BUSINESS >> Economy

Evergrande chief tops China rich list in 2017

Xu Jiayin, 59, chairman of property company Guangzhou Evergrande Group, has become China’s richest person for the first time with 290 billion yuan ($44 billion) in wealth after a six-month gain of $30 billion, according to a post on the Hurun Research Institute website.
Source: Global Times | 2017/10/12 21:53:40

China values IPR protection, opposes unilateral action: MOFCOM

China places a high value on protection of intellectual property rights (IPR), and hopes that the US will seek cautious action to avoid hindering the sound growth of bilateral economic and trade relations between the two countries, a trade official said Thursday.
Source: Global Times | 2017/10/12 21:53:40

Continued innovation to help China avoid middle-income trap: HSBC

China is becoming an innovation-driven developing economy, and innovation, if continued, will help the country ward off the "middle-income trap", according to a recent HSBC report.
Source: Xinhua | 2017/10/12 17:18:20

China highly values IPR protection, opposes unilateral action: MOFCOM

China has been highly valuing intellectual property rights (IPR) protection and opposing any form of protectionism, in hopes that the US will seek cautious action to avoid hindering the sound growth of bilateral economic and trade relations between the two countries, a senior trade official said Thursday.
Source: Global Times | 2017/10/12 15:58:39

US Fed officials expect one more rate hike this year

US Federal Reserve could raise interest rate one more time this year if the economy continues moderate expansion, the minutes of the Fed's latest monetary policy meeting showed Wednesday.
Source: Xinhua | 2017/10/12 13:32:27

IMF raises China 2017 growth forecast due to its progress in economic reform

The International Monetary Fund (IMF)'s move to raise its forecast for China's economic growth to 6.8 percent reflects the country's recent progress in trimming financial risks and deepening economic reform, US experts have said.
Source: Xinhua | 2017/10/12 9:45:39

CIS countries to strengthen economic, security cooperation

Leaders of the Commonwealth of Independence States (CIS) signed a series of deals on Wednesday to expand economic and security cooperation within the Russia-led organization.
Source: Xinhua | 2017/10/12 9:42:52

US officials criticize IMF for discounting Trump's tax cuts endeavors

US officials hit out at International Monetary Fund on Wednesday for discounting Trump administration's tax cuts endeavors in the newly-released economic outlook, revealing the rising tension between the IMF and its largest shareholder.
Source: Xinhua | 2017/10/12 9:39:11

IMF warns financial vulnerabilities could derail global recovery

International Monetary Fund (IMF) on Wednesday warned that rising financial vulnerabilities could derail the long-waited global recovery despite that the financial stability continues to improve.
Source: Xinhua | 2017/10/12 9:26:13

New guidelines issued to support Xiongan

China’s State Administration for Industry and Commerce on Wednesday released guidelines designed to support the development of the Xiongan New Area in North China’s Hebei Province.
Source: Global Times | 2017/10/11 21:43:39

In first policy address, HK chief executive stresses economic link with mainland

Hong Kong Special Administrative Region (HKSAR) Chief Executive Carrie Lam Cheng Yuet-ngor on Wednesday stressed the importance of economic links with the mainland through programs such as the Belt and Road (B&R) initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development plan.
Source: Xinhua | 2017/10/11 21:28:40

China's economic achievements since 18th CPC national congress

The National Bureau of Statistics released a series of data Tuesday on China's economic and social development since the 18th National Congress of the Communist Party of China (CPC) held in 2012.
Source: Xinhua | 2017/10/11 14:23:26

China's commerce ministry concludes 1,408 anti-monopoly investigations

China has made great efforts in facilitating fair market competition through the implementation of anti-monopoly regulations and a faster review process during the past five years, according to the Ministry of Commerce.
Source: Xinhua | 2017/10/11 13:29:27

China plays bigger role in financing frontier markets: Moody's

While tightening global monetary policies would put more pressure on short-term liquidity in frontier markets (FMs), Chinese financing could help mitigate liquidity risk for these countries, said Moody's, a ratings agency, in a report released on Monday.
Source: Xinhua | 2017/10/11 9:07:01

GDP calculation method to change in third quarter: report

There will be some changes in the way China calculates its GDP when announcing third-quarter economic data, the 21st Century Business Herald reported on Tuesday.
Source: Global Times | 2017/10/10 21:53:39

Figuratively speaking

Package deliveries during the Golden Week holiday, which ran from October 1-8, up 15.5 percent year-on-year, data from the State Post Bureau showed Tuesday.
Source: Global Times | 2017/10/10 21:33:39

IMF raises China's growth forecast for 2017, 2018

The International Monetary Fund (IMF) on Tuesday raised its forecast for China's economic growth in 2017 and 2018, citing the stronger-than-expected performance in the first half of the year and continuous policy support.
Source: Xinhua | 2017/10/10 21:30:49

Airbnb rival Tujia raises $300m

Tujia.com, China’s biggest short-term property rental company, said on Tuesday it had raised $300 million from investors, valuing it at more than $1.5 billion as it looks to tap growing demand from Chinese tourists for independent travel.
Source: Reuters | 2017/10/10 21:23:39