BIZ

Burgeoning business faces questions about profitability, incoming regulation


Scan, unlock and ride – such is the simplicity of online bicycle-sharing services in China, which have grown more and more popular in major cities such as Beijing, Shanghai and Guangzhou. The companies allow almost anyone to ride a bicycle for rates of 1 yuan ($0.16) an hour or even less. With the help of investment from eager venture capital firms, these bike-sharing start-ups have put tens of millions of bikes onto city streets. However, their success has also drawn scrutiny, with many questioning if their business model is viable, especially with authorities expected to soon draft regulations for the business.


Dobe Group to open WE” International Hub in Beijing

WeWork was founded in 2010 in the US. With unique and comfortable interior design and a global membership system, the brand has attracted many startups. There are lots of industry service providers in the market. However, WeWork chose the perfect match – Dobe Group.
Source: Global Times | 2017/3/28 16:53:39

The St. Regis Tianjin Launches Earth Hour 2017

The St. Regis Tianjin joined millions around the world in turning off lights for one hour at 8:30 pm on March 25 to illuminate a powerful message about environmental awareness and action.
Source: Global Times | 2017/3/28 16:53:39

Apple supplier responsibility improves: report

Apple Inc. has made record achievements in suppliers' responsibility, according to the company's 11th annual supplier responsibility report on Monday.
Source: Xinhua | 2017/3/28 7:23:35

China-Zimbabwe auto venture unveils top-of-the-range pickup truck

A joint venture of Chinese and Zimbabwean auto companies on Monday launched a top-of-the-range pickup truck, the Grand Tiger, in Zimbabwe.
Source: Xinhua | 2017/3/28 7:19:51

Chinese state firms' profit growth quickens as economy improves

Profit growth at China's state-owned enterprises (SOEs) accelerated in the first two months of the year as the economy continued to improve, official data showed Monday.
Source: Xinhua | 2017/3/28 0:14:21

Hong Kong metro operator wins race to run one of Britain's major rail services

MTR, the company that runs the Hong Kong metro system, was named on Monday as a partner in a new consortium to run one of the major inter-city rail franchises in Britain.
Source: Xinhua | 2017/3/28 0:14:04

Chinese banks record expansion in external assets

China's banking industry witnessed an expansion in external financial assets in the fourth quarter last year, official data showed Monday.
Source: Xinhua | 2017/3/28 0:12:38

Indonesia seeks to ease import of raw materials for pharmaceutical industry

Indonesian health ministry has taken measures to find the source of raw material for pharmaceutical industry in domestic that will reduce the country's high importation of the unprocessed materials, a senior official of the ministry disclosed here on Monday.
Source: Xinhua | 2017/3/28 0:07:18

EU to explore investment opportunities in Sri Lanka

A high-level delegation from the European Investment Bank (EIB) will make a three-day official visit to Sri Lanka later this week as the start of a South Asia tour, the European Union (EU) office in Colombo said on Monday.
Source: Xinhua | 2017/3/28 0:06:01

EU clears $130b agri deal

The EU on Monday approved a $130 billion mega-merger of US agri-chemicals giants Dow Chemical and DuPont, paving the way for major consolidation in a sensitive sector for farmers and the environment.
Source: AFP | 2017/3/27 23:53:39

Shenhua chief quits

Zhang Yuzhuo, the chairman of China Shenhua Energy Co, the largest coal mining company in China, has announced that he will resign, according to a filing the company released Monday.
Source: Global Times | 2017/3/27 23:48:39

SOE revenues up 17.8%

From January to February, the total revenues of China’s State-owned enterprises (SOEs) stood at 7.24 trillion yuan (about $1.02 trillion), up 17.8 percent year-on-year, according to data released by the Ministry of Finance on Monday.
Source: Global Times | 2017/3/27 23:48:39

LeEco's Russia plan 'off the table'

Beijing-based technology and entertainment company LeEco confirmed to the Global Times on Monday that a proposed e-commerce platform with the Russian government that was to sell Russian food to Chinese consumers was terminated as early as September last year, only weeks after media reports about the platform surfaced.
Source: Global Times | 2017/3/27 23:48:39