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.


Initiative lifts Cambodia village

Sihanoukville port, once an impoverished part of Cambodia's southwestern Preah Sihanouk Province, has grown into a prosperous city like the innovation hub of Shenzhen, South China's Guangdong Province, the People's Daily reported Wednesday.
Source: Global Times - People's Daily | 2017/4/27 21:23:41

Blueprint for better future

Editor’s Note: The Xiongan New Area, which was announced on April 1 by the Central Committee of the Communist Party of China and the State Council, is about 100 kilometers southeast of Beijing, and it will span three counties (Xiongxian, Rongcheng and Anxin) that sit at the center of the triangular area formed by Beijing, Tianjin and Shijiazhuang, Hebei's provincial capital. After speculative investors rushed to Xiongan to buy housing in early April, local governments announced restrictions to stabilize the property markets, which have achieved certain effects. So far, at least 40 centrally administrated State-owned enterprises have vowed to support the development of the new economic zone and companies in sectors like infrastructure and transportation will be the first to enter Xiongan. Although currently underdeveloped, Xiongan has large growth potential in the near future.
Source: Global Times | 2017/4/27 20:08:41

China gas output ranks sixth in the world

China is now the sixth biggest natural gas producer in the world, three places higher than in 2007, according to the Ministry of Science and Technology on Thursday.
Source: Xinhua | 2017/4/27 20:06:08

Environmental protection shares buoy market

Chinese mainland stocks edged up slightly on Thursday on strength in environmental protection shares after Chinese Premier Li Keqiang voiced support the previous day for spending more to fight pollution
Source: Global Times | 2017/4/27 19:38:41

Touting tech

An exhibition visitor tries out a virtual reality headset at GMIC 2017 in Beijing on Thursday. The exhibition, showcasing the latest high-tech products and innovations, has attracted a number of speakers, most of whom are domestic business leaders.
Source: IC | 2017/4/27 19:38:41

US Congress may seek 1-week extension to avert shutdown

The US Congress inched toward a deal to fund the government through September but was preparing to possibly extend a midnight Friday deadline to wrap up negotiations and avoid an imminent government shutdown.
Source: Reuters | 2017/4/27 19:33:41

BOJ sounds most upbeat on economy in 9 years

The Bank of Japan (BOJ) kept monetary policy unchanged on Thursday and offered its most optimistic assessment of the economy in nine years, signaling its confidence that a pick-up in overseas demand will help sustain an export-driven recovery.
Source: Reuters | 2017/4/27 19:33:41

From dream to reality

Spring may be the planting season for farmers, but this year it is the season that the world’s major aircraft makers harvest what they have sown.
Source: Global Times | 2017/4/27 19:28:41

New services, deals

Air China announced on Thursday that it will open direct routes from Beijing to Astana, Kazakhstan, and Zurich, Switzerland in June, expanding its network along China’s “One Belt and One Road” routes.
Source: Global Times | 2017/4/27 19:28:41

Asset securitization to be key financial model in China's property sector

China's fast-developing real estate finance sector stands at a crossroads and domestic property developers are expected to rely on a combination of traditional financing models and other financing channels, said brokerage Jones Lang LaSalle (JLL) on Thursday.
Source: Global Times | 2017/4/27 18:23:41

China industrial profits maintain double-digit growth in March

China's major industrial firms continued to post double-digit growth in March, adding to signs of a stabilizing Chinese economy, official data showed Thursday.
Source: Xinhua | 2017/4/27 14:53:01

Japan's central bank keeps monetary policy unchanged, lowers inflation forecast

The Bank of Japan on Thursday kept its monetary policy unchanged and lowered its inflation forecast for this fiscal year, saying its stimulus measures will be kept in place to achieve its reflation goal.
Source: Xinhua | 2017/4/27 14:51:58

Samsung Electronics post second biggest operating profit in Q1

Samsung Electronics on Thursday posted the second biggest operating profit in the first quarter of this year thanks to robust demand for semiconductors.
Source: Xinhua | 2017/4/27 14:51:24