BIZ

China pushes SOE restructuring


The Chinese government has been pushing for robust efforts in restructuring State-owned enterprises (SOEs) in recent years, having cut the number of centrally administered SOEs by half since 2003. And new plans are in the works to continue the reforms.

Thriving border city

Heihe, a border city in Northeast China’s Heilongjiang Province, is considered the ‘‘twin city’’ of Russia’s Far East Blagoveshchensk. The distance between the two cities ...

Real estate stabilization

Beijing authorities are mulling over new homes that will be owned jointly by the government and individuals to help first-time home buyers get onto the ...



Arrests made over pyramid fraud

Police in South China’s Guangxi Zhuang Autonomous Region said they have arrested 368 people involved in pyramid schemes.
Source: Global Times - Xinhua | 2017/8/22 21:33:39

China, Indonesia sign deal

China and Indonesia on Tuesday signed a memorandum of understanding (MOU) for enhancing cooperation on financing for infrastructure projects, China’s Ministry of Commerce announced in a statement.
Source: Global Times - Xinhua | 2017/8/22 21:28:40

PBC to offer credit support for poor areas

China’s central bank has called for the country’s financial institutions to give more credit support to poor areas to help lift people out of poverty.
Source: Xinhua | 2017/8/22 21:28:40

Official warns of ‘gray rhino’ risks in real estate market as speculation continues

A top Chinese official on Tuesday warned against what he described as “gray rhino” risks in the domestic real estate market and urged caution to prevent “potential disaster caused by the bursting of a bubble.”
Source: Global Times | 2017/8/22 21:28:39

Banks raise billions for B&R

China’s largest State-owned commercial banks are raising tens of billions of dollars to fund projects in countries along the route of the Belt and Road initiative (B&R), according to people familiar with the matter, bolstering China’s ambitious plan as private capital pulls back.
Source: Reuters-Global Times | 2017/8/22 21:28:39

Deal on track for 500 Fuxing bullet trains

National rail operator China Railway Corp (CRC) and leading Chinese rolling stock maker CRRC Group signed a strategic cooperation agreement on Monday, showed a filing to the Shanghai Stock Exchange available on Tuesday.
Source: Global Times | 2017/8/22 21:23:40

Figuratively Speaking

601.6b yuan Trade with the US recorded by the Shanghai Customs District in the first seven months of 2017, up 17 percent year-on-year, media reported on Tuesday.
Source: Global Times | 2017/8/22 21:23:39

Steel price surge in July ‘won’t last’

Steel prices in China rose rapidly in July amid an ongoing campaign of slashing overcapacity and tightened environmental policies, but the surge won’t persist in the coming months, an industry body said on Tuesday.
Source: Global Times | 2017/8/22 21:18:40

Baidu, CITIC bank gets approval

A bank jointly set up by Chinese Internet giant Baidu Inc and CITIC Bank has received approval from the China Banking Regulatory Commission, becoming the first direct sale bank in China, which offers online banking services.
Source: Global Times | 2017/8/22 21:18:39

Moutai penalizes dealers, ends two contracts amid supply crunch

Leading domestic distiller Kweichow Moutai Co on Monday penalized 54 dealers, two of which had their contracts terminated, domestic news website 163.com reported on Tuesday.
Source: Global Times | 2017/8/22 21:18:39

Great Wall denies buyout of Jeep brand from Fiat Chrysler Automobiles

Chinese automaker Great Wall Motors denies it has made any progress on a reported buyout deal with Fiat Chrysler Automobiles, and will resume trading on Wednesday.
Source: Agencies-Global Times | 2017/8/22 21:13:40

Business not affected by lawsuit in California: J&J Consumer China

Johnson & Johnson Consumer China told the Global Times Tuesday that despite previous and ongoing lawsuits, its business in greater China is not being affected by a lawsuit in California.
Source: Global Times | 2017/8/22 21:13:39

Wanda sells London property

Dalian Wanda Commercial Properties’ International Real Estate Centre no longer has ownership of Nine Elms Square in London, a Wanda spokesman noted. Ownership of Nine Elms Square in London belongs to a third party, the spokesman said.
Source: Reuters-Global Times | 2017/8/22 21:08:39