China leads the world in clean energy

Workers check equipment at a wind farm in Shanxi province. [Photo/Xinhua] China’s energy revolution is sparking a swifter global transition to clean power, according to a new study, meaning that, in two decades, the world could generate 40 percent of its power from renewable resources. Fatih Birol, executive director of the International Energy Agency, a Paris-based… Read more

World’s Coolest Library Opens in China and It’s Breathtaking

Book lovers, pack your bags – one of the coolest libraries in the world has just opened up in China and it is absolutely gorgeous. The Tianjin Binhai Library, also called “The Eye of Benhai” because of its mirrored spherical centerpiece depicted above, has opened up in the Binhai Cultural District of Tianjin earlier this month.… Read more

US, Chinese firms sign $9bn in deals during Trump visit

US and Chinese companies signed nearly 20 deals worth a total $9 billion on Wednesday at the start of President Donald Trump’s state visit to Beijing. US Commerce Secretary Wilbur Ross and Chinese Vice Premier Wang Yang oversaw a signing ceremony at the Great Hall of the People but they did not immediately give details about… Read more

‘My god, 3.5 hours’: Xi gives marathon speech, China listens

As Chinese leader Xi Jinping delivered his three-plus-hour speech at the Communist Party congress, delegates ranging from men in suits to military officers and former presidents dutifully turned every page as they read and listened to his words. On the internet, government bureaus peppered social media with their favourite phrases from Xi’s speech, while photos circulated… Read more

World’s most powerful computer will boost nation, scientist says

China is developing and building the Tianhe-3, the world’s first exascale supercomputer, a leading scientist said. When completed it will be capable of a quintillion (a billion, billion or 1 followed by 18 zeros) calculations per second. It will be 10 times faster the current world leader, China’s Sunway TaihuLight, and will “become an important platform… Read more

How one city plans to steer residents away from driving

Countries from the UK to China are rolling out extraordinary plans to eliminate fossil-fuel-guzzling automobiles. But one Nordic capital city is mixing tech and urban planning to make sure citizens do not need a car at all. Finland’s capital Helsinki is growing quickly as it attracts labor from the countryside and overseas. Instead of building more… Read more

China to double target of new energy cars

A man charges an electric car at an electric-car rental service bay in Liuzhou, Guangxi province, July 31, 2017. [Photo/VCG] China will double its new energy cars development goal by 2020 as it reaches its target ahead of schedule. Cai Tuanjie, an official of the China’s Ministry of Transport said, the number of new energy cars… Read more

Maritime Silk Road expo sees strong growth

The 2017 Guangdong 21st Century Maritime Silk Road International Expo, also known as the MSR Expo, held in Dongguan, Guangdong province, from Thursday to Sunday, attracted some 251,000 domestic and foreign participants. According to the organizers, contracts worth 219 billion yuan ($33.23 billion) were signed at the event. The expo hosted delegations from 79 countries and… Read more

China’s top ride-sharing company calls for building cities around people

Jean Liu, president of Didi Chuxing, speaks during the Bloomberg Global Business Forum in New York on Sept 20, 2017.[Photo/VCG] NEW YORK – Future cities should be built around people, not machines, said Jean Liu, president of Didi Chuxing, a top Chinese ride-sharing company. Cities should empower people rather than stress them out, and should have… Read more

Automakers put new-energy cars in fast lane at Frankfurt

A vehicle equipped with the Gazele 3 battery management system was among exhibits at the Frankfurt Motor Show connected to new energy technology. [Photo/China Daily] The enthusiasm of automakers for new-energy vehicles was strong at this year’s Frankfurt Motor Show, which is also known as 2017 IAA, as restrictions on gasoline vehicles becoming more prevalent and… Read more

Trump Blocks Chinese Takeover of US Computer Chip Company

President Donald Trump has blocked the acquisition of a U.S. computer chip manufacturer by a Chinese company, calling it a threat to national security. The Chinese-owned Canyon Bridge Fund has sought to take over Oregon-based Lattice Semiconductor Corp. The U.S. Treasury Department, acting under Trump’s orders, said Wednesday it is prohibiting the deal. It says the… Read more

