Top executives of Chinese technology company Lenovo Group issued a joint denial on Wednesday of market rumors that the company had failed to back its Chinese counterparts when they competed with global peers to set 5G standards two years ago.
A growing number of Chinese commercial banks are setting up their own financial technology companies to explore a market-driven mechanism for development of the sector.
The booth of China Telecommunications Corp is seen at an industry expo in Nantong, East China’s Jiangsu province. (Photo by Xu Congjun/For China Daily)
The competition among Chinese cities to lure talent reflects a new development philosophy that aligns with economic transformation, said Meng Wei, spokesperson for the National Development and Reform Commission (NDRC).
Car dealerships in Haikou, capital of South China's Hainan Province, saw a surge in sales on Tuesday, after regulators announced rules that suspended the registration and transfer of license plates as of midnight on that day.
Luckin Coffee, a rising Chinese coffee brand, released an open letter on Tuesday, accusing Starbucks of unfair competition and market monopoly in the Chinese market. The company also decided to file a lawsuit against the international coffee tycoon.
North China's Tianjin Municipality has announced plans to set up funds worth 100 billion yuan (15.7 billion U.S. dollars) to support the artificial intelligence industry, and a 10-billion-yuan fund to promote intelligent manufacturing.
Foreign insurers are stepping up the pace of expansion in China after the regulators loosened foreign ownership restrictions in the insurance business, which analysts said could intensify their competition with local players.
China's holdings of U.S. Treasuries grew for a second month in March to $1.188 trillion, its highest level since October, even as overall foreign purchases of Treasuries fell, data from the U.S. Treasury Department showed.
China and Norway on Wednesday completed their latest round of negotiations for a free trade agreement and "positive progress" has been made.