US business leaders remain bullish about the long-term prospects of the China market, as the country vows to further open up despite headwinds.
As China published a white paper on Sunday denouncing US unilateral and protectionist measures, foreign business and trade experts said that protectionism must be avoided as it is shortsighted and will have an adverse effect on the global economy in the long run.
The Caixin China general manufacturing purchasing managers' index remained unchanged from the previous month at 50.2 in May, which analysts said signals a further marginal improvement in the health of China's manufacturing sector.
Seven ministries including the National Development and Reform Commission, China's top economic regulator, jointly issued a notice of an action plan on Monday to strengthen the domestic infant and toddler formula milk industry, with a goal to increase domestic supplies to more than 60 percent of the market.
Chinese top chipmaker Tsinghua Unigroup is consolidating its semiconductor business through reshuffling subsidiaries, including one that has spent 1.8 billion euros ($2 billion) to buy Linxens, a French smart chip components maker.
The gross domestic product of Guangdong province is estimated to surpass 10 trillion yuan ($1.45 trillion) in 2019 and the province aims to develop strategic emerging industries to realize high-quality economic development, its top government official said on Monday.
China Baowu Steel Group, the world's second largest steel-maker, is going to obtain a 51 percent stake in the listed entity of Maanshan Iron and Steel Co Ltd, or Magang, in a step that would bring Baowu closer to becoming a steel giant with 100 million metric tons of annual output, analysts said.
Five technologies - 5G, the internet of things, artificial intelligence/machine learning, robotics, and cloud computing - will come to fruition over the next decade and enable the transformation of industries throughout the Chinese economy.
SHANGHAI - On May 21, China's eastern metropolis of Shanghai started to build the country's first pilot zone for the innovation and applications of artificial intelligence.
My earliest memories of Tianjin are of a laid-back major port city in northern China famous for its Europeanstyled neighborhoods and "crosstalk" (a traditional Chinese performing art featuring two artistes having a comedic dialogue).
Studying in a container may sound ridiculous but a Chinese company is making bold innovations to build container-like classrooms, which are expected to benefit millions of students in foreign markets.
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Raymond Zhou
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