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Firecrackers, consensus and festival safety

People select decorations for Spring Festival in Beijing, Jan 7, 2023. (Photo by Zou Hong /chinadaily.com.cn)On the eve of Spring Festival, on Jan 30 last year, Jishuitan Hospital in Beijing, which specializes in treating burns and external injuries, received just two patients with burn injuries fro

ChiNext Index opens lower Wednesday

BEIJING, Jan. 11 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, was down 0.14 percent to open at 2,470.64 points Wednesday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares open mixed Wednesday

BEIJING, Jan. 11 (Xinhua) -- Chinese stocks opened mixed on Wednesday, with the benchmark Shanghai Composite Index up 0.09 percent to open at 3,172.38 points.The Shenzhen Component Index opened 0.07 percent lower at 11,498.97 points.

US stocks rise as Wall Street awaits key inflation data

A trader reacts on the floor of the New York Stock Exchange at the closing bell on December 30, 2022 in New York. (Photo: AFP)NEW YORK, Jan. 10 (Xinhua) -- Wall Streets major averages rose on Tuesday as investors awaited a key U.S. inflation report.The Dow Jones Industrial Average rose 186.45 points, or 0.56 percent, to 33,704.10. The S&P 500 increased 27.16 points, or 0.70 percent, to 3,919.25. The Nasdaq Composite Index climbed 106.98 points, or 1.01 percent, to 10,742.63.Ten of the 11 primary S&P 500 sectors ended in green, with communication services and consumer discretionary up 1.29 percent and 1.26 percent, respectively, outpacing the rest. Consumer staples slipped 0.16 percent, the lone declining group.The December U.S. consumer price index is set for release on Thursday."Another report showing inflation continuing to decline, as expected, should be cheered. But if it ticks higher vs. last month, that could weigh on the market," Kevin Matras, executive vice president at Zacks Investment Research, said in a note on Tuesday.On Monday, U.S. equities gave up earlier gains to end mixed after top Fed officials reiterated a more hawkish line on the outlook for rates."We continue to believe that markets have moved too quickly to position for an inflection point in Fed policy, and that conditions are not yet in place for a sustained equity rally," cautioned UBS analysts.

Airbus delivers 661 commercial aircraft in 2022

An Airbus A350-1000 performs during the 53rd International Paris Air Show at Le Bourget Airport near Paris, France, June 18, 2019. (Photo via CGTN)PARIS, Jan. 10 (Xinhua) -- Airbus announced on Tuesday that it had delivered 661 commercial aircraft to customers in 2022."In 2022 we served 84 customers with 661 deliveries, an increase of 8 percent compared to 2021," the group said.The A320 Family was the most popular aircraft type, with 516 deliveries worldwide. However, the new flagship aircraft A350 only had 60 deliveries.Guillaume Faury, Airbus chief executive officer, said the number of commercial aircraft delivered was "obviously" fewer than target.However, Airbus registered 1,078 gross new orders in 2022, with a backlog of 7,239 aircraft at the end of December 2022."The significant order intake covering all our aircraft families, including freighters, reflects the strength and competitiveness of our product line," Faury said.In July 2022, Faury revised down the delivery goal from 720 to around 700 commercial aircraft, due to problems with the supply chain.

Egypt's annual inflation up to 21.9 pct in December 2022

Egypts annual headline inflation rose to 21.9 percent in December 2022, up from 6.5 percent in December 2021, the countrys official statistics agency reported on Tuesday.The Central Agency for Public Mobilisation and Statistics (CAPMAS) said in a statement that the monthly inflation rose by 2.1 percent, hitting 19.2 percent in November 2022."The increase in prices of basic commodities was behind the rise in the monthly inflation rate," added the agency.It said the prices of food rose by 4 percent annually in the last month of 2022, with outstanding increases in sub-categories such as fruits, dairy products and grains.According to Rashad Mohamed, an economic expert at Cairo University, the rise of inflation in December was expected due to the devaluation of the local currency and is predicted to further increase in January.The Egyptian pound on Tuesday recorded 27.6 against the U.S. dollar compared to 15.7 in March 2022 after it had been devaluated more than once by the Central Bank of Egypt.He also attributed the rise in monthly inflation to external factors such as an increase in import values caused by growing inflation in Egypts major trading partners, particularly the European Union countries.Given the Egyptians spend 40 percent of their income on food commodities, Mohamed said the inflation will negatively impact peoples daily life.

