Global-China Information Service

Abstract : The purchasing managers' index (PMI) for China's manufacturing sector came in at 51 in May, slightly down from 51.1 in April, data from the National Bureau of Statistics showed Monday. BEIJING, May 31 (Xinhua) — The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 51 in May, slightly down from 51.1 in April, data from the National Bureau of Statistics showed Monday. A reading above 50 indicates expansion, while a reading below reflects contraction. The May PMI remained in expansion zone, indicating that the country’s manufacturing sector continued its steady growth, the data showed. The sub-index for production stood at 52.7 in May, up 0.5 percentage points from April, signaling a faster pace of recovery in the sector. The sub-indexes for new orders and raw material inventory slid to 51.3 and 47.7, respectively. The sub-index for new export orders edged down from 50.4 in April to 48.3, while that for import rose from 50.6 to 50.9. ...

Abstract : The Industrial and Commercial Bank of China (ICBC) underwrote 300 bonds of various types as the lead underwriter in the first quarter to provide funding support to the real economy. BEIJING, May 30 (Xinhua) — The Industrial and Commercial Bank of China (ICBC) underwrote 300 bonds of various types as the lead underwriter in the first quarter to provide funding support to the real economy. The bonds have a total value of over 360 billion yuan (about 56.34 billion U.S. dollars), the highest such figure in the market. In supporting the green economy, ICBC served as the lead underwriter of the first batch of “carbon neutrality” green bonds in China, to help realize the goals of achieving peak carbon emissions and carbon neutrality, the lender said in a statement. In the first quarter, ICBC completed the underwriting of six “carbon neutrality” green bonds, with over 30 billion yuan raised for issuers. In supporting rural vitalization, ICBC underwrote the first rural vitaliza...

Abstract : China's inclusive loans to micro and small enterprises rose by 32.5 percent year on year at the end of April amid the country's targeted support for enterprises hard hit by COVID-19. BEIJING, May 29 (Xinhua) — China’s inclusive loans to micro and small enterprises rose by 32.5 percent year on year at the end of April amid the country’s targeted support for enterprises hard hit by COVID-19 . Outstanding inclusive loans to micro and small businesses totaled 16.8 trillion yuan (about 2.63 trillion U.S. dollars) at the end of April, up by 32.5 percent year on year. These loans supported 36.27 million firms, up by 28.9 percent year on year, Zhu Zhaowen, an official with the People’s Bank of China, told a press conference Friday. Since the beginning of 2021, the bank has worked with relevant departments to strengthen financial support for sectors including foreign trade , culture and tourism, offline sales, accommodation and catering, and transport, which were hit ha...

Abstract : The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 55.2 in May, up 0.3 percentage points from the April figure, the National Bureau of Statistics said Monday. BEIJING, May 31 (Xinhua) — The purchasing managers’ index (PMI) for China’s non-manufacturing sector came in at 55.2 in May, up 0.3 percentage points from the April figure, the National Bureau of Statistics (NBS) said Monday. A reading above 50 indicates expansion, while a reading below reflects contraction. The expansion reflects a faster recovery in the services sector as epidemic control efforts paid off and consumption demand continued to increase boosted by the Labor Day holiday, said NBS senior statistician Zhao Qinghe. In May, the sub-index for business activities in the services sector stood at 54.3, down 0.1 percentage points from that in April. In breakdown, the sub-indexes for business activities in railway and air transportation, accommodation, telecommunicati...

Abstract : Chinese State Councilor and Foreign Minister Wang Yi on Saturday held talks with his Polish counterpart Zbigniew Rau in Guiyang, southwestern China's Guizhou Province. Chinese State Councilor and Foreign Minister Wang Yi holds talks with Polish Foreign Minister Zbigniew Rau in Guiyang, southwest China’s Guizhou Province, May 29, 2021. (Xinhua/Yang Wenbin) GUIYANG, May 29 (Xinhua) — Chinese State Councilor and Foreign Minister Wang Yi on Saturday held talks with his Polish counterpart Zbigniew Rau in Guiyang, southwestern China’s Guizhou Province. Wang said that the sudden outbreak of the epidemic has not interrupted the major diplomatic agenda of the two sides, nor stopped the pace of exchanges and cooperation between the two countries. He noted that China attaches great importance to Poland ‘s international and regional influence and is willing to view China-Poland relations from a strategic and long-term perspective. Wang stressed that the Chinese side adheres...

