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China Business NOWCBN丨CIIE offers key platform to open up, drive growthHi everyone. I’m Stephanie LI.Coming up on today’s programChinese Premier gave keynote speech at the 7th CIIE opening ceremony, pledging further opening up;Shenzhen drafted an action plan to push for high-quality development of the low-altitude economy.Here’s what you need to know about China in the past 24 hours Chinese Premier Li Qiang on Tuesday pledged to further expand opening up and turn China's vast market into great opportunities for the world.Li made the remarks during his key...
2024-11-0606 minChina Business NOWSky isn’t the limit: China’s low altitude economy ready to soarImagine this: During the congested morning rush hour, you casually hop in a "flying taxi" to work, then enjoy a freshly brewed, drone-delivered coffee at the office, isn’t it like a scene in sci-fi movies? It may soon become a reality in China, with different types of seemingly futuristic drones delivering packages and takeaway food, work commutes using winged taxis and sightseeing helicopters as a hobby, bolstered by a suite of supportive policies.Little known before, the low altitude sky is growing increasingly busy, setting the stage for the rise of the low altitude eco...
2024-04-1913 minChina Business NOWThe “eat, play, shop” migration: What’s the allure to “go north”?China saw a boom during last week’s Qingming Festival, also known as Tomb-Sweeping Day, recording 119 million domestic passenger trips during the three-day holiday, up 11.5 percent from the same period in 2019, marked by bustling tourist attractions and surging consumption. Official data also showed domestic revenue during the period totaled 53.95 billion yuan (US$7.6 billion), up 12.7 percent from the same period in 2019. But the hustle and bustle actually started a few days earlier, especially between Hong Kong and Shenzhen, which have witnessed record trips of Hongkongers to “go north” as they opted for shopping and entertainment on the mainland after t...
2024-04-1514 minChina Business NOWGlobal CEOs flock to China, embracing new opportunities in high-quality growthChina is taking the absolute centre stage this week.Executives of multinationals, representatives from international organizations and foreign institutions, as well as world-renowned scholars have flocked to the country, attending the ongoing Boao Forum for Asia Annual Conference 2024 and the China Development Forum (CDF) 2024 that concluded on Monday, offering insights into China's development and its global impact. This year's CDF drew more than 110 international guests, including the heads of the World Bank and the IMF, as well as executives of many Fortune 500 companies. Most remarkably, of the more than 80 business executives listed by the CDF, o...
2024-03-2911 minChina Business NOWChina’s Gold Rush: Gen-Z drives latest buying spree amid historic gold priceThere’s a gold rush in China. But unlike the past where middle-aged Chinese were purchasing the gold metal, it’s the young who are now showing a growing appetite for this precious, yellow metal — albeit in bean form.Smaller than a fingertip and often shaped like lucky symbols like ingots or koi fish, gold beans are quickly gaining popularity among China’s Gen Z. Weighing roughly one gram and priced between 400 and 600 yuan, they offer an affordable entry point for buyers. Many purchase one or two pieces monthly, likening the cost to their regular milk tea...
2024-03-2210 minChina Business NOWStuck in the rat race: What China’s EV price war is all about?Chinese EV makers are starting 2024 with yet another round of bitter price war. The competition among automakers in China that started in early 2023 has shown no signs of abating. Particularly in the new-energy vehicle sector, both traditional and emerging players keep cutting prices or launching limited-time promotions, tactics that analysts anticipate will persist throughout the year.Auto giant BYD fired the first shot in this round of the price war after the Spring Festival holidays, introducing new versions of two models that are 20,000 yuan cheaper than the previous versions. US-based Tesla followed suit by launching limited...
2024-03-1511 minChina Business NOWDecoding China’s 2024 Government Work ReportChina seeks to achieve a GDP growth rate of around 5 percent for 2024, the latest signal that the world's second-largest economy is committed to high-quality development despite uncertainties at home and abroad.The projected goal, which remains unchanged from the previous year's growth target, is one of the key development objectives unveiled in the government work report delivered by Premier Li Qiang to the national legislature, which began its annual session Tuesday.But the premier acknowledged that matching that same growth target that the leadership had set a year earlier—when the country was buoyed by opt...
2024-03-0807 minChina Business NOWLuckin beat Starbucks in China to be top coffee seller in 2023. What’s next?Starbucks has long got a trouble. Now it’s official.Luckin Coffee became China’s dominant coffee chain last year, outpacing the nation’s previous leader Starbucks Corp in annual sales for the first time.The Xiamen-based company posted quarterly net revenue of 7.06 billion yuan (US$980 million), representing an increase of 91% from a year ago in a growing and increasingly competitive China market.The latest revenue number in the three months through December brings Luckin’s total sales in 2023 to 24.86 billion yuan (US$3.45 billion), surpassing Starbucks’ comparable annual sales of US$3.16billion in China, making it...
2024-03-0111 minChina Business NOWHoliday consumption booms as Year of Loong “jumps over dragon gate”For the Chinese people, the eternal theme of the Spring Festival, or Chinese New Year, remains family reunion, yet an increasing number of Chinese are choosing to integrate travel and movie-watching into their holiday traditions.The eight-day holiday saw a record number of people go on trips, more holiday goods purchases, and more quality family time spent in doing leisure activities. The growing spending power of Chinese consumers, combined with government policies to support shopping, tourism and cultural events during the holiday, will definitely contribute to sustaining China's economic growth this year, according to government officials and...
2024-02-2311 minChina Business NOWEntering Year of the Dragon: What does 2024 mean to Chinese economy?Red lanterns, Chinese knots and dragon-themed decorations being seen everywhere, festive songs looping in almost every indoor area, billions of Chinese joining the world's largest human migration known as “chun yun”…As these familiar, once in a year kind of scenes unfold, we can clearly see the Spring Festival approaches. The beginning of the Year of the Dragon falls on Feb. 10, 2024, which Chinese people believe would bring good luck and fortune as the Chinese dragon, or loong, is often regarded as auspicious, noble creature. It’s also worth noting that in December 2023, the 78th United Nations Ge...
