BUSINESS >> Economy

ByteDance takes stake in Baike.com as it aims to challenge top search engine Baidu

Domestic internet technology giant ByteDance has become the largest shareholder of Chinese online encyclopedia company Baike.com after buying a 22.2 percent stake in the latter, according to information released by online company enquiry website qichacha.com on Monday.
Source: Global Times | 2019/8/19 18:33:39

China's M&A drops 18% in H1, rebound likely in 2020: report

The value of mergers and acquisitions (M&A) done by Chinese companies fell by 18 percent in the first half of 2019 to $264 billion, registering the largest six-month decline in the last decade. Rebound is likely to occur in 2020, according to an industry report released on Monday.
Source: Global Times | 2019/8/19 18:08:39

China's financial opening-up boosts global investors' confidence

The greater opening-up of China's financial markets boosts the confidence of global investors, who have become increasingly interested in the markets, said a J.P. Morgan executive in an interview with Xinhua.
Source: Xinhua | 2019/8/19 17:46:17

HK halo fades away

The ongoing protests in China's Hong Kong Special Administrative Region (HKSAR) have cast a shadow over Hong Kong's already slowly-growing economy, dragged down by the lackluster global economy as well as simmering trade war between China and the US.
Source: Global Times | 2019/8/19 15:53:39

5G-assisted unmanned delivery car supports smart retail in eastern Chinese city

An unmanned delivery car with 5G wireless technology hit the roads in the city of Nanjing, capital of east China's Jiangsu Province over the weekend.
Source: Xinhua | 2019/8/19 11:30:06

Chinese yuan strengthens last week

China's yuan strengthened against a basket of currencies last week, according to the China Foreign Exchange Trade System (CFETS).
Source: Xinhua | 2019/8/19 11:01:50

Booming Shenzhen city asked to launch financial innovations

The Chinese government is mulling efforts to support financial cooperation between Shenzhen, South China's Guangdong Province, and Hong Kong, a move that experts said would help bring stability to Hong Kong, whose financial sector has been hit by the riots that have swept across the city.
Source: Global Times | 2019/8/18 20:08:40

China's central bank launches interest rate reform to cut costs

The People's Bank of China (PBC), the country's central bank, has improved a key interest rate mechanism to reduce borrowing costs, a move that experts said is intended to help enterprises and boost the economy after recent figures pointed to growing downward pressure.
Source: Global Times | 2019/8/18 20:08:39

Logistics leadership

A 5G-enabled driverless distribution vehicle is seen on a street in Nanjing, East China's Jiangsu Province on Saturday, marking the first time that 5G technology has been applied in the logistics services industry. The Wolong vehicle operates at an average speed of 8 kilometers an hour, with a maximum speed of 15 kilometers an hour. It can detect barriers that are 100 meters away and automatically evade obstacles. Photo: VCG
Source: VCG | 2019/8/18 19:08:39

Netizens slam vendors, maker of T-shirts that support HK violence

Outraged Chinese netizens over the weekend went after the vendor and manufacturer of offensive T-shirts supporting violent protests in Hong Kong that appeared on the website of US online retail giant Amazon.
Source: Global Times | 2019/8/18 18:57:02

Steady H1 for China's local economies

The 31 provincial-level regions of China recorded steady economic performances in the first half of 2019, despite downward pressure and the impact of the US-China trade war. Ongoing opening-up and reform measures improved the business climate and corporate sentiment, experts said.
Source: Global Times | 2019/8/18 18:38:39

Opportunity knocks

The Kentucky Cabinet for Economic Development said it will lead a business development trip to China later this month, the latest signal of intent from US state and local officials that they are willing to enhance cooperation, despite simmering trade tensions between the world's two largest economies.
Source: Xinhua-Global Times | 2019/8/18 17:58:40

Businesses cash in on booming night economy in summer heat

Museum lovers in Beijing now have a unique destination to add to their “must-see” list: a wonderful evening tour at the National Museum of China (NMC). Starting July 28, the museum decided to extend its opening hours to 9 pm on Sundays.
Source: Xinhua-Global Times | 2019/8/18 17:58:39

Businesses cash in on booming night economy in summer heat

Museum lovers in Beijing now have a unique destination to add to their “must-see” list: a wonderful evening tour at the National Museum of China (NMC). Starting July 28, the museum decided to extend its opening hours to 9 pm on Sundays.
Source: Xinhua-Global Times | 2019/8/18 17:53:39

China's securities firms post surging profits

China's securities sector saw sharp growth in net profits for the first half (H1) of the year, data from an industry association showed.
Source: Xinhua | 2019/8/18 14:12:59

China to improve, prevent abuse of social credit system: NDRC

China will promote the development of the social credit system in line with the law and regulations to prevent the abuse of the credit mechanism, said an official from China's top economic planner on Friday.
Source: Global Times | 2019/8/18 13:33:39

China launches interest rate reform to reduce financing costs

The People's Bank of China (PBC), China's central bank, has improved a key interest rate mechanism, a move to reduce the financing costs which experts said is intended to boost the domestic economy amid downward pressure.
Source: Global Times | 2019/8/18 12:36:40

China gives green light to one more IPO on sci-tech innovation board

China's securities regulator has endorsed the application of one company for initial public offering (IPO) on the science and technology innovation board.
Source: Xinhua | 2019/8/18 11:41:06