Global-China Information Service

Abstract : China is committed to ensuring high-quality development throughout various stages and the entire process of education during the 14th Five-Year Plan period (2021-2025), a senior official said Wednesday. BEIJING, March 31 (Xinhua) — China is committed to ensuring high-quality development throughout various stages and the entire process of education during the 14th Five-Year Plan period (2021-2025), a senior official said Wednesday. Robust efforts will be made to ensure equal access to basic public education, said Song Demin, vice minister of education, noting that the right to education of those living in difficulties will be safeguarded. Other items on the agenda include advancing industry-education integration in vocational education, making higher education accessible to more people and providing more resources for life-long learning, Song told a press conference. The vice minister also vowed to narrow urban-rural and regional gaps in education as China pus...

Abstract : The purchasing managers' index (PMI) for China's manufacturing sector came in at 51.9 in March, edging up from 50.6 of February, data from the National Bureau of Statistics (NBS) showed Wednesday. BEIJING, March 31 (Xinhua) — The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 51.9 in March, edging up from 50.6 of February, data from the National Bureau of Statistics (NBS) showed Wednesday. A reading above 50 indicates expansion, while a reading below reflects contraction. The rise came as factory activity recovered at a faster pace after the Spring Festival holiday, which fell in February this year, NBS senior statistician Zhao Qinghe said. The sub-index for production stood at 53.9 in March, up 2 percentage points from a month earlier, while that for new orders rose 2.1 percentage points to 53.6, which indicates faster expansion of production and demand in the manufacturing sector. The new export order and import sub-index...

Abstract : A cargo plane loaded with 20 tonnes of goods on Tuesday departed from Wuhan in central China for Delhi, India, marking the launch of the 11th regular international cargo route for the Chinese city. WUHAN, March 31 (Xinhua) — A cargo plane loaded with 20 tonnes of goods on Tuesday departed from Wuhan in central China for Delhi, India, marking the launch of the 11th regular international cargo route for the Chinese city. The route is operated by India’s SpiceJet, with three weekly Boeing 737 flights. The goods transported on the route are mainly electronic products, mobile phones and accessories, and cross-border e-commerce goods, with destinations covering a number of major cities in India. Data show that in the first three months of 2021, Hubei Airport Group saw a total international cargo and mail throughput of nearly 30,000 tonnes, showing robust recovery from the adverse impacts of the COVID-19 pandemic. Enditem About Xinhua Silk Road Xinhua Silk Road (...

Abstract : China's leading liquor maker Kweichow Moutai has set its revenue growth target for 2021 at around 10.5 percent compared with last year, the company said on Wednesday. GUIYANG, March 31 (Xinhua) — China’s leading liquor maker Kweichow Moutai has set its revenue growth target for 2021 at around 10.5 percent compared with last year, the company said on Wednesday. The liquor brand saw its revenue rise by 11.1 percent year on year to over 94.9 billion yuan (around 14.45 billion U.S. dollars) in 2020 with its net profit increasing by 13.33 percent year on year to nearly 46.7 billion yuan, the company said in its annual report filed to the Shanghai Stock Exchange. Distilled in the town of Maotai in southwest China’s Guizhou Province, this famed liquor is often served at state banquets. 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 ...

Abstract : China has made historic breakthroughs in protecting water ecology and the environment in recent years, the Ministry of Ecology and Environment said Tuesday. Aerial photo taken on Oct. 30, 2020 shows a lake in Madoi County, Golog Tibetan Autonomous Prefecture, northwest China’s Qinghai Province.(Xinhua/Zhang Long) BEIJING, March 30 (Xinhua) — China has made historic breakthroughs in protecting water ecology and the environment in recent years, the Ministry of Ecology and Environment said Tuesday. Through a battle against water pollution from 2018 to 2020, all cities at or above the prefecture level had eliminated 98.2 percent of the 2,914 “black and odorous” water bodies nationwide as of the end of last year, said ministry official Zhang Bo at a press conference. All industrial parks in provincial-level regions or above had installed facilities for wastewater disposal, Zhang said. Cities at or above the county level had rectified more than 10,000 cases of ir...