Abstract : China will be at the heart of the climate business boom, said Deborah Lehr, vice chairman and executive director of the Paulson Institute, at the International Finance Forum on Sunday. BEIJING, May 30 (Xinhua) — China will be at the heart of the climate business boom, said Deborah Lehr, vice chairman and executive director of the Paulson Institute, at the International Finance Forum on Sunday. The scale of China’s emissions creates opportunities, and the country is becoming a leader in innovative green finance, Lehr explained. She hailed the upcoming launch of China’s carbon exchange, noting that with just one industry, it will cover not only about 45 percent of China’s own carbon emissions but 14 percent of global emissions. China is planning to start online transactions in the national carbon market by the end of next month, the country’s environment ministry spokesperson told a regular press conference this week. When the eight other polluting industries are added t...

Abstract : Cargo throughput at China's ports posted stable growth in April as the country's foreign trade continued robust expansion, data from the Ministry of Transport shows. BEIJING, May 30 (Xinhua) — Cargo throughput at China’s ports posted stable growth in April as the country’s foreign trade continued robust expansion, data from the Ministry of Transport shows. Last month, China’s ports handled 1.32 billion tonnes of cargo, up 10.9 percent year on year, according to the ministry. The April cargo throughput rose 15.5 percent from the same period in 2019. The country’s container throughput at ports climbed 14.8 percent from the previous year to 23.71 million twenty-foot equivalent units, the ministry said. 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 Road week...

Abstract : The 10th China Flower Expo opened in Shanghai on Friday, welcoming over 20,000 visitors on its first day. Photo taken on May 21, 2021 shows an exhibit displayed at the 10th China Flower Expo in Chongming District, east China’s Shanghai. The 10th China Flower Expo, which covers a total area of 589 hectares, kicked off here on Friday and is expected to conclude on July 2. (Xinhua/Ding Ting) SHANGHAI, May 21 (Xinhua) — The 10th China Flower Expo opened in Shanghai on Friday, welcoming over 20,000 visitors on its first day. The expo, held to showcase the development of China’s flower industry, will last until July 2. A total of 180 outdoor exhibition zones and 64 indoor areas have been set up at the expo park in the city’s Chongming District. The expo park opens from 9 a.m. to 9 p.m. every day, and night performances such as light shows, drone performances, and parades will be staged, weather permitting. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.co...

Abstract : China's fixed-asset investment in the transport sector dropped 5 percent year on year in April, showed official data released Thursday. Aerial photo taken on Jan. 28, 2021 shows a section of the Lhasa-Nagqu high-grade highway (R) and the Qinghai-Tibet railway in southwest China’s Tibet Autonomous Region. (Xinhua/Jigme Dorje) BEIJING, May 27 (Xinhua) — China’s fixed-asset investment in the transport sector dropped 5 percent year on year in April, showed official data released Thursday. The transport sector’s fixed-asset investment totaled 285 billion yuan (about 44.51 billion U.S. dollars) last month, according to the Ministry of Transport. Attributing the decline to a relatively high base in April 2020, the ministry said that the April investment figure represented a 13.2-percent increase from the same period in 2019. Specifically, the investment in highway and waterway constructions amounted to 220.4 billion yuan in April, down 1.2 percent year on year and risi...

Abstract : Trade volume between Cambodia and China was valued at 3 billion U.S. dollars in the first four months of 2021, up 19.7 percent over the same period last year, according to a Cambodian Ministry of Commerce's report on Wednesday. PHNOM PENH, May 26 (Xinhua) — Trade volume between Cambodia and China was valued at 3 billion U.S. dollars in the first four months of 2021, up 19.7 percent over the same period last year, according to a Cambodian Ministry of Commerce’s report on Wednesday. Cambodia’s export to China reached 424 million dollars during the January-April period this year, up 42 percent, while its import from China was 2.58 billion dollars, up 16.7 percent, the report said. Main items the Southeast Asian nation exported to China are milled rice, banana, dry rubber, cassava, fishery and apparels, as it imported from China mostly garment raw materials, machinery, vehicles, foodstuffs, electronics, medicines and cosmetics, among others. Early this month, the kin...

