Category «Economy»

Digital economy to top half of China’s GDP by 2023: IDC

People visit the China International Digital Economy Expo (CIDEE) in Shijiazhuang, north China’s Hebei Province, Oct. 11, 2019. (Xinhua/Wang Xiao) About 51.3 percent of China’s GDP would be digitalization-related by 2023 as the country’s enterprises step up digitalizing their businesses, global market intelligence firm IDC predicted. The research firm estimated that by 2025, at least …

Brazil retail sales rise for 6th month in a row

A woman walks past a store’s showcase in the city of Sao Paulo, Brazil, on Aug. 12, 2015. (Xinhua/Rahel Patrasso) Brazil’s retail sales, an engine of economic growth, rose 0.1 percent in October compared to the previous month, marking six months in a row of increases, the state statistics agency IBGE reported on Wednesday. Compared …

US’ brinksmanship over tariffs to rock markets; won’t work with China: analysts Imposing duties will hit global markets, US consumers: analysts

Photo:Xinhua Stakes are high as skittish global investors watch closely whether or not US President Donald Trump will decide to stop a fresh batch of tariffs on billions of dollars worth of Chinese goods planned for December 15 – a decision Chinese analysts say could impact ongoing trade talks for a phase one deal, as …

Has Macao’s moment come?

Compared with when it returned to China in 1999, the Macao SAR now enjoys stable social order, booming investment and trade, and more ambition to enhance its competitiveness in the financial sector. Despite the unlikelihood that Macao will compete with its neighboring financial hub Hong Kong, the city is now fired up to play a …

Macao unlikely to compete with Hong Kong Planned offshore yuan center will complement neighboring financial hub

Graphics: GT Macao has no intention of competing with Hong Kong, said government officials, as Macao reveals its ambitions to develop offshore yuan business.  Such ambitions, in a city whose economy has been dominated by gambling for years, has triggered heated discussion and led to divided opinion among economists.  Some are optimistic that the former …

Mainland to facilitate Taiwan firms’ progress

A man rides a bike past the National Development and Reform Commission in Beijing. Photo: VCG Companies from the island of Taiwan are being encouraged to participate in projects involving major technological equipment, industrial innovation centers and other activities under equal treatment in the Chinese mainland, which could facilitate their technological innovation and quality development, …