Day: September 17, 2025

China is making a renewed push to boost service consumption by relaxing market access and increasing supply – across sectors such as culture, sports and healthcare – as Beijing doubles down on expanding domestic demand for economic growth. Advertisement The measures, which also include strengthening fiscal support and investments, were released in a 19-point set of guidelines jointly released by the Ministry of Commerce and nine other departments on Tuesday. Authorities pledged to further open up the culture industry, promising to channel existing funds to high-quality creative works and productions,…

Ahead of an anticipated interest rate cut from the US Federal Reserve this week, the offshore yuan strengthened past a rate of 7.1 against the US dollar for the first time in nearly a year – another milestone reached in a gradual shift of China’s monetary policy that has seen the currency gain ground over the last month. Advertisement On Wednesday morning, the offshore yuan reached 7.0999 per US dollar, its strongest showing since November. It was trading at 7.1027 as of Wednesday afternoon. The People’s Bank of China set…

The Chinese reusable rocket race is heating up, with two start-ups and a state-owned developer all aiming for orbital launches by year’s end. If successful, they could help to ease a growing mismatch between China’s limited rocket supply and surging demand. Advertisement On Monday, Beijing-based Space Pioneer completed a full-scale test of the first stage of its 72 metre (236 feet) partially reusable Tianlong-3 rocket from an offshore platform in the eastern province of Shandong. The 35-second burn involved nine Tianhuo-12 engines firing together to produce nearly 1,000 tonnes of…