BIZ

SOEs seen inflating revenue


China’s top auditor said that 18 of 20 recently audited central State-owned enterprises (SOEs) have inflated their revenue by a total of 200.16 billion yuan ($29.3 billion) and profits by 20.3 billion yuan during recent years.


Chinese, Australian ties

Entrepreneurs from China and Australia competed on Tuesday, showcasing their start-up ideas at an event at the University of Technology, Sydney.
Source: Xinhua | 2017/6/21 22:28:39

Airline official hails C929

The wide-body passenger jet C929, to be jointly developed by China and Russia, has the “absolute possibility” of changing the balance in the Chinese aircraft market, said Russian Airlines Aeroflot’s Deputy CEO Giorgio Callegari Tuesday in Paris.
Source: Xinhua | 2017/6/21 22:23:40

Alibaba woos US small businesses

About 3,000 small US businesses and entrepreneurs attended Alibaba’s Gateway ‘17 Event to learn about business opportunities in China. The event was held in Detroit, Michigan on Tuesday and Wednesday.
Source: Global Times | 2017/6/21 22:23:40

SOEs complete 48 ‘mixed ownership’ reforms by June: paper

State-owned enterprises (SOEs) completed 48 deals allowing private capital to invest in government-run enterprises as of June 20, part of a mixed-ownership reform program aimed at rejuvenating the State sector, the China Securities Journal reported Wednesday.
Source: Reuters | 2017/6/21 22:23:40

Vanke founder Wang Shi says he’ll step down after long power struggle

China Vanke Co Chairman Wang Shi, 66, will step down from the board after a long power struggle saw the nation’s No.2 property developer fall under State control.
Source: Reuters | 2017/6/21 22:23:39

Japanese companies not leaving China: white paper

Japanese enterprises are optimistic about investment in China and they have not massively withdrawn from the Chinese market, the Japanese Chamber of Commerce and Industry in China said Wednesday.
Source: Global Times | 2017/6/21 22:23:39

Relationship with Greece on fast track

The trade and economic relationship between China and Greece is on a fast track, as the two countries developed a relationship of profound mutual trust during Greece’s debt crisis, experts noted on Wednesday.
Source: Global Times | 2017/6/21 22:18:40

More bases for entrepreneurship

China will further boost mass entrepreneurship and innovation by building 92 more demonstration bases, the State Council, China’s cabinet, said Wednesday.
Source: Agencies | 2017/6/21 22:18:40

Pakistan wind project opens

Sachal Energy’s wind power project in Pakistan has passed assessments and started commercial operations, sohu.com reported Wednesday.
Source: Global Times | 2017/6/21 22:18:40

Macao CPI up 0.95% in May: statistics office

The composite Consumer Price Index (CPI) in China’s Macao Special Administrative Region (SAR) increased by 0.95 percent year-on-year in May, the SAR’s statistics department said on Wednesday.
Source: Xinhua | 2017/6/21 22:18:39

Mainland-HK trade set for further expansion

Hong Kong will continue to act as a free port and transshipment center in boosting trade with the Chinese mainland as the nation’s economic transformation, industrial upgrading and global recovery drive demand, an expert said.
Source: Global Times | 2017/6/21 22:18:39

Australia to remove defense files from Chinese-owned data hub, ‘politicizing’ ties

Chinese experts said Australia should not politicize economic ties with China following an announcement by the Australian Defense Ministry that it would move its files out of a Chinese-owned data hub to ensure information security.
Source: Global Times | 2017/6/21 21:38:39

China to launch 2nd phase of cross-border interbank payment system for RMB

The second phase of the Cross-border Interbank Payment System (CIPS) will be launched in Shanghai to promote the global use of the Chinese currency and the Belt and Road Initiative.
Source: Xinhua | 2017/6/21 20:22:33