2024-02-0809 minChina Business NOWRising star Zheng Qinwen leads young generation’s charge for Chinese tennisAryna Sabalenka, the 25-year-old Belarusian was serving for the match in the women’s singles final of the Australian Open, up 5-2 in the second set of a contest that seemingly passed in an instant.As in most of the match, the final game was going Sabalenka’s way. Leading 40-0, the defending champion had three match points. She was ready to win.“Jiayou,” one fan shouted, the ubiquitous cry of support from Chinese sports fans. “Jiayou,” another echoed. They were there for Zheng Qinwen, who would move into the world top 10 for the first time after this tourn...
2024-02-0211 minChina Business NOWChinese cinema in a year: Remarkable resurgence in 2023, vibrant start for 2024After years of ups and downs, especially the three-year heavy blow from the Covid pandemic, China’s film industry saw a fruitful year in 2023, being an absolute bright spot amid the nation’s uneven consumption-led economic recovery.China's film industry staged an impressive comeback in 2023, witnessing a substantial 83 percent year-on-year surge in annual box office sales, reaching a substantial 54.91 billion yuan ($7.7 billion) with nearly 1.3 billion tickets sold throughout the year. Film data platform Beacon, in collaboration with the Xinhua News Agency, released a report of the 2023 China film market's annual review, indicating a 70 percent surge in box offic...
2024-01-2613 minChina Business NOWShanghai's cinematic blossom: Wong Kar-Wai’s series revives “Haipai" nostalgiaHong Kong film auteur Wong Kar-wai’s TV debut Blossoms Shanghai aired its finale on Jan 9. Although ended more than a week ago, the fever of the TV series still lingers. Posts about the drama alone have been read 4.3 billion times on China's micro-blogging platform Weibo. Boasting a stellar rating of 8.5 on Douban, a major Chinese media review platform, Blossoms Shanghai won mostly positive reviews from critics and audience. The TV series set off a new upsurge in cultural tourism in Shanghai, with many citizens and tourists checking out the real-life locations of scenes depicted in the seri...
2024-01-1909 minChina Business NOWCBN丨China’s consumption in 2023 contributes 82.5% to GDP growthHi everyone. I’m Stephanie LI.Coming up on today’s program- Retail sales in China bounce back last year to hit a new record;- Chinese stocksrebounded after the benchmark Shanghai composite dipped below 2,800 points.Here’s what you need to know about China in the past 24 hoursChina's consumption in 2023 played a vital role...
2024-01-1809 minChina Business NOWCBN丨China reports 5.2% GDP growth for 2023Hi everyone. I’m Stephanie LI.Coming up on today’s program- China achieves 5.2% GDP growth in 2023, successfully meeting yearly target;- Premier Li Qiang urges global cooperation and vows continued opening-up at WEF.Here’s what you need to know about China in the past 24 hoursChina's gross domestic product expanded by 5.2 percent in 2023 - meeting the country's preset annual growth target of around 5 percent, fueled by a slew of...
2024-01-1709 minChina Business NOWCBN丨Foreign investment in China picks up in recent monthsHi everyone. I’m Stephanie LI.Coming up on today’s programForeign investors hike holdings of Chinese bonds by record levels;China unveils plan to boost “silver economy".Here’s what you need to know about China in the past 24 hours Foreign investment in China is picking up as overseas investors made net purchases of Chinese onshore bonds for months, including a net purchase of $24.5 billion in December, the highest level in almost two years, the State Administration of Foreign Exchange said on Monday...
2024-01-1710 minChina Business NOWCBN丨China's central bank unexpectedly holds key rate steadyHi everyone. I’m Stephanie LI.Coming up on today’s programChina’s central bank surprises markets by leaving medium-term rate unchanged, but adds liquidity;Chinese premier arrives in Switzerland for Davos forum.Here’s what you need to know about China in the past 24 hours The People’s Bank of China on Monday added 995 billion yuan ($138.84 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions, but surprised markets by leaving the interest rate unchanged when rolling over maturing me...
2024-01-1510 minChina Business NOWHarbin's not so frozen this winter: Behind the heat of China’s “icy city”It all started with a furore, when the Harbin Ice and Snow World was overcrowded by incoming visitors on its opening day. Many had to spend much longer than expected time waiting to get on some of the popular amusement facilities. Angry customers asked the park for ticket refunds.That may have, like many other similar cases, turned into a complete PR disaster, damaging the park and even the city’s reputation. Then things took a U-turn.The Ice and Snow World issued a public apology and swiftly initiated refunds for dissatisfied customers, wh...
2024-01-1210 minChina Business NOWCBN丨China approves 100 billion yuan loans for housing rental groups in 8 citiesHi everyone. I’m Stephanie LI.Coming up on today’s program· Central bank approves 100 billion yuan mortgages for rental housing groups in 8 pilot cities;· China's auto production and sales topped 30 million units for the first time in 2023.Here’s what you need to know about China in the past 24 hours The People's Bank of China (PBOC) approved a total of 100 billion yuan in mortgages for rental housing groups to support the purchase of commercial properties for long-term rental in eight pilot citie...
2024-01-1109 minChina Business NOWCBN丨Chinese CES attendees double this yearHi everyone. I’m Stephanie LI.Coming up on today’s program· CES kicked off with doubling Chinese participants;· Guangzhou’s Nansha is set to play key role in GBA prosperity.Here’s what you need to know about China in the past 24 hours The Consumer Electronics Show (CES), the world's largest consumer tech conference, officially kicked off in Las Vegas on Tuesday. Over 4,000 exhibitors from around the world are showcasing a variety of cutting-edge tech gadgets during the expo - which is dubb...
2024-01-1011 minChina Business NOWCBN丨China issues national standards for auto chipsHi everyone. I’m Stephanie LI.Coming up on today’s program· China steps up efforts to set standards for auto chips amid fierce competition;· China expects record air travel demand in Lunar New Year Holiday.Here’s what you need to know about China in the past 24 hours China’s Ministry of Industry and Information Technology (MIIT) on Monday released a sweeping plan to accelerate the establishment of standards for automotive chips, in a bid to further boost research and development...
2024-01-1009 minChina Business NOWCBN丨China's foreign exchange reserves reach two-year highHi everyone. I’m Stephanie LI.Coming up on today’s program· China’s December forex reserves return to above $3.2 trillion;· Guangdong sees energy storage project filings quadruple in 2024's first week.Here’s what you need to know about China in the past 24 hours China's foreign exchange reserves reached a two-year high of $3.238 trillion as of the end of last year while gold reserves increased for the 14th consecutive month, the State Administration of Foreign Exchange said. The country's...
