News

KUWAIT CITY - In the southern desert of Kuwait, the Kuwait New Refinery Project, launched with the help of China Petrochemical Corporation or Sinopec, is under construction with an aim to increase oil processing capacity of the Arab country.

HOUSTON - The Belt and Road Initiative (BRI) is making positive impacts across the world, Brian Lantz, the senior executive of Schiller Institute, an international political and economic think tank, said Tuesday.

CANBERRA - China's domestic economy has enormous potential, said Australian experts while talking about China's buoyant economic growth for the first quarter of this year.

The growth of China's demand for oil is expected to slow as the country's economic restructuring and ever-stringent environmental policy tightens, according to Oil 2019, the International Energy Agency's annual outlook for global oil markets released in Beijing on Tuesday.

China's economy grew at a faster-than-expected 6.4 percent year-on-year in the first quarter, matching the rate from the fourth quarter of last year, the National Bureau of Statistics said on Wednesday.

The Belt and Road Initiative has brought new and important opportunities for Tianjin to stand at the forefront of reform and opening up, State Councilor and Foreign Minister Wang Yi said on Tuesday.

Services and consumption to power usage, rather than gas-guzzling firms

China's energy demand growth is expected to slow to 1.1 percent per annum by 2040, less than one fifth of its pace in the last 22 years of 5.9 percent per annum, according to the BP Energy Outlook 2019.

WASHINGTON -- The International Monetary Fund (IMF) on Tuesday revised up the 2019 growth projection for China to 6.3 percent, up 0.1 percentage point from its previous estimation in January, according to the newly released April 2019 World Economic Outlook (WEO).