Economy![]() China Eastern Airlines suffered $1.9 billion in losses in 2021
China's second largest airline, China Eastern Airlines, suffered losses of 12.2 billion yuan ($1.9 billion) in 2021, in 2020 this figure was 11.8 billion yuan (about $1.8 billion). ![]() Sinopec predicts the price of oil in 2022 at $100 per barrel
The Chinese oil and gas company Sinopec predicts that the price of oil this year will be at the level of about $ 100 per barrel, writes "TASS". ![]() Russians are buying Chinese smartphones
Chinese mobile phones have become very popular among residents of Russia. ![]() The new overland container service will connect China and Russia
"Russian Railways business Asset" has opened a new overland container service from China to Russia. ![]() China begins work on abandoning the US dollar
The Chinese authorities are systematically working to replace the dollar with national currencies. ![]() China will allocate $475.4 billion for the social sphere
China has allocated 3 billion yuan from the central government's budget to strengthen weak links in the field of social security and ensuring people's well-being. ![]() China and Russia may increase trade volumes by 15%
The growth of trade volume between Russia and China may amount to 10-15% by the end of 2022. ![]() The Central Bank of China strengthened the yuan against the dollar to the highest since April 2018
The People's Bank of China (central Bank) on Monday strengthened the renminbi (the official name of the Chinese currency) by 124 basis points, to 6.3222 yuan per dollar. ![]() The inflow of foreign direct investment to China increased by 11.6% in January
In January 2022, the volume of actually used foreign direct investment in mainland China increased by 11.6% year-on-year and amounted to 102.28 billion yuan, the Ministry of Commerce of the People's Republic of China reported on Tuesday. ![]() Semiconductor manufacturer UMC has stopped the operation of the enterprise in China
One of the world's largest semiconductor manufacturers, United Microelectronics Corporation (UMC), suspended the operation of its enterprise in Suzhou (eastern Jiangsu Province) due to suspected coronavirus infection in one of its employees. |