Abstract : China will step up efforts to improve the prevention and control of pests and crop diseases to ensure agricultural production this year, the Ministry of Agriculture and Rural Affairs said Tuesday. BEIJING, March 30 (Xinhua) — China will step up efforts to improve the prevention and control of pests and crop diseases to ensure agricultural production this year, the Ministry of Agriculture and Rural Affairs said Tuesday. Guarding against pests and diseases such as stripe rust in wheat and the fall armyworm, the country will focus on ensuring that 90 percent of such outbreaks are properly handled in 2021, with overall losses limited to 5 percent, said Zhang Taolin, vice minister of agriculture and rural affairs, at a meeting. The recent rising temperatures and pest invasions are harbingers of worsening pest and crop-disease outbreaks, Zhang said, predicting a 14-percent yearly growth in the affected area of major crops. Agricultural authorities will intensify monitoring ...

Abstract : The Bank of China (BOC), one of the country's four big state-owned lenders, saw its net profit up 2.92 percent year on year in 2020. BEIJING, March 30 (Xinhua) — The Bank of China (BOC), one of the country’s four big state-owned lenders, saw its net profit up 2.92 percent year on year in 2020. The bank last year raked in a total of 192.9 billion yuan (about 29.39 billion U.S. dollars) in net profit, beating market expectations, according to the bank’s report filed with the Shanghai Stock Exchange. Its revenue rose by 2.98 percent year on year to hit 565.53 billion yuan during the same period, said the report. BOC in 2020 continued its efforts in inclusive finance, noted the report. The bank’s outstanding inclusive finance loans to small businesses climbed by 48 percent by the end of 2020 from the previous year to over 4.61 trillion yuan. Meanwhile, the lender’s non-performing loan ratio last year came in at 1.46 percent, 0.09 points higher from 2019. Enditem About...

Abstract : FTSE Russell, a global multi-asset index provider, confirmed on Monday that Chinese government bonds to be included in the FTSE World Government Bond Index (WGBI) at the end of October. LONDON, March 30 (Xinhua) — FTSE Russell, a global multi-asset index provider, confirmed on Monday that Chinese government bonds to be included in the FTSE World Government Bond Index (WGBI) at the end of October. “FTSE Russell is pleased to confirm that Chinese Government Bonds will be included in the WGBI and its derived indexes beginning at the end of October 2021,” said FTSE Russell in a statement. China’s WGBI inclusion will occur over a period of 36 months to ensure an orderly transition for markets and investors, said FTSE Russell. “This confirmation is based on affirmation with members of the FTSE Russell advisory committees and other index users that ongoing reforms to the Chinese government bond market warrant inclusion in the WGBI,” read the statement. Waqas Samad, chief exec...

Abstract : China is providing vaccine aid to 80 countries and three international organizations, exporting vaccines to more than 40 countries, and cooperating with more than 10 nations in vaccine research, development and production, a Foreign Ministry spokesperson said Tuesday. The second batch of the Sinovac vaccines donated by China arrive in Manila, the Philippines , on March 24, 2021. (Xinhua/Rouelle Umali) BEIJING, March 30 (Xinhua) — China is providing vaccine aid to 80 countries and three international organizations, exporting vaccines to more than 40 countries, and cooperating with more than 10 nations in vaccine research, development and production, a Foreign Ministry spokesperson said Tuesday. Spokesperson Hua Chunying made the remarks at a press briefing after World Health Organization Director-General Tedros Adhanom Ghebreyesus warned Monday against a widening gap between numbers of coronavirus vaccines in wealthy countries and those distributed to poore...

