BUSINESS >> Economy

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

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

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

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

‘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

China says Moody's downgrading based on "inappropriate methodology"

China's finance ministry said on Wednesday that a credit downgrade by Moody's was based on "inappropriate methodology" and argued the credit rating firm has overestimated the difficulties faced by Chinese economy, while underestimating the capabilities of China to deepen side-supply reforms.
Source: Global Times | 2017/5/24 14:57:56

China dismisses Moody's downgrade decision

China's Finance Ministry on Wednesday dismissed a decision by international rating agency Moody's to downgrade China's long-term local currency and foreign currency issuer ratings.
Source: Xinhua | 2017/5/24 14:49:05

Figuratively Speaking

1.21b tons Cargo carried by China’s railways in the first four months of 2017, up 15.4 percent year-on-year.
Source: Global Times | 2017/5/23 23:33:40

More sectors to open

China will further open its economy to foreign investors with measures such as allowing investment in more industries including the services sector and mining, State broadcaster China Central Television said on Tuesday, citing a reform group meeting chaired by President Xi Jinping.
Source: Reuters-Global Times | 2017/5/23 22:28:39

Shanghai FTZ to establish service center to support Belt and Road trade

Shanghai Free Trade Zone (FTZ) will set up a service center to help companies break technical barriers to trade with countries participating in the Belt and Road Initiative, FTZ authorities said Monday.
Source: Xinhua | 2017/5/23 8:04:11

Sino-US cooperation

China's Commerce Minister Zhong Shan told new US Trade Representative Robert Lighthizer that the two countries should strengthen cooperation and manage disputes in trade, according to a statement on the website of China's Ministry of Commerce on Monday.
Source: Agencies-Global Times | 2017/5/22 23:28:39

Japan’s exports to China jump 14.8% to $11b

Japanese exports to China soared 14.8 percent year-on-year to 1.18 trillion yen ($10.65 billion) in April, with medical products, plastics, automotive parts and nonferrous metals constituting the largest categories, data from Japan’s finance ministry showed on Monday.
Source: Global Times | 2017/5/22 23:23:39

B&R countries to attract more FDI

The advanced economies of North America and Europe have been the main destinations for China's foreign direct investment (FDI) in recent years, but countries along the route of the Belt and Road (B&R) initiative are also becoming "hotspots" where Chinese firms can export domestically developed technology and capitalize on cheap resources, experts said on Monday.
Source: Global Times | 2017/5/22 23:18:28

FDI to B&R regions

Non-financial foreign direct investment (FDI) from China to B&R countries totaled $3.98 billion in the first four months this year, according to a statement on the website of the Ministry of Commerce (MOFCOM) on Monday.
Source: Global Times | 2017/5/22 22:58:39

Figuratively Speaking

1b: Packages that China’s logistics firms are expected to handle per day within five to eight years, Jack Ma Yun of Alibaba said.
Source: Global Times | 2017/5/22 22:53:39

Ant Financial enters Malaysian market

Ant Financial, the affiliate financial service of China’s e-commerce giant Alibaba Group Holding, entered into a partnership with 7-Eleven Malaysia on Monday by launching the Alipay cashless payment service in more than 2,100 stores in Malaysia.
Source: Xinhua | 2017/5/22 22:48:39

China leads global emerging markets boom in 2017: summit

Experts at the ongoing Middle East Investment Summit 2017 in Dubai said Monday that China is leading the global emerging markets boom in 2017, which is expected to see combined GDP rise of 4.6 percent.
Source: Xinhua | 2017/5/22 16:06:35

China central bank injects money into market

China's central bank conducted cash injection via open market operations to ease liquidity on Monday.
Source: Xinhua | 2017/5/22 15:03:08