Browsing: China

Amidst economic slowdown and a downturn in business sentiment, China has established a conservative official growth target of approximately five percent for the current year. Premier Li Qiang, delivering his work report at the National People’s Congress (NPC), pledged to generate 12 million jobs, striving to maintain the surveyed urban unemployment rate at around 5.5 percent. The week-long NPC session, attended by President Xi Jinping and over two thousand delegates, concentrates on vital initiatives to fortify the second-largest economy following the post-COVID-19 deceleration.

Mubadala Investment Company and Goldman Sachs have signed a $1B separately managed account (Partnership) to co-invest in private credit opportunities across the Asia Pacific region. Private Credit at Goldman Sachs Alternatives will manage the Partnership, with a dedicated team on the ground in multiple Asia Pacific markets.

China is shifting away from traditionally energy-intensive industrial sectors towards green development across key sectors, aiming to reach its peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060, as reported by China Central Television.

China sustained a fundamental equilibrium in its international payments last year, with the State Administration of Foreign Exchange (SAFE) reporting a current account surplus of $264.2B on Sunday.

Shanghai and Dubai are the top three wealthiest cities in the recently expanded BRICS bloc, determined by the number of millionaires, centi-millionaires, and billionaires in each city.

China’s artificial intelligence (AI) sector is poised for significant growth in the next 10 to 15 years, projecting a market scale of 1.73T yuan ($240.4B) by 2035, making up 30.6 percent of the global total, as reported by China Daily referencing a new study from market research firm CCID Consulting.

In 2023, China experienced remarkable growth in the production and sales of new energy vehicles (NEVs), consolidating its global leadership in the electric mobility sector.

The onset of winter has ignited a surge in ice and snow tourism throughout China, particularly in the colder northern regions.

The forthcoming lunar mission by China, Chang’e 6, is set to achieve a historic first by landing on the far side of the moon to gather samples in the initial half of 2024.

Shenzhen has officially opened China’s groundbreaking urban air mobility (UAM) demonstration complex, marking a significant advancement for airborne sightseeing services, according to a report by China Daily.