Business News

China’s Ping An Insurance Group said on Wednesday that the company has never received any requests from Chinese authorities to acquire cash-strapped property developer Country Garden and take over its debt, refuting a recent report by Reuters.

As the 2023 World Internet Conference Wuzhen Summit starts on Wednesday, industry observers bet generative artificial intelligence (AI) will be a heated topic during the event as a global frenzy for the pace-setting new technology has persisted, ignited by the popular ChatGPT developed by OpenAI.

The Convention?Abolishing the Requirement of Legalization for Foreign Public Documents, or the Apostille Convention, entered into force in China on Tuesday, which, according to Chinese diplomatic officials, will greatly reduce the time and economic cost of cross-border transfer of Chinese and foreign documents, and further optimize China's business environment. On March 8, China acceded to the 1961 Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents. On Tuesday, the Chinese Foreign Ministry held a ceremony to mark the implementation of the convention in China.

A worker manufactures high-performance copper and aluminum foil material for export on November 7, 2023 in Huzhou city, East China’s Zhejiang Province. The enterprise has taken advantage of the Belt and Road Initiative to integrate more closely with the international market, while consistently elevating production quality. Photo: VCG

The Chinese mainland, Hong Kong and Macao have signed a tripartite memorandum of understanding (MOU) to link each other's fintech supervision tools, in a bid to deepen exchanges and cooperation in financial technology innovation, and promote the development of digital finance in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

The total output value of China's animation industry is expected to exceed 300 billion yuan ($41.2 billion) in 2023, showcasing the sector’s considerable economic gains and market prospects, said Ma Li, president of China Animation Association on Wednesday during a parallel forum covering culture and finance during the ongoing 2023 Annual Conference of Financial Street Forum.

Trade between China and Australia reached $189.88 billion from January to October, up 4 percent year-on-year, according to statistics from the General Administration of Customs (GAC).

Another round of promotions for the annual Double 11 shopping festival kicked off on Friday amid an ongoing shopping spree as China’s e-commerce platforms had already launched sales events by the end of October.

Foreign trade in China-Mongolia port and border city Ceke in North China’s Inner Mongolia Autonomous Region hit historical heights in 2023, as cross-border trade was continuously upgraded by the Belt and Road Initiative (BRI).

The “Double 11” shopping festival in China has been held 15 times since 2009 and has evolved from a flash sale event with a few participating brands to a window reflecting China's overall consumption vitality and habits. According to data from major Chinese shopping platforms, domestic brands were highly popular with consumers during the 2023 Double 11 shopping festival.

Along the 1.86-kilometer route connecting Chinese and Mongolian stockyards, several autonomous driving trucks are operating back and forth between coal terminals, one of the most-traded commodities between the two countries.

Chinese Commerce Minister Wang Wentao met with Japanese Trade Minister Yasutoshi Nishimura in San Francisco, the US, where the two sides agreed to set up a dialogue mechanism for export controls and a working group for improving the business environment, the Ministry of Commerce (MOFCOM) said on Thursday.

The BeiDou Satellite Navigation System (BDS), China’s domestically developed global satellite navigation system, has been accepted by the UN's International Civil Aviation Organization (ICAO), following an annex of an international convention including the standard and recommended measures of the BDS, according to the Civil Aviation Administration of China (CAAC).

A wide selection of Chinese defense products, including fighter jets and drones, are on offer to international customers at an ongoing aviation expo in the Middle East. Military experts expect Arab countries to show a strong interest in weapons and equipment from China amid restrictions from other suppliers.

Hong Kong possesses all the ingredients to become an international innovation and technology (I&T) center and within one or two years, fruitful scientific results are expected, said Timothy Tong Wai-cheung, chairman of the Hong Kong Laureate Forum.

China’s photovoltaic (PV) companies have contributed significantly to the ongoing global clean energy shift and are gearing up to accelerate the great transformation, said industry players and experts, noting that Chinese companies now hold a global edge in the transition, supported by the country’s complete industrial value chain.

Luxshare, one of Apple's largest Chinese component and finished product makers, is shifting its new investment of $330 million to Vietnam from India, where it failed to expand its business, according to media reports.

Apple retailers are still offering excellent discounts on all kinds of products, from Macs and iPads to external storage, perfect for last-minute gift buying.

Google Play has been deemed an anticompetitive market by a San Francisco jury in a huge win for Epic Games.

Hasbro owns Wizards of the Coast, which is the team behind Dungeons & Dragons, Magic: The Gathering, and more.