2024-01-0810 minChina Business NOWMarvelous China丨Adora Magic City charts history in China's shipbuildingThe beginning of 2024 marks an important moment for both China's emerging cruising industry and global cruising. As Adora Magic City departed on its maiden voyage, it paves the way for luxury cruising based in China and potentially for a new cruise shipbuilding market. It's the first-ever luxury cruise ship built entirely in China at international standards. Over the past few days, the Chinese vessel has kicked off its final trials before it sets off on its maiden voyage starting on January 1, 2024.The inaugural voyage welcomed over 3,000 passengers, both from China and international destinations. The maiden r...
2024-01-0511 minChina Business NOWCBN丨PBOC resumes use of PSL facility to inject 350b yuan into policy banksHi everyone. I’m Stephanie LI.Coming up on today’s programChina’s net PSL reaches 350 billion yuan in first month after PBOC reintroduced the tool;BYD overtakes Tesla in quarterly EV sales for the first time.Here’s what you need to know about China in the past 24 hours The net pledge supplemental lending value of China’s three policy banks reached 350 billion yuan in December, the first month after the People’s Bank of China reintroduced PSLs.The net PSL value of...
2024-01-0410 minChina Business NOWCBN丨China’s NEVs sales expected to top 11 million in 2024Hi everyone. I’m Stephanie LI.Coming up on today’s programSales at Chinese NEV makers rebounded in December;Guangdong leads the way with 18.07 million registered businesses.Here’s what you need to know about China in the past 24 hours Having become a new export spotlight for the Chinese economy, the new-energy vehicles (NEVs) industry experienced a hard-won year in 2023, with sales estimated to have hit a new high. Most automakers reported a yearly sales growth. BYD, dominating the domestic market, sold 341...
2024-01-0310 minChina Business NOWCBN丨China’s tourism surged during 2024 New Year holidaysHi everyone. I’m Stephanie LI.Coming up on today’s programChina's tourism roars back during New Year's Day holiday, topping pre-pandemic levels;China's first home-made cruise ship sets sail on maiden voyage.Here’s what you need to know about China in the past 24 hours China's tourism industry roared back to life during the just-concluded New Year's Day holiday, surpassing pre-pandemic levels in both visitor numbers and revenue.Domestic destinations welcomed a staggering 135 million visitors over the three-day break, a stagg...
2024-01-0210 minChina Business NOWCBN丨Government authorities set 2024 policy course with emphasis on innovationHi everyone. I’m Stephanie LI.Coming up on today’s program.Central government departments list innovation at forefront of 2024 tasks;Xiaomi unveils first electric car, plans to become top automaker.Here’s what you need to know about China in the past 24 hours Following China's tone-setting Central Economic Work Conference earlier this month, various government authorities have convened meetings, making specific arrangements to anchor the growth momentum of the Chinese economy in 2024.Multiple central government departments have aligned their new work pl...
2023-12-2811 minChina Business NOWCBN丨China's industrial profits post double-digit gains in NovemberHi everyone. I’m Stephanie LI.Coming up on today’s program.· China's industrial profits extend gains for 4th month in November;· China appoints new deputy head of central bank and other senior economic and financial officials.Here’s what you need to know about China in the past 24 hours Profits at China's industrial firms extended gains for a fourth consecutive month in November, adding to signs of improvement.Data from the National Bureau of Statistics showed on Wednesday that large...
2023-12-2811 minChina Business NOWCBN丨NPPA approves 105 home-made online games in DecemberHi everyone. I’m Stephanie LI.Coming up on today’s program.· China’s gaming regulator approves 105 new games;· Joint-stock banks follow suit on a new round of deposit rate cuts.Here’s what you need to know about China in the past 24 hours The National Press and Publication Administration (NPPA) on Monday announced the approval of 105 domestically produced online games in December, covering a large number of game makers. The announcement, following the approval on Friday of a batch of overs...
2023-12-2609 minChina Business NOWCBN丨China held central rural work conferenceHi everyone. I’m Stephanie LI.Coming up on today’s program.· China vows to build itself into an agricultural powerhouse, with food security and rural revitalization prioritized;· Mainland suspends some tariff cuts on Taiwan imports.Here’s what you need to know about China in the past 24 hours China has laid out the priorities for the country's rural work in 2024 at a key meeting held from Tuesday to Wednesday, stressing the target to build China into an agricultural powerhouse and the importa...
2023-12-2113 minChina Business NOWCBN丨Rescue and reconstruction underway, firms offer help after Gansu earthquakeHi everyone. I’m Stephanie LI.Coming up on today’s program.· Emergency response has been upgraded after Gansu earthquake, while companies are quick to offer donation and supplies;· World's first Zootopia land opens at Shanghai Disney Resort.Here’s what you need to know about China in the past 24 hours The 6.2-magnitude earthquake that jolted China's Gansu province and neighboring Qinghai province at midnight Monday has killed 131 people, with over 780 people injured, local authorities said Tuesday.The earthquake had damaged...
2023-12-2012 minChina Business NOWCBN丨China to see tourism peak in New Year's Day holidaysHi everyone. I’m Stephanie LI.Coming up on today’s program.New Year’s Day holidays see spike in train ticket booking as residents embrace winter travel rush;Emergency response mechanism has been launched to ensure aid to a 6.2 magnitude earthquake in Gansu province.Here’s what you need to know about China in the past 24 hours Train tickets for the first day of the upcoming New Year's Day holidays went on sale on Saturday, with some popular routes sold out within seconds...
2023-12-1910 minChina Business NOWCBN丨China issues rules on non-bank payment institutionsHi everyone. I’m Stephanie LI.Coming up on today’s program.China rolls out new rules to unify 400 trillion yuan non-bank payment sector;East Buy jumps as star live-streamer returns as senior partner and VP of New Oriental’s culture and tourism branch.Here’s what you need to know about China in the past 24 hours China has introduced new regulations to better monitor and supervise non-bank payment institutions, which are entities such as fintech giant Alipay and instant messenger...
