Expanded free trade zone to have global influence

Shanghai will coordinate with state-level authorities to draft and implement plans for an expansion of the city’s free trade zone as one of the city government’s top priorities for the first quarter, Mayor Ying Yong. Companies in the new area will be given preferential policies to conduct offshore trading, offshore financing and digital trading. The […]

China sees steady trade growth in 2019

China’s foreign trade in goods surged faster than expected to a record high last year and the outlook remains positive against a backdrop of further opening-up and supportive government policies, the Ministry of Commerce said on Tuesday. China, the world’s second largest economy, is the world’s largest trader in goods and total imports and exports […]

Singapore is building a city in China for up to 500,000 people

CNBC’s Uptin Saiidi visits Sino-Singapore Guangzhou Knowledge City, a joint partnership between China and Singapore which aims to convert farmlands into a modern-day city. SOURCE: CNBC (10)

Didi sets up JV to focus on new energy vehicles and AI

Didi Chuxing said it has entered into a joint venture with an affiliate of state-owned auto holding company BAIC Group, with a focus on projects including new energy vehicles and artificial intelligence. The two parties are seeking to design and produce customised vehicles especially for ride-sharing to enhance the experience of users and drivers. Read […]

China’s using artificial intelligence to lead in the biotech space

Image – Genomic Knowledge Base – courtesy WUXI NextCODE By Charles F. Moreira, Editor China aims to take the lead in AI (artificial intelligence) and biotech development according to an article in Axios.com on 3 December 2018, by Eleonore Pauwels, a research fellow on emerging cyber-technologies at UN University’s Centre for Policy Research, focusing on […]

Fiscal spending and more tax cuts to ensure steady growth

China will step up fiscal spending this year to support its economy, focusing on further cuts in taxes and fees for small companies, finance ministry officials announced yesterday. China’s fiscal spending rose 8.7 percent to a record high of 22.1 trillion yuan (US$3.3 trillion) in 2018, while revenue increased 6.2 percent to 18.3 trillion yuan, […]

China’s economy grew 6.6 percent in 2018

China’s economy grew 6.6 percent year on year in 2018, beating the official annual target of around 6.5 percent, data from the National Bureau of Statistics (NBS) showed. The country’s gross domestic product (GDP) hit 90.03 trillion yuan (about 13.32 trillion U.S. dollars) in 2018. The following are a group of facts and figures released […]

City grants first licenses for individual online stores

China’s first e-commerce law, effective from January, rules that e-commerce businesses need to register as business entities. However, individual online shop operators could not get an operation license because they don’t have bricks-and-mortar stores, the Shanghai Market Supervision and Management Bureau said. They could not conduct business operations if they failed to register, according to […]

China’s outbound direct investment grew steadily in 2018

China’s outbound direct investment grew steadily in 2018, up 4.2 percent year on year to US$129.83 billion. Financial outbound direct investment totalled US$9.33 billion, skyrocketing by 105.1 percent from a year earlier, and non-financial ODI grew 0.3 percent year on year to US$120.5 billion, according to data from the Ministry of Commerce and the Foreign […]

Geely recalls vehicles for defective fuel pumps

China’s Geely Holding Group has applied to recall 89,657 vehicles due to defective fuel pumps, the country’s market regulator has said. The State Administration for Market Regulation said in a statement that ZGH and Zhejiang Haoqing Automobile Manufacture Co, a unit of ZGH, have decided to recall a total of 42,216 vehicles of Geely Vision […]


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