Abstract : Visiting Chinese State Councilor and Foreign Minister Wang Yi on Monday held a meeting with his Omani counterpart Sayyid Badr Hamad al-Busaidi, during which both sides agreed to enhance bilateral cooperation and push forward the free trade zone talks between China and the Gulf Cooperation Council. Visiting Chinese State Councilor and Foreign Minister Wang Yi (L) meets with his Omani counterpart Sayyid Badr Hamad al-Busaidi in Muscat, Oman, March 29, 2021. (Photo by Khaled Orabi/Xinhua) MUSCAT, March 29 (Xinhua) — Visiting Chinese State Councilor and Foreign Minister Wang Yi on Monday held a meeting with his Omani counterpart Sayyid Badr Hamad al-Busaidi, during which both sides agreed to enhance bilateral cooperation and push forward the free trade zone talks between China and the Gulf Cooperation Council (GCC). With a long history dating back to the Silk Road , the ties between China and Oman have exemplified the China-Arab relations and the friendly exchanges betwe...

Abstract : Video-streaming platform Bilibili Inc. started trading on the Hong Kong stock market on Monday as the latest U.S.-listed mainland business to complete a secondary listing here. HONG KONG, March 29 (Xinhua) — Video-streaming platform Bilibili Inc. started trading on the Hong Kong stock market on Monday as the latest U.S.-listed mainland business to complete a secondary listing here. Shares of Bilibili opened at 790 Hong Kong dollars (about 101.67 U.S. dollars), down from its offer price of 808 Hong Kong dollars. Its public offering was oversubscribed more than 170 times by local retail investors, and nearly 12 times by international buyers. Bilibili is expected to raise nearly 20 billion Hong Kong dollars, which will be used to improve its content, user experience and marketing, among others. In its prospectus, the company said it is a leading video community for young generations, citing an average of 202 million monthly active users in the fourth quarter of 2020, up 55...

Abstract : China's internet industry has seen robust growth in recent decades, but its data centers, large-scale servers and cellular base stations are consuming energy at a faster pace. Hence, China's tech firms have started to work on green solutions. Photo shows the Tencent Qingyuan Data Center with low-energy consumption, which was put into operation on July 3, 2020. (Xinhua/Chen Yuxuan) by Xinhua writers Wang Chenxi, Wang Pan and Chen Yuxuan BEIJING, March 28 (Xinhua) — China’s internet industry has seen robust growth in recent decades, but its data centers, large-scale servers and cellular base stations are consuming energy at a faster pace. Hence, China’s tech firms have started to work on green solutions. According to a report by China’s State Grid Energy Research Institute, the electricity consumption by data centers alone in 2020 is estimated to exceed 200 billion kWh, accounting for 2.7 percent of the country’s electricity consumption. By 2030, the data center...

Abstract : China plans to build a major center at the national level focusing on the use of traditional Chinese medicine (TCM) in epidemic prevention and treatment, sources with the top economic planner said Monday. Zhang Boli, recipient of the national honorary title “the People’s Hero” and an academician with the Chinese Academy of Engineering, talks to a patient at First Teaching Hospital of Tianjin University of Traditional Chinese Medicine in north China’s Tianjin, Feb. 23, 2021. (Xinhua/Li Ran) BEIJING, March 29 (Xinhua) — China plans to build a major center at the national level focusing on the use of traditional Chinese medicine (TCM) in epidemic prevention and treatment, sources with the top economic planner said Monday. Sun Zhicheng, a senior official with the social development department of the National Development and Reform Commission, said at a press conference that the center will be tasked with building the talent pool, formulating technical protocols for epidem...

Abstract : The Kangmei Chinese medicinal material price index, a barometer of the traditional Chinese medicine (TCM) material market, rose 0.02 percent to 1,386.96 points Tuesday. HEFEI, March 30 (Xinhua) — The Kangmei Chinese medicinal material price index , a barometer of the traditional Chinese medicine (TCM) material market, rose 0.02 percent to 1,386.96 points Tuesday. Covering more than 500 TCM materials including herbs and minerals from six major markets nationwide, the closely-watched index reflects the overall price trend in the country’s TCM material market. It is released daily by Kangmei Pharmaceutical Co., Ltd, one of China’s major TCM companies. The index was approved by the National Development and Reform Commission of China in 2012 to offer more timely and accurate reference for TCM material growers, traders and pharmaceutical companies. Traditional Chinese medicines, often given as oral liquid, granule and pills, typically use the combination of a number of medici...