2023-12-1810 minChina Business NOWCBN Friday Special丨China-Singapore ties elevated with a record 24 MOUs signedTake a walk in the Gardens by the Bay, go shopping in the high-end malls at the Marina Bay Sands, take photos with the iconic Merlion Statue, enjoy a hearty meal in Chinatown, experience adrenaline-rushing thrill rides at the Universal Studios, or enjoy a cozy afternoon at the Jewel Changi Airport……A fascinating city-state, a vibrant metropolis, where diverse experiences unfold every moment, Singapore is a captivating island nation in Southeast Asia that boasts a thriving tourism industry that excites visitors with its remarkable blend of modernity and tradition. Sounds tempting to go? There’s more go...
2023-12-1610 minChina Business NOWCBN丨China’s new yuan loans topped last year’s total in first 11 monthsHi everyone. I’m Stephanie LI.Coming up on today’s program.- November sees steady expansion of China's financing;- Chinaissued this winter’s first orange alert for a cold wave.Here’s what you need to know about China in the past 24 hoursChina has issued more new yuan-denominated loans in January to November than in the whole...
2023-12-1514 min2023-12-1313 minChina Business NOWCBN丨China's NEV sales in November surpass 1 million for first timeHi everyone. I’m Stephanie LI.Coming up on today’s program.China's auto market expects new records following strong November data;China issues measures to boost integrated development of domestic and foreign trade.Here’s what you need to know about China in the past 24 hours China's auto sector exceeded market expectations in November, with double-digit year-on-year growth reported for both the production and sales of vehicles, laying the ground for record-breaking annual figures, the latest data has shown.The China Association of Automobile Manufacturers said in...
2023-12-1210 min2023-12-1211 min2023-12-0811 minChina Business NOWCBN丨China's economy maintains recovery in JulyHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s economy in July posted steady recovery;-PBOC cuts interest rates by 10bps.Here’s what you need to know about China in the past 24 hours 中国经济要闻China released its main economic indicators for July on Monday, maintaining growth momentum from June as the world's second-largest economy is on track for a strong economic recovery amid government stimulus, but a lower-than-expected expansion pace signals headwinds l...
2022-08-1609 minChina Business NOWCBN Friday Special丨Genki Forest to get on in the action of sugar-free cokeS: Hello everyone, I’m Stephanie Li. Welcome to CBN Friday Special.J: Hi, I am Jenny.S: Do you want some drink, Jenny？J: Thanks, but I have just finished a bottle of Sprite. Stephanie, do you prefer Sprite or Coke?S: Well I used to drink Coke more. But currently, I prefer Genki Forest sparkling water. And, peach flavour is my favourite. Have you heard Genki Forest is bringing out its new Coke-flavoured product soon?J: Yes, I heard about that too. The new beverage is Genki Fore...
2022-08-1505 minChina Business NOWCBN丨PBOC to step up prudent monetary policyHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s central bank said inflation may exceed 3% in some months, pledging to avoid massive stimulus and excessive money printing;-Sinopec discovers rich flows of natural gas and crude oil in Xinjiang.Here’s what you need to know about China in the past 24 hours 中国经济要闻The People's Bank of China (PBOC), the country's central bank, vowed on Wednesday to ramp up the implementation of prudent mo...
2022-08-1208 minChina Business NOWCBN丨China's CPI hits a two-year high of 2.7% in July, but PPI edges downHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Consumer price inflation rose to a 24-month high in July while factory-gate inflation reached new low;-China conducts full audit of at least 20 trust firms.Here’s what you need to know about China in the past 24 hours 中国经济要闻China’s consumer price index (CPI) hit a two-year high of 2.7 percent year-on-year growth in July amid steady food price rises and seasonable factors, the National Bureau of Statistics (NBS) said on...
2022-08-1208 minChina Business NOWCBN丨Fully driverless taxis set to roll in ChinaHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China issues draft guidelines to encourage use of autonomous cars in taxi sector;-China's passenger car sales soar in July as supply chain improves.Here’s what you need to know about China in the past 24 hours 中国经济要闻The Ministry of Transport on Monday issued draft guidelines that encourage the use of autonomous cars in taxi services under certain conditions, in a move to help accelerate the c...
2022-08-1009 minChina Business NOWCBN丨China's foreign trade up 16.6% in July, bucking slowdown fearsHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s foreign trade expanded 16.6% in July, while forex reserves also rose on accelerating exports;-Hainan’s Sanya was put under “static management” amid Covid outbreak, stranding more than 80,000 tourists.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's foreign trade maintained double-digit growth in July at 16.6 percent year-on-year, official data showed on Sunday, underscoring the resilience of China's giant export machine and bucking market...
2022-08-1008 minChina Business NOWCBN Friday Special丨Wentian lab module: new breakthrough in China’s space questS: Hi everyone. Welcome to CBN Friday Special. I’m Stephanie LI. K: Hi, I’m Kathy.S: Hey Kathy. Did you watch the launch of Wentian lab module on Sunday? What a magnificent spectacle, also an exiting moment for all Chinese people. K: Of course. China launched the second of three modules to its permanent space station over last weekend, in one of the final missions needed to complete the orbiting outpost by year's end. A live feed on state broadcaster CCTV showed the 23-ton Wentian module launching on the back of...
2022-08-0210 minChina Business NOWCBN丨China's industrial profits begin to rise in JuneHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Chinese industrial enterprises’ profits in H1 2022 hit 4.27 trillion yuan, up 1% year-on-year;-IMF lowers global economy growth forecast to 3.2%.Here’s what you need to know about China in the past 24 hours 中国经济要闻Profits at China's industrial firms bounced back to growth in June, bolstered by the resumption of activity in major manufacturing hubs.Profits in June grew 0.8 percent from a year earlier, rebounding from a 6.5 percent decline in M...
2022-07-2810 minChina Business NOWCBN丨Stronger consumer product expo shows recovery in China’s consumptionHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -The 2nd consumer product expo in Hainan offers golden opportunities to global companies and shows China’s stable rebound in consumption;-Alibaba seeks dual-primary listing in Hong Kong. Here’s what you need to know about China in the past 24 hours 中国经济要闻The second China International Consumer Products Expo (CICPE) kicked off in Haikou, South China's Hainan Province on Monday, with strong participation from domest...