China formulates national smart car industry strategy

TIANJIN – China is working on a national strategy on smart cars, and mulls banning production and sales of fossil fuel cars, according to policy makers attending a forum on automotive industry development. With the global auto industry leaning toward intelligent and electric vehicles, work has begun on a timetable to ban manufacture and sales of… Read more

China’s Alipay enters Norway

OSLO – China’s leading mobile and online payment service Alipay launched its operations in Norway on Monday to boost Chinese customers’ shopping experience in the Nordic country. “The adoption of Alipay services of both payment and marketing will not only enhance the experience of Chinese consumers but also help Norwegian businesses reach out to their Chinese… Read more

Young Taiwanese choose China jobs over politics

Taiwan has long seen its international allies switching allegiance to an ascendant Beijing, but now there are also fears of a brain drain of the island’s youth as they pursue careers in rival China. Cross-strait tensions have soared since China-sceptic Tsai Ing-wen took power last year, with Beijing cutting all official communication. China still sees the… Read more

China moves higher in global innovation index: report

BEIJING – China is steadily working its way toward a higher position on the world’s innovation index ranking, as a report released Friday placed it 17th on the index measuring innovation capability out of 40 major ranked countries. The national innovation index report 2016-2017 by the Chinese Academy of Science and Technology for Development (CASTED) shows… Read more

Chinese bike-sharing company ofo enters Seattle

TIANJIN — China’s bike-sharing company ofo has launched services in Seattle, after acquiring the permission from local authority, according to a company press release on Friday. A total of 1,000 of ofo’s signature yellow bikes will be placed on the American city’s streets, and the number is expected to grow to cater to the needs of… Read more

Rural areas to boost new energy sales

An electric vehicle by BAIC Group catches visitors’ eyes at an international new energy auto expo in Beijing. [Photo by CHEN XIAOGEN/CHINA DAILY] Shorter trips, better power access means low-tier markets have higher appetite for sector, Hao Yan reports. After a market wobble in 2016, new energy vehicle sales are predicted to ramp up by 51.8… Read more

China securities watchdog punishes market manipulators

Investors look at computer screens showing stock information at a brokerage in Shanghai, August 13, 2015.[Photo/Agencies] BEIJING – The Chinese securities watchdog has announced punishments for a market manipulation case. Que Wenbin, the controlling shareholder of pharmaceutical firm Hengkang Medical Group Co Ltd, conspired with an asset management company to drive up Hengkang shares and reduce… Read more

Alibaba enters China’s housing rental market

Two men chat beside a logo of Alibaba at its headquarters on the outskirts of Hangzhou, Zhejiang province. [Photo/Agencies] HANGZHOU – Chinese tech giant Alibaba has signed an agreement with its home city government to use the company’s technology to create an online system for house rentals. The system will cover apartments put up for rent… Read more

Time for the US and China to rethink perspectives on jobs and technology

Robots attract visitors at an industry expo in Beijing. CHEN XIAOGEN / FOR CHINA DAILY Technology and jobs, whither goest thou? Whether in China or the United States, it is time to pause and assess the very real impact of technology’s advances on those who will lose their jobs today as the so-called “jobs of tomorrow”… Read more

Sri Lanka to Sell to China a Majority Stake in Indian Ocean Port

Sri Lanka has signed a $1.1 billion deal with a Chinese company to sell a majority stake in a controversial deep port in a bid to slash debt, and says it has addressed concerns that China could use the port for military purposes. The deal was signed after months of renegotiation following strident opposition to the… Read more

Jaguar Land Rover to build SUV model in China

Ralf Speth, CEO of Jaguar Land Rover Plc, poses beside a Jaguar XE automobile at an auto expo.[Photo/Agencies] British automaker Jaguar Land Rover has announced it will build its new E-PACE compact SUV in Austria and China. The company said its plants in the United Kingdom are close to full capacity, and it expects there will… Read more