Abstract : Chinese e-commerce giant AliExpress said on Monday it will rollout 15-day delivery to Poland for certain products shipped from China, in a bid to expand business in the country. WARSAW, March 29 (Xinhua) — Chinese e-commerce giant AliExpress said on Monday it will rollout 15-day delivery to Poland for certain products shipped from China, in a bid to expand business in the country. The 15-day delivery program will mostly cover household appliances, consumer electronics and products for beauty, sports and health. AliExpress was the second-largest purely online e-commerce platform in Poland last year, according to statistics from the market research company Gemius. “The Polish e-commerce market is still one of the fastest-growing in Europe. AliExpress has a strong position in it and is taking advantage of this growth,” Gary Topp, head of Global Expansion AliExpress in Central and Eastern Europe, said in a statement. Enditem About Xinhua Silk Road Xinhua Silk Road (en.i...

Abstract : The Hong Kong and Macao Affairs Office of the State Council on Tuesday pledged to firmly support China's top legislature in adopting the amended annexes to the Basic Law of the Hong Kong Special Administrative Region (HKSAR). Photo taken on June 12, 2020 shows the night view of Victoria Harbour in Hong Kong, south China. (Xinhua/Wang Shen) BEIJING, March 30 (Xinhua) — The Hong Kong and Macao Affairs Office of the State Council on Tuesday pledged to firmly support China’s top legislature in adopting the amended annexes to the Basic Law of the Hong Kong Special Administrative Region (HKSAR). Plugging loopholes and defects in the HKSAR’s current electoral system and improving methods for the selection of the HKSAR Chief Executive and the formation of the Legislative Council (LegCo) of the HKSAR in a systematic manner are the common aspirations of the Chinese people, including Hong Kong compatriots, said the office in a statement. Stressing that it is a basic politic...

Abstract : A booklet of a guideline on realizing the synergy of consolidating poverty alleviation outcomes and promoting rural vitalization has been published by the People's Publishing House. Students sing in school choir in Liangshan Yi Autonomous Prefecture,southwest China’s Sichuan Province, Feb. 24, 2021. (Xinhua/Tian Jianchuan) BEIJING, March 29 (Xinhua) — A booklet of a guideline on realizing the synergy of consolidating poverty alleviation outcomes and promoting rural vitalization has been published by the People’s Publishing House. The booklet contains the full text of the guideline issued by the Communist Party of China Central Committee and the State Council, as well as answers by a senior agriculture official to press questions regarding the guideline and commentaries from the People’s Daily. The booklet is available at Xinhua Bookstore outlets across the country. About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) ...

Abstract : Singapore's Minister for Transport Ong Ye Kung said Monday that the city-state has received a proposal from China's Hong Kong Special Administrative Region (HKSAR) to re-open borders safely, saying it is studying the situation. SINGAPORE, March 29 (Xinhua) — Singapore’s Minister for Transport Ong Ye Kung said Monday that the city-state has received a proposal from China’s Hong Kong Special Administrative Region (HKSAR) to re-open borders safely, saying it is studying the situation. According to a press release in response to comments from the HKSAR on the Singapore-Hong Kong Air Travel Bubble (ATB), the minister said that Singapore is very happy that Hong Kong has in recent weeks kept the pandemic under good control. “This is a very positive development,” he added. Singapore and Hong Kong agreed to launch designated flights under the ATB in November 2020 in an effort to resume cross-border travel and orderly restart economic activities. But the launch of the A...