2022-07-2810 minChina Business NOWCBN丨Shenzhou XIV astronauts enter Wentian lab moduleHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Shenzhou 14 crew entered the newly-launched Wentian space lab this morning;-China will expand cash-pooling pilot program for multinational companies.Here’s what you need to know about China in the past 24 hours 中国经济要闻On Monday at 10:03 am (Beijing Time), the Shenzhou XIV astronauts opened the hatch door of Wentian, the first lab module of China's space station, and entered the module, according to the China Manned Space Agency.It was the fi...
2022-07-2608 minChina Business NOWCBN Friday Special丨Chinese catering industry strives to get back on its feetS: Hi everyone. Welcome to CBN Friday Special. I’m Stephanie LI.J: And I’m Jenny. S: Hey Jenny, summer is here. It's the best time in the year to grab a beer at night and sit outside with a platter of crayfish.J: Yeah. For many in China, crayfish is a delicacy during the summer time, but the COVID-19 outbreak in Shanghai this spring affected the crayfish supply chain again. And not only had crayfish farmers struggled, but restaurants are also making efforts to recover.S: It's been more than...
2022-07-2510 minChina Business NOWCBN丨Chinese Premier rules out large-scale stimulusHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Premier Li rules out large-scale stimulus, while vowing to stay committed to high level opening-up;-Didi Global was fined 8 billion yuan for breaking data security laws by Chinese regulator.Here’s what you need to know about China in the past 24 hours 中国经济要闻Chinese Premier Li Keqiang has ruled out the option of resorting to large-scale stimulus or excessive liquidity in pursuing an overly high target for economic growth this year.
2022-07-2209 minChina Business NOWCBN丨China's industrial activities continue recoveryHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s industrial added value up 3.4% in H1, marking stable recovery as epidemic eased;-The central bank keeps lending benchmark LPR unchanged in July as interest rates stay low.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's industrial activities are continuing a recovery trend following recent COVID-19 outbreaks, led by production in high-tech industries. The country's industrial output jumped 3.4 percent ann...
2022-07-2108 minChina Business NOWCBN丨Guangdong’s GDP grew 2 percent in H1Hi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 - Guangdong’s economy expanded 2 percent in the first half with major indicators registering positive changes;- Chinese banks shrank gold and silver product offerings, while global gold price hit a 10-month low.Here’s what you need to know about China in the past 24 hours 中国经济要闻Guangdong's major economic indicators achieved positive growth in the first half of the year as a slew of stimulus measures has been implemented, with total GDP expanding 2 percent year...
2022-07-2008 minChina Business NOWCBN丨CSIRC asks banks, insurers to ensure deliveries of pre-sold homesHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Chinese banking and insurance regulator makes fresh pledge to deal with rural banks and default mortgage risks;-Heat wave in China is expected to linger for several more weeks.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's banking and insurance regulator vowed on Sunday to handle the risks associated with five rural banks in Henan and Anhui provinces in accordance with laws and regula...
2022-07-1909 minChina Business NOWCBN Friday Special丨China's GDP rises 2.5% year-on-year in H1Hi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。It’s a big day for Chinese economy today, as the world’s second largest economy officially releases economic performance in the first half of the year. Now let’s dig into the numbers.China's economy grew by 2.5 percent in the first half of 2022, the National Bureau of Statistics said on Friday.Figures released by the NBS showed value-added industrial output, a gauge of activity in the manufacturing, mining and utilities sectors, grew by 3.4 percent compared to the same period last year.Retail sales, a key measuremen...
2022-07-1804 minChina Business NOWCBN丨PBOC sees liquidity as 'ample' in sign a rate cut is less likelyHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China's central bank will step up policy support for economy, and liquidity is more than “reasonably ample”;-The cabinet called for efforts to stabilise the job market.Here’s what you need to know about China in the past 24 hours 中国经济要闻China will keep monetary conditions accommodative and guide market lending rates even lower to solidify the country's economic recovery, officials said at a Wednesday press conference on financial statistics in...
2022-07-1508 minChina Business NOWCBN丨China's foreign trade up 9.4% in first halfHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s foreign trade showed strong resilience in the first half, with imports and exports growing by 9.4 percent;-The aviation market rebounds with daily flights hitting 12,000 on back of government support.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's foreign trade recovery continued in the first half of 2022, with the country's total imports and exports expanding 9.4 percent year-on-year, underlying a steady o...
2022-07-1407 minChina Business NOWCBN丨China’s new yuan loans beat estimates in JuneHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China records higher new yuan-denominated loans and accelerating M2 growth for June amid policy supports;-The NDRC relaxes hukou restrictions in small and medium-size cities.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's new yuan loans came in at 2.81 trillion yuan ($418.89 billion) in June, beating previous market estimates, central bank data showed on Monday, as a flurry of pro-growth measures were rolled out to anch...
2022-07-1308 minChina Business NOWCBN丨China's CPI grows 2.5% in June, fastest in a yearHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s consumer inflation in June came in slightly higher than expected as fuel and pork prices soared;-Anti-monopoly watchdog fines Alibaba and Tencent 500,000 yuan each for failing to report deals.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's consumer price index (CPI), a main gauge of inflation, rose by its fastest annual pace in June amid the volatile global energy costs and low base...
2022-07-1208 minChina Business NOWCBN Friday Special丨China’s summer holiday tourism rebounds on bumpy roadS: Hi everyone. Welcome to CBN Friday Special. I’m Stephanie LI. T: Hi, I’m Themis.S: Hey Themis. The summer vacation is coming. Do you have any travel plans?T: Sure. I have been longing to head for the picturesque city of Dali of Yunnan Province in southwestern China but failed to book a hotel room for this weekend because reservations were nearly full. S: Yeah, it seems that China's tourism is on track to a recovery this summer from the previous coronavirus disruptions, especially after the Ministry of Indust...
2022-07-1209 minChina Business NOWCBN丨China studying extending tax exemption for NEVsHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 - China issues measures to expand auto consumption, hints at extension of NEV purchase tax exemption;- Latest Beijing and Xi’an outbreaks are found to be caused by imported Omicron sub-variant BA.5. Here’s what you need to know about China in the past 24 hours 中国经济要闻China is looking to extend a tax exemption for new electric vehicles (NEVs) as part of efforts to encourage car purchases, the Ministry of Commerce said...