China Reducing Massive Influence of Social Media Celebrities

China is trying to contain the awesome influence of social media celebrities, some of whom have tens of millions of followers that dwarf more Western media icons like Oprah Winfrey. For example, the top 10 Chinese celebrities on Internet have between 67 million and 90 million online followers. Recent weeks have seen the closure of social… Read more

Cyberfriends set out to prove worth to shoppers

Going shopping, even in a giant mall, can be a breeze, if you have a personal shopping assistant who takes all the pain away-giving you advice on which clothes suit you, guiding you to the nearest toilet, letting you in on the best stores for discounts and even lugging around the shopping bags. Forget boyfriends, who… Read more

China tops the world in employment performance: Report

China tops the world in employment performance: Report China outperformed other countries in employment, a major factor in the country’s rising competitiveness rating, which has risen to 18 this year, according to the latest yearbook issued by the Lausanne Institute for Management Development (IMD) in Switzerland. The performance gain was attributed to the priority employment […]

Xi urges G20 to continue championing open world economy

BERLIN — Chinese President Xi Jinping said his country hopes that the Group of 20 (G20) major economies will continue to champion the building of an open world economy. Xi made the appeal in a signed article published Tuesday on mainstream German media before he travels to the European country for a state visit and the… Read more

British luxury smartphone maker to use Chinese chips

A Vertu Aster luxury smartphone sits on a table. [Photo/VCG] Vertu, one of the world’s leading manufacturers of luxury mobile phones, has announced that it has signed an agreement with TCL Communication. This is the first agreement signed by Vertu since the company was purchased by entrepreneur Hakan Uzan in mid-March of 2017. This agreement, worth… Read more

China leads the pack

A platform is used to collect combustible ice in the South China Sea recently. GUO JUNFENG/CHINA DAILY Editor’s note: In the run-up to the 19th Communist Party of China National Congress, China Daily will cover a series of key projects of national importance, showcasing the country’s huge improvement and relentless efforts in manufacturing upgrade and innovation.… Read more

China punishes irresponsible securities brokerage firm

BEIJING – China’s securities regulator has punished the Chongqing-based Southwest Securities for not exercising due diligence on the reorganization of two companies. Southwest Securities served as the independent financial adviser for the reorganization of Shenzhen-listed Anshan Heavy Duty Mining Machinery Co with Nine Top Group, an office service company based in East China’s Zhejiang province. The… Read more

Hong Kong named most competitiveness economy

Skyscrapers line the harbor in Hong Kong, on Feb 9, 2016. [Photo/Xinhua] Hong Kong was rated as the most competitive economy for the second year in a row, while the Chinese mainland jumped up seven places on the 2017 World Competitiveness Yearbook released on Thursday. The rankings published by the International Institute for Management Development in… Read more

Chinese customers prove loyal to domestic daily consumer goods

Chinese brands are dominating the fast moving consumer goods industry. According to the fifth annual Brand Footprint report from Kantar Worldpanel, Chinese brands have claimed 9 out of 10 places for fastest growing brands, with Yili retaining top spot. Mengniu moved up one place to second. While 2016 was a difficult year for the fast-moving consumer… Read more

China’s Cybersecurity Law May Be Bad News for Business

For years China has known that it has a cyber-security problem. On June 13, 2013, the U.S. whistleblower Edward Snowden gave an explosive interview to the South China Morning Post while he was in hiding in Hong Kong. The National Security Agency, Snowden said, had carried out 61,000 global hacking operations, including in Hong Kong and… Read more

Top 10 richest Chinese on New Fortune’s list

Half of China’s 10 richest people are in the technology, media and telecommunications industry. With a personal wealth of 179.43 billion yuan ($25.99 billion), Chinese property tycoon, Wanda Group’s chairman Wang Jianlin and his son Wang Sicong topped the 2017 New Fortune 500 rich list. Jack Ma, executive chairman of Alibaba Group, came in second place… Read more

