Post

China’s Chongqing sees foreign trade up 12.5% in 2020

Guoyuan Port is becoming the center of Chongqing”s inland international logistics hub. [Photo/liangjiang.gov.cn] CHONGQING — The foreign trade in Southwest China’s Chongqing Municipality reached 651.34 billion yuan (about $100.7 billion) in 2020, up 12.5 percent year-on-year, local customs said Wednesday. The municipality had maintained double-digit growth in foreign trade for three consecutive years. Data showed...

Post

China’s 2020 economic performance helps global economy: media

A photo shows the sunny day view of CBD area in downtown Beijing. [Photo/Sipa] WASHINGTON — China”s exceptional performance in 2020 has helped the global economy in the face of the devastating COVID-19 pandemic, the Wall Street Journal reported Monday. While the World Bank projected the global economy to have pulled back by 4.3 percent...

Post

China’s Sichuan reports record-high foreign trade volume in 2020

A railway container center in the Sichuan-Pilot Free Trade Zone in Chengdu. [Photo/Xinhua] CHENGDU — China”s Sichuan province saw a record-high foreign trade volume of about 808. 2 billion yuan ($124.9 billion) in 2020, registering a 19-percent growth year-on-year, according to a report by the customs of the provincial capital Chengdu. Of the total volumes,...

Post

China eyes more FTAs – Chinadaily.com.cn

A cargo ship docks at Qinzhou Port in China-ASEAN Free Trade Area in Qinzhou, Guangxi Zhuang autonomous region, on July 11, 2020. [Photo/Xinhua] China will step up efforts to expand free trade agreements with high-level standards, to improve the interplay of domestic and foreign markets and resources, in pursuit of the dual-circulation strategy, said Gao...

Post

China’s ODI up in 2020, ministry reports

Workers of China Railway 20th Bureau Group Corp receive on-site safety training for a railroad project in Mozambique in September 2019. [Photo provided to China Daily] China”s total outbound direct investment last year hit $132.94 billion, up 3.3 percent year-on-year, although non-financial ODI declined slightly from 2019 to $110.15 billion, a drop of 0.4 percent...

Post

‘Dual circulation’ to boost growth (V)

Editor”s Note: Despite global uncertainties and the economic downturn caused by the COVID-19 outbreak, China is on track to embrace the dual-circulation development pattern as it enters the 14th Five-Year Plan period (2021-25) in 2021, which also marks the 100th anniversary of the founding of the Communist Party of China. China Daily spoke to senior...

Post

Nation reaches 2020 tax collection target

Officials help a taxpayer at an office in Fuzhou, Fujian province, on Nov 11. [Photo/Xinhua] Policymakers suggest continuation of steps to keep costs at bay, control risks China achieved its budgeted tax income target for 2020 despite the COVID-19 effect on taxpayers and the slew of rebates, prompting policymakers to suggest a continuation of the...

Post

IMF: Digital, ecology key to even recovery

The International Monetary Fund (IMF) headquarters building is seen in Washington, US, April 8, 2019. [Photo/Agencies] WASHINGTON-Digital economy and green investment will help secure China”s balanced recovery from the COVID-19 pandemic, a senior official at the International Monetary Fund said recently. “In China, just as in many other countries, we have seen the pandemic accelerating...

Post

Nation’s 2020 FDI rises 6.2%, nearing trillion yuan

A clerk counts yuan bank notes and US dollar bills at a branch of the Industrial and Commercial Bank of China in Huaibei, East China”s Anhui province. [Photo/IC] China’s record-setting use of foreign direct investment last year reflects foreign investors’ strengthened confidence in doing business in the country, analysts and business executives said. Their confidence...

Post

Guangdong reports solid trade growth in 2020

Skyscrapers border the lush green landscaping in Shenzhen”s central business district. [Photo provided to chinadaily.com.cn] Guangdong province, China’s biggest foreign trader, recorded an import/export volume of more than 7 trillion yuan ($1.08 trillion) for 2020 after the province set a record for exports, according to the Guangdong Customs on Wednesday. Guangdong’s foreign trade with the...

Post

Regulator vows fillip to domestic consumption

Tourists shop at a duty-free shopping mall in Sanya, South China”s Hainan province, on March 12, 2020. [Photo/Xinhua] Efforts to boost domestic consumption will be intensified this year to spur economic recovery despite the mounting uncertainties, according to the country’s top economic regulator. China will also strive to improve the purchasing power of consumers, improve...

Post

China’s wealthiest professional managers ranked in new list

The 50 most successful professional managers came from 24 enterprises, all listed as Hurun”s top 500 companies in China. [Photo/IC] Haitian Flavoring’s vice chair Cheng Xue is the wealthiest professional manager in China, with assets of 65 billion yuan ($10 billion). Tencent president Martin Lau Chi-ping and Eric Jing Xiandong, CEO of Alibaba’s Ant Group,...

Post

China’s 2020 power use up 3.1%

A thermal power plant in Zhangjiakou, North China”s Hebei province, March 3, 2020. [Photo/IC] BEIJING — China’s electricity consumption, a key barometer of economic activity, maintained steady expansion in 2020 as the country ended the year with a solid economic recovery despite the ravaging COVID-19 epidemic. Total power use in China rose 3.1 percent year-on-year...

Post

China’s economy has strong momentum for continued outperformance in 2021: US economist

A view of Beijing on Oct 28, 2020. [Photo/IC] WASHINGTON — The basis for China”s robust economic recovery has been the control of COVID-19, a renowned US economist said Tuesday, noting the country has strong momentum for continued outperformance in 2021. “China is leading the global recovery,” Nicholas Lardy, a senior fellow at Washington DC-based...

Post

Tibet’s GDP grows 7.8% in 2020

Tourists visit the Potala Palace in Lhasa, Tibet autonomous region. [Photo/China News Service] LHASA — The gross domestic product of Southwest China”s Tibet autonomous region grew 7.8 percent in 2020, said Qizhala, chairman of the regional government. Tibet’s GDP surpassed 190 billion yuan (around $29.2 billion) last year, Qizhala said in his government work report...

Post

Looking ahead in Hainan: duty-free shopping

The tropical island of Hainan in South China is a top destination for holiday makers from across the world. Thanks to the strict COVID-19 prevention measures and updated preferential policies, it is seeing big growth in its duty-free industry. With duty-free daily consumption goods, departure tax refunds and offshore duty-free products all on offer, Hainan...

Post

China’s 2020 per capita disposable income doubles from 2010 level

People visit a shop at the renovated East Nanjing Road Walkway in East China”s Shanghai, on Sept 12, 2020. [Photo/Xinhua] BEIJING — China’s per capita disposable income reached 32,189 yuan (about $4,961) in 2020, more than double the level in 2010, official data showed Tuesday. The figure represents a 2.1-percent year-on-year increase in real terms...

Post

China remains world’s largest online retail market: ministry

Livestreamers promote local farm products in Miaomiaohu village of Pingluo county, Ningxia Hui autonomous region, on June 14, 2020. [Photo by Chen Zebing/For China Daily] BEIJING — China”s online retail sales of goods rose 14.8 percent year-on-year to 9.8 trillion yuan (about $1.5 trillion) in 2020, data from the Ministry of Commerce showed Tuesday. China...