A view of a Tesla showroom in Shanghai. [WANG GANG/FOR CHINA DAILY] With its construction permit obtained on Monday, US electric vehicle maker Tesla’s energy storage project in Lin-gang, eastern Shanghai — the first of its kind outside the United States — is expected to break ground this month and enter mass production in the … Continue reading Tesla secures major construction permit
Tag: china
China’s pickup truck sales increase in April
File photo shows a Hummer electric pickup truck displayed at the Automobile Exhibition Area of the 4th China International Import Expo in East China’s Shanghai. [Photo/Xinhua] BEIJING — Sales of pickup trucks in China rose 4.4 percent year-on-year in April as the country’s consumption promotion policies boosted the market, industry data showed. According to the … Continue reading China’s pickup truck sales increase in April
China Eastern Airlines resumes Shanghai and Kashgar direct flight
A plane of China Eastern Airlines takes off from the Shanghai Pudong International Airport in Shanghai, Dec 9, 2023. [Photo/Xinhua] With 136 passengers onboard, China Eastern Airlines resumed its direct flight between Shanghai and Kashgar in Northwest China’s Xinjiang Uygur autonomous region on Saturday, which is the longest domestic flight operated by the Shanghai-based carrier. … Continue reading China Eastern Airlines resumes Shanghai and Kashgar direct flight
China issues first batch of ultra-long special treasury bonds
BEIJING – China issued 40 billion yuan ($5.63 billion) of ultra-long special treasury bonds with a term of 30 years on Friday, the first batch of its 1 trillion yuan of such bonds planned for this year. The bonds, with an interest rate of 2.57 percent, will be used to raise funds for implementing major … Continue reading China issues first batch of ultra-long special treasury bonds
PBOC announces new move to help stabilize property market
Potential homebuyers look at property models in Huaian, Jiangsu province. [Photo by Chen Liang/For China Daily] The People’s Bank of China, the country’s central bank, said on Friday that it has abolished the nationwide policy floor for the interest rates on commercial mortgage loans for first-time and second-time home buyers as the country’s latest step … Continue reading PBOC announces new move to help stabilize property market
Stock market to be more efficiently regulated
A view of the China Securities Regulatory Commission headquarters in Beijing. PHOTO/CHINA DAILY Regulatory emphasis on the capital market’s support for the real economy and continued efforts to optimize the trading mechanism and infrastructure in the A-share market are conducive to the high-quality development of the Chinese stock market, said industry experts. Their comments were … Continue reading Stock market to be more efficiently regulated
China seen continuing to cut US debt holdings
A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. [Photo/China Daily] China is likely to continue to reduce the share of United States debt in its overall foreign exchange reserves as it ramps up efforts to diversify foreign asset portfolios to reduce risk exposure, experts said … Continue reading China seen continuing to cut US debt holdings
Home appliance makers eye bigger global reach
A visitor checks out products of Bear Electric Appliance Co Ltd during an expo in Shanghai on May 12. [Photo/China Daily] Chinese small home appliance makers are accelerating steps to expand their footprint in emerging overseas markets and increasing investment in localized research and development as part of a broader push to bolster sales globally … Continue reading Home appliance makers eye bigger global reach
China to see stable growth in ICT spending amid AI boom: IDC
Visitors experience a smart cockpit of an Aito M9 vehicle at the 2024 Beijing International Automotive Exhibition in Beijing, China, April 25, 2024. [Photo/Xinhua] BEIJING – China’s spending on information and communications technology (ICT) is projected to experience steady growth as various industries adopt the latest wave of digital transformation driven by artificial intelligence (AI). … Continue reading China to see stable growth in ICT spending amid AI boom: IDC
Brokerages’ deal augurs well for capital market recast
Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. [Photo/Agencies] Regulators’ strengthened supervision will help China’s capital market to mature toward its high-quality development, domain experts said on Wednesday after reviewing the latest market consolidation deal in the segment of securities brokerages. They said higher requirements in terms of … Continue reading Brokerages’ deal augurs well for capital market recast