Over 60 countries, regions to attend Eurasia expo in Xinjiang

URUMQI – More than 60 countries and regions will attend the 2017 (China) Eurasia Commodity and Trade Expo in Northwest China’s Xinjiang Uygur autonomous region in August, according to organizers. Among them are 36 countries along the Belt and Road. It is the first time for certain countries and regions to be present at the expo… Read more

VW teams up with JAC to make electric cars

Visitors watch cars on display at a booth of JAC Motors in Shanghai, April 20, 2017. [Photo/VCG] HEFEI – A joint venture between Volkswagen China and Anhui Jianghuai Automobile (JAC Motors) to make electric cars has been approved by Chinese authorities. JAC Motors said Monday that the venture, with a total investment of 5 billion yuan… Read more

China May Be Ditching Paper Money

Bitcoin is booming in Asian markets and mobile transactions are increasingly popular in industries where cash used to be king, like shopping abroad. The Chinese mobile payment platform Alipay announced this week its tap-and-go system soon will be compatible for shopping at more than 4 million American stores, strategically marketing to Chinese students and tourists in… Read more

Chinese college students: Should graduates launch startups?

Summer is the season for entrepreneurship, as millions of recent graduates hit the job market. A recent report on entrepreneurship among Chinese college students released by China’s Renmin University reveals the trend. Nearly 90 percent of the 430,000 students from 1,767 universities in 31 provinces surveyed say they’ve considered starting a business. More than 70 percent… Read more

Shanghai Disney to welcome 10m visitor

Mickey Mouse and other Disney characters entertain visitors at Shanghai Disney Resort.[Photo by Yin Liqin/For China Daily] Shanghai Disney Resort said it is ready to welcome its 10 millionth visitor, as the resort approaches its first anniversary on June 16. “In the next few days, Shanghai Disney Resort will welcome its 10 millionth guest,” said Robert… Read more

Internet-based economy boosts China’s GDP, creates jobs

Internet-based economy boosts China’s GDP, creates jobs People pass by the entrance of Wuzhen internet-enabled hospital in Jiaxing, Zhejiang province. LONG WEI / FOR CHINA DAILY Internet-enabled digital economy accounted for 30.6 percent of China’s GDP in 2016, according to the China Internet Plus and Digital Economy Index published in April. The segment has created […]

China to boost recycling industry for greener growth

BEIJING — Chinese authorities on Thursday released an action plan to boost the recycling industry amid government efforts to promote green and sustainable growth. By 2020, China aims to increase the output value of the resource recycling industry to 3 trillion yuan ($434.8 billion), a jump of 67 percent from the 2015 level, according to the… Read more

Chinese use mobile phones ‘for everything,’ says Mexican academic

Mobile phone users on a subway train in Nanjing, East China’s Jiangsu province, June 14, 2016. [Photo/VCG] MEXICO CITY – The Chinese people are using mobile phones to do so many things that go beyond their original functions, a Mexican academic who once lived in Shanghai has found. Adolfo Laborde, an expert in international relations and… Read more

Beijing gets big data center for tourism

A big data center to help the tourism industry has been set up in Beijing. The center jointly established by China CYTS Tours, a travel service provider, and TalkingData, a mobile data service platform, will analyze data like where travelers come from and study demographics. The high research cost and difficulties in precision marketing caused by… Read more

China-owned Volvo Cars’ first-quarter net profit rises 26 per cent

Stockholm (dpa) – China-owned Volvo Cars said on Friday that its first-quarter net profit rose 26 per cent compared to the same quarter last year, driven by strong sales in China and Western Europe. Net income for the period was 2.6 billion kronor (294 million dollars), compared to 2.06 billion kronor a year ago. The carmaker… Read more

Ireland entices Chinese tourists with trade show

[Photo provided to China Daily] Ireland’s tourism authority kicked off its annual road show in Beijing on April 24. The five-day event also includes stops in Shanghai, Guangzhou and Hong Kong. “Our annual sales mission is an important event in our marketing calendar,” says Niall Gibbons, CEO of Tourism Ireland. Its purpose is to enhance and… Read more