Abstract : The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 172 pips to 6.3858 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System. BEIJING, May 28 (Xinhua) — The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 172 pips to 6.3858 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. 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...

Abstract : China's non-financial outbound direct investment (ODI) went down 5.2 percent year on year in the first four months of the year, official data showed Thursday. China’s non-financial outbound direct investment (ODI) went down 5.2 percent year on year in the first four months of the year. (Xinhua) BEIJING, May 27 (Xinhua) — China’s non-financial outbound direct investment (ODI) went down 5.2 percent year on year in the first four months of the year, official data showed Thursday. The ODI amounted to 222.87 billion yuan (about 34.3 billion U.S. dollars) in the period, according to the Ministry of Commerce. China’s investment cooperation with countries participating in the Belt and Road Initiative made progress. During the period, investment into these countries expanded 14 percent year on year to 5.96 billion dollars, accounting for 17.4 percent of the total, or up 1.8 percentage points from the same period last year. Outbound investment into manufacturing and in...

Abstract : Apple Inc. has officially put its first Chinese data center in the southwestern province of Guizhou into operation this week, local authorities said on Thursday. GUIYANG, May 27 (Xinhua) — Apple Inc. has officially put its first Chinese data center in the southwestern province of Guizhou into operation this week, local authorities said on Thursday. The data center, jointly built by Apple and Guizhou-Cloud Big Data Industry Co., Ltd. in Gui’an New Area, commenced operation on Tuesday, according to the new area’s administrative committee. In 2017, Apple signed an agreement with the Guizhou provincial government to build its first Chinese data center in Gui’an New Area. With a contracted investment of 1 billion U.S. dollars, the data center plans to offer iCloud services on the Chinese mainland. The data center is expected to further improve Chinese users’ experience in terms of access speed and service reliability, as well as improve the overall reliability of Apple’s pr...

Abstract : China's top market watchdog Thursday imposed a maximum-level fine on the operator of community group-buying platform Nice Tuan over improper pricing that disrupted the market order. BEIJING, May 27 (Xinhua) — China’s top market watchdog Thursday imposed a maximum-level fine on the operator of community group-buying platform Nice Tuan over improper pricing that disrupted the market order. The State Administration for Market Regulation required the company to pay a fine of 1.5 million yuan (about 234,265 U.S. dollars) and stop its business for three days in Jiangsu Province and implement rectifications. According to the regulator, the platform dumped products at prices below cost to squeeze out competitors, disrupting the normal order of production and operation and damaging the legitimate rights and interests of other market players. It also harmed the interests of consumers by luring them with false or misleading pricing practices, said the administration. In Mar...

Abstract : With news of achievements pouring in these days, China is pushing forward its deep space exploration, aiming to contribute its wisdom in humankind's peaceful utilization of outer space. The Long March-5B Y2 rocket, carrying the Tianhe module, blasts off from the Wenchang Spacecraft Launch Site in south China’s Hainan Province, April 29, 2021. (Xinhua/Ju Zhenhua) BEIJING, May 27 (Xinhua) — With news of achievements pouring in these days, China is pushing forward its deep space exploration, aiming to contribute its wisdom in humankind’s peaceful utilization of outer space. SPACE STATION CONSTRUCTION On April 29, China sent into space the core module of its space station, kicking off a series of key launch missions that aim to complete the construction of the station by the end of next year. The successful launch of the Tianhe module marks that China’s space station construction has entered the full implementation stage, which lays a solid foundation for the follow-u...

Abstract : China's commerce ministry on Thursday said it would guide the regional headquarters of multinationals to gather on the southern island province of Hainan to push the construction of the Hainan free trade port (FTP). Aerial photo taken on May 4, 2021 shows the city view of Haikou, the capital of south China’s Hainan Province. (Xinhua/Zhang Liyun) BEIJING, May 27 (Xinhua) — China’s commerce ministry on Thursday said it would guide the regional headquarters of multinationals to gather on the southern island province of Hainan to push the construction of the Hainan free trade port (FTP). “Existing opening-up measures on fostering investment will be well implemented. Regional headquarters of multinational companies will also be guided to the Hainan FTP,” Gao Feng, a spokesperson with the Ministry of Commerce, told a press conference. Notable progress has been made since the country released a master plan last June to build the island into a globally influential and ...

