BIZ

Plan to make Shenzhen a 'model' city also an answer to US trade aggression, HK situation


Four decades ago, a small fishing village started groundbreaking reform and opening-up policies that changed the fate of China. Today, Shenzhen in South China's Guangdong Province is a technology powerhouse that's being asked once again to lead the country into a new era of high-quality growth.


China urges US to stop wrong practices on Chinese enterprises

China firmly opposes practices of the United States that undermine the interests of China and other countries with unilateral and protectionist policies, a Foreign Ministry spokesperson said Thursday.
Source: Xinhua | 2019/8/16 8:02:12

Handy work

A worker produces medical gloves at Intco Medical Supply Co in Huaibei, East China's Anhui Province on Wednesday. The company, with a total investment of 1.38 billion yuan ($196.33 million), is expected to achieve production of 4 billion yuan annually and create 5,000 jobs. Photo: VCG
Source: VCG | 2019/8/15 22:33:40

US puts Chinese nuclear giant, subsidiaries on Entity List to ban exports

The US has added China General Nuclear Power Corp (CGN), China's largest state-owned nuclear company, and several of its subsidiaries to its Entity List, barring US companies from selling products to those enterprises.
Source: Global Times | 2019/8/15 22:23:40

20% HK residents to benefit from a $2.4b economic support package for SMEs and families

The government of the Hong Kong Special Administrative Region (SAR) unveiled an economic package worth HK$19.1 billion ($2.44 billion) on Thursday to bolster the city's enterprises and residents to cushion the impact of recent unrest as well as external pressure.
Source: Global Times | 2019/8/15 22:21:18

US to blame as recession risk looms

Warning signs of a looming recession in the US and other major economies continue to intensify, spooking investors into a widespread stock selloff in search of safe haven assets. There is one country to blame for what could be yet another disastrous economic crisis: the US, according to analysts.
Source: Global Times | 2019/8/15 22:18:40

Big Four accounting firms assailed on HK stance

People who claim to be employees of the Big Four accounting firms – KPMG, Ernst & Young (EY), Deloitte and PricewaterhouseCoopers (PwC) – in Hong Kong have crowd-funded an advertisement in the city's Apple Daily to denounce statements made by senior executives of their firms and whitewash arrested rioters as “righteous guys” as increasingly violent protests bring huge damage to the city.
Source: Global Times | 2019/8/15 22:08:40

Tesla to raise prices in China from early September: company salesperson

A salesperson at a Tesla store in Beijing has confirmed media reports that the US-based electric carmaker may announce an across-the-board price hike in China from early September.
Source: Global Times | 2019/8/15 20:38:40

China to take countermeasures against US additional tariffs

China vowed on Thursday to take necessary countermeasures against a US decision to impose 10 percent tariffs on $300 billion worth of Chinese goods starting on September 1.
Source: Global Times | 2019/8/15 20:13:40

In latest crackdown on ride-hailing sector, Shanghai fines Didi, Meituan

Shanghai authorities have fined ride-hailing service providers Didi Chuxing and Meituan Dianping for using unlicensed vehicles and warned their smartphone apps could be suspended if they continue to fail to meet standards.
Source: Reuters-Global Times | 2019/8/15 20:08:40

PSA, Dongfeng to cut output in China

Peugeot maker PSA Group and partner Dongfeng Group have agreed to cut thousands of jobs in China and drop two of their four shared assembly plants, according to a document seen by Reuters, in a last-ditch bid to curb mounting losses as the world's largest auto market slows.
Source: Reuters-Global Times | 2019/8/15 19:58:40

Google job search rivals up in arms

Google's fast-growing tool for searching job listings has been a boon for employers and job boards lacking candidates, but several rival job-finding services contend that anti-competitive behavior has fueled its rise and cost them users and profits.
Source: Reuters-Global Times | 2019/8/15 19:33:40

Yuan depreciation to rev up Chinese export shipments

With the yuan having passed the benchmark level of 7 per US dollar earlier this month, China's foreign trade is expected to improve in the second half of the year, which would help cushion tariff pressure caused by the ongoing China-US trade war, exporters and analysts told the Global Times.
Source: Global Times | 2019/8/15 18:53:40

China's telecom operators seek broader cooperation on 5G

China Unicom is in negotiations with two other major telecom operators, China Mobile and China Telecom, to cooperate in network-building and the operation of 5G services, according to a report by caixin.com on Wednesday.
Source: Global Times | 2019/8/15 17:41:29