Source control crucial to eliminating ‘gutter oil’

BEIJING — Source control is crucial to eliminating the use of “gutter oil” in China, an expert has said. Zhu Yi, associate professor at China Agricultural University, was referring to recycled oil made from kitchen waste dredged from gutters behind restaurants and inedible animal oil, as the General Office of the State Council released a guideline… Read more

Trump infrastructure plan called chance for win-win cooperation

  1. The $1 trillion infrastructure plan proposed by US President Donald Trump signals win-win opportunities for China and the United States, according to experts. US Transportation Secretary Elaine Chao told The Boston Globe on April 21 that she expected Trump’s $1 trillion plan to debut this summer after the administration tackles tax reform. “We’re on track,” Chao… Read more

China, Russia to develop new jet

Domestic aircraft manufacturer Commercial Aircraft Corp of China said on Thursday that it has started work to develop a wide-body commercial jet with Russia, and the passenger plane is expected to be delivered within 10 years. The 280-seat wide-body jet would have a range of 12,000 kilometers. The project signals the two countries’ ambitions to compete… Read more

Innovation lifts SOEs, Li says

Premier Li Keqiang listens to information about a robot that uses biometric information to allow gate entry. Li attended an exhibition of innovative products in Beijing on Thursday. WU ZHIYI / CHINA DAILY Premier advocates blending entrepreneurship and technology with industrial strength Entrepreneurship and technological innovation have immensely contributed to sustaining the development of State-owned enterprises… Read more

Sinopec to buy interest in SECCO from BP for $1.68 billion

Asia’s largest refiner Sinopec has agreed to purchase a 50 percent stake in the Shanghai SECCO Petrochemical Company Limited from BP, the company announced on Thursday evening. Gaoqiao Petrochemical Co Ltd, a 100% subsidiary of China Petroleum & Chemical Corporation (Sinopec), has agreed to buy the 50 percent stake for $1.68 billion. ECCO is currently owned… Read more

WeChat becomes business tool as it tops rival Facebook’s daily usage

WeChat, the ubiquitous messaging app, is being used for an ever longer period of time and is growing into a lifestyle choice embedded into daily activities and interactions, a new survey has found. In 2016, one-third of WeChat’s 889 million monthly active users spent a solid four hours or more per day on the mobile chatting… Read more

Chinese Takeover Bid for US-based MoneyGram Scrutinized

The financial industry is closely watching Alibaba affiliate Ant Financial’s attempt to acquire Dallas-based MoneyGram International, the world’s second biggest money transfer company after Western Union. Ant is offering $1.2 billion, more than U.S.-based competitor Euronet Worldwide. If successful, the deal would turn Ant Financial into a financial behemoth with access to MoneyGram’s vast network of… Read more

China’s strong growth ensures stable world economy: Economists

SYDNEY – Leading Australian economic experts say China’s first quarter economic results have driven the global economy to success. For the first quarter of 2017, China exceeded expectations, recording a 6.9-percent increase in gross domestic product, or GDP. The result was incredibly positive according to the James Laurenceson, deputy director of the Australia China Relations Institute… Read more

It’s time to harness the power of African youth

Young people can offer the much-needed human capital to speed up economic growth and foster sustainability on the continent Africa, the continent with the biggest potential for growth because of untapped opportunities, is home to 12 percent of global oil reserves (Nigeria, Algeria, Angola, Sudan and new potential sources like Kenya); 40 percent of the world’s… Read more

Pull the plug on internet monopolies

  1. WeChat is China’s most popular mobile text and voice messaging communication service developed by Tencent. [Photo/IC] IN AUGUST 2012, THE DOMESTIC SOCIAL MEDIA APP WECHAT opened a new function called “public accounts” that allows registered users to publish their articles. Those who read an article on a public account can choose to make a payment to… Read more

Move to protect US steelmakers is against norms of world trade

A worker at a steel company in Lianyungang, Jiangsu province, in January 2015. [Photo/China Daily] Announcing that the United States will investigate whether foreign steel imports harm the country’s national security, US President Donald Trump and Commerce Secretary Wilbur Ross have sent an unmistakable message to the big US steelmakers that they will protect them. National… Read more