Abstract : Chinese tech giant Tencent confirmed Thursday that it has completed an investment of 15 million euros (18.3 million U.S. dollars) in Italian fintech startup Satispay in efforts to tap into Europe's growing mobile payment market. A journalist experiences Wechat Pay, Tencent’s mobile payment tool, at a 7-Eleven convenience store in Hong Kong, south China, Aug. 14, 2017. (Xinhua/Wang Xi) SHENZHEN, May 27 (Xinhua) — Chinese tech giant Tencent confirmed Thursday that it has completed an investment of 15 million euros (18.3 million U.S. dollars) in Italian fintech startup Satispay in efforts to tap into Europe’s growing mobile payment market. The investment was finalized after the Italian government gave the official go-ahead in February, the Shenzhen-headquartered company told Xinhua. Tencent said it has invested in Satispay on account of the latter’s rapidly growing business and the bullish long-term prospect of mobile payment in Europe. Tencent will support Satispa...

Abstract : Profits of China's major industrial companies saw accelerated growth in the first four months of this year as the country's economic recovery is further consolidated, official data showed on Thursday. Workers assemble diesel engines at a workshop of the Weichai Group in Weifang, east China’s Shandong province, April 22, 2021. Profits of China’s major industrial companies saw accelerated growth in the first four months of this year as the country’s economic recovery is further consolidated, official data showed on Thursday. Industrial firms with an annual business revenue of at least 20 million yuan (about 3.12 million U.S. dollars) saw their combined profits surge 106 percent year on year in the January-April period to over 2.59 trillion yuan, data from the National Bureau of Statistics (NBS) showed. (Xinhua/Guo Xulei) BEIJING, May 27 (Xinhua) — Profits of China’s major industrial companies saw accelerated growth in the first four months of this year as the count...

Abstract : A senior Irish official said on Thursday that his ambition is to cement and further develop the trade relations with China in the coming years. DUBLIN, May 27 (Xinhua) — A senior Irish official said on Thursday that his ambition is to cement and further develop the trade relations with China in the coming years. Martin Heydon, Irish Minister of State at the Department of Agriculture, Food and the Marine, made the remarks while addressing a video conference on China- Ireland business ties. Heydon said that China was the 4th largest agrifood export market for Ireland in 2020 and Irish food exports to China have averaged almost 900 million euros (about 1.08 billion U.S. dollars) annually for the last five years. “China is our second most important export market for both dairy and pigmeat sectors,” he said, adding that growing a diversified and established market for Irish agrifood exports remains a priority for his department as well as for him as a minister with respo...

Abstract : The value of industries related to China's homegrown BeiDou Navigation Satellite System (BDS) is estimated to exceed 1 trillion yuan (about 156.4 billion U.S. dollars) by 2025, said an official with the country's satellite navigation administration. Visitors learn about an unmanned driving system based on the BeiDou Navigation Satellite System at an exhibition featuring satellite navigation achievements during the 12th China Satellite Navigation Conference (CSNC 2021) in Nanchang, capital of east China’s Jiangxi Province, May 26, 2021. (Xinhua/Peng Zhaozhi) NANCHANG, May 26 (Xinhua) — The value of industries related to China’s homegrown BeiDou Navigation Satellite System (BDS) is estimated to exceed 1 trillion yuan (about 156.4 billion U.S. dollars) by 2025, said an official with the country’s satellite navigation administration. The figure was revealed by Yang Jun, deputy director of China’s Satellite Navigation System Management Office, at the three-day 12th C...

Abstract : An intelligent production base for recycling railway materials went into operation Wednesday in Ma'anshan City, east China's Anhui Province, greatly enhancing the efficiency of recycling railway scrap. HEFEI, May 26 (Xinhua) — An intelligent production base for recycling railway materials went into operation Wednesday in Ma’anshan City, east China’s Anhui Province, greatly enhancing the efficiency of recycling railway scrap. With three automatic production lines, the facility can dismantle 4,000 scrapped locomotives, and freight and passenger coaches, and dispose of 125,000 tonnes of scrapped steel rails and 58,000 tonnes of scrap metal a year. Robots are used in the detection, cutting, and transport of such scrap railway materials while advanced technologies including 5G, big data and cloud computing are applied to establish a traceability system and achieve full life cycle management of the products. “A scrap freight wagon can be dismantled automatically by ro...

