A Chinese state fund, which was launched in 2014 to transform research results into business ventures, has reached 62.4 billion yuan (US$8.7 billion), according to state media, as Beijing leans on a top-down “whole-country” approach in its bid for technological self-sufficiency.
Top executives from an increasing number of big-name multinational companies are planning to visit China next month, highlighting the significance of China in multinational companies' business plans, particularly amid subdued global economic prospects, experts said.
Some companies have already made such visits since the country optimized COVID-19 response and border control measures.
With Xi Jinping securing an iron grip on China’s ruling party and political economy, longstanding debates about the sustainability of the country’s astonishing growth have returned to the fore. Mounting evidence of stagnation suggests that, after coming so far, China’s authoritarian model may not be so exceptional after all.
Plowing past global anxieties over the war engulfing Ukraine, China set its economy on a course of steady expansion for 2022, prioritizing growth, job creation and increased social welfare in a year when the national leader, Xi Jinping, is poised to claim a new term in power.
China has incubated 4,762 national-level "little giant" enterprises to date, according to the Ministry of Industry and Information Technology (MIIT) on Tuesday.
"Little giant" firms are small enterprises that are still in the early stage of development and focus on the new generations of information technology, high-end equipment manufacturing, new energy, new materials, biomedicine and other high-end fields.
China’s economy will grow slower than initially expected this year owing to a “stronger-than-anticipated” pullback in public spending, the International Monetary Fund forecast Tuesday while warning that a weakening property market could bring a further blow.
The 8.0 percent prediction in the IMF’s latest World Economic Outlook report is down 0.1 percentage points from its July estimate as analysts warn China is facing a painful fallout from real estate weakness and shocks from surging coal prices and shortages.
China’s factory-gate prices rose at the highest rate in at least 25 years in September, official data showed Thursday, hit by the rising cost of coal.
The producer price index (PPI), which measures the cost of goods at the factory gate, rose 10.7 percent on-year, according to the National Bureau of Statistics.
It was the highest level on record in NBS data, which goes back to October 1996.
On the second floor of a nondescript concrete building in north-east Beijing, the Youyou internet cafe is less than half full. Quiet and dark, the cafe’s customers are all adults, sitting in brown sofas in front of screens set up for hours of comfortable online gaming.
In the last few years, the view of China as a strategic rival has taken over the American political mainstream, with leaders largely choosing confrontation over cooperation. Two features of this shift stand out: how quickly it occurred, and the extent to which Americans – and their leaders – have united behind it.
