BUSINESS >> Economy

China scraps rules for foreign firms

China has abolished administrative rules for approval and management of representative offices of foreign companies, saying that the move is aimed at ensuring an open and fair business environment for foreign enterprises.
Source: Global Times | 2017/9/27 21:33:39

Beijing sees rise in office vacancy rate

Cushman & Wakefield, a US commercial real estate services provider, said on Wednesday that new supply in suburban areas in Beijing has lead to a rise in the market vacancy rate.
Source: Global Times | 2017/9/27 21:03:40

PVC sellers fined $69m

The National Development and Reform Commission (NDRC), the country’s top economic planner, has imposed a total fine of 457 million yuan ($68.87 million) on 18 polyvinyl chloride (PVC) sellers for manipulating market prices last year, the NDRC said Wednesday.
Source: Global Times | 2017/9/27 21:03:40

Industrial profit up 21.6% in first eight months, says NBS

China’s major industrial firms posted steady profit growth in the first eight months of the year, official data showed Wednesday.
Source: Global Times | 2017/9/27 21:03:39

Chinese group drops plan to invest in HERE

A Chinese-led group has withdrawn its offer to buy a stake in German carmaker-backed mapping company HERE after it failed to win approval from a US national security oversight board.
Source: Reuters | 2017/9/27 21:03:39

Hong Kong ranked sixth most competitive economy

The Hong Kong Special Administrative Region (HKSAR) has been ranked as the sixth most competitive economy in the world, according to the latest World Economic Forum (WEF) Global Competitiveness Index.
Source: Xinhua | 2017/9/27 13:27:02

China's industrial profits grow faster in first eight months

China's major industrial firms posted faster profit growth in the first eight months of this year, the National Bureau of Statistics (NBS) said Wednesday.
Source: Xinhua | 2017/9/27 13:25:58

Expectations for Chinese economy improve significantly: German institute

The expectations for China's economy in the coming 12 months continue to improve significantly, German economic research institute Center for European Economic Research (ZEW) reported on Tuesday.
Source: Xinhua | 2017/9/27 9:15:40

US Fed chair underlines gradual monetary tightening amid low inflation

US Federal Reserve Chair Janet Yellen said on Tuesday that it's appropriate for the central bank to continue gradually tighten its monetary policy in view of the uncertainties around inflation.
Source: Xinhua | 2017/9/27 8:52:49

New guideline protects entrepreneurs' property rights, promotes sustainable innovation

China's latest guideline to focus on protecting property rights of entrepreneurs and create a new mechanism to facilitate interaction between the government and businesses could help build a new type of government-business relations and sustain the country's economy's development, analysts said.
Source: Global Times | 2017/9/26 23:33:40

ADB, AIIB cooperate to meet infrastructure needs, says ADB chief economist

The Asian Development Bank (ADB) and the Beijing-based Asian Infrastructure Investment Bank (AIIB) can cooperate to meet Asia's infrastructure financing needs, ADB chief economist Yasuyuki Sawada said here on Tuesday.
Source: Xinhua | 2017/9/26 22:52:20

‘Double festivals’ boost mooncake sales

Sales of mooncakes, a traditional dessert for the Mid-Autumn Festival, are expected to see a new record high this year, boosted by the upcoming week-long National Day holidays and surging overseas demand, especially from countries along the route of the Belt and Road (B&R) initiative, domestic businessmen told the Global Times.
Source: Global Times | 2017/9/26 21:48:39

Fuel trade with N.Korea slowing

China’s gasoline exports to North Korea in August dropped 96.3 percent year-on-year to 180 tons, media reports said Tuesday, citing customs data. The August trade data with North Korea is being closely watched as China has been enforcing UN sanctions against North Korea since August 15 due to the country’s nuclear and weapons programs.
Source: Global Times | 2017/9/26 21:28:40

South African start-ups compete in entrepreneur challenge to reach finals in China

Over the weekend, more than 20 South African start-ups competed in the semi-finals of the Xi’an International Entrepreneurship Competition (XIEC) hosted at Stellenbosch University, Cape Town, hoping to make it to the finals, which will be held in November in Xi’an, capital of Northwest China’s Shaanxi Province, people.com.cn reported on Sunday.
Source: Global Times | 2017/9/26 21:23:40

Chinese, Finnish firms sign deals

Chinese and Finnish companies reached a series of strategic cooperation agreements during the Finland-China Business and Investment Forum in Helsinki, Finland over the weekend, the Chinese Enterprises Association in Finland said Tuesday.
Source: Agencies | 2017/9/26 21:23:39

Nvidia strikes deals with big mainland Internet companies

NASDAQ-listed graphics processing unit (GPU) designer Nvidia announced on Tuesday in Beijing it will cooperate with major Internet companies in the Chinese mainland, while its CEO, Jensen Huang, said he sees China’s artificial intelligence (AI) sector becoming a driving force.
Source: Global Times | 2017/9/26 15:18:39

Over 20 South African start-ups compete in XIEC to reach finals in China

Over the weekend, more than 20 South African start-ups competed in the semi-finals of the Xi'an International Entrepreneurship Competition (XIEC) hosted at Stellenbosch University, Cape Town to grab the opportunity of making it to the finals, which are to be held in November in Xi'an, capital of Northwest China's Shaanxi Province, people.com.cn reported on Sunday.
Source: Global Times | 2017/9/26 13:53:39

ADB keeps China growth forecast unchanged at 6.7 pct for 2017

The Asian Development Bank (ADB) on Tuesday projected China's growth at 6.7 percent this year and 6.4 percent for 2018, unchanged from its July estimates.
Source: Xinhua | 2017/9/26 11:00:35