Abstract : The Guangdong-Hong Kong-Macao Greater Bay Area launched its first freight-train route to ASEAN countries on Tuesday. Photo provided by Sinotrans Ltd. shows a freight train departing from Guangzhou, capital of south China’s Guangdong Province, which is bound for Hanoi, the Vietnamese capital, on May 25, 2021. (Xinhua) GUANGZHOU, May 25 (Xinhua) — The Guangdong-Hong Kong-Macao Greater Bay Area launched its first freight-train route to ASEAN countries on Tuesday. A freight train loaded with goods worth about 94,400 U.S. dollars departed from Guangzhou, capital of south China’s Guangdong Province, on Tuesday. The train will take about four days to reach its destination, the Vietnamese capital Hanoi. Sinotrans Ltd., one of the route’s operators, regards the international freight-train service as an important channel to ensure the smooth operation of the global supply chain during the COVID-19 pandemic. In 2020 alone, the company conducted 1,580 freight-trai...

Abstract : The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 69 pips to 6.4030 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System. BEIJING, May 27 (Xinhua) — The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 69 pips to 6.4030 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. 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 a...

Abstract : The China-Russia comprehensive strategic partnership of coordination for the new era has grown as solid as a rock through thick and thin, Chinese Foreign Ministry spokesperson Zhao Lijian said on Tuesday. BEIJING, May 25 (Xinhua) — The China-Russia comprehensive strategic partnership of coordination for the new era has grown as solid as a rock through thick and thin, Chinese Foreign Ministry spokesperson Zhao Lijian said on Tuesday. Zhao made the remarks when asked to comment on Russian Foreign Minister Sergei Lavrov’s remarks on bilateral relations. According to reports, in response to a question on whether Moscow and Beijing would strike an alliance against the United States, Lavrov said in an interview that Moscow and Beijing are satisfied with the existing format of cooperation at this stage. He said bilateral relations with China are better than ever, largely due to the fact that the existing model of bilateral relations surpasses the level of interaction ...

Abstract : French maritime transport company CMA CGM Group on Wednesday took delivery of a mega dual-powered container ship manufactured by China's Jiangnan Shipyard in Shanghai. SHANGHAI, May 26 (Xinhua) — French maritime transport company CMA CGM Group on Wednesday took delivery of a mega dual-powered container ship manufactured by China’s Jiangnan Shipyard in Shanghai. The container ship named CMA CGM Trocadero measures 399.9 meters in length and 61.3 meters in width, and comes with a maximum capacity of 23,000 twenty-foot equivalent units (TEU). It boasts a speed of 22 knots and can transport nearly 220,000 tonnes of goods. According to Zhang Xuanhui, deputy chief designer of the project, the ship is mainly powered by liquefied natural gas, which can cut carbon emission by 20 percent, nitrogen oxides emission by 85 percent, and sulfur emission by 99 percent in comparison with container vessels powered by fuel oil. Positioned on an Asia-Europe line, the ship will set sail t...

Abstract : Mongolia on Wednesday received supplies donated by the Chinese government to fight the COVID-19 pandemic at an online handover ceremony. ULAN BATOR, May 26 (Xinhua) — Mongolia on Wednesday received supplies donated by the Chinese government to fight the COVID-19 pandemic at an online handover ceremony. Officials from the two sides attended the online handover ceremony. The mutual support and assistance of the two peoples in their joint fight against COVID-19 is a reflection of China-Mongolia friendly relations, said Mongolian Health Minister Sereejav Enkhbold, who attended the ceremony. The Chinese government’s assistance to Mongolia, including vaccines, has played an important role in Mongolia’s fight against COVID-19, he noted. Chinese Ambassador to Mongolia Chai Wenrui said that the two peoples’ joint fight against the virus serves as a model for international anti-epidemic cooperation. China will continue to uphold the concept of building a community with a sh...

