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Job losses unfortunate but necessary


​Redundancies are inherently painful for those losing their jobs, their families and society at large, but for industries weighed down by overcapacity, it is a transition that could not happen soon enough.

Chinese vice premier meets U.S. treasury secretary on economic ties


Chinese Vice Premier Wang Yang met with U.S. Treasury Secretary Jacob Lew in Beijing on Sunday, discussing economic ties between the two countries.

China cuts red tape on intermediary services for administrative approval


​The State Council, China's cabinet, has canceled the need to apply for intermediary services in 192 administrative procedures, in the latest move to cut red tape.

China to promote service trade innovation in pilot areas


China will promote service trade innovation in pilot areas to boost exports and employment, the State Council announced Thursday.

A New Year stocktake of China's reform campaign


​Nie Zhonghua, a villager in Guizhou Province, does not know what the Central Leading Group for Deepening Overall Reform is, but he surely has benefited from its measures.

Supply-side reform a recipe for China's economic rebalancing


Kocel Machinery Company, a state-owned enterprise (SOE) that had been struggling in the anemic foundry industry, is recovering amid a wave of economic reforms in China.

China's flexible growth as structural reform gains steam


Local governments in China have set flexible growth ranges as they gear up for structural reform.

China's business system reform boosts entrepreneurship, employment


China's business system reform has boosted growth of new businesses and jobs, according to a senior official on Monday.

China to create more makerspaces to serve real economy


China will set up more innovation and entrepreneurship incubators, or "makerspaces," to support economic restructuring and industrial upgrading, the State Council announced Thursday.

China's resort island duty-free sales rise during Spring Festival


​The popular holiday island of Hainan in southern China sold 321,300 offshore duty-free items, worth 340 million yuan (52.1 million U.S. dollars), during the week-long Spring Festival holiday, according to customs sources.