Abstract : Taihu tunnel, China's longest underwater highway tunnel, is set to be open to traffic before the end of the year, according to the construction team. Tourists visit the Yuantouzhu scenic spot of the Taihu Lake in Wuxi, east China’s Jiangsu Province, March 13, 2021. (Xinhua/Yang Lei) NANJING, March 29 (Xinhua) — Taihu tunnel, China’s longest underwater highway tunnel, is set to be open to traffic before the end of the year, according to the construction team. The 10.8-km-long, 43.6-meter-wide tunnel is under Taihu Lake, China’s third-largest freshwater lake. It is part of the Changzhou-Wuxi Highway which has a total length of 43.9 km. Construction of the underwater tunnel began in January 2018 in east China’s Jiangsu Province. Currently, all the tunnel floors have been completed, said the China Communications Construction Company (CCCC) Third Harbor Engineering Co., Ltd., which is in charge of the project. The project is utilizing automatic steel processing equipme...

Abstract : Bahraini Crown Prince and Prime Minister Salman bin Hamad Al Khalifa and visiting Chinese State Councilor and Foreign Minister Wang Yi agreed to enhance cooperation to further strengthen their relationship during their meeting here Monday. MANAMA, March 29 (Xinhua) — Bahraini Crown Prince and Prime Minister Salman bin Hamad Al Khalifa and visiting Chinese State Councilor and Foreign Minister Wang Yi agreed to enhance cooperation to further strengthen their relationship during their meeting here Monday. China cherishes its traditional friendship with Bahrain and is willing to work with the kingdom to carry forward the fine tradition of mutual trust and mutual support between the two countries, as well as jointly safeguard the legitimate interests of the two sides, the development rights of developing countries, and world peace and stability, Wang said. Wang said that China hopes the two sides will enhance the synergy between the China-proposed Belt and Road Initiative ...

Abstract : China's state-owned enterprises (SOEs) registered robust growth in the first two months despite low base effects, the Ministry of Finance (MOF) said on Monday. BEIJING, March 29 (Xinhua) — China’s state-owned enterprises (SOEs) registered robust growth in the first two months despite low base effects, the Ministry of Finance (MOF) said on Monday. The combined profits of China’s SOEs rose 150 percent year on year to 548.94 billion yuan (about 83.92 billion U.S. dollars) in the first two months, MOF data shows. The growth rate offsetting base effects came in at 10.2 percent during the January-February period, the ministry said on its website. This refers to the two-year average growth rate based on the figure from the same period in 2019, due to a low comparison base last year, the ministry noted. From January to February, SOEs saw their total revenue surge 33.7 percent year on year to over 10.19 trillion yuan, an 8.2 percent growth offsetting base effects. SOEs’ de...

Abstract : China's tech giant Xiaomi inaugurated Monday its new factory in Turkey's biggest city Istanbul, the state-run Anadolu agency said. Turkish Industry and Technology Minister Mustafa Varank holds a Xiaomi smartphone along with the employees of Xiaomi’s factory in Istanbul, Turkey, on March 6, 2021. (Turkish Industry and Technology Ministry handout via Xinhua) ISTANBUL, March 29 (Xinhua) — China’s tech giant Xiaomi inaugurated Monday its new factory in Turkey’s biggest city Istanbul, the state-run Anadolu agency said. In a message sent to the opening ceremony, Turkish President Recep Tayyip Erdogan conveyed his gratitude to Xiaomi for investing in the country, according to Anadolu. “Turkey, at the conjunction point of Europe and the Middle East, is confidently becoming a production base for the smartphone manufacturers,” Erdogan was quoted as saying by the agency. Xiaomi will create job opportunities for about 2,000 people in its plant, which will have an annual p...

