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China-Belgium cooperation to bring geothermal boost

China and the EU have been making joint efforts to boost the transition toward clean energy. With further cooperation and research, it is expected that renewable energy will become competitive with fossil fuel in terms of prices in the near future. Of the various types of clean energy, geothermal energy is stable and less influenced by weather conditions. It also has great potential in China but has been largely untapped so far. On October 18, while Chinese Premier Li Keqiang was attending the 12th Asia-Europe Meeting Summit in Belgium, the seminar for the first Sino-Belgian Green Energy Day was held by the Embassy of Belgium in Beijing. Global Times reporter Zhou Zheng (GT) interviewed Dirk Fransaer (Fransaer), managing director of VITO, a European independent research and technology organization focusing on sustainable energy and environmental protection technologies, to discuss the possibilities for geothermal energy in China.
Source: Global Times | 2018/10/29 19:53:39

Advertising offers handy revenue bonus for Amazon without the associated pitfalls

Amazon's ad initiative is proving useful. The company's third-quarter sales mainly pertaining to advertising – the “other” category, officially – soared. As a challenger to Facebook and Alphabet, both mired in data scandals, Jeff Bezos's firm risks negative attention by plunging into the advertising business and targeting users. But the extra dough helps, and thanks to other revenue streams, Amazon has less to lose.
Source: Global Times | 2018/10/29 19:48:40

Triangular cooperation with developed countries offers smoother path forward for BRI

German enterprises have been encouraged by their country's government and non-government organizations to get involved in China-Germany cooperation in third-country markets in Africa.
Source: Global Times | 2018/10/28 22:38:39

Pricey US stock market poised for historic reversal

The US stock market plunged again on Wednesday after several major drops, erasing almost all gains since the beginning of this year. The three major US indexes showed signs of ending their bullish run and contracting, even before the end of September.
Source: Global Times | 2018/10/28 22:33:39

Commercialization key for China's AI strength

China's passionate pursuit of technology- and innovation-driven development has the country on the lookout for emerging tech trends. In a remarkable sign, artificial intelligence (AI) has over the past few years transformed from a refreshing novelty into a familiar refrain in the Chinese economy. Whether China has already surpassed the US in AI, or when the country will do so, are among the most frequent questions for industry watchers in both countries.
Source: Global Times | 2018/10/28 19:13:40

With sales of Model 3, Musk charges Tesla's battery and drives company into the black

Tesla is back on the road, with its battery charged at least one-quarter full. The delayed ramp-up of its Model 3 revved up the electric-car maker's latest sales and drove it into the black in the three months to September.
Source: Global Times | 2018/10/28 19:13:39

Divergent stock performances show US-China trade war headed for unexpected ending

US shares tumbled again on Wednesday, wiping out the Dow and S&P 500's gains for the year. The stock market's performance is perhaps an omen that the US economy is at the end of a boom.
Source: Global Times | 2018/10/25 23:18:41

Complementary strengths can drive China-Japan ties

Japanese Prime Minister Shinzo Abe is currently paying an official visit to China. This is the first time in seven years that a Japanese prime minister has made an official visit to China, a sign of warming relations between the two countries. Deepening economic cooperation and joint third-party market exploration will be among the key topics during his trip. The Japan External Trade Organization (JETRO), managed by the Ministry of Economy, Trade and Industry, has been focusing on promoting mutual investment and trade between China and Japan for many years. In an exclusive interview, Global Times reporter Xing Xiaojing (GT) talked to Takeo Donoue (TD), director-general of JETRO's Beijing office, about recent hot issues in the China-Japan relationship.
Source: Global Times | 2018/10/25 23:18:41

Winner of record lottery in the US will have luck to thank, but so do Silicon Valley titans

The Mega Millions lottery jackpot, available in 44 US states, the District of Columbia and the US Virgin Islands, has reached a record $1.6 billion. A successful punter or several will become at least as well off as founders of a hefty Silicon Valley technology unicorn. Rubbing shoulders on rich lists might rankle with startup billionaires – but their wealth owes plenty to luck, too.
Source: Global Times | 2018/10/25 19:58:41

China's reforms transform bad leverage into good

Given external impacts and economic downward pressure, the Chinese economy needs to decisively shift to stabilizing leverage from deleveraging next year.
Source: Global Times | 2018/10/25 19:58:41

Technological innovation is Chinese industry's best response to US trade protectionism

China must be prepared for a protracted trade conflict with the US, and Beijing needs a long-term plan to deal with the possible withdrawal of foreign investment.
Source: Global Times | 2018/10/24 21:58:41

Proper policies key to easing stresses on China's economy

Against the background of the dispute with the US, the impact of trade on the Chinese economy has become a hot topic.
Source: Global Times | 2018/10/24 21:58:40

The big blockchain lie exposed as bubble bursts

With the value of Bitcoin having fallen by around 70 percent since its peak late last year, the mother of all bubbles has now gone bust. More generally, cryptocurrencies have entered a not-so-cryptic apocalypse. The value of leading coins such as Ether, EOS, Litecoin, and XRP have all fallen by over 80 percent, thousands of other digital currencies have plummeted by 90-99 percent, and the rest have been exposed as outright frauds. No one should be surprised by this: four out of five initial coin offerings (ICOs) were scams to begin with.
Source: Global Times | 2018/10/24 19:58:41

KKR's $7.1 billion splurge on supplier throws auto industry shareholders into a spin

KKR's $7.1 billion splurge on a Fiat Chrysler-owned supplier is sending auto industry valuations into a spin. The buyout group is paying 16 times next year's earnings for Magneti Marelli, which will be merged with KKR portfolio company Calsonic Kansei. That's double what publicly traded car-parts peers are worth, according to Refinitiv data. Meanwhile, shares of marquee manufacturers trade at an even bigger discount.
Source: Global Times | 2018/10/24 19:58:40

Cooperation, not competition, can help Tokyo, Beijing blunt impact of US trade protectionism

The Trump administration's protectionist trade policy has created an opportunity for China and Japan to rethink their economic relationship. The first formal bilateral summit between their leaders in seven years is scheduled to be held later this week in Beijing, a signal that China-Japan economic ties are getting back on track after a territorial dispute over the Diaoyu Islands in 2012.
Source: Global Times | 2018/10/23 22:33:40

Huawei needs to show it can't be bullied by US

Huawei Technologies, the world's largest telecom equipment gear maker and second-largest smartphone vendor, has advanced on many technology fronts, particularly in leading global 5G research and development.
Source: Global Times | 2018/10/23 21:03:40

New US law sends harsh signal to foreign investors

On August 13, US President Donald Trump signed into law the Foreign Investment Risk Review Modernization Act (FIRRMA), marking the most important reform to the review process of the Committee on Foreign Investment in the United States (CFIUS) in more than a decade.
Source: Global Times | 2018/10/23 18:53:40

UK and EU edge closer to the abyss as the two sides remain stuck at Brexit impasse

Only the threat of chaos might break the Brexit deadlock. With just over five months to go until Britain formally leaves the European Union, talks over its departure have reached an impasse. Prime Minister Theresa May faces irreconcilable demands from EU negotiators in Brussels and hard-line parliamentarians at home. To avoid a disorderly exit, at least one side must cave.
Source: Global Times | 2018/10/23 18:48:41