By Xinhuanet| 2022-04-09 09:12:13

Trade between China and countries along the Mekong River has continued to surge despite the impact of the COVID-19 pandemic and the sluggish global economic recovery.Thanks to extensive cooperation in efforts to combat the novel coronavirus and drive economic growth, trade between China and the five other Mekong countries hit almost 400 billion U.S. dollars in 2021, up 23 percent year on year.The figures were disclosed at the ongoing Lancang-Mekong Cooperation Week 2022, which opened on Thursday.In 2016, the Lancang-Mekong Cooperation (LMC) mechanism was launched by six countries -- China, Cambodia, Laos, Myanmar, Thailand and Vietnam. It derives its name from a river that is called Lancang in China and Mekong in the five other countries.The LMC mechanism has since become a landmark cooperation model in the region and continuously injected vitality into regional development.

By Xinhuanet| 2022-04-07 23:35:15

The China-ROK (Huizhou) Industrial Park in Huizhou City, south China's Guangdong Province, has seen project deals with a total investment of over 190.2 billion yuan (about 30 billion U.S. dollars), local authorities said Thursday.The Huizhou industrial park, one of three major industrial parks in the country that target enterprises from the Republic of Korea (ROK) and facilitate economic and trade exchanges with ROK, is expected to cover a total area of more than 94 square km upon completion.The State Council approved the establishment of the park in 2017 and the park's five major sections began construction in succession around 2018.To date, the park has launched 165 projects, with an estimated output value of around 309 billion yuan, according to the Huizhou municipal government.The industrial park will focus on attracting investment and enterprises from industries such as intelligent mobile terminals, ultra-high-definition video display, smart energy, artificial intelligence (AI), and laser additive manufacturing.Huizhou is Guangdong's major trading city with ROK. In 2021 alone, goods worth over 19.28 billion yuan were imported and exported between Huizhou and ROK, up 38.3 percent year on year.As of March, 305 ROK-funded enterprises had been set up in Huizhou, among which 36 had invested more than 10 million U.S. dollars respectively mainly in the city's electronic and information and chemical industries. ■

By Xinhuanet| 2022-04-01 11:10:14

China will deepen multilateral and bilateral economic and trade cooperation, according to a government work report submitted Saturday to the national legislature for deliberation.The Regional Comprehensive Economic Partnership (RCEP) has created the largest free trade zone in the world. China will encourage enterprises to make good use of preferential tariff treatment, cumulation of origin, and other rules under the RCEP framework to expand cooperation on trade and investment, according to the report.China will remain firm in upholding the multilateral trade regime and will participate actively in the reform of the World Trade Organization. China is ready to work with all countries to enhance mutually beneficial cooperation and achieve win-win outcomes for all, the report said. 

By Xinhuanet| 2022-03-30 11:13:35

The number of 5G connections in China is expected to reach 892 million by the end of 2025, according to a recent analysis by GSMA, an international association of mobile operators.This figure is higher than GSMA's forecast around half a year ago at the World Internet Conference Wuzhen Summit, despite the fact that some Chinese provinces and cities are currently combating COVID-19 outbreaks.Strong 5G demand on the Chinese mainland has made it the single largest 5G market in the world, with 5G connections accounting for over 75 percent of the global total at the end of 2021, according to the association's latest report "The Mobile Economy China 2022.""China is one of the leading markets for 5G and has been playing an important role in accelerating the digital transformation of industries," said Sihan Bo Chen, head of Greater China for GSMA.By early March, China had around 1.43 million 5G base stations and over 500 million 5G users. The country will work to ensure the number of 5G base stations tops 2 million this year, official data showed. 

By Xinhuanet| 2022-03-28 22:54:12

China's major steel mills saw their average daily output of crude steel stand at about 2.05 million tonnes in mid-March, an industrial data showed.The daily output marked an increase of 4.61 percent from that recorded in early March, according to the China Iron and Steel Association.Major steel producers churned out 20.49 million tonnes of crude steel in mid-March, the data showed.During this period, daily production of pig iron rose 3.05 percent from early March, while that of rolled steel gained 5.17 percent, the data showed. 