Abstract : Nepali Prime Minister KP Sharma Oli on Monday lauded China's contribution to the world in fighting the COVID-19 pandemic after a batch of Chinese vaccines arrived in the Himalayan country. Chinese Ambassador to Nepal Hou Yanqi (L) gives the COVID-19 vaccine handover document to Prime Minister of Nepal KP Sharma Oli at the prime minister’s residence in Kathmandu, Nepal, on March 29, 2021. (Photo by Sulav Shrestha/Xinhua) “I would like to appreciate the steps taken by China and the work done by the government of China to fight against COVID-19,” Nepali Prime Minister KP Sharma Oli said. “The policy of success that China has adopted is a lesson to other countries.” KATHMANDU, March 29 (Xinhua) — Nepali Prime Minister KP Sharma Oli on Monday lauded China’s contribution to the world in fighting the COVID-19 pandemic after a batch of Chinese vaccines arrived in the Himalayan country. A chartered flight of the Nepal Airlines, the national flag carrier, brought back t...

Abstract : China's home appliance sector posted a rising output in the first two months of the year, data from the Ministry of Industry and Information Technology shows. BEIJING, March 28 (Xinhua) — China’s home appliance sector posted a rising output in the first two months of the year, data from the Ministry of Industry and Information Technology shows. In the January-February period, refrigerators and washing machines saw respective outputs of approximately 12.1 million and 13.1 million, surging 83 percent and 68.2 percent year on year. Air conditioner makers also saw their output soar 70.8 percent year on year to about 29.4 million during the period, the ministry said. In 2020, the country’s outputs of refrigerators and washing machines hit 90.2 million and 80.4 million, respectively, up 8.4 percent and 3.9 percent from 2019, while the air conditioner output fell 8.3 percent year on year to 210.6 million. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.co...

Abstract : Visiting Chinese State Councilor and Foreign Minister Wang Yi on Saturday signed an agreement here with his Iranian counterpart Mohammad Javad Zarif to enhance comprehensive cooperation between the countries. Visiting Chinese State Councilor and Foreign Minister Wang Yi (L) and Iranian Foreign Minister Mohammad Javad Zarif pose for photos with agreements on the China-Iran comprehensive cooperation plan in Tehran, Iran, on March 27, 2021. (Photo by Ahmad Halabisaz/Xinhua) TEHRAN, March 27 (Xinhua) — Visiting Chinese State Councilor and Foreign Minister Wang Yi on Saturday signed an agreement here with his Iranian counterpart Mohammad Javad Zarif to enhance comprehensive cooperation between the countries. The plan for China-Iran comprehensive cooperation is the result of both sides’ efforts after they issued a joint statement on establishing a comprehensive strategic partnership in January 2016, said Wang. Under the new deal, the two sides will tap the potentials in ec...

Abstract : Lock-up shares worth about 32.26 billion yuan (about 4.9 billion U.S. dollars) will become eligible for trade on China's bourses in the coming week. BEIJING, March 28 (Xinhua) — Lock-up shares worth about 32.26 billion yuan (about 4.9 billion U.S. dollars) will become eligible for trade on China’s bourses in the coming week. From March 29 to April 2, about 2.76 billion shares of 22 stocks will become tradable on the two stock exchanges in Shanghai and Shenzhen, according to data from financial information provider Wind. Under China’s stock market rules, major shareholders must wait for one to two years before they are permitted to sell their shares. Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 1.63 percent, at 3,418.33 points. The Shenzhen Component Index closed 2.6 percent higher at 13,769.68 points. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s...

Abstract : China and the United Arab Emirates (UAE) on Sunday discussed a plan to set up COVID-19 vaccination sites in the UAE to inoculate overseas Chinese citizens. ADU DHABI, March 28 (Xinhua) — China and the United Arab Emirates (UAE) on Sunday discussed a plan to set up COVID-19 vaccination sites in the UAE to inoculate overseas Chinese citizens. Visiting Chinese State Councilor and Foreign Minister Wang Yi discussed the plan with his UAE counterpart Sheikh Abdullah bin Zayed al-Nahyan. Wang said the Chinese government attaches great importance to the health and safety of overseas Chinese citizens, and hopes to establish COVID-19 vaccination sites in qualified and willing countries as part of its Spring Vaccine action plan to inoculate overseas Chinese citizens with Chinese vaccines. Sheikh Abdullah said that his country, as China’s strategic partner, is willing to host such sites to facilitate the COVID-19 vaccination for the Chinese citizens in the UAE and neighboring co...

