BUSINESS >> Economy

Chinese private space firm attracts 300 million yuan in B+ round financing

The Beijing-based private space company LandSpace announced it attracted 300 million yuan ($43.20 million) in B+ round financing. As of the end of September, the company has garnered more than 800 million yuan in total investments, the company posted on its official WeChat account on Wednesday.
Source: Global Times | 2018/11/21 14:03:40

Hainan Airlines withdraws holdings from Urumqi Air

Hainan Airlines, a carrier affiliated with debt-laden HNA Group, is planning to withdraw its holdings from low budget carrier Urumqi Air but retain management rights, the airline said in a filing to the Shanghai stock exchange on Wednesday.
Source: Global Times | 2018/11/21 13:43:40

Major Aussie supermarket relists on ASX as independent entity

Aussie grocery giant Coles has split from conglomerate Wesfarmers and relisted on the local share market (ASX) as an independent company on Wednesday.
Source: Xinhua | 2018/11/21 10:19:26

Boeing completes assembly of first 777X flying prototype for 2019 flight test

U.S. leading aerospace manufacturer Boeing Company said Tuesday it has completed the assembly of the first flying prototype of Boeing 777X that will be used for flight tests in 2019.
Source: Xinhua | 2018/11/21 10:17:34

IMF says S. Africa's economic reforms facing constraints

South Africa's new economic reforms are facing serious hurdles due to stagnant economic growth and state-owned companies' poor finances, the International Monetary Fund (IMF) has warned.
Source: Xinhua | 2018/11/21 8:30:47

WTO should restore capacity for settling disputes: Chinese official

A senior Chinese trade official on Tuesday stressed here that the World Trade Organization (WTO) should restore its capacity to settle disputes.
Source: Xinhua | 2018/11/21 8:30:25

Shanghai attracts 95,000 foreign-funded projects since reform and opening up

Shanghai has attracted 95,000 foreign-funded projects since China's reform and opening up, with a total foreign investment of 237.6 billion US dollars, official data showed Tuesday.
Source: Xinhua | 2018/11/21 8:26:29

All major airports in Beijing-Tianjin-Hebei region reach 10 million throughput level

Shijiazhuang Zhengding International Airport in north China's Hebei Province welcomed its 10 millionth passenger of 2018 on Tuesday, according to the airport.
Source: Xinhua | 2018/11/21 8:23:21

China's tax environment improves remarkably: report

China's tax environment improved remarkably in 2017, in particular, the time for compliance has dropped to 142 hours, reduced by 31.4 percent year on year, a global report showed Tuesday.
Source: Xinhua | 2018/11/21 8:22:29

Maldives will be pragmatic in seeking trade ties with China: expert

For the good of its development, the Maldives' new government will be pragmatic and make the right choice of seeking for a closer free trade relationship with China, expert said on Tuesday.
Source: Global Times | 2018/11/20 22:53:40

Aussie IPR accusations send mixed signals, not helpful to win China's trust: experts

A newspaper report in Australia about China stealing intellectual property rights (IPR) from Australian companies by means of cyber attacks is groundless and full of loopholes, experts said on Tuesday.
Source: Global Times | 2018/11/20 22:38:42

High-net-worth families surge

China's high-net-worth families, or families which have assets over 10 million yuan, surged 8.1 percent year-on-year to 2.01 million households as of the end of 2017, recording the lowest growth rate since 2013, according to a report research institute Hurun Report sent to the Global Times on Tuesday. “Despite a slowdown in growth, the rate is still higher compared with China's GDP growth,” Hurun Report Chairman and Chief Researcher Rupert Hoogewerf, was quoted as saying in the report. Meanwhile, the high-net-worth families which have assets over 100 million yuan expanded 9.9 percent year-on-year to 133,000 households, the report showed.
Source: Global Times | 2018/11/20 20:13:41

More tax exemption for foreign biz

China has expanded the provisional income tax exemption on re-invested profits from foreign investors from January 1, 2018, a move which observer said is the latest sign of the Chinese government's efforts to attract more foreign investment.
Source: Global Times | 2018/11/20 20:13:40

Nine Percent releases debut album in Beijing

A Chinese boy band Nine Percent, which teamed up with nine winners in a Chinese reality boy band group survival show, Idol Producer, recently released their debut album To The Nines. The members appeared at a press conference for the new album in Beijing on November 12.
Source: Global Times | 2018/11/20 19:18:41

Yinchuan showcases smarter city achievements at global summit

The 2018 Global Smart City Summit took place in Yinchuan, Ningxia Hui Autonomous Region from November 14 to 16.
Source: Global Times | 2018/11/20 19:03:40

12th China Cup International Regatta lowers its sail in Shenzhen

The 12th China Cup International Regatta culminated when it lowered its sail in Shenzhen, Guangdong Province on November 12.
Source: Global Times | 2018/11/20 18:58:40

Driverless transportation

Chinese visitors take a self-driving vehicle at the intelligence experience zone at the United Nations World Geospatial Information Congress (UNWGIC) in Deqing county, East China's Zhejiang Province on Tuesday. The event, which has attracted over 200 enterprises around the world to showcase leading technologies and applications in geographic information, satellite navigation and space and aviation remote sensing, started on Monday and will last until Friday. Photo: IC
Source: IC | 2018/11/20 18:33:40

Financial, technology shares sink China stocks

China stocks dropped the most in three weeks on Tuesday, led by financial and technology shares, as Asian markets tanked after overnight losses on Wall Street and amid rising growth concerns.
Source: Reuters-Global Times | 2018/11/20 18:28:40