Economy

Chinese Premier Li Qiang on Tuesday called for global cooperation in various areas to rebuild global trust, including strengthening macroeconomic policy coordination and international industrial specialization and cooperation, warning that lack of trust and fragmentation will risk global economic growth and peaceful development. In a special address at the World Economic Forum (WEF) annual meeting in Davos, Switzerland, Li said …

ByteDance, the owner of TikTok, will close its music-streaming app Resso in India by month-end, following the Indian government’s request in December to Apple and Google to remove Resso from their app stores, the Global Times learned from the company and media reports. The move reflects a broader crackdown on foreign companies, especially those from China, by Indian authorities. Experts …

China posted a GDP growth of 5.2 percent for 2023 on Wednesday, successfully meeting last year’s annual target and in line with market forecast. The world’s second-largest economy is now at 126 trillion yuan ($17.67 trillion) and an official with the National Bureau of Statistics (NBS) projected that China was the world’s largest growth engine for the past year. In …

China and Switzerland have completed the joint feasibility study on upgrading the China-Switzerland Free Trade Agreement (FTA) and agreed to support the early launch of formal FTA upgrade negotiations, the two sides announced on Monday during talks between Chinese Premier Li Qiang and President of the Swiss Confederation Viola Amherd in Bern, Switzerland. China also announced it will waive visa …

China’s National Bureau of Statistics is due to release the country’s GDP data for 2023 on Wednesday. While there seems no doubt about whether China’s GDP met the government’s annual target in 2023, a new wave of Western speculation about China’s “grim” economic prospects has unfolded. Indeed, it is not the first time to see Western public opinions generally express …

Kathmandu, Jan 10: Finance Minister Dr Prakash Sharan Mahat has invited investors of India and other countries to participate in the Investment Summit scheduled to be held on April 28 and 29 in Kathmandu. He also urged them to invest in energy, tourism and agriculture sectors of the country. Addressing heads of the nation, ministers and investors of different countries …

Mahendranagar, Jan 9: Minister for Foreign Affairs, Narayan Prakash Saud, has said an understanding has been recently reached between Nepal and India to forward procedural activities of Pancheshwor project within a month. Sharing the information that minister-level discussion was held about the project during the recent visit of the External Affairs Minister of India, Minister Saud mentioned that decision was …

Kathmandu, Jan 7: Nepal and India have held important discussions and agreed on eight various topics on energy sector. The 11th meeting of Nepal-India Energy Secretary level Joint Steering Committee that concluded in Chitwan today has agreed on especially the topic of strengthening the electricity transmission system. Nabin Raj Singh, Joint Secretary at the Ministry of Energy, Water Resources and …

US electric vehicle (EV) maker Tesla will recall around 1.62 million EVs out of safety concerns in the Chinese market, the market regulator said on Friday. A total of 1,610,105 imported Model S, Model X, Model 3 and domestic-made Model 3 and Model Y EVs manufactured between August 26, 2014 and December 20, 2023 are to be recalled due to …

China’s central bank and top financial regulator on Friday issued a guideline on stepping up financial support for the housing rental market, vowing to offer more innovative credit products and services for housing rentals and to expand financing channels for the housing rental market. The guideline from the People’s Bank of China (PBC) and the National Administration of Financial Regulation …