China must emphasise modern services in its push for new productive forces, Sheng Songcheng says, flagging the need for a hi-tech, high-quality service sector.
China has revealed hefty penalties on imports from the US of an acid used as a preservative as trade relations between the two countries appear likely to return to an outwardly acrimonious track.
Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y.
Commercial ties between China and the Middle East are enjoying a revival as politics, energy transition and supply-chain upheavals create opportunities for Chinese exporters, according to management consultancy Oliver Wyman.
It is only a matter of time before the currently depressed market stages a rebound, according to Fred Hu of private-equity firm Primavera Capital.
Asia official with Washington-based agency points to the PBOC’s policy moves, as well as China’s infrastructure spending, as economic bellwethers in the face of headwinds.
The US’ proposed tripling of tariffs on Chinese steel imports would be the first move in a tit-for-tat struggle that would expand the bilateral trade war, analysts said – and fuel grumblings over industrial overcapacity.
Premier Li Qiang told overseas buyers at the Canton Fair that China’s development will inject more stability into the world economy and global trade as it seeks to shore up confidence and retain and entice investors.
China has continued to sell its holdings in US debt as the likelihood of expected interest rate cuts grows more remote and Beijing looks to widen the diversity of its foreign asset pool.
China’s coming May Day holiday already has the makings of a major tourism rush, with early bookings exceeding pre-pandemic levels and the travel boom likely to fuel a much-desired round of consumption.
Prominent government adviser Liu Yuanchun says the immediate future will be marked by disequilibrium, and more non-economic risks are emerging than economic ones, after first-quarter GDP growth impresses.
Carmakers like Dongfeng, Chery and BYD are eyeing production sites in Europe to assemble the next generation of electric vehicles as a foil against the EU’s protectionist tariffs as a brutal price war at home drives more producers offshore in search of fresh markets.
China’s state-owned aircraft manufacturer held a conference ahead of a week-long seminar to seek progress with its C929 passenger jet, which is due to rival the Airbus A350 and Boeing 787 models for long-haul routes.
The cutbacks, described by people familiar with the matter, come as a prolonged market slump reduces trading commissions and authorities tighten limits around what research analysts are allowed to publish.
At the Digital Silk Road Development Forum in Xian, Alibaba and Shein were praised for helping advance the country’s booming cross-border e-commerce sector.
China’s widely watched gross domestic product (GDP) figure beat expectations in the first three months of the year, but retail sales growth dropped in March and property investment fell by 9.5 per cent in the first quarter.
Buyers and exhibitors of new energy equipment at the Canton Fair are showing boundless optimism as orders rise, but measures likely to be taken against the industry by the US and EU could spoil the fun.
While first-quarter GDP data shows China is on course to meet its full-year economic growth target, policymakers are still being called on to bolster demand and introduce stronger policy support.
Next government has signalled it will continue current policy of diversifying trade links and developing core industries, including cybersecurity and defence
After the release of China’s first-quarter GDP growth, International Monetary Fund says the lack of a ‘comprehensive response’ could lead to less economic growth than Beijing is hoping for this year.
The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.