China's inbound, outbound tourism sees steady recovery

Inbound travelers go through the immigration check upon arrival at Beijing Capital International Airport, Beijing, Jan 8, 2023. [Photo:Xinhua]SHANGHAI - As China downgraded its management of COVID-19 starting on Sunday, Chinas travel platforms have seen a surge in inbound and outbound orders.In recent months, the country has made an array of active adjustments to its COVID-19 response, including 20 measures in November, 10 new measures in December, and changing the Chinese term for COVID-19 from "novel coronavirus pneumonia" to "novel coronavirus infection".The number of inbound and outbound air ticket orders on Sunday rose 628 percent year on year. Popular destinations for inbound flights are Shanghai, Nanjing, Guangzhou, Chengdu and Nanning, while the destinations of outbound tourists include more than 100 cities in 53 countries and regions, according to Tongcheng Travel, an online travel service provider.Data from Trip.com Group, formerly known as Ctrip, shows that among orders from Chinese mainland customers, flights from or for Macao, Hong Kong, Bangkok, Singapore, Kuala Lumpur and Phnom Penh have seen a significant increase in popularity since Dec 27.During the week of Jan 2 to 8, Spring Airlines flight orders from Shanghai Pudong airport to Hong Kong, Macao, Tokyo and Phuket more than doubled from the previous week.Chinas inbound and outbound tourism market saw a steady and gradual recovery at the beginning of 2023. Judging from leading indicators such as air ticket searches and travel intentions, Japan, the Republic of Korea, Thailand and Chinas Hong Kong and Macao are likely to be the first outbound tourist destinations to recover, followed by medium and long-distance markets such as West Asia and Europe, said Dai Bin, president of the China Tourism Academy.Shen Jiani, a senior researcher at the strategic research center of the Ctrip Research Institute, believes that with the adjustment of Chinas COVID response ...

US stocks rise as Wall Street awaits key inflation data

NEW YORK, Jan. 10 (Xinhua) -- Wall Streets major averages rose on Tuesday as investors awaited a key U.S. inflation report.The Dow Jones Industrial Average rose 186.45 points, or 0.56 percent, to 33,704.10. The S&P 500 increased 27.16 points, or 0.70 percent, to 3,919.25. The Nasdaq Composite Index climbed 106.98 points, or 1.01 percent, to 10,742.63.Ten of the 11 primary S&P 500 sectors ended in green, with communication services and consumer discretionary up 1.29 percent and 1.26 percent, respectively, outpacing the rest. Consumer staples slipped 0.16 percent, the lone declining group.The December U.S. consumer price index is set for release on Thursday."Another report showing inflation continuing to decline, as expected, should be cheered. But if it ticks higher vs. last month, that could weigh on the market," Kevin Matras, executive vice president at Zacks Investment Research, said in a note on Tuesday.On Monday, U.S. equities gave up earlier gains to end mixed after top Fed officials reiterated a more hawkish line on the outlook for rates."We continue to believe that markets have moved too quickly to position for an inflection point in Fed policy, and that conditions are not yet in place for a sustained equity rally," cautioned UBS analysts.

Duty-free shopping heats up in tropical province

Consumers check out perfumes at a duty-free shopping mall in Sanya, Hainan province, on Jan 1. (LUO YUNFEI/CHINA NEWS SERVICE)The offshore duty-free shopping market in Hainan province has continued to embrace a rosy sales performance following the approaching winter tourist season and the optimizati

Another 20 companies sign up for 6th CIIE

This photo taken on Nov 2, 2022 shows the west entrance of the National Exhibition and Convention Center (Shanghai), the main venue for the fifth China International Import Expo (CIIE), in East China's Shanghai. (Photo/Xinhua)A new batch of 20 exhibitors signed up for the 6th China International Imp

Role in supply chains grows

A production line of Nio in Hefei, Anhui province. (Photo by Xie Chen/For China Daily)As China moves up the value chain, the country is becoming more of an exporter than importer of intermediate goods used by manufacturers elsewhere, helping strengthen the connectivity and hence competitiveness of r

Renminbi on rebound as recovery sets

Experts highlight growth, fundamentals as onshore USD/CNY breaches 6.8Supported by China's economic recovery amid downward pressure on other economies, the renminbi's bullish momentum has become more noticeable, currency market experts said on Monday after the Chinese currency's exchange rate agains

