China

Agricultural Bank of China sees net profit growth of 4.2 pct in 2023

BEIJING, March 28 (Xinhua) -- Agricultural Bank of China, one of the country's four big state-owned lenders, reported net profit growth of 4.2 percent in 2023.

The bank raked in 269.8 billion yuan (about 38 billion U.S. dollars) in net profit attributable to shareholders in the period, according to its annual financial report.

Its non-performing loan ratio stood at 1.33 percent at the end of 2023, down 0.04 percentage points from the end of 2022.

According to the bank, its risk offset capability remains strong, with a provision coverage rate of 303.87 percent.

China calls for solidarity, cooperation to create better future for Asia, world

BOAO, Hainan, March 28 (Xinhua) -- China's top legislator on Thursday called for solidarity and cooperation to meet challenges and work together to create a better future for Asia and the world.

Zhao Leji, chairman of the National People's Congress Standing Committee, made the remarks during a keynote speech at the opening ceremony of the Boao Forum for Asia Annual Conference 2024, which drew more than 1,500 people from political and business circles and think tanks from more than 60 countries and regions.

China continues to harp on its claim over Arunachal Pradesh currently under Indian administration

Beijing, Mar 25 (PTI) China on Monday continued to claim that Arunachal Pradesh is part of its territory, notwithstanding India dismissing Beijing’s claim as “absurd” and “ludicrous”.

On Monday, Chinese Foreign Ministry spokesman Lin Jian reiterated China’s claim reacting to External Affairs Minister S Jaishankar's assertions on Saturday, dismissing China's repeated claims on Arunachal Pradesh as "ludicrous" and that the frontier state was a "natural part of India".

China's relay satellite Queqiao-2 enters orbit around the moon

BEIJING, March 25 (Xinhua) -- China's relay satellite Queqiao-2 has successfully performed the near-moon braking procedure and entered its circumlunar orbit, the China National Space Administration (CNSA) said on Monday.

After about 112 hours of flight, the satellite began to perform near-moon braking at a distance of about 440 km from the lunar surface at 12:46 a.m. (Beijing Time) on Monday and entered its circumlunar orbit smoothly 19 minutes later, said the CNSA.

China's non-financial ODI up 10 pct in first 2 months

BEIJING, March 21 (Xinhua) -- China's non-financial outbound direct investment (ODI) increased 10 percent year on year to 149.64 billion yuan (about 21.09 billion U.S. dollars) in the first two months of the year, official data showed Thursday.

Non-financial ODI in countries participating in the Belt and Road Initiative came in at 33.18 billion yuan during the period, an increase of 0.6 percent year on year, according to the Ministry of Commerce.

The turnover of contracted projects overseas grew 9 percent year on year to 138.06 billion yuan, the ministry said.

China's first homegrown hydrogen-powered urban train completes test

CHANGCHUN, March 21 (Xinhua) -- China's first independently developed hydrogen-powered urban train completed a test at a speed of 160 kph on Thursday, marking a breakthrough in the application of hydrogen energy in rail transit.

The train, developed by CRRC Changchun Railway Vehicles Co., Ltd. in Changchun, northeast China's Jilin Province, was tested on a test track belonging to the enterprise, achieving a full-system, full-scenario and multi-level performance verification.

China says it “firmly opposes” US recognition of Arunachal Pradesh as part of Indian territory

Beijing, Mar 21 (PTI) China on Thursday said it firmly opposes the US recognition of Arunachal Pradesh as part of Indian territory and affirmed that Washington has nothing to do with the India-China border dispute.

It also accused the US of “instigating and using other countries' disputes” for selfish geopolitical interests.

China hikes defence budget by 7.2 per cent to USD 232 billion

Beijing, Mar 5 (PTI) China on Tuesday increased its defence budget by 7.2 per cent to USD 232 billion as it continues with the massive modernisation of its military amid prevailing tensions over Taiwan, the South China Sea, border frictions with India and increasing rivalry with the US.

China unveils 2024 growth targets with focus on high-quality development

BEIJING, March 5 (Xinhua) -- China seeks to achieve a GDP growth rate of around 5 percent for 2024, the latest signal that the world's second-largest economy is committed to high-quality development despite uncertainties at home and abroad.

The projected goal, which remains unchanged from the previous year's growth target, is one of the key development objectives unveiled in the government work report delivered by Premier Li Qiang to the national legislature, which began its annual session Tuesday.

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