2022-07-0808 minChina Business NOWCBN丨China's economy expected to improve amid supportive policies in H2Hi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -The Bank of China believes the Chinese economy will see improvements in the second half, while the world is facing further slow down and high inflation; -China mulls releasing pork from state reserves.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's economy is expected to gradually overcome the negative impacts of the epidemic in the second half of this year, with economic indicators show...
2022-07-0707 minChina Business NOWCBN丨China’s NDRC vows to stabilise pork pricesHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s economic planner intends to prevent a pork price surge, as the meat has climbed 28% at wholesale level since mid-March;-Chinese and U.S. senior officials hold video talk on economic issues.Here’s what you need to know about China in the past 24 hours 中国经济要闻China’s top economic planner said it will take measures to prevent rapid pork-price increases when it deems appropriate, following steady gains the past...
2022-07-0608 minChina Business NOWCBN丨Chinese mainland, Hong Kong expand financial cooperationHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Financial authorities from both the mainland and Hong Kong announced the launch of Swap Connect in 6 months, while the inclusion of ETFs into Stock Connect takes effect today;-A new round of Covid-19 flare-ups hit Yangtze River Delta. Here’s what you need to know about China in the past 24 hours 中国经济要闻Hong Kong’s stock market is taking a step forward in cross-border integration with its mainland counterparts...
2022-07-0508 minChina Business NOWCBN Friday Special丨Beware of “Ice-cream Ninja”!S: Hi everyone. Welcome to CBN Friday Special. I’m Stephanie LI.T: And I’m Themis.S: Themis, it is burning hot today, shall we go get some ice cream for a little treat?T: Good idea. Just a heads-up, you might need to be prepared for some changes, because popsicles now cost 10 yuan or above.S: Oh, indeed. Last time I went to a convenient store, I could hardly find any ice cream pricing 3 yuan or below, but many new releases are ranging from 8 to 18 yuan. These ice creams at h...
2022-07-0510 minChina Business NOWCBN丨China’s manufacturing, services activity expands for 1st time in 4 monthsHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s June factory and service activities bounce back to expansion territory for the first time in four months;-Price hike of domestic fuel prices will be suspended if global oil prices go over $130.Here’s what you need to know about China in the past 24 hours 中国经济要闻China’s economic recovery continued in June, data released on Thursday showed, with activity in both the manufacturing and services sectors expanding f...
2022-07-0509 minChina Business NOWCBN丨China has full confidence to deal with unexpected economic changes: NDRCHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -An NDRC official said China has full confidence in overcoming difficulties, in response to a question on the country's 5.5-percent GDP growth target;-The first batch of ETFs to be included in the Hong Kong-mainland Stock Connect program will start trading on July 4.Here’s what you need to know about China in the past 24 hours 中国经济要闻China can cope with unexpected risks this year to achieve its GDP growth target of ar...
2022-06-3008 minChina Business NOWCBN丨PBOC to keep policy supportive for China economyHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -PBOC's governor pledged to accommodate monetary policy to support economic recovery;-China changes Covid-19 quarantine rules in first step towards easing border controls.Here’s what you need to know about China in the past 24 hours 中国经济要闻The People’s Bank of China (PBOC) pledged to maintain a supportive monetary policy to aid the economy’s recovery from Covid outbreaks and other stresses. "This year, we face some downward pressu...
2022-06-2908 minChina Business NOWCBN丨Tourism consumption sees strong rebound for summer travel seasonHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Summer tourism bounces back as effective epidemic control boosts confidence in leisure consumption; -China's industrial profits see narrowed decline in May.Here’s what you need to know about China in the past 24 hours 中国经济要闻It’s graduation time and as a reward many high school and university graduates choose to treat themselves to a celebratory trip before starting their next big stage in life. This year, spending per student has surged by 21 percent year...
2022-06-2809 minChina Business NOWCBN Friday Special丨High hope for summer box office as pandemic wanesS: Hi everyone. Welcome to CBN Friday Special. I’m Stephanie LI.T: Hi, I’m Themis.S: Hey Themis, I heard that you have been to the cinema last night. Did you enjoy it?T: I did. It was great! The cinema was quite full, and I enjoyed watching a film with more fellow audience, especially after the past few months when many movie theatres were closed or open with a limited capacity due to pandemic control and prevention.S: Indeed, more people return to the cinema as the coronavirus outb...
2022-06-2708 minChina Business NOWCBN丨Purchase tax exemption to extend for NEVsHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -The State Council considers extending purchase tax exemption for NEVs to boost sales;-Top meeting calls for strengthened regulation on online payment businesses.Here’s what you need to know about China in the past 24 hours 中国经济要闻China is increasing support to boost car consumption, according to an executive meeting of the State Council, the country's cabinet, on Wednesday.To further unleash the potential of automobile consumptio...
2022-06-2408 minChina Business NOWCBN丨China roll out funds to support entrepreneurship of college gradsHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Lottery funds will be used to support innovation of college graduates in a bid to address employment challenges;-Guangdong province activates top emergency response for flood.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's Ministry of Finance and Ministry of Education jointly issued a notice on Tuesday to standardize the management for utilizing the Lottery Public Welfare Fund to support the innovation and entr...
2022-06-2307 minChina Business NOWCBN丨BRICS partnership stands strong amid global challengesHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -The 14th summit of BRICS will be held this week in Beijing, championing multilateralism;-China encourages renminbi settlement in new models of foreign trade.Here’s what you need to know about China in the past 24 hours 中国经济要闻The 14th summit of BRICS, an emerging-market group that includes Brazil, Russia, India, China and South Africa, will be held this week in virtual format under the theme of "Foster High-quality BRICS P...
2022-06-2207 minChina Business NOWCBN丨China’s 618 shopping festival shows rebound of consumptionHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -618 promotion mirrors rebound of China's consumption after curbing Omicron wave;-China’s State Council appoints principal officials of sixth-term HKSAR government.Here’s what you need to know about China in the past 24 hours 中国经济要闻Major Chinese e-commerce platforms have reported record sales during this year's just-ended “618” shopping festival, which ran for the past 18 days and concluded Sunday, shrugging off concerns that consumer demand is "faltering" amid the continuous impa...
