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.


Top US firms: Hungry for wind and solar power

Major US corporations such as Wal-Mart Stores Inc and General Motors Co have become some of America’s biggest buyers of renewable energy, driving growth in an industry seen as key to helping the US cut carbon emissions.
Source: Reuters-Global Times | 2017/6/21 18:18:39

Mainland stocks rose after MSCI inclusion

Chinese mainland stocks edged up on Wednesday as investors gave a lukewarm reception to a move made by index provider MSCI to add some mainland shares to one of its key benchmarks, with traders saying a “Yes” decision had already been priced in.
Source: Reuters-Global Times | 2017/6/21 18:18:39

Asian central banks keep holding rates as the Fed hikes

Asian central banks have not blinked since the Federal Reserve raised US rates for the third time in six months last week.
Source: Reuters-Global Times | 2017/6/21 18:13:40

Let’s get digital: Domestic fitness start-ups use Internet for promotion

In China, the yoga industry has proliferated in recent years, with more than 20,000 offline yoga studios now operational across the country. However, due to rising costs and low consumer stickiness, there are no mature yoga brands in the Chinese mainland, whereas in Canada there is Lululemon and in Hong Kong, Pure Yoga. Some domestic yoga companies like Wake and Homeyoga have begun exerting Internet promotion efforts to become prominent national brands and to thus improve user stickiness and efficiency.
Source: Global Times | 2017/6/21 17:43:39

China's State Grid completes purchase of Greek power grid operator stake

The State Grid Corporation of China, the country's biggest utility, said on Wednesday that it has completed purchase of a 24-percent stake in Greece's power grid operator, ADMIE.
Source: Xinhua | 2017/6/21 16:57:42

Egypt unveils China-made multi-purpose supply vessel, largest in Mideast

Ahmad Fadel, the largest multi-purpose supply vessel in the Middle East, is seen during its inauguration ceremony in Ismailia, Egypt, on June 20, 2017. Chairman of the Suez Canal Authority (SCA) Mohab Mamish on Wednesday raised the Egyptian flag on the largest multi-purpose supply vessel in the Middle East, which is made in China. Named after former SCA chairman Ahmad Fadel, the ship was built by Guangzhou Wenchong Shipyard in China.
Source: Xinhua | 2017/6/21 15:08:39

Enjoy Ladies’ Night at Gazebo

Looking for a fantastic evening with the girls, or just fancy a night out? There is nothing more enjoyable than to have a mid-week celebration at Gazebo, the outdoor terrace of The Ritz-Carlton Bar at The Ritz-Carlton, Beijing. The brand new Gazebo is an oasis in the hustling city overlooking a beautiful garden.
Source: Global Times | 2017/6/21 13:38:39

Twenty years of success for Lee Kum Kee

At the newly furnished headquarters at a high-rise building in Shanghai, Hong Kong-based sauce enterprise Lee Kum Kee is celebrating the 20th anniversary of Hong Kong’s formal return to China.
Source: Global Times | 2017/6/21 13:33:39

MSCI finally gives nod of approval for mainland share inclusion in its emerging markets index

The fourth attempt to have Chinese mainland stocks added to the MSCI Emerging Markets Index has succeeded, with the New York-based index compiler giving the thumbs up to the addition of yuan-denominated shares early Wednesday morning Beijing time.
Source: Global Times | 2017/6/21 13:33:05

Rise of e-payments will support China's economic rebalancing: research

The rapid rise of third-party electronic payments is boosting the growth of China's online consumer market and will support the economy's rebalancing, according to a recent research report from Moody's.
Source: Xinhua | 2017/6/21 13:18:27

Chinese tycoon rebuts biased NYT report about his American factory

Cao Dewang, founder and head of the world's top auto glass manufacturer Fuyao Glass, was perturbed in recent days by an untruthful New York Times report about his factory in Dayton, Ohio, which went viral on China's social media.
Source: Xinhua | 2017/6/21 13:18:07

China lauds MSCI for A-share inclusion

China lauded MSCI for its decision on inclusion of Shanghai and Shenzhen listed stocks into the MSCI Emerging Markets Index, said a spokesperson for the securities regulator on Wednesday.
Source: Xinhua | 2017/6/21 10:07:11

China to standardize insurance on credit risks

To contain risk in the financial sector, China's insurance regulator issued a draft of rules to standardize insurance businesses and cushion against credit risks.
Source: Xinhua | 2017/6/21 9:01:51