Abstract : CanSino Biologics Inc. said the firm is in talks with a number of European countries about orders for its COVID-19 vaccine, Bloomberg reported on Friday. A medical staff prepares a dose of COVID-19 vaccine at the Beihang University in Beijing, capital of China, March 24, 2021. (Xinhua/Ren Chao) Hungary has granted emergency use authorization for the inoculation, making CanSino the second China-developed COVID-19 vaccine approved in the European country, said Hungarian Chief Medical Officer Cecilia Muller on Monday. BEIJING, March 27 (Xinhua) — CanSino Biologics Inc. said the firm is in talks with a number of European countries about orders for its COVID-19 vaccine, Bloomberg reported on Friday. Hungary has granted emergency use authorization for the inoculation, making CanSino the second China-developed COVID-19 vaccine approved in the European country, said Hungarian Chief Medical Officer Cecilia Muller on Monday. “We are considering extending our regulatory footpri...

Abstract : China's spending on basic research during the 14th Five-Year Plan (2021-2025) period will likely reach a record 8 percent of all research and development (R&D) expenditure, according to the Ministry of Science and Technology. A researcher of Fudan University shows the illuminating fibers in Shanghai, east China, March 10, 2021. (Xinhua/Liu Ying) BEIJING, March 28 (Xinhua) — China’s spending on basic research during the 14th Five-Year Plan (2021-2025) period will likely reach a record 8 percent of all research and development (R&D) expenditure, according to the Ministry of Science and Technology. China’s spending on basic research reached 133.6 billion yuan (about 20.4 billion U.S. dollars) in 2019, accounting for over 6 percent of the R&D expenditure. Spending in 2020 is estimated to exceed 150 billion yuan. Ye Yujiang, an official from the ministry, said besides the increase of central government expenditures, enterprises and the private sector are a...

Abstract : China's outstanding foreign debt stood at 2.4 trillion U.S. dollars at the end of 2020, data from the country's forex regulator showed. BEIJING, March 28 (Xinhua) — China’s outstanding foreign debt stood at 2.4 trillion U.S. dollars at the end of 2020, data from the country’s forex regulator showed. The balance was 92.5 billion dollars higher than that at the end of September 2020, up 4 percent, said Wang Chunying, spokesperson for the State Administration of Foreign Exchange. China’s external debt structure further improved, she said, adding that the proportions of debt in domestic currency and medium and long-term debt both rose from the readings at the end of September 2020. Major indicators of the country’s foreign debt, such as liability ratio, debt ratio and debt servicing ratio, are within internationally recognized thresholds, Wang said, adding that the overall foreign debt risk is controllable. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsi...

Abstract : China's Yunnan Baiyao Group announced that its net profit attributable to shareholders reached 5.52 billion yuan (about 843.4 million U.S. dollars) in 2020, up by 31.85 percent year on year. KUNMING, March 27 (Xinhua) — China’s Yunnan Baiyao Group announced that its net profit attributable to shareholders reached 5.52 billion yuan (about 843.4 million U.S. dollars) in 2020, up by 31.85 percent year on year. Headquartered in southwest China’s Yunnan Province, Yunnan Baiyao is a time-honored brand famous for producing baiyao, a white powder used to stop bleeding and relieve pain. According to a company report released on Friday, it raked in 32.74 billion yuan in operating revenue last year, an annual increase of 10.38 percent. The company is also a leading toothpaste seller in China, with its market share reaching 22.2 percent by the end of last year. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.Ch...