Abstract : Profits of China's major industrial companies saw accelerated growth in the first four months of this year as the country's economic recovery further firms up, official data showed Thursday. Robotic arms assemble engines on an assembly line at a workshop of the Weichai Power Co., Ltd. in Weifang City, east China’s Shandong Province, April 22, 2021. (Xinhua/Guo Xulei) BEIJING, May 27 (Xinhua) — Profits of China’s major industrial companies saw accelerated growth in the first four months of this year as the country’s economic recovery further firms up, official data showed Thursday. Industrial firms with an annual business revenue of at least 20 million yuan (about 3.12 million U.S. dollars) saw their combined profits surge 106 percent year on year in the January-April period to over 2.59 trillion yuan, data from the National Bureau of Statistics (NBS) showed. When compared with the first four months of 2019, the figure represented a rise of 49.6 percent. The ave...

Abstract : The Nasdaq-listed Chinese e-commerce platform Pinduoduo Inc. posted 239-percent year-on-year revenue growth in the first quarter (Q1) of this year. SHANGHAI, May 27 (Xinhua) — The Nasdaq-listed Chinese e-commerce platform Pinduoduo Inc. posted 239-percent year-on-year revenue growth in the first quarter (Q1) of this year. Total revenue in the quarter ending March 31 topped 22.16 billion yuan (about 3.47 billion U.S. dollars), according to unaudited financial results for Q1 released Wednesday. The revenue spike was mainly due to the strong growth of online marketing technology services revenue. In Q1, the platform’s revenue from online marketing technology services was 14.11 billion yuan, up by 157 percent from a year earlier. The company also saw a Non-GAAP net loss of 1.89 billion yuan in Q1, significantly narrower than that of 3.17 billion yuan in the same period in 2020. The number of annual active buyers reached 823.8 million as of March 31, a net increase of 195.7...

Abstract : The Sri Lankan government has received another batch of Sinopharm COVID-19 vaccines donated by the Chinese government as the island country looks to vaccinate its citizens against the virus. COLOMBO, May 26 (Xinhua) — The Sri Lanka n government has received another batch of Sinopharm COVID-19 vaccines donated by the Chinese government as the island country looks to vaccinate its citizens against the virus. The vaccines which arrived at the Bandaranaike International Airport Tuesday night from Beijing were received by Chinese Ambassador to Sri Lanka Qi Zhenhong and handed over to Sri Lanka’s Health Minister Pavithra Wanniarachchi. This shipment of vaccines was the second batch to arrive in Sri Lanka as aid from China. In March, China donated a batch of Sinopharm vaccines to the Sri Lankan government. Speaking at the handover ceremony, Wanniarachchi thanked China for the valuable donation. She said this donation of vaccines was extremely valuable for the island countr...

Abstract : China has taken a global lead in the development of 5G, with a total of 819,000 5G base stations built so far, accounting for over 70 percent of the world's total, a government official said here Wednesday. A visitor (1st R) tries 5G-powered sports equipment during the China International Big Data Industry Expo 2021 in Guiyang, southwest China’s Guizhou Province, May 26, 2021. (Xinhua/Yang Wenbin) GUIYANG, May 26 (Xinhua) — China has taken a global lead in the development of 5G, with a total of 819,000 5G base stations built so far, accounting for over 70 percent of the world’s total, a government official said here Wednesday. Liu Liehong, vice minister of industry and information technology, released the figures at the ongoing China International Big Data Industry Expo 2021 in Guiyang, capital of southwest China’s Guizhou Province. The number of 5G terminal connections in China has exceeded 310 million, accounting for more than 80 percent of the world’s total, acc...

Abstract : China's national e-government platform, www.gjzwfw.gov.cn, had 809 million registered users by the end of 2020, said a report released by the Party School of the Communist Party of China (CPC) Central Committee Wednesday. Photo taken on May 28, 2020 shows an administrative service center offering one-stop e-government service in Wujiang District of Suzhou, east China’s Jiangsu Province. (Xinhua/Li Bo) BEIJING, May 26 (Xinhua) — China’s national e-government platform, www.gjzwfw.gov.cn, had 809 million registered users by the end of 2020, said a report released by the Party School of the Communist Party of China (CPC) Central Committee Wednesday. In a total of 30 provincial-level regions, the platform has incorporated government services down to the village level, said the report released by the e-government research center of the party school. It evaluated the integrated e-government performance of provincial-level regions and major cities. With the development o...

