It is imperative that commercial banks conduct digital innovation and transformation, as emerging fintech companies are eroding bank profits in their core business such as payments, consumer lending and wealth management, McKinsey & Company said in its latest banking industry report.
The central leadership's call for more efforts to accelerate the commercial use of 5G networks will inject new vitality into China's ongoing manufacturing upgrade push, analysts said on Tuesday.
As 2018 draws to an end, China's imports are expected to surpass $2 trillion, a record high.
Editor's Note: This year marks the 40th anniversary of China's reform and opening-up. China Daily interviewed top executives of well-known multinational companies for their views on the country's socioeconomic development.
Please use three words to describe China's changes in the past 40 years.
China will adjust duties on 706 import items from aircraft engines to pianos and baby's diapers from next year, the Ministry of Finance announced on Monday.
The nation will accelerate the development of pilot free trade zones and ports via policy innovation and adequately expand their size to advance all-round opening-up in 2019, said commerce officials.
China is embracing a larger role in the global sports world as a Chinese company is poised to acquire the company that owns one of the most iconic brands associated with the US pastime of baseball: the Louisville Slugger baseball bat.
Foxconn Technology Group, the biggest assembler of Apple Inc's iPhones, is ramping up its efforts in the semiconductor and chipmaking sector, in a bid to wean itself off its heavy reliance on manufacturing smartphones and diversify into new areas as the global smartphone market slows down.
It has been a tough year for Jia Wei as he saw his air-purifier business go up in smoke literally, as revenues plunged 70 percent to roughly 1.4 million yuan ($203,037) from 4 million yuan a few years ago, while new orders are fast drying up.
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