Economy

Data from China Tourism Academy showed that the number of domestic tourist trips is expected to exceed 6 billion in 2024, with the total number of inbound and outbound tourist trips expected to exceed 260 million. Last year saw a significant rebound in China’s tourism economy, with the number of domestic tourists and income set to more than double year-on-year, …

Sustained capital market recovery in Year of the Dragon widely expected Chinese equities ended up higher on Thursday, the last trading day of the Year of the Rabbit, marking the third consecutive day that the market stretched a rally after short-term volatilities. The total daily turnover of the Shanghai and Shenzhen bourses reached nearly 1.02 trillion yuan ($141.75 billion) on …

Chinese stocks on Tuesday have reportedly recorded the biggest gain in 14 months, reversing some of the losses after a straight six-day dip and a spiraling January, with the benchmark Shanghai Composite Index rebounding 3.23 percent to close at 2789.49 points, and the Shenzhen Component Index and ChiNext Index all soaring over 6 percent. The recovery comes as state-owned Central …

The Chinese mainland stock market surged on Tuesday as securities regulators ramped up efforts to stabilize market expectations and confidence through various regulatory measures, which may present a rare opportunity for foreign capital to return to the market. Aimed at maintaining financial stability, these regulatory efforts will further serve China’s long-term goal of promoting high-level financial openness. Several Chinese brokerages, …

Kathmandu, Feb 7: Minister for Finance Dr Prakash Sharan Mahat asserted that the country’s economy was returning to normalcy. At an interaction organized by Economic Media Association Nepal (EMAN) marking its first anniversary here today, Minister Mahat reiterated that country’s economy was moving in the positive direction. “A lot of money was spent in unproductive sector in the past. The …

S&P Ratings (China) Co has been warned and fined 2.12 million yuan ($300,000) for not conducting credit rating business in accordance with legal procedures, China’s central bank announced on Friday. S&P Ratings (China) Co has been issued a warning and fined 2.12 million yuan. Eastham, the director of the company’s rating analysis at the time, has been warned and fined …

The US appears to be increasingly inclined to use non-market means to dodge market competition. An addiction to this approach may backfire. US Commerce Secretary Gina Raimondo warned that Chinese-made electric vehicles (EVs) pose significant national security risks, as the Biden administration weighs additional tariffs on autos from the Asian country as well as a separate measure to protect Americans’ …

Framing business, technological competition in military context ‘dangerous’ China’s Foreign Ministry on Thursday slammed a move by the US Defense Department to add a dozen Chinese companies to a blacklist on the excuse of prohibiting American technologies from aiding the Chinese military. The ministry urged the US to immediately correct its discriminatory practices and provide a fair, just and non-discriminatory …

Kathmandu, Jan 30: The logo and title of the third investment summit that Nepal is hosting on coming April 28 and 29 have been finalised. The event has been named ‘Emerging Nepal Summit- 2024’, according to the Summit Secretariat. The second meeting of the Investment Summit Steering Committee decided the title of the event, according to Secretariat joint-secretary and Investment …

Kathmandu, Jan 30: Minister for Foreign Affairs Narayan Prasad Saud said that they were ready to welcome Korean investors and entrepreneurs in a large number in the upcoming third Investment Summit. Nepal is hosting the Summit in Nepal on coming April 28 and 29. At a programme organized to mark the 50th anniversary of establishment of diplomatic relations between Nepal …