China’s central bank to set up new credit market department: governor

China's central bank will set up a new credit market department in a bid to guide financial institutions to implement corresponding work focusing on technology finance, green finance, inclusive finance, pension finance and digital finance, Pan Gongsheng, governor of the People's Bank of China (PBC) announced on Wednesday at a press conference.  The establishment of […]

NDRC vows to enhance consistency in macro policy orientation in 2024

China's top economic planner on Thursday emphasized the importance of enhancing consistency in macro policy orientation in 2024, as part of its efforts to strengthen policy coordination and ensure a synchronized and concerted policy response across economic sectors. Assessing the consistency of macro policy orientation is a crucial innovation in macroeconomic regulation and an important […]

MUJI fined $350 for selling poor-quality children's T-shirts

MUJI (Shanghai) Commercial Co was recently fined 2,517.5 yuan ($350) and had 377.1 yuan of illegal income confiscated by the market regulator in Jing'an district of Shanghai, as the company produced and sold substandard products as qualified products, according to the information from data provider Tianyancha. Tianyancha showed that the fiber content of children's striped […]

British Airways doubles Chinese cabin crew bases, showing confidence in Chinese market growth

British Airways is doubling their Chinese-speaking cabin crew bases in China, and the first batch is expected to enter service in May, the airline's chief customer officer said on Thursday, and the company is bullish on the growth of the Chinese economy and the rising travel demand.  "We will add 50 cabin crew members in […]

China-US academic exchanges need to act as guardrail amid the strategic competition

On Wednesday, eight scholars from various Chinese and US universities gathered at Schwarzman College of Tsinghua University to discuss the road ahead for China-US academic exchanges. Most of the participants of this event have gained numerous wonderful memories on the road of academic exchanges, and these experiences have also shaped and influenced their academic careers. […]

State Grid Changzhou Power Supply Company pioneers smart low-voltage power distribution area

In a groundbreaking move at the end of December 2023, Changzhou Power Supply Company, based in Jiangsu Province, initiated a pilot project for the establishment of a smart low-voltage power distribution area in the Shanghong Yunfengyuan Community, Changzhou city. This innovative tool can automatically adjust distributed power resources for an enhanced grid interaction. In recent […]

US urged to 'do more on peace' as Pentagon's first industrial strategy hypes 'China threat'

The Chinese Foreign Ministry on Friday urged the US to do more to contribute to peace and stability and not to introduce bloc confrontation, conflicts and wars into the Asia-Pacific, in response to the China-related content in the US' first-ever National Defense Industrial Strategy (NDIS), which highlighted the need to reform its defense industry and […]

China abstains on UNSC resolution over Red Sea crisis for fear of fueling tension

China, along with Algeria, Mozambique and Russia, abstained on a US-backed UN Security Council (UNSC) resolution demanding Houthi militia stop attacks on commercial ships in the Red Sea, which was adopted on Wednesday with 11 voting for and zero against. Zhang Jun, China's permanent representative to the UN, explained China's abstention as certain revisions proposed […]