By Xinhuanet| 2022-03-27 23:38:55

The share of Chinese passenger car brands in the domestic market increased in the first two months of the year, data from an industry association showed.Over 1.63 million Chinese brand passenger cars were sold in the country during the period, surging 20.3 percent year on year, according to the China Association of Automobile Manufacturers.The market share of these brands accounted for 44.6 percent in the country in the January-February period, up 2.2 percentage points year on year.In February alone, the sales of Chinese brand passenger cars soared 27.9 percent year on year to about 634,000 units, with a market share basically unchanged from the same period last year.

By Xinhuanet| 2022-03-27 23:34:51

Profits of China's major industrial firms rose 5 percent year on year in the first two months of 2022, official data showed on Sunday.The growth rate went up 0.8 percentage points from December last year, the National Bureau of Statistics (NBS) said.Industrial firms each with annual main business revenue of at least 20 million yuan (3.14 million U.S. dollars) saw their combined profits reach 1.16 trillion yuan in the two months.In the January-February period, the revenues of those firms went up 13.9 percent year on year to 19.4 trillion yuan, and 21 out of 41 industries saw growth in profits.At the end of February, their assets totaled 142.24 trillion yuan, up 10.4 percent year on year. Their liabilities totaled 80.03 trillion yuan, up 10.2 percent. The ratio of liabilities to assets was 56.3 percent, down 0.1 percentage points year on year.In the face of economic challenges at home and abroad, many regions and departments have boosted support for the real economy, facilitating the steady recovery of the industrial sector in January and February, said Zhu Hong, a senior statistician with the NBS.Zhu highlighted those sectors involving energy raw materials, as they have contributed much to the increase in industrial profits in the past two months.Among them, the profits of the mining industry increased by 1.32 times year on year, much higher than the average.Driven by the rising prices of crude oil and coal, the profits of the oil and gas exploitation sector rose by 1.57 times and the profits of the coal exploitation and washing sector expanded by 1.55 times year on year.Due to the rising prices of non-ferrous metals and chemical products, the profits of non-ferrous metal smelting industry went up 63.8 percent and the profits of the chemical industries went up 27.3 percent year on year.Despite rising profits, Zhu cautioned against rising costs for businesses, noting that the downstream enterprises, especially the smaller ones, are still under pressure.More efforts should be made to ensure the supply of bulk commodities, so as to steady their prices, cut production costs for enterprises, carry out the supporting policies for the manufacturing industry, and fulfill the tax-cut policies for small businesses, Zhu said. 

By Xinhuanet| 2022-03-24 17:07:47

Construction of two ultra-high voltage (UHV) power transmission projects in China began on Thursday as part of efforts to ensure clean electricity supply, according to the State Grid Corporation.With a total investment of 10.9 billion yuan (about 1.71 billion U.S. dollars) and a total length of 525 km, the two 1,000-KV projects will respectively link the eastern cities of Fuzhou and Xiamen, and the central cities of Zhumadian and Wuhan.Both projects are expected to be put into operation next year, helping to promote the consumption of clean energy generated by offshore wind farms and photovoltaic power stations, the State Grid said.So far, the State Grid has completed the construction of 29 UHV projects, transmitting more than 2.5 trillion kilowatt-hours of power, it said. It expects its trans-provincial and trans-regional power transmission capacity to rise from 240 million kilowatts at present to over 370 million kilowatts by 2030.The State Grid, the world's largest utility company, supplies power to a population of over 1.1 billion people, with its service area covering 88 percent of China's territory. 

By Xinhuanet| 2022-03-23 21:32:59

Northwest China's Xinjiang Uygur Autonomous Region recorded 23.82 billion yuan (3.75 billion U.S. dollars) in foreign trade in the first two months of this year, up 34.4 percent year on year, the local customs said Wednesday.According to Urumqi customs, Kyrgyzstan became Xinjiang's largest trade partner in the period, with 8.5 billion yuan in trade.Xinjiang's trade with Tajikistan, Russia, Indonesia, countries along the Belt and Road, as well as Regional Comprehensive Economic Partnership (RCEP) participating countries increased significantly during the period.Yuan Jiangwei, an official with the customs, attributed the robust figures in part to efforts from local authorities to help foreign trade companies secure orders and explore markets. 

By Xinhuanet| 2022-03-22 10:25:27

China will implement the policy of large-scale value-added tax rebates to provide strong support for a stable macroeconomic market, a State Council executive meeting chaired by Premier Li Keqiang decided on Monday.The meeting also made plans for comprehensive measures to stabilize market expectations and maintain steady and sound development of the capital market.