New energy cars steal the show
Nearly 1,200 new vehicles are exhibited at the Beijing auto show in April 2016, and this year’s show in Shanghai will have a larger scale, with 1,400 cars to be displayed. LI WENMING / FOR CHINA DAILY Electric, plug-in hybrids and fuel-cell vehicles arrive to woo audiences, report Li Fusheng and Hao Yan. One thousand domestic… Read more
China’s economic growth to contribute $125b to Australian economy: Expert
CANBERRA — Strong growth of the Chinese economy, coupled with the Reserve Bank of Australia’s (RBA) decision to cut interest rates to record lows, are expected to deliver a AU$165 billion ($125 billion) boost to the Australian economy, according to Deloitte Access Economics. Recently, China reported an annual growth rate of 6.9 percent for the first… Read more

China’s spending on robotics to hit $59.4b in 2020: IDC

Robot Jia Jia displays at the 2016 World Robot Exhibition in Beijing, Oct 21, 2016. [Photo/Xinhua] SHANGHAI – International Data Corp (IDC) reports that China will be spending $59.4 billion on robotics and related services by 2020. As the largest and the fastest growing robotics market in the world, China will account for over 30 percent… Read more

Top 10 most valuable brands in China

Companies in the technology, banking and telecom industries have dominated a list of most valuable brands in China compiled based on a study by advertising research agency WPP and Millward Brown. The total value of BrandZ Top 100 Chinese Brands hit record levels in 2017, growing 6 percent to reach $557.1 billion in brand value. Here… Read more

Beijing moves into all clean energy era

Unit supervisor Liu Yong of Huaneng Group shuts down the last coal-fired power plant in Beijing on Saturday. [Photo by Yuan Yi/For China Daily] Beijing shut down its last large-scale coal-fired power plant on Saturday, meaning that the capital now uses only clean energy for all electricity and heating. The measure, which was announced in the… Read more

CRRC breaks ground at $100m US railcar factory

Chinese railcar manufacturer CRRC Sifang America broke ground on Thursday in Chicago at a $100 million plant that will build railcars for the city’s transit authority and become the company’s North American hub for the assembly of railcars. In 2016, CRRC Sifang, a unit of China Railway Rolling Stock Corp, was awarded a $1.3 billion contract… Read more

Govt remains committed to economic opening-up: Vice-premier

Vice-Premier Zhang Gaoli delivers a speech at the China Development Forum in Beijing, March 19, 2017. [Photo by Feng Yongbin/chinadaily.com.cn] China remains committed to its stance of economic opening-up and further improve the business environment for foreign investors, said Vice-Premier Zhang Gaoli on Sunday. “China will push for more opening-up,” he told participants of the China… Read more

Apple to set up two more research centers in China

Apple CEO Tim Cook (right) speaks at the 18th China Development Forum (CDF) in Beijing on March 18, 2017. [Photo/VCG] Apple Inc is to set up two more research and development (R&D) centers in Shanghai and Suzhou, following Beijing and Shenzhen, said the head of the US tech giant. “Talents are China’s greatest treasures. Workers in… Read more

Highlights of Premier Li’s press conference

  1. Premier Li Keqiang answers questions of reporters at a news conference during the annual two sessions in Beijing on March 15, 2017. [Photo by Kuang Linhua/chinadaily.com.cn] Premier Li Keqiang met reporters from home and abroad at a news conference on Wednesday at the end of the annual meeting of the National People’s Congress. Premier Li answered… Read more

Top nine priorities of govt for 2017

Night view of Beijing’s skyscrapers, office buildings and highways. [Photo/VCG] 1 Pushing ahead with the five priority tasks through reform Take solid and effective steps to cut overcapacity Take targeted policies to cut excess urban real estate inventory Carry out deleveraging in an active and prudent way Take multiple measures to cut costs Take targeted and… Read more