Abstract : The Industrial and Commercial Bank of China (ICBC) and Goldman Sachs Asset Management will cooperate to set up a joint venture on wealth management, according to a recent announcement. File photo shows the exterior view of Shanghai Stock Exchange at Pudong New Area in Shanghai, east China. (Xinhua) BEIJING, May 26 (Xinhua) — The Industrial and Commercial Bank of China (ICBC) and Goldman Sachs Asset Management will cooperate to set up a joint venture on wealth management, according to a recent announcement. Goldman Sachs Asset Management will hold a 51-percent stake in the venture, while the wealth management unit of ICBC will own 49 percent, China’s largest commercial lender ICBC said Tuesday. The plan has been approved by the China Banking and Insurance Regulatory Commission (CBIRC), and will offer a broad range of asset management products to investors, ICBC added. This is the fourth joint venture of its kind that has been approved by the CBIRC, following similar mo...

Abstract : Faced with recent price hikes in bulk commodities, China is ratcheting up regulatory efforts to fend off rising raw material costs and stabilize the market. Aerial photo taken on Sept. 24, 2020 shows staff members sampling iron ore powder at Dalian port in northeast China’s Liaoning Province. (Xinhua/Yao Jianfeng) BEIJING, May 26 (Xinhua) — Faced with recent price hikes in bulk commodities, China is ratcheting up regulatory efforts to fend off rising raw material costs and stabilize the market. Since the start of this year, the world’s largest metal consumer has registered record-high prices for some bulk commodities. Its producer price index , indicating costs of goods at the factory gate, rose by 6.8 percent year on year in April, a new high over the past three years. With the booming prices sparking concerns over cost pressure on downstream companies, the country has tailored measures to ease supply-demand imbalance and ramp up market regulations to root out behavio...

Abstract : Chinese Vice Premier Liu He, a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue, held a phone conversation with U.S. Trade Representative Katherine Tai on Thursday morning. Photo taken on Sept. 24, 2015 shows the national flags of China (R) and the United States as well as the flag of Washington D.C. on the Constitution Avenue in Washington, capital of the United States. (Xinhua/Bao Dandan) BEIJING, May 27 (Xinhua) — Chinese Vice Premier Liu He, a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue, held a phone conversation with U.S. Trade Representative Katherine Tai on Thursday morning. The two sides held candid, practical and constructive exchanges in the spirit of equality and mutual respect. The two sides agreed that developing bilateral trade...

Abstract : China will relax rules for foreign investment, increasing its market appeal to global investors and signaling its determination to deepen opening up. Aerial photo taken on April 19, 2017 shows the pilot free trade zone in Wuhan City, capital of central China’s Hubei Province. (Xinhua/Xiong Qi) BEIJING, May 26 (Xinhua) — China will relax rules for foreign investment , increasing its market appeal to global investors and signaling its determination to deepen opening up. The country’s Ministry of Commerce (MOC) has made public its plan for formulating regulations and laws in 2021, putting on agenda the revision of the guideline on foreign strategic investment in Chinese listed firms. The revision seeks to “ease restrictions on foreign strategic investment, and introduce innovative supervision approaches for the sector,” the MOC said in a recent online statement. The move came as the guideline, which was issued 15 years ago, cannot satisfy the current demand of foreig...

Abstract : China has accelerated its pace of quantum research and talent cultivation in this frontier science, with the launch of the new Quantum Information Program at Tsinghua University as the latest example. Photo taken on May 24, 2021 shows the launch ceremony of the Quantum Information Program at Tsinghua University in Beijing. (Xinhua/Wei Mengjia) BEIJING, May 25 (Xinhua) — China has accelerated its pace of quantum research and talent cultivation in this frontier science, with the launch of the new Quantum Information Program at Tsinghua University as the latest example. Tsinghua on Monday announced the establishment of the quantum information program, led by Turing Award winner Andrew Chi-Chih Yao as chief professor. It is the third talent training program initiated at Tsinghua by the renowned computer scientist, after his computer science experimental program and artificial intelligence program. It will offer courses on a range of topics, including quantum comput...