BIZ

Alibaba's Yu'e Bao becomes largest money market fund globally


Alibaba's four-year-old Yu'e Bao surpassed JPMorgan's US government money market fund to become the world's largest, according to the Financial Times.


Donkey imports linked to use in traditional cures

China’s donkey imports are in line with global demand and help solve the problem of donkey overpopulation in some areas, an entrepreneur said on Monday.
Source: Global Times | 2017/4/24 21:58:39

AIIB, World Bank to deepen cooperation via staff exchanges, data sharing

The World Bank and the China-proposed Asian Infrastructure Investment Bank (AIIB) said on Sunday they agreed to deepen their cooperation with a framework for knowledge sharing, staff exchanges, analytical work, development financing and country-level coordination.
Source: Reuters – Global Times | 2017/4/24 21:58:39

Jimmy Choo up for sale

UK luxury retailer Jimmy Choo is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, it said on Monday.
Source: Reuters | 2017/4/24 21:53:39

GE unit’s Algeria deal

GE Power, a division of General Electric Co, is close to signing a services deal with a subsidiary of Algerian utility Sonelgaz SpA valued at more than $3 billion, likely the largest such agreement ever for GE, according to a person familiar with the matter.
Source: Reuters | 2017/4/24 21:53:39

Figuratively Speaking

323m Tons of rail cargo in China in March, up 17.3 percent year-on-year, the National Bureau of Statistics said on Monday.
Source: Global Times | 2017/4/24 21:48:39

Mainland stocks suffer worst session in 4 months

Chinese mainland stocks tumbled more than 1 percent on Monday in their worst day in four months amid signs that the country will tolerate further market volatility as regulators clamp down on shadow banking and speculative trading.
Source: Reuters-Global Times | 2017/4/24 19:13:40

Oil recovers lost ground, but stays under pressure

Oil prices recovered lost ground on Monday following big losses last week, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in US drilling capped gains.
Source: Reuters | 2017/4/24 19:13:40

Euro jumps, shares firm on French election relief

The euro briefly vaulted to five-month peaks on Monday after the market’s favored candidate won through the first round of the French election, reducing the risk of a Brexit-like shock and sparking a mass unwinding of safe-haven trades.
Source: Reuters-Global Times | 2017/4/24 19:13:39

Trademark transgressions

Customs officers inspect trademark-violating labels on Monday in Hangzhou, capital of East China’s Zhejiang Province. Officials have uncovered more than 300,000 labels that violate trademarks, including those of many well-known international brands.
Source: CFP | 2017/4/24 19:13:39

China to raise annual per capita R&D spending to 500,000 yuan by 2020

China will increase its annual per capita spending on research and development (R&D) to 500,000 yuan (72,800 US dollars) by 2020 from 370,000 yuan in 2014, the Ministry of Science and Technology said Monday.
Source: Xinhua | 2017/4/24 19:09:56

Extended railway lines give southwestern region greater access to South Asia

Improved transportation is one of the goals for integrating Southwest China’s Tibet Autonomous Region into China’s “One Belt and One Road” initiative. However, the region’s rugged, mountainous terrain poses challenges to infrastructure development. The idea is to better link the region with South Asia, specifically India and Nepal. Trade between China’s Tibet and Nepal surged by double digits in 2016, and demand for upgraded logistics services has been growing. The Global Times reporter recently traveled to Tibet to look into the difficulty of developing overland freight routes. This is the second part of a two-part story.
Source: Global Times | 2017/4/24 18:33:39

2017 Shenzhen International closes

After four days of competition among 156 golfers from more than 20 countries and regions around the world, the 2017 Shenzhen International closed on April 23 at Genzon Golf Club, with Bernd Wiesberger, the three-time European Tour winner from Austria, coming out on top.
Source: Global Times | 2017/4/24 18:28:39

Australia to pursue FTA with China's Hong Kong: trade minister

The Australian government has announced it will pursue a free trade agreement (FTA) with China's Hong Kong Special Administrative Region in an attempt to secure further service export opportunities for Australian businesses.
Source: Xinhua | 2017/4/24 11:03:25