BEIJING, June 5 (Xinhua) -- China's weeks-long mid-year online shopping event got off to a steady start amid business resumption and pro-growth policy incentives, which analysts believe can help boost consumption as COVID-19 impacts wear thin.The annual shopping bonanza, featuring promotional campaigns at multiple e-commerce platforms, kicked off on June 1. Many online retailers said sales took off in the beginning hours, especially on upscale big-ticket items.The first 4 hours of JD.com's campaign saw sales of gaming television top that of last June as a whole, while sales of smartpho...
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BEIJING, June 5 (Xinhua) -- China will make the unimpeded and stable operation of its industrial and supply chains a top priority, as it looks to revive its industrial economy after flare-ups of COVID-19 in recent months.The industrial sector is the backbone and growth engine of the Chinese economy, said the Ministry of Industry and Information Technology (MIIT) in a recent video teleconference on shoring up the industrial economy. It vowed incremental efforts in policy implementation to ensure reasonable expansion in the industrial sector in the second quarter of the year.Recent official data...
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Xinhua News Agency, Brussels, May 31 (Reporter Kang Yi) The preliminary statistics released by Eurostat on May 31 show that due to the conflict between Russia and Ukraine, the energy market continued to be turbulent and food prices soared. In May, the inflation rate in the euro zone reached an annual rate of 8.1%, a record high again.Data show that energy prices in the euro zone rose by 39.2% year-on-year in May, which was the main reason for pushing up inflation in that month; Food, tobacco and alcohol prices rose by 7.5%; The price of non-energy industrial products rose by 4.2%; The service ...
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The institutional opening of China's bond market has taken another important step. The People's Bank of China, China Securities Regulatory Commission and Foreign Exchange Bureau recently issued Joint Announcement [2022] No.4 (on matters related to further facilitating foreign institutional investors' investment in China's bond market) (hereinafter referred to as the Announcement), to promote the opening of the inter-bank and exchange bond markets to the outside world as a whole. According to the Announcement, the scope of foreign institutional investors allowed to enter the mar...
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BEIJING, May 30 (Xinhua) -- As the fallout of COVID-19 continues to weigh on the world's second-largest economy, China's banking sector has ratcheted up support measures to boost the economy, channeling funds to where they are needed the most.In times of increasing downward pressure, financial institutions, as a supporting force for growth, are expected to step in and energize firms while implementing pro-growth measures, analysts said.RELIEF POLICIES RENEWEDAt a State Council executive meeting earlier this month, China's policymakers announced a new package of 33 measures to stimu...
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