Guangdong carbon market closes higher

GUANGZHOU, Jan. 10 (Xinhua) -- Carbon emissions allowances closed at 74.43 yuan (10.98 U.S. dollars) per tonne on Tuesday, 0.3 percent up from Monday, at Guangzhou Emissions Exchange, the largest local carbon market in China.A total of 14,353 tonnes of allowances were transacted on Tuesday, with a turnover of 1.07 million yuan.The allowances, officially known as Guangdong Emissions Allowances (GDEA), are carbon dioxide emissions caps assigned to companies. Firms whose emissions surpass their share must buy extra quotas from authorities or purchase unused quotas on the market from those that cause less pollution.Since its opening in December 2013, the market has traded 214.43 million tonnes of GDEA, with a total turnover of 5.65 billion yuan.

China remains attractive market for foreign enterprises

Despite three years of COVID-19-related challenges, China remains a desirable market for foreign enterprises, according to executives interviewed by China.org.cn. As restrictions are lifted and after the Central Economic Work Conference offered hopeful signs, confidence in the Chinese market is bein

CATL revs up intl presence with overseas plants

Visitors learn about new energy vehicles' battery-changing process at the booth of Contemporary Amperex Technology Co Ltd during an expo in Xiamen, Fujian province, in September. (Photo/Xinhua)Going global will be a key phrase for Chinese battery maker Contemporary Amperex Technology Co Ltd in 2023,

Hong Kong's Hang Seng Index closes 0.27 pct lower

HONG KONG, Jan. 10 (Xinhua) -- Hong Kongs Hang Seng Index ended lower on Tuesday, with the benchmark Hang Seng Index down 0.27 percent to close at 21,331.46 points.The Hang Seng China Enterprises Index fell 0.31 percent to end at 7,263.63 points, and the Hang Seng Tech Index fell 0.27 percent to close at 4,558.58 points.

Virgin Orbit reports 'anomaly' in European satellite launch

Technicians work on Virgin Orbits LauncherOne rocket, attached to the wing of Cosmic Girl, a Boeing 747-400 aircraft, ahead of launch, at Spaceport Cornwall at Newquay Airport in Newquay, Britain, January 8, 2023. /ReutersVirgin Orbit said there appeared to have been a mid-flight "anomaly" in a satellite launch from Britain on Monday, adding it had prevented the rocket from reaching orbit."We appear to have an anomaly that has prevented us from reaching orbit," the company said. "We are evaluating the information."The "horizontal launch" mission had left from the coastal town of Newquay in southwest England, with the companys LauncherOne rocket carried under the wing of a modified Boeing 747 and later released over the Atlantic Ocean.The rocket blasted into Earths lower orbit to deploy its satellites at midnight on Monday. It was the first orbital mission to begin from anywhere in Western Europe.Virgin Orbit had initially said on Twitter that LauncherOne had reached Earth orbit, a tweet it later deleted."Over the coming days there will be an investigation by the government and various bodies, including Virgin Orbit," said Matt Archer, commercial space director at the UK Space Agency.Virgin Orbit, partly owned by British billionaire Richard Branson, had planned to deploy nine small satellites into lower Earth orbit in its first mission outside its United States base.The company had warned beforehand that the chances of success might be only 50 percent, according to BBC."Nevertheless, we took a big step forward today … Our next rocket is waiting. We will learn, adjust and begin preparing for our next test, which is coming up soon," said Virgin Orbit CEO Dan Hart in a BBC report, adding that the second rocket was undergoing final integration and could be ready to fly "within weeks."

Chinese economy eyes reform, opening-up and turnaround in 2023

AnemployeeworksataplantinXiaoshandistrictofHangzhou,Zhejiangprovince,onJune27。

ChiNext Index closes higher Tuesday

BEIJING, Jan. 10 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, gained 1.38 percent to close at 2,474.01 points Tuesday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares close mixed Tuesday

BEIJING, Jan. 10 (Xinhua) -- Chinese stocks closed mixed on Tuesday, with the benchmark Shanghai Composite Index down 0.21 percent to 3,169.51 points.The Shenzhen Component Index closed 0.49 percent higher at 11,506.79 points.The combined turnover of stocks covered by the two indices stood at 747.2 billion yuan (about 110.5 billion U.S. dollars), down from 807.17 billion yuan on the previous trading day.Shares in the auto production and semiconductor sectors led the gains, while those related to education and shipping suffered losses.The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, gained 1.38 percent to close at 2,474.01 points Tuesday.

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