2022-06-2209 minChina Business NOWCBN Friday Special丨New Oriental combines shopping and Engish learningS: Hello, welcome to CBN Friday Special. I’m Stephanie LI.T: Hi, I’m Themis.S: Hey, Themis, have you imagined learning English while shopping online?T: Oh, you must be talking about the now phenomenal live-stream by New Oriental Education & Technology Group called “Dongfang Zhenxuan”, or Oriental Select, which has been on the headline and our social media for the past week.S: Yes. New Oriental has found a new way to boost sales for its live-streaming business by bringing English tutoring back. The former Chinese after-class tutoring giant drew att...
2022-06-2009 minChina Business NOWCBN丨China's home prices continue to ease in MayHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China's home prices in 70 large and medium-sized cities continued the downward trend in May;-Shanghai’s Disneytown and a hotel reopen today, while the main park remains closed.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's home prices continued to fall for a ninth month in May, official data showed on Thursday, though the pace of decline slowed, showing a still fragi...
2022-06-1708 minChina Business NOWCBN丨China's industrial output rebounded in MayHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 - The industrial output was up 0.7% in May, as the economy emerges from epidemic woes;- China released sweeping plan to build Guangzhou’s Nansha into a "major strategic platform" for global cooperation.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's May industrial production expanded 0.7 percent year-on-year, reversing a drop of 2.9 percent in April, indicating strong signs of rebound and resilience of the world's second-largest...
2022-06-1609 minChina Business NOWCBN丨China steps up management of local government debtHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -The State Council steps up management of local government debt in an effort to ease risks;-China accounts for 30% of global manufacturing output in 2021.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's State Council on Monday unveiled the guidelines of a fiscal reform for governments below the provincial level to strengthen the management of local debt while improving a debt quota mechanism.Ch...
2022-06-1508 minChina Business NOWCBN丨New Oriental “on fire” again after it started bilingual online salesHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 - Yu Minhong steps up the New Oriental live-streaming game with bilingual sales; - Chinese celebrity entrepreneur Luo Yonghao announced to quit all social platforms. Here’s what you need to know about China in the past 24 hours 中国经济要闻Many Chinese consumers didn't expect that they could learn English while going shopping online, but the recent popular live-streaming by New Oriental proves otherwise. The bilingual hosts, provided by the live commerce pla...
2022-06-1408 minChina Business NOWCBN Friday Special丨Nostalgic online concerts on short video marketS: Hello, everyone. Welcome to CBN Friday Special, I’m Stephanie Li.K: And I’m Kathy Jia. S: Hey, Kathy, what have you been listening to the whole morning? I heard you humming a very familiar tune...... Hmm, is it “Childhood” by the pop legend Lo Ta-yu? K: Yes! Did you watch his concert on WeChat the other day? Many of my friends shared it on WeChat Moments and sparked a wave of nostalgia, and they are all saying the same thing: the virtual concert really brought back many happy memories in their c...
2022-06-1310 minChina Business NOWCBN丨China’s export expanded 16.9% in May as epidemic outbreak wanedHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s export growth rebounded sharply in May, far exceeding market expectations;-Parts of Shanghai’s Disney Resort reopen tomorrow.Here’s what you need to know about China in the past 24 hours 中国经济要闻After a period far beat market expectations, China's export growth rate is to reach 16.9 percent in May amid the waning impact of the pandemic on logistics, production and custom clearance.In May, China's exports stood at...
2022-06-1007 minChina Business NOWCBN丨China's forex reserves rises to $3.1 trillion in May on weaker dollarHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program重点提要 -China’s FX reserve rises in May after a four-month decline; -World Bank slashes 2022 global growth forecast to 2.9%.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's foreign exchange reserve rose in May after a four-month decline, as the values of financial assets in major countries stayed mixed with the US Dollar Index falling slightly, but the long-term solid fundamentals of the Chinese economy w...
2022-06-1007 minChina Business NOWCBN丨11.9 million students attend China's national college entrance examHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 - Nearly 12 million students are taking the national college entrance exam starting today amid the third year of the epidemic;- China will broaden its science and technology sector to the outside world while pursuing its indigenous innovation.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's national college entrance examination, or gaokao, is held on June 7 and 8 on hot summer days. This year also marks the 45th anni...
2022-06-0808 minChina Business NOWCBN丨Travel activities in China pick up on Dragon Boat FestivalHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 - China raked in 25.82 billion yuan in revenue from domestic tourism during the Dragon Boat Festival holiday;- Three astronauts of Shenzhou 14 successfully entered the Tianhe core module on Sunday afternoon.Here’s what you need to know about China in the past 24 hours 中国经济要闻China on Friday kicked off the three-day Dragon Boat Festival holiday, with many places across the country seeing a significant rebound in travel and other holiday activities from th...
2022-06-0708 minChina Business NOWCBN丨Government relaxes tourism restrictions for Dragon Boat festivalHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Chinese provinces resume inter-provincial group tours ahead of holiday to boost tourism;-4 killed, 41 injured after earthquake hits China's Sichuan province. Here’s what you need to know about China in the past 24 hours 中国经济要闻The Ministry of Culture and Tourism has loosened tourism restrictions to help boost the sector's recovery during the Dragon Boat Festival holiday from Friday to Sunday. The ministry said in a notice released on Tuesday tha...
2022-06-0607 minChina Business NOWCBN丨Shanghai “reboots” as production and life fully resume normal todayHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要-Shanghai resumes normal production and life today; -A closer look at the details of China’s 33-measure stimulus package announced on Tuesday.Here’s what you need to know about China in the past 24 hours 中国经济要闻China has mounted a full-fledged battle to stabilise its economy, as all levels of governments - from the State Council, the cabinet to ministries to local governments - raced to implement a sweeping set of 33 measures aimed...
2022-06-0608 minChina Business NOWCBN丨China’s cabinet outlines 33 measures to stabilise growth amid testsHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -The State Council releases a 33-measure plan to stabilise the economy;-China’s factory activity ebb slows in May as COVID-19 wanes.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's manufacturing purchasing managers' index (PMI) fell at a slow speed in May due to the effective control of COVID-19 flare-ups combined with supporting policies, although it remained below the 50-point mark that separates growt...
