China's economy grew 4.8 percent year on year in the first quarter (Q1) of 2022 despite challenges from an increasingly complex international environment and resurgences of COVID-19 cases at home.Here are some highlights of the Chinese economy in Q1 as China balanced the epidemic control and economic and social development.-- The country's gross domestic product picked up pace from a 4-percent increase in the fourth quarter last year.-- China's value-added industrial output, an important economic indicator, went up 6.5 percent year on year in Q1.The output of the manufacturing sect...
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CHICAGO, April 17 (Xinhua) -- China's economy continues to have massive growth potential, a U.S. scholar has said.'I feel quite optimistic about the country realizing its potential,' Khairy Tourk, professor of economics with the Stuart School of Business at the Illinois Institute of Technology in Chicago, told Xinhua.The Chinese economy prioritizes long-term structural growth over the short-term, he said. 'That's one reason why the country's leadership considers saving lives more important than short-term GDP (gross domestic product) growth.'On the supply side, Chin...
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BEIJING, April 17 (Xinhua) -- China Export and Credit Insurance Corporation (Sinosure) has stepped up support for the country's green industries by providing more export credit insurance, the company said.Since the start of 2021, the company has insured over 150 green projects, with the sum insured reaching around 7.7 billion U.S. dollars.Sinosure has also strengthened its financial support to green projects under the Belt and Road Initiative and helped domestic companies explore overseas green and low-carbon markets.Take the photovoltaic industry as an example. Sinosure has helped facilit...
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BEIJING, April 14 (Xinhua) -- Foreign auto companies have expressed optimism about the Chinese market and consider China to be among their most important overseas markets, Ministry of Commerce spokesperson Shu Jueting said on Thursday.In reference to a recent symposium attended by representatives of 17 foreign-invested auto and auto parts manufacturers, Shu said attendees were optimistic about China's long-term stable economic prospects and market potential.China has lifted foreign ownership restrictions on the auto manufacturing sector, which the representatives said provided broader deve...
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BEIJING, April 14 (Xinhua) -- China's top economic planner has issued a 15-year plan to develop the hydrogen energy industry, and experts are offering their feedback on the country's green future.China produced about 33 million tonnes of hydrogen in 2021, making it the world's largest hydrogen producer.By 2035, the proportion of hydrogen produced from renewable energy will increase significantly, according to the plan jointly released by the National Development and Reform Commission and the National Energy Administration in March.'China's hydrogen energy industry will be k...
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