China builds brighter prospects for processing trade

China builds brighter prospects for processing trade

By Wang Wenzheng China’s Ministry of Commerce and nine other government departments recently rolled out a guideline to improve the development of the processing trade. The guideline puts forward 12 measures across six categories, outlining a blueprint for creating a “2.0 version” of China’s processing trade. Compared to general trade, the processing trade sector imports…

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U.S. small yard, high fence strategy will eventually backfire

U.S. “small yard, high fence” strategy will eventually backfire

By Zhong Sheng, People’s Daily The United States’ domineering and coercive practices in technology are continuing escalating. The U.S. Department of Commerce recently announced an investigation into the semiconductor supply chain and national defense industrial base in the name of reducing national security risks, to assess the extent of their reliance on Chinese chips. It…

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China's first domestically-made large cruise ship

China’s first domestically-made large cruise ship makes commercial maiden voyage

By Liu Shi’an, Shen Wenmin, People’s Daily China’s first domestically-built large cruise ship, the Adora Magic City, bathed in the morning sunlight on the first day of 2024, was docked at the Shanghai Wusongkou International Cruise Terminal, awaiting its commercial maiden voyage. Thanks to optimized customs and border inspection procedures, it would take less than…

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China continues to improve business environment for stronger economic vitality

By Zou Xiang, People’s Daily U.S. biotechnology company Moderna recently set up a company in Minhang district, Shanghai. Moderna’s agent lawyer obtained the business license just an hour after relevant authorities received the final document required for business registration. “Minhang’s efficiency has secured crucial development time for the company,” the lawyer said. From coastal to…

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