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China's GDP grew by 4.9 percent year-on-year in the third quarter, faster than the 3.2-percent growth between April and June, suggesting "a rapid return to the pre-COVID trend", according to US economist Stephen Roach, also former chairman of Morgan Stanley Asia, a New York-based investment bank.
China will further move forward with a pilot program for the pooled procurement of pharmaceuticals and improve capacities to cope with a shortage of drugs, according to a decision from the State Council executive meeting on Wednesday.
China's Ministry of Commerce on Thursday granted the license to Shell (Zhejiang) Petroleum Trading Co, a wholly-owned subsidiary of Shell China, allowing the company's Zhejiang branch to carry out sales and purchases of oil products for its customers in the Chinese market.
China's central bank Monday injected 30 billion yuan into the financial system through 28-day reverse repos to maintain stable liquidity.
China's alcohol industry has been recovering since last September, stimulating the surge for Moutai. Wang Ying, an analyst at Hua Chuang Securities, said in a report that Moutai's daily wholesale volume had reached 40 metric tons on average, which had declined since the same time last year in an effort to control wholesale volumes.
