BUSINESS >> Economy

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

IMF official says global economy to continue faster expansion

The global economy will expand faster next year while still facing challenges, such as low productivity, high income inequality and low inflation, a senior official with the International Monetary Fund (IMF) said on Monday.
Source: Xinhua | 2017/9/26 10:59:26

Chinese currency to boost Kenya' economy, says bank lobby

Kenya's umbrella body of the banking industry on Monday said that greater convertibility of the Chinese currency, yuan, will boost the East African nation's economic growth.
Source: Xinhua | 2017/9/25 22:37:22

China to further open up finance

China is poised to allow access to more foreign financial institutions to help the development of the domestic financial sector, as top policymakers are reportedly mulling new measures to push ahead with reform and opening-up of the market, according to sources and experts on Monday.
Source: Global Times | 2017/9/25 21:47:13

Guizhou plans electric network

Southwest China’s Guizhou Province, one of the country’s poorest regions, aims to catch up with richer areas in energy conservation by building an extensive charging network for electric vehicles in urban areas.
Source: Agencies | 2017/9/25 21:13:39

New economy to contribute 12% of Chinese GDP: report

China’s new economy will account for an estimated 12 percent of the country’s annual GDP this year, the Xinhua News Agency reported Monday, citing a research report.
Source: Xinhua-Global Times | 2017/9/25 21:13:39

S&P downgrade of China’s rating rejected

An official from the China Banking Association (CBA) said Monday that the reasoning behind S&P Global Ratings’ decision to lower China’s credit rating was “too simple and one-sided,” noting that the international credit rating agency had neglected the country’s capability to contain risks under a different financing structure. S&P also ignored the fact that China’s credit situation is improving, Pan Guangwei, deputy director of the CBA, said at a press conference on Monday, according to a statement on the association’s website. “The country’s high-quality assets and stable cash flow can cover its debt,” he was quoted as saying.
Source: Global Times | 2017/9/25 20:58:40

China Unicom sets up new big data company

China Unicom announced on Monday the establishment of a big data unit in its latest effort to seek new growth as traditional business shrinks.
Source: Xinhua-Global Times | 2017/9/25 20:58:39

China moves to encourage entrepreneurial spirit

Central authorities Monday released a guideline on encouraging entrepreneurial spirit and creating a favorable environment for entrepreneurship.
Source: Xinhua | 2017/9/25 20:42:26

New economy to contribute 12 pct of Chinese GDP: report

China's new economy will account for an estimated 12 percent of the country's annual GDP this year, according to a research report.
Source: Agencies | 2017/9/25 20:15:10