2022-06-0608 minChina Business NOWCBN丨Shanghai enacts 50-measure post-lockdown action planHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Shanghai takes 50 measures to support economy as city eyes full recovery from COVID-19 from Wednesday；-Hong Kong-Mainland ETF Connect may start in two months.Here’s what you need to know about China in the past 24 hours 中国经济要闻Shanghai authorities on Sunday sent a clear signal of economic stabilisation by rolling out a total of 50 stimulus measures to support the local economy, with a focus on business resumption and employment stabi...
2022-05-3109 minChina Business NOWCBN Friday Special丨Camping and museum tours: The new chic in ChinaS: Hi everyone. Welcome to CBN Friday special, I am Stephanie LI.R: And I am ZHANG Ran.S: Ran, the Dragon Boat Festival is only a week away, have you decided where to spend your three-day holiday?R: Yeah, I am so excited about it. I’ve planned to go camping with my friends in the Conghua district in Guangzhou. Imagine that we set up a tent on the green grass lawn, prepare food for the barbecue, walk beside the stream and embrace the sun...Oh, I can’t wait for my holid...
2022-05-3010 minChina Business NOWCBN丨China’s central bank called on banks to boost lendingHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -The central bank and top banking regulator urged banks to increase lending to small businesses citing increasing downward pressure on economy;-China allows deferred housing provident fund payments amid epidemic.Here’s what you need to know about China in the past 24 hours 中国经济要闻Chinese authorities have pledged to increase credit issuance and enhance financial support for key businesses and fields as the economy’s downward pressure continues to increase...
2022-05-2608 minChina Business NOWCBN丨China pours on additional 140 billion yuan in tax reliefHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -State Council announces 33 comprehensive measures to stabilise economy;-Airbnb plans to close domestic business in China due to increasing costs and COVID impact.Here’s what you need to know about China in the past 24 hours 中国经济要闻China on Monday rolled out a broad package of 33 measures to support businesses and stimulate demand, as it seeks to ensure that the economy returns to a normal track and offset the damage from Covid loc...
2022-05-2607 minChina Business NOWCBN丨China's stable economic growth is of great significance to global recoveryHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Davos 2022 returns after a two-year break;-China will encourage qualified digital cultural companies to go public in a bit to promote the digitalisation in the culture sector.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's stable economic growth is of great significance to global recovery, and "what happens in China, of course, has (a) huge impact on the rest of the world, and vice versa," Worl...
2022-05-2407 minChina Business NOWCBN Special丨Does spring come for gaming industry as new licenses “unfroze” ？S: Hello, everyone. Welcome to CBN Friday Special, I’m Stephanie Li.R: And I’m Zhang Ran.S: Hey, Ran, I remember that you like to play mobile games, right?R: Yes, I always enjoy playing games in my leisure time, because they give me chances to experience different lives and stories. For example, recently I’ve been fascinated by a game called “Master of Pottery,” in which I can not only design and make my unique pottery works, but also run an exhibition hall of my own. It’s so funny and relaxing...
2022-05-2310 minChina Business NOWCBN丨Chinese Premier calls for new measures to keep economy stableHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Chinese Premier called for more methods to stabilize the market and employment as economy shows signs of slowing;-The MIIT makes another signal that the government will stand by small enterprises amid the coronavirus battle.Here’s what you need to know about China in the past 24 hours 中国经济要闻Chinese Premier Li Keqiang called on local officials to increase the sense of urgency and take as many feasible new measures as possi...
2022-05-2307 minChina Business NOWCBN丨China's top political advisor offers major boost for internet firmsHi everyone. I’m ZHANG Ran.大家好，我是主持人张然。Coming up on today’s program.重点提要 -Special meeting of China’s top political advisory body reaffirms support for digital economy;-More cities in China recorded declines in home prices in April compared to last month.Here’s what you need to know about China in the past 24 hours 中国经济要闻China will support the sound and sustainable development of the digital economy and support digital enterprises to list in domestic and overseas capital markets, senior Chinese...
2022-05-2308 minChina Business NOWCBN丨Policy relaxation intensifies on real estate sector to inject confidenceHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -Dawn appears for the property sector after over 36 local governments released policy relaxation since May;-China cut over 880 million yuan of financial burden of enterprises in the past five years.Here’s what you need to know about China in the past 24 hours 中国经济要闻A total of 36 Chinese cities introduced policies to support the property market within the first 15 days in May, according to incomplete statistics, indicative of poli...
2022-05-2308 minChina Business NOWCBN丨China's industrial output and retail sales drop in AprilHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China's April industrial output and retail sales plummet amid COVID-19 resurgence;-Central bank moves to cut mortgage rates by 20 basis points to accelerate home sales.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's April industrial production contracted by 2.9 percent year-on-year, while retail sales were down 11.1 percent, as effects of Omicron flareups' disruptions on the economy further deteriorated.Industrial pr...
2022-05-1708 minChina Business NOWCBN Friday Special丨Long V.S. short: A war between Chinese video platformsS: Hello, everyone. Welcome to CBN Friday Special, I’m Stephanie Li.R: And I’m ZHANG Ran. So, Stephanie, what were you watching on your phone earlier?S: I was trying to figure out where I can watch this popular TV series "Zhen Huan Biography" for my weekend. R: That’s a classic! So did you find it on the internet?S: Not really, but I did find something interesting. There’re more derivative works, or the so-called "video commentary," than the original series. For example, on the short video platform Douyi...
2022-05-1606 minChina Business NOWCBN丨China's CO2 emission down 34% in past decadeHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 - China’s economic growth hit 114 trillion yuan last year, while CO2 emissions per unit of GDP fell by 34 percent over the past decade;- State Council decided that fiscal and monetary policies should prioritise employment.Here’s what you need to know about China in the past 24 hours 中国经济要闻China’s economic development and the ecological environment have been greatly improved over the past decade, officials said at a press conference held by...
2022-05-1307 minChina Business NOWCBN丨China to make better use of structural monetary policy toolsHi everyone. I’m Stephanie LI.大家好，我是主持人李莹亮。Coming up on today’s program.重点提要 -China’s central bank vows to use multiple policy tools and prioritise stability in complex and uncertain environment;-The NDRC maps out measures to develop a $3.28 trillion bio-economy by 2025.Here’s what you need to know about China in the past 24 hours 中国经济要闻The People's Bank of China (PBC), the country's central bank, on Monday said full play should be given to the guiding roles of structural monet...
2022-05-1107 min