Abstract : China's top state-asset regulator issued a guideline Friday on strengthening the debt risk control of local state-owned enterprises (SOEs) to effectively prevent and defuse major risks. Aerial photo taken on Sept. 27, 2020 shows the science and technology park along the bank of the Dasha River in Nanshan District of Shenzhen, south China’s Guangdong Province. (Xinhua/Mao Siqian) BEIJING, March 26 (Xinhua) — China’s top state-asset regulator issued a guideline Friday on strengthening the debt risk control of local state-owned enterprises (SOEs) to effectively prevent and defuse major risks. Local state-asset regulators should accelerate the establishment and improvement of monitoring and early-warning mechanisms to accurately identify debt risks of local SOEs, said the guideline released by the State-owned Assets Supervision and Administration Commission. Local SOEs with prominent debt risks should be emphasized in supervision and special regulatory measures shoul...

Abstract : Chinese airlines have added more domestic flights to their schedules for the upcoming summer-autumn aviation season, the country's civil aviation regulator said Friday. BEIJING, March 26 (Xinhua) — Chinese airlines have added more domestic flights to their schedules for the upcoming summer-autumn aviation season, the country’s civil aviation regulator said Friday. Spanning from March 28 to October 30, the summer-autumn aviation season will likely see 92,756 domestic flights per week, up by 10.7 percent from the same season in 2020, according to the Civil Aviation Administration of China (CAAC). Domestic and overseas airlines have altogether scheduled 5,972 weekly international cargo flights for the new season, a notable 32.8-percent growth from the winter-spring aviation season, the CAAC said. International passenger flights will maintain a low frequency due to the country’s COVID-19 prevention measures. The number of international passenger flights will rise sligh...

Abstract : Chinese authorities moved Friday to tighten the regulation of business loans to prevent them from illegally flowing into the property market. BEIJING, March 26 (Xinhua) — Chinese authorities moved Friday to tighten the regulation of business loans to prevent them from illegally flowing into the property market. Banking financial institutions should be stricter on verifying the qualifications of business-loan borrowers, according to a document jointly issued by the China Banking and Insurance Regulatory Commission, the Ministry of Housing and Urban-Rural Development and the People’s Bank of China. Enterprises without any actual business should not be granted business loans, while new enterprises that have been established or received equity rights for less than a year, as well as borrowers who have been in possession of a mortgaged property for less than a year, should undergo more stringent examination, the document said. Banking financial institutions are instructed ...

Abstract : China Life Insurance Company Limited, one of the country's biggest insurers, posted premium income growth in 2020. BEIJING, March 28 (Xinhua) — China Life Insurance Company Limited, one of the country’s biggest insurers, posted premium income growth in 2020. The company’s premium income totaled approximately 604.67 billion yuan (about 92.49 billion U.S. dollars) last year, up 7.9 percent year on year, said the insurer in a statement filed with the Shanghai Stock Exchange. In breakdown, its premium income from life insurance, health insurance and accident insurance schemes rose 7.6 percent, 9.6 percent and 6.6 percent, respectively. The insurer’s net profit attributable to shareholders topped 50.26 billion yuan in 2020. 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,includes BRI Policy,BRI Trade,BRI Investment,Belt and ...

Abstract : Shanghai residents who plan to buy new houses need to calculate their scores first and check whether they are eligible for a lottery system. The seemingly complicated rules rolled out in Shanghai recently can effectively ensure houses in this megacity be allocated to families with rigid needs. SHANGHAI, March 26 (Xinhua) — Shanghai residents who plan to buy new houses need to calculate their scores first and check whether they are eligible for a lottery system. The seemingly complicated rules rolled out in Shanghai recently can effectively ensure houses in this megacity be allocated to families with rigid needs. Under the principle that housing is for living in, not for speculation, real estate control measures across China are gradually evolving to tackle housing problems in big cities. In early February, Shanghai started to explore a score-based lottery system for housing sales, firstly satisfying families without housing as buyers far exceed the number of units on sal...