerce imports at the zone almost doubled to 3.87 billion yuan from last year, while exports rose more than fivefold during the same period. Small commodities such as mobile phone shells, clothes, and toys were among the top popular products traded via e-commerce, according to customs authorities at the zone. Covering an area of about 5 square km, the zone has ta...

Abstract : The gross domestic product (GDP) of northwest China's Xinjiang Uygur Autonomous Region totaled 641.28 billion yuan (about 91.4 billion U.S. dollars) in the first half of this year, up 3.3 percent year on year, local authorities said. URUMQI, July 24 (Xinhua) — The gross domestic product (GDP) of northwest China’s Xinjiang Uygur Autonomous Region totaled 641.28 billion yuan (about 91.4 billion U.S. dollars) in the first half of this year, up 3.3 percent year on year, local authorities said. During the period, the added value of the region’s primary industry reached 44.04 billion yuan, up 4.6 percent year on year, while that of the secondary industry reached 233.83 billion yuan, up 8.1 percent year on year, according to the regional statistics bureau. The added value of the tertiary industry grew 0.1 percent to about 363.42 billion yuan, according to Xu Bin, the bureau chief. “Overall, Xinjiang’s economy remained stable in the first half of the year, with major econom...

Abstract : The China Ningbo Containerized Freight Index (NCFI) reported a soar in freight indices in the east South America routes. NINGBO, July 25 (Xinhua) — The China Ningbo Containerized Freight Index (NCFI) reported a soar in freight indices in the east South America routes. The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 779.2 points Friday, down 0.6 percent compared with last week. The sub-reading for the east coast of South America quoted 527.4 points, up 88.7 percent from last week. According to the Ningbo Shipping Exchange, as last week’s freight rates hit a new low since 2019, liner companies plan to push up the freight rates in August, causing a significant rise this week. Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic ...

Abstract : The Pokémon Company has registered a wholly-owned subsidiary in Shanghai as the Japanese company seeks to explore the Chinese market. SHANGHAI, July 27 (Xinhua) — The Pokémon Company has registered a wholly-owned subsidiary in Shanghai as the Japanese company seeks to explore the Chinese market. The subsidiary has a registered capital of 120 million Japanese yen (about 1.13 million U.S. dollars), according to the market regulation department in Changning District. Its business scope includes toys, anime, and entertainment products. Many Chinese Pokémon fans were excited about the possibility of the company launching its first Pokémon Center, a site for Pokémon shopping, on the Chinese mainland. Just like the Pokémon Company, many foreign enterprises now seek opportunities in the Chinese market. Shanghai received 10.28 billion U.S. dollars in foreign investment in the first half of 2020, up by 5.4 percent year on year, according to the Shanghai Municipal Commission of C...

Abstract : China's civil aviation continues to recover as daily flights hit a new high on Thursday since the COVID-19 outbreak, said the Civil Aviation Administration of China (CAAC) on Friday. BEIJING, July 24 (Xinhua) — China’s civil aviation continues to recover as daily flights hit a new high on Thursday since the COVID-19 outbreak, said the Civil Aviation Administration of China (CAAC) on Friday. The daily number of civil aviation flights reached 13,059 on Thursday, about 80 percent of the level before the COVID-19 outbreak, according to the CAAC. The daily number of air passengers hit 1.27 million on Thursday, rebounding to 70 percent of the level in the same period last year. Since February, the year-on-year growth rate of China’s air passenger traffic has picked up month by month. The civil aviation sector reported an average of 10,820 daily flights in June, up by 14.1 percent from May. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt...

Abstract : The Maldives government led by President Ibrahim Solih will work to strengthen and ensure that relations between Maldives and China would continue to maintain the momentum of development and the Maldives will take all necessary steps to impel the existing bonds of friendship. by Tang Lu, Jamila Najmuddin MALE, July 26 (Xinhua) — The Maldives government led by President Ibrahim Solih will work to strengthen and ensure that relations between Maldives and China would continue to maintain the momentum of development and the Maldives will take all necessary steps to impel the existing bonds of friendship and understanding between the two countries to new heights in the years to come, Maldivian Foreign Minister Abdulla Shahid has said. In an interview with Xinhua, Shahid said the Maldives government and its people note with gratitude the assistance received from the government of China and the Chinese people in combating the spread of the COVID-19 . “China has been and wil...

Abstract : Eleven Chinese airlines under the HNA Group have opened 95 round-trip routes to hot tourist destinations across the country to meet summer holiday travel demand. HAIKOU, July 25 (Xinhua) — Eleven Chinese airlines under the HNA Group have opened 95 round-trip routes to hot tourist destinations across the country to meet summer holiday travel demand. The airlines also resumed and increased the number of flights on 346 routes, taking the transport capacity to 80 percent of the same period last year, according to the HNA Group. The newly-opened routes cover 71 popular tourist destinations including the cities of Haikou and Sanya in Hainan Province, Changsha, Hangzhou and Shenzhen. Hainan has become one of the hottest tourist destinations as the island is building a free trade port with some favorable policies including duty-free shopping. The airlines will further improve Hainan’s air transport capacity in August, with the flow of passengers expected to return to the leve...

Abstract : China's manufacturing sector is accelerating its recovery as firms resort to digital technologies to secure supply chains and lower production costs. BEIJING, July 24 (Xinhua) — China’s manufacturing sector is accelerating its recovery as firms resort to digital technologies to secure supply chains and lower production costs. In June, China’s purchasing managers’ index (PMI) ticked up from 50.6 in May to 50.9. But many Chinese manufacturers still face difficulties overcoming supply chain disruptions caused by the COVID-19 pandemic, for instance, higher production costs. Against such a backdrop, digital transformation is becoming a favored solution for manufacturing firms to generate fresh momentum for their recovery. REVAMPING SUPPLY CHAIN While most manufacturing firms are stalled by the COVID-19 epidemic, there is one company that has bucked the broader downward trend. From January to May, LCFC (Hefei) Electronics Technology Co., Ltd., the largest personal com...