BIZ

Foreign sanctions against Chinese tech firms won't inhibit China's progress: experts


Sanction measures against China's high-tech firms by some foreign countries won't prevent China from developing its technology sectors, experts said on Sunday.


Hainan denies racing news

Officials in South China's Hainan Province on Wednesday denied media reports that suggested the province has started to plan for a horse racing sector, financial news website yicai.com said.
Source: Global Times | 2018/12/5 22:13:43

Didi Chuxing restructuring

Chinese online ride hailing company Didi Chuxing announced on Wednesday a restructuring plan to consolidate the company's assets in various areas, including online ride-hailing services and car asset management, according to financial news website wallstreetcn.com.
Source: Global Times | 2018/12/5 22:13:43

PBC supports use of cash

The People's Bank of China (PBC), the central bank, has launched a crackdown on retail stores that refused to accept cash as payment, in support for older residents who prefer to use cash instead of mobile payments.
Source: Global Times | 2018/12/5 22:13:42

CCBD to groom 1,000 brands

The China Council for Brand Development (CCBD) will nurture about 1,000 globally known Chinese brands by 2021, as part of the country's push for high-quality economic growth, a top official said on Wednesday.
Source: Global Times | 2018/12/5 22:13:41

Argentina to export fresh cherries to China market

Beijing and Buenos Aires have reached agreement for Argentina to export cherries to China, one of the efforts made by China to multiply its import channels, an economic expert said.
Source: Global Times | 2018/12/5 19:23:23

Double the work

An employee at a Chinese online retailer prepares goods for the “Double 12” shopping festival at a warehouse in Lianyungang, East China's Jiangsu Province on Wednesday. “Double 12,” which falls next Wednesday, is another shopping festival created by the Alibaba Group after the success of its annual Single's Day Double 11 shopping festival on November 11. In 2017, