Global-China Information Service

Abstract : South China's Guangdong Province is targeting economic growth of more than 6 percent this year, Governor Ma Xingrui said Sunday. GUANGZHOU, Jan. 24 (Xinhua) — South China’s Guangdong Province is targeting economic growth of more than 6 percent this year, Governor Ma Xingrui said Sunday. The province recorded 2.3-percent GDP growth in 2020 to exceed 11 trillion yuan (about 1.7 trillion U.S. dollars), Ma said while delivering a government work report at the annual session of the provincial legislature. Its GDP volume has continued to lead China’s provincial-level regions, Ma added. Guangdong, a manufacturing heartland and leading foreign trade player in the country, has been successful in resuming production and business after the COVID-19 outbreak while containing the resurgence of sporadic cases, according to the government report. China’s national GDP increased 2.3 percent year on year last year, likely the only major economy to post growth in the pandemic-ravag...

Abstract : Southwest China's Guizhou Province saw its foreign trade grow by 20.6 percent year on year to 54.65 billion yuan (about 8.43 billion U.S. dollars) in 2020, customs statistics showed. GUIYANG, Jan. 28 (Xinhua) — Southwest China’s Guizhou Province saw its foreign trade grow by 20.6 percent year on year to 54.65 billion yuan (about 8.43 billion U.S. dollars) in 2020, customs statistics showed. Exports in the province increased by 31.9 percent to 43.16 billion yuan, while total imports reached 11.49 billion yuan, a decrease of 8.9 percent year on year. Private enterprises played a vital role in driving the province’s foreign trade last year, contributing 35.53 billion yuan, 65 percent of the total trade volume. The Hong Kong Special Administrative Region was Guizhou’s largest trading partner last year, with trade volume increasing by 62.4 percent to 18.26 billion yuan. Guizhou’s trade with the Belt and Road countries grew by 23.4 percent to 13.47 billion yua...

Abstract : Chief Executive of the Hong Kong Monetary Authority Eddie Yue announced on Thursday that the countercyclical capital buffer (CCyB) ratio for Hong Kong remains unchanged at 1 percent. HONG KONG, Jan. 28 (Xinhua) — Chief Executive of the Hong Kong Monetary Authority Eddie Yue announced on Thursday that the countercyclical capital buffer (CCyB) ratio for Hong Kong remains unchanged at 1 percent. “The economic environment in Hong Kong is still subject to a high level of uncertainty at the moment. It is therefore appropriate to keep the CCyB ratio unchanged and continue to monitor the situation for a few more quarters,” Yue said. In setting the CCyB ratio, the Hong Kong Monetary Authority considered a series of quantitative indicators and qualitative information including an “indicative buffer guide”, which is a metric providing a guide for CCyB ratio based on the gap between the ratio of credit to GDP and its long-term trend, and between the ratio of residential property pri...

Abstract : Southwest China's Yunnan Province plans to build itself into a national clean-energy base, local authorities said Wednesday. KUNMING, Jan. 27 (Xinhua) — Southwest China’s Yunnan Province plans to build itself into a national clean-energy base, local authorities said Wednesday. By 2025, the province’s installed electricity capacity is expected to reach 130 million kilowatts, with green power accounting for more than 86 percent of the total, Zhou Minxin, deputy director of the provincial development and reform commission, told a press briefing. Yunnan will push forward the construction of mega hydropower projects like Wudongde, Baihetan, and Tuoba on the Jinsha and Lancang rivers, Zhou said. The province will also speed up construction of a wind power project providing 8 million kilowatts of energy and a photovoltaic power project providing 3 million kilowatts of energy, Zhou noted. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the...

Abstract : China's coal mining hub Shanxi produced 1.06 billion tonnes of coal in 2020, ranking the first in the country, according to data from the National Bureau of Statistics. TAIYUAN, Jan. 28 (Xinhua) — China’s coal mining hub Shanxi produced 1.06 billion tonnes of coal in 2020, ranking the first in the country, according to data from the National Bureau of Statistics. Amid the province’s drive to cut its outdated overcapacity, Shanxi closed all coal mines with an annual output of fewer than 600,000 tonnes by the end of 2020. The number of coal mines in the north China province had fallen to 890 by the end of 2020. Meanwhile, it has introduced advanced technology for 68 percent of its production capacity. 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, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly,...

Abstract : Online retail sales, an important force in the fight against poverty, jumped 26 percent year on year to total 301.45 billion yuan (about 46.49 billion U.S. dollars) across China's 832 national-level poverty-stricken counties last year, the Ministry of Commerce (MOC) said on Thursday. BEIJING, Jan. 28 (Xinhua) — Online retail sales, an important force in the fight against poverty, jumped 26 percent year on year to total 301.45 billion yuan (about 46.49 billion U.S. dollars) across China’s 832 national-level poverty-stricken counties last year, the Ministry of Commerce (MOC) said on Thursday. In the fourth quarter, the impoverished counties saw online retail sales surge 30.4 percent from a year earlier to 94.57 billion yuan, MOC spokesperson Gao Feng told a regular press conference. The counties were home to about 3.07 million online retailers at the end of last year, up 13.7 percent from the end of 2019, said Gao. China vowed to eliminate absolute poverty by the end ...

Abstract : Trade in agricultural products between China and Russia reached a record high of 5.55 billion U.S. dollars last year, China's Ministry of Commerce said Thursday. BEIJING, Jan. 28 (Xinhua) — Trade in agricultural products between China and Russia reached a record high of 5.55 billion U.S. dollars last year, China’s Ministry of Commerce said Thursday. China’s agricultural imports from Russia hit 4.09 billion dollars in 2020, up 13.7 percent year on year, Gao Feng, spokesperson for the ministry, said at a regular online press conference. China has become Russia’s largest export market in terms of farm produce and meat, Gao said. Bilateral trade picked up during the second half of last year. China’s imports of bulk commodities such as oil, gas and iron ore from Russia increased significantly, while its exports of electronic devices to Russia also grew rapidly. China has been Russia’s largest trading partner for 11 consecutive years, while Russia is China’s 10th lar...

Abstract : Malta is looking forward to enhancing high-level exchanges and cooperation with China and strengthening coordination in international fora to further cement and promote the friendship between the two countries and peoples, Maltese President George Vella said here on Thursday. VALLETTA, Jan. 29 (Xinhua) — Malta is looking forward to enhancing high-level exchanges and cooperation with China and strengthening coordination in international fora to further cement and promote the friendship between the two countries and peoples, Maltese President George Vella said here on Thursday. Vella made the remarks when he met the newly appointed Chinese Ambassador to Malta Yu Dunhai at the Presidential Palace in Valletta, capital city of Malta. Vella spoke highly of the Malta-China relations and thanked China for its support for his country in combating COVID-19 . Malta-China relations have set a model of peaceful coexistence between countries of different sizes, populations, cultur...

Abstract : The People's Bank of China, the central bank, said it will conduct this year's first central bank bills swap (CBS) operation on Friday to improve the liquidity of perpetual bonds issued by commercial banks. BEIJING, Jan. 29 (Xinhua) — The People’s Bank of China, the central bank, said it will conduct this year’s first central bank bills swap (CBS) operation on Friday to improve the liquidity of perpetual bonds issued by commercial banks. The CBS, valued at 5 billion yuan (about 772.7 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 April 29, 2021, said the statement. The CBS scheme allows dealers to swap the perpetual bonds they hold for central bank bills, which will 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 are not redeemable ...

Abstract : The Republic of Belarus on Thursday officially opened a consulate general in southwest China's Chongqing Municipality. CHONGQING, Jan. 28 (Xinhua) — The Republic of Belarus on Thursday officially opened a consulate general in southwest China’s Chongqing Municipality. At the opening ceremony, Li Bo, vice mayor of Chongqing, said the two sides should work together to jointly promote the China-Belarus comprehensive strategic partnership and expand mutually beneficial cooperation in various fields. Li said that, in recent years, the China-Belarus comprehensive strategic partnership, featuring mutual trust and win-win cooperation, has been constantly strengthened and fruitful results have been achieved in jointly building the Belt and Road . Yuri Senko, Belarus Ambassador to China, said he hoped the official opening of the third Consulate General in China would add some motion and content to the commercial, economic, investment , and humanitarian cooperation between Be...

Abstract : China's central bank on Friday conducted 100 billion yuan (about 15.45 billion U.S. dollars) of reverse repos amid rising fiscal expenditure at the end of the month. BEIJING, Jan. 29 (Xinhua) — China’s central bank on Friday conducted 100 billion yuan (about 15.45 billion U.S. dollars) of reverse repos amid rising fiscal expenditure at the end of the month. The move aims to maintain reasonably ample liquidity in the banking system, according to a statement on the website of the People’s Bank of China. The interest rate for the seven-day reverse repos was set at 2.2 percent, the central bank said. With 2 billion yuan of reverse repos maturing on the same day, the move led to a net liquidity injection of 98 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’s central bank has pledged to make its prudent monetary policy...

Abstract : China's securities watchdog said on Thursday that it would toughen regulations and risk prevention in 2021. BEIJING, Jan. 28 (Xinhua) — China’s securities watchdog said on Thursday that it would toughen regulations and risk prevention in 2021. Efforts will be made to maintain the normalization of initial public offerings (IPO) and refinancing activities, and optimize the mechanism of commodity and financial futures, according to a work conference of the China Securities Regulatory Commission. While tightening the information supervision of companies to be listed, the commission will unveil stricter measures to prevent disorderly capital expansion. Stressing steady efforts to apply the registration-based IPO system to all markets, the commission said it will seek more delisting approaches. The commission also vowed tight monitoring of market liquidity and financial leverage. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Ro...

Abstract : China responded "forcefully" to COVID-19 with fiscal policy, which contributed significantly to its growth in 2020, an International Monetary Fund (IMF) official has said, calling for continued fiscal action to help rebalance the Chinese economy. by Xiong Maoling, Gao Pan WASHINGTON, Jan. 28 (Xinhua) — China responded “forcefully” to COVID-19 with fiscal policy , which contributed significantly to its growth in 2020, an International Monetary Fund (IMF) official has said, calling for continued fiscal action to help rebalance the Chinese economy. “There was quite a substantial emphasis on public investment , but also on support to households and firms. There were some measures of tax relief in the process,” Vitor Gaspar, director of the IMF’s fiscal affairs department, told Xinhua in a remote video interview earlier this week, commenting on China’s fiscal policy amid the pandemic. Looking ahead, in the government’s plans, support will continue, Gaspar said, n...

Abstract : Hundreds of flat-bed and container trucks were waiting in line in a logistics center at Pingxiang, a Chinese city bordering Vietnam, waiting for customs clearance — a scene signifying the vitality of trade between China and the Association of Southeast Asian Nations (ASEAN) members. NANNING/BANGKOK, Jan. 28 (Xinhua) — Hundreds of flat-bed and container trucks were waiting in line in a logistics center at Pingxiang, a Chinese city bordering Vietnam , waiting for customs clearance — a scene signifying the vitality of trade between China and the Association of Southeast Asian Nations (ASEAN) members. “Our logistics facilities have been overloaded due to peak season ahead of the Spring Festival,” said Nong Chaoyong, head of the administration committee of Pingxiang national pilot zone for development and opening-up. Once they have passed the customs checkpoints, goods from Southeast Asian countries will soon hit the shelves in cities like Beijing and Shanghai, adding to t...

Abstract : Yiwu, China's small commodities trade hub in eastern Zhejiang Province, will launch more than 1,500 Europe-bound freight trains this year, according to a work report of the provincial government. HANGZHOU, Jan. 28 (Xinhua) — Yiwu, China’s small commodities trade hub in eastern Zhejiang Province, will launch more than 1,500 Europe-bound freight trains this year, according to a work report of the provincial government. The cargo route linking Yiwu with Europe via Xinjiang in northwest China handled 1,399 China-Europe freight trains in 2020, soaring by 165 percent year on year, said the report reviewed at the ongoing annual session of the provincial legislature. As a major foreign trade engine in China, Zhejiang saw its exports grow by 9.1 percent, year on year, to nearly 2.52 trillion yuan (about 388.5 billion U.S. dollars) in 2020. It accounted for 14 percent of the country’s total export volume. Initiated in 2011, the China-Europe rail transport service is consi...

Abstract : A total of 3.874 million guests checked into Macao's hotels and guesthouses in 2020, down 72.5 percent year on year, the special administrative region's (SAR) statistics department said here Thursday. MACAO, Jan. 28 (Xinhua) — A total of 3.874 million guests checked into Macao’s hotels and guesthouses in 2020, down 72.5 percent year on year, the special administrative region’s (SAR) statistics department said here Thursday. The latest report from the Statistics and Census Service (DSEC) showed that the average occupancy rate of guest rooms for 2020 dropped 62.2 percentage points from a year earlier to 28.6 percent. Guests from the mainland decreased by 71.9 percent year on year to 2.76 million, about 71.2 percent of the total, showed the report. The average length of stay of guests stood at 1.7 nights, up by 0.2 night over 2019. For the whole year of 2020, package tour visitors added up to 263,000, a decline of 96.8 percent from the previous year, whereas the nu...

Abstract : As there was no electricity supply in the remote Bangladeshi village of Padmo Para, Fatima Khatun used to light candles to do homework after dark. BEIJING, Jan. 29 (Xinhua) — As there was no electricity supply in the remote Bangladeshi village of Padmo Para, Fatima Khatun used to light candles to do homework after dark. “We did not score well in exams” as a result, she said. But today, a light bulb has lit up Khatun’s home, allowing her to read for hours at night. The Bangladeshi village gained access to electricity for the first time in 2018 under a project financed by the Asian Infrastructure Investment Bank (AIIB), a China-proposed multilateral financial institution. For the past five years since its inception, the Beijing-headquartered development bank has provided much-needed funding and resources to infrastructure projects across Asia. In Pakistan , before the completion of the M-4 National Motorway project, it took Sohail Iqbal nine to 10 hours to travel fro...

Abstract : Ford Motor Co. will manufacture and sell its new and all-electric Mustang Mach-E SUV in China. CHICAGO, Jan. 28 (Xinhua) — Ford Motor Co. will manufacture and sell its new and all-electric Mustang Mach-E SUV in China. The vehicle will be manufactured by its joint venture with a Chinese automaker, Changan Ford, local media quoted the Dearborn-based automaker as saying on Thursday. The China-built Mach-E will feature a “smart cockpit” equipped with Ford’s driver-assist technologies and an infotainment system that will receive upgrades via over-the-air software updates. The vehicle will have the capability of hands-free driving on prequalified sections of divided highways. The Mach-E sold in China will have an estimated driving range of more than 600 km. While Ford’s vehicle sales in the United States dropped 15.6 percent in 2020, its sales in China grew 6.1 percent. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BR...

Abstract : Spring Festival shopping, a time-honored tradition for the Chinese New Year, has taken a virtual twist, as more Chinese people, having chosen to stay put during the upcoming holiday due to COVID-19 concerns, are going online to buy gifts for their family and friends. BEIJING, Jan. 28 (Xinhua) — Spring Festival shopping, a time-honored tradition for the Chinese New Year, has taken a virtual twist, as more Chinese people, having chosen to stay put during the upcoming holiday due to COVID-19 concerns, are going online to buy gifts for their family and friends. In an effort to contain the latest resurgence of COVID-19, many places across China have encouraged residents and migrant workers to stay where they are to celebrate the Spring Festival, which falls on Feb. 12 this year. In response to the call, many people have cancelled their travel plans for the Spring Festival, the most important festival in China and one traditionally marked by mass migration and family reunions...

Abstract : East China's Zhejiang Province will explore building more community-based nursing homes this year amid efforts to cope with the rapidly aging population. Elderly people enjoy leisure time at the park area of the elderly care community Xingfucheng in Zhangwu Township of Anji County, east China’s Zhejiang Province, Sept. 9, 2020. (Xinhua/Xu Yu) HANGZHOU, Jan. 28 (Xinhua) — East China’s Zhejiang Province will explore building more community-based nursing homes this year amid efforts to cope with the rapidly aging population. The move aims to construct nursing homes near the current homes of the elderly, said Wang Jianhou, director of the Zhejiang Provincial Civil Affairs Department, at the ongoing annual session of the Zhejiang provincial people’s congress. Most elderly Chinese rely on home care. In Zhejiang, home care for the elderly accounts for 98.5 percent, while institutional care is responsible for the rest. There are 2,458 nursing homes in the prov...

Abstract : China is expected to see the size of its private consumption more than double in the next decade, with the share of services slated to outgrow goods, according to a research report from Morgan Stanley. BEIJING, Jan. 28 (Xinhua) — China is expected to see the size of its private consumption more than double in the next decade, with the share of services slated to outgrow goods, according to a research report from Morgan Stanley. The country’s private consumption is likely to reach 12.7 trillion U.S. dollars by 2030, making China a global consumption powerhouse and matching the size of the current U.S. market, the investment bank forecast. A key shift in China’s consumption structure over the next 10 years is that consumption of services will overtake that of goods, with the share of services in consumption reaching 52 percent by 2030, the report noted. The expansion of the country’s consumption market will come along with fundamental changes in the domestic consumption ...

Abstract : New Zealand's biggest goods export, dairy products, fell 377 million NZ dollars (270 million U.S. dollars), or 19 percent, in December 2020, compared with the same month in 2019, the statistics department Stats NZ said on Thursday. WELLINGTON, Jan. 28 (Xinhua) — New Zealand’s biggest goods export, dairy products, fell 377 million NZ dollars (270 million U.S. dollars), or 19 percent, in December 2020, compared with the same month in 2019, the statistics department Stats NZ said on Thursday. The drop in dairy exports was mainly due to a fall in sales to New Zealand’s biggest export market, China, according to Stats NZ. Total dairy exports to China fell 21 percent to 740 million NZ dollars in December 2020. This was led by falls in milk powder, it said. “This is also the first time in six years that there has been a fall in dairy product exports to China in the December month,” international trade manager Alasdair Allen said in a statement. The large fall in...

Abstract : China will donate 300,000 COVID-19 vaccine doses to Sri Lanka to jointly fight the COVID-19 pandemic. A staff member checks the packaging quality of COVID-19 inactivated vaccine products at a packaging plant of the Beijing Biological Products Institute Co., Ltd., a subsidiary of Chinese pharmaceutical firm Sinopharm, in Beijing Dec. 25, 2020. (Xinhua/Zhang Yuwei) The vaccine doses are expected to be handed over to the Sri Lanka n side in mid-February after the due procedures in both ends are completed. COLOMBO, Jan. 28 (Xinhua) — China will donate 300,000 COVID-19 vaccine doses to Sri Lanka to jointly fight the COVID-19 pandemic. A statement from the Chinese Embassy in Colombo said Wednesday that China made the decision after a recent request by the Sri Lankan government. The vaccine doses are expected to be handed over to the Sri Lankan side in mid-February after the due procedures in both ends are completed, the statement said, noting that the vaccin...

Abstract : China kicked off its largest annual travel season Thursday, with far fewer passenger trips expected amid stringent epidemic control measures. BEIJING, Jan. 28 (Xinhua) — China kicked off its largest annual travel season Thursday, with far fewer passenger trips expected amid stringent epidemic control measures. In the 40-day travel season, also known as chunyun, many people will travel to reunite with their families for the Lunar New Year, or Spring Festival, which falls on Feb. 12 this year. Following the resurgence of sporadic COVID-19 cases and restrictive measures taken to reduce people’s movement nationwide, China State Railway Group Co., Ltd. on Wednesday reconfirmed its adjusted forecast for railway passenger trips during this year’s travel season, down from 407 million to 296 million. The Chinese mainland on Wednesday reported 54 newly confirmed COVID-19 cases, including 41 locally transmitted ones, the National Health Commission (NHC) said Thursday. ...

Abstract : China's readiness to cooperate on global public health issues offers a "new paradigm for international relations" amid the COVID-19 pandemic, said Evandro Menezes, a Brazilian professor of international law. RIO DE JANEIRO, Jan. 26 (Xinhua) — China’s readiness to cooperate on global public health issues offers a “new paradigm for international relation s” amid the COVID-19 pandemic, said Evandro Menezes, a Brazilian professor of international law. “China has collaborated with more than 100 countries in combating the pandemic,” said Menezes, who serves as coordinator of the Nucleus for China-Brazil Studies at the Getulio Vargas Foundation (FGV), a leading economic think tank. “It is a possible new paradigm for international relation s, where global public health issues related to the protection of people’s lives should be dealt with not by the exclusive logic of the market, but by depending on the broader public interest,” the expert said in an interview ...

Abstract : China's fiscal revenue decreased 3.9 percent year on year to around 18.29 trillion yuan (about 2.8 trillion U.S. dollars) in 2020, official data showed Thursday. BEIJING, Jan. 28 (Xinhua) — China’s fiscal revenue decreased 3.9 percent year on year to around 18.29 trillion yuan (about 2.8 trillion U.S. dollars) in 2020, official data showed Thursday. The central government collected about 8.28 trillion yuan in revenue, down 7.3 percent year on year, while local governments saw revenue down 0.9 percent to about 10 trillion yuan, according to data from the Ministry of Finance. Tax revenue totaled 15.43 trillion yuan, down 2.3 percent year on year. Specifically, revenue from domestic value-added tax last year went down 8.9 percent from one year earlier to about 5.68 trillion yuan, while that from domestic consumption tax dropped 4.3 percent to 1.2 trillion yuan. Revenue from individual income tax rose 11.4 percent year on year to 1.16 trillion yuan in the perio...

Abstract : The 737-800 Boeing Converted Freighter (BCF) project in China has received in excess of 150 orders, according to Boeing China on Tuesday. BEIJING, Jan. 26 (Xinhua) — The 737-800 Boeing Converted Freighter (BCF) project in China has received in excess of 150 orders, according to Boeing China on Tuesday. The 737-800BCF project recently received 12 new orders, showing strong demand for converted freighters in the express delivery and e-commerce market, said Boeing China. In 2016, Boeing launched the 737-800BCF project exclusively in China, where there is a surging e-commerce industry and a massive market. To date, Boeing and its partners have established production lines for the project in three Chinese cities: Shanghai, Jinan and Guangzhou. The 737-800BCF freighters are suited to the transport of express cargo on domestic or short-haul routes, with a payload of up to 23.9 tonnes and a range of 3,750 km. According to Boeing’s Commercial Market Outlook released in 2020, t...

Abstract : China's National Development and Reform Commission on Tuesday released a revised catalogue of industries whose development is to be encouraged in the country's western regions. BEIJING, Jan. 26 (Xinhua) — China’s National Development and Reform Commission on Tuesday released a revised catalogue of industries whose development is to be encouraged in the country’s western regions. The move aims to promote industrial upgrades and the development of characteristic industries in the vast western areas of China. Effective from March 1, the revised catalogue will allow corporate income tax to be levied at a reduced rate of 15 percent for eligible enterprises. Industries including automobile and parts manufacturing, smart and green textile and garment processing, household appliances and consumer electronics manufacturing have been added to the list, the commission said. To further encourage the western region to better utilize its unique advantages, industries such ...

Abstract : Rural residents of northwest China's Xinjiang Uygur Autonomous Region enjoyed steady income growth in 2020 as the region's anti-poverty campaign bore fruit, official data showed on Wednesday. URUMQI, Jan. 27 (Xinhua) — Rural residents of northwest China’s Xinjiang Uygur Autonomous Region enjoyed steady income growth in 2020 as the region’s anti-poverty campaign bore fruit, official data showed on Wednesday. Their per capita disposable income last year reached 14,056 yuan (about 2,169 U.S. dollars), up 5 percent year on year excluding the inflation factor, according to a press conference. Xinjiang’s consumer price index , a main gauge of inflation, edged up 1.5 percent year on year in 2020, 1 percentage point lower than the national figure. The region’s annual average urban surveyed unemployment rate stood at 5.2 percent in 2020, with the number dropping to 4.6 percent in the last quarter. Xinjiang bid farewell to absolute poverty in 2020, with its last 10 count...

Abstract : Chairperson of the African Union (AU) Commission Moussa Faki Mahamat has said that "significant and sustained" progress has been made in China-Africa ties. Containers are seen at the new container terminal in Walvis Bay, Namibia, Aug. 2, 2019. (Xinhua/Zhang Yu) “With China, significant and sustained progress has been made within the framework of the Forum on China-Africa Cooperation,” Chairperson of the African Union  Commission Moussa Faki Mahamat said. ADDIS ABABA, Jan. 28 (Xinhua) — Chairperson of the African Union (AU) Commission Moussa Faki Mahamat has said that “significant and sustained” progress has been made in China-Africa ties. “With China, significant and sustained progress has been made within the framework of the Forum on China-Africa Cooperation (FOCAC),” Mahamat said in an analysis of his first-term AU Commission chairmanship published on Tuesday. Photo taken on Sept. 22, 2020 shows facilities at the BGI Ethiopia COVID-19 tes...

Abstract : A 10.7 km tunnel on the Kunming-Vientiane Railway linking China with Laos was drilled on Tuesday, marking new progress in the construction of the railway slated to open by the end of this year. KUNMING, Jan. 26 (Xinhua) — A 10.7 km tunnel on the Kunming-Vientiane Railway linking China with Laos was drilled on Tuesday, marking new progress in the construction of the railway slated to open by the end of this year. Located in Jinghong City in southwest China’s Yunnan Province, the Xishuangbanna Tunnel stretches through the Lancang River fault zone. Construction workers have tackled complicated geological conditions since the project commenced in May 2016, according to China Railway’s Kunming bureau. The bureau said the construction of railway stations and track-laying work on the Chinese stretch of the Kunming-Vientiane Railway are proceeding smoothly. The 1,000 km cross-border railway, a major project under the Belt and Road Initiative , will slash the travel time between...

Abstract : China recorded a steady increase in major industrial profits last year as market demand improved amid sustained economic recovery, according to the National Bureau of Statistics (NBS) on Wednesday. Photo taken on Dec. 9, 2020 shows a production line in the car body workshop of the Beijing-Hyundai Works in Cangzhou City of north China’s Hebei Province. (Photo by Yuan Liwei/Xinhua) In 2020, the profits of major industrial firms with an annual business turnover of at least 20 million yuan rose 4.1 percent year on year to more than 6.45 trillion yuan. BEIJING, Jan. 27 (Xinhua) — China recorded a steady increase in major industrial profits last year as market demand improved amid sustained economic recovery, according to the National Bureau of Statistics (NBS) on Wednesday. In 2020, the profits of major industrial firms with an annual business turnover of at least 20 million yuan (about 3.09 million U.S. dollars) rose 4.1 percent year on year to more than 6.45 ...

Abstract : The first China-developed hydrogen fuel cell hybrid locomotive was rolled off the production line of CRRC Datong Co., Ltd. on Wednesday in Datong City, north China's Shanxi Province. TAIYUAN, Jan. 27 (Xinhua) — The first China-developed hydrogen fuel cell hybrid locomotive was rolled off the production line of CRRC Datong Co., Ltd. on Wednesday in Datong City, north China’s Shanxi Province. The locomotive is designed to run at a speed of 80 km per hour, with 700 kW of continuous power for 24.5 hours. Its maximum traction load on a straight track exceeds 5,000 tonnes. “The locomotive uses a combination of a hydrogen fuel cell system and a high-power lithium battery,” said Zhai Wanming, an academician of the Chinese Academy of Sciences. Zhai said compared with traditional fuel and electric locomotives, hydrogen-fueled hybrid locomotives are not only safer and more environmentally friendly but also quieter, cheaper and easier to maintain. Zhao Mingyuan, chief engineer...