Business

BEIJING / WAM China’s vehicle sales surged 47.9 percent year on year in January 2024 to nearly 2.44 million units, according to the China Association of Automobile Manufacturers. Xinhua News Agency quoted the association as saying that the country’s vehicle output last month increased by 51.2 percent year on year to 2.41 million units. Specifically, passenger car output and sales ...

HANOI / WAM Despite a challenging global economic landscape, Vietnam continues to stand resilient as one of the top 10 recipients of overseas remittances worldwide, with an estimated $14 billion last year, according to the World Bank’s Migration and Development Brief and the Global Knowledge Partnership on Migration and Development (KNOMAD). Breaking records on its own, Ho Chi Minh City ...

HANOI / WAM Vietnam’s tourism industry stands at the threshold of a remarkable milestone, with experts asserting that an impressive figure of 14-15 million foreign visitors could be achieved this year, according to the state news agency (VNA). A recent survey conducted by Vietnam Report JSC has unveiled an optimistic outlook, with 66.7% of businesses in the tourism and hotel ...

BEIJING / WAM China has been stepping up its efforts to maintain a stable area of wetland with emphasis on protection and systemic governance, according to the National Forestry and Grassland Administration (NFGA). Friday marked the 28th World Wetlands Day with the theme “Wetlands and Human Well-being,” which highlights the interconnectedness between wetlands and various aspects of human well-being. According ...

HONG KONG / WAM The number of the Chinese mainland and overseas companies that received assistance from the government’s investment wing to set up or expand their business in Hong Kong reached 382 in 2023, representing about 27 percent of year-on-year increase. The total investment brought to Hong Kong’s economy reached HK$61.6 billion and created more than 4,100 job opportunities ...

BEIJING / WAM The total value of imports and exports in the Yangtze River Delta region, China’s foreign trade hub, reached 15.17 trillion yuan ($2.14 trillion) in 2023, data from China’s State Administration of Foreign Exchange (SAFE) showed. The figure released indicated a rise in the region’s contribution to the country’s overall import and export value, which now accounts for ...

SHANGHAI / WAM Shanghai is set to double efforts to open up and accelerate the growth of its financial sector through various measures. In a statement, Gong Zheng, Mayor of Shanghai, affirmed that Shanghai will play a better role as a pioneer for the steady expansion of institutional opening-up in the financial sector in the New Year. Relying on key ...

BEIJING / WAM The combination of Tianzhou-7 cargo spacecraft and Long March-7 Y8 carrier rocket was rolled out to the launchpad in Wenchang Space Launch Site in South China’s Hainan Province. All facilities in the Wenchang spaceport are in good conditions and testing work is underway for the first China Space Station mission in 2024, the Global Times learned from ...

BEIJING / WAM China’s auto production and sales surpassed 30 million units for the first time in 2023, retaining the country’s leadership as the world’s largest car market for the 15th consecutive year, People’s Daily reported. According to recent data released by the China Association of Automobile Manufacturers (CAAM), automobile sales in China reached a total of 30.094 million units, ...

BEIJING / WAM As China’s 2023 Central Economic Work Conference emphasised boosting foreign trade, the country plans to promote new growth engines in 2024 amid global headwinds. “The unstable momentum and insufficient driving force of the global economic recovery have led to sustained weakness in external demand, which is the main factor affecting the trend of foreign trade,” People’s Daily ...