Shanghai

31.2
121.5

China launches high-tech aircraft carrier in naval milestone

Beijing launched a new-generation aircraft carrier Friday, the first such ship to be both designed and built in China, in a milestone as it seeks to extend the range and power of its navy.

The Type 003 carrier christened Fujian left its drydock at a shipyard outside Shanghai in the morning and tied up at a nearby pier, state media reports said.

Global stocks rise on improved Chinese services data

Global stock markets and Wall Street futures advanced yesterday after the downturn in China's service industries eased and news reports said the Biden administration might lift U.S. tariffs on some Chinese imports.

London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong advanced. Oil prices gained to stay close to $120 per barrel.

China’s factories creep back to life as Covid curbs ease

The contraction gripping China's manufacturing sector slowed in May, data showed Tuesday, as some factories gradually resumed work after the easing of strict Covid lockdowns.

The Purchasing Managers' Index (PMI) -- a key gauge of manufacturing activity -- edged up to 49.6, officials said, from April's 47.4, which was the worst reading since early 2020.

China premier issues warning on COVID-hit economy

China's premier has sounded an unusually stark warning about the world's second-largest economy, saying it must return to normal as the country's zero-Covid strategy bites into growth.    

China is the last major economy welded to a policy of mass testing and rapid lockdowns to eliminate virus clusters, but the strict curbs have battered businesses.    

Pages