BIZ

Foreign companies must adjust to domestic market: experts


China's decision to allow wholly foreign-owned financial firms to provide credit ratings in the country will help guide the development of the domestic credit rating industry, but these foreign companies will need to adopt a rating system that reflects China's market situation, experts said.


China raps Moody's ratings

China said on Wednesday international credit rating agency Moody’s applied “inappropriate methodology” in downgrading China’s credit rating, saying the firm had overestimated the difficulties faced by the Chinese economy and underestimated the country’s ability to enhance supply-side reforms.
Source: Global Times | 2017/5/25 0:03:39

Foreign companies must adjust to domestic market: experts

China's decision to allow wholly foreign-owned financial firms to provide credit ratings in the country will help guide the development of the domestic credit rating industry, but these foreign companies will need to adopt a rating system that reflects China's market situation, experts said.
Source: Global Times | 2017/5/24 23:23:39

BeiDou System heads higher

By 2020, the scale of China's satellite navigation business will surpass 400 billion yuan ($58 billion), an official told an academic conference on Wednesday.
Source: Agencies-Global Times | 2017/5/24 22:38:40

Sinopec gas storage site

Sinopec said on Wednesday that it has started building China's largest natural gas storage and logistics center with the capacity to store up to 10 billion cubic meters of gas in Central China's Henan Province.
Source: Agencies-Global Times | 2017/5/24 22:38:40

Figuratively Speaking

445b yuan Net profit of central State-owned enterprises in the first four months of 2017, up 18.6 percent year-on-year.
Source: Global Times | 2017/5/24 22:38:40

Linglong Tire considers Central Europe plant

Shandong Linglong Tire is close to deciding on the site of an expected 500 million euro ($558.70 million) plant in central Europe, a partner of the company said on Wednesday.
Source: Reuters-Global Times | 2017/5/24 22:38:39

Mixed-ownership reform to expand, include SOEs at provincial level: NDRC

The pilot mixed-ownership reform program for centrally administered State-owned enterprises (SOEs) will be broadened to include more companies, China's National Development and Reform Commission (NDRC) said on its website on Wednesday.
Source: Global Times | 2017/5/24 22:38:39

Export-Import loan

The Export-Import Bank of China said Wednesday that it had reached a strategic cooperation agreement with East China’s Fujian Province under which the bank will extend credit of at least 350 billion yuan ($51 billion) during 2017-21.
Source: Global Times - Xinhua | 2017/5/24 22:33:40

Ukraine needs funding by China

Ukraine needs more time to submit proposals for coal and gas projects to China so it can secure funding worth up to $3.65 billion as the European nation is unlikely to meet a June deadline, Deputy Prime Minister Stepan Kubiv was quoted as saying in a Reuters report on Wednesday.
Source: Reuters-Global Times | 2017/5/24 22:33:40

CNPC-CHALCO deal

China National Petroleum Corp (CNPC) and Aluminum Corp of China (CHALCO) signed a strategic cooperation framework agreement and unveiled their co-funded company on Tuesday, according to a statement posted on CNPC’s website on Wednesday.
Source: Global Times - Xinhua | 2017/5/24 22:33:39

Gezhouba Group wins Nepali power project

Nepal has awarded a contract to develop the Budhigandaki Hydroelectric Project to China Gezhouba Group Corp, a cabinet minister said.
Source: Xinhua | 2017/5/24 22:33:39

ICBC lists three bond issues in Dubai amid growth in region

Nasdaq Dubai said Wednesday in an e-mailed statement that it welcomes the listing of three bond issues by Industrial and Commercial Bank of China’s (ICBC) Dubai branch, which is located in the Dubai banking free zone known as DIFC.
Source: Xinhua | 2017/5/24 22:28:40

‘Made in China 2025’ manufacturing push open, transparent, ministry says

A plan by China to boost its domestic manufacturing industry has been somewhat misunderstood by foreign organizations as a move to favor local companies over foreign competition, a government official said on Wednesday.
Source: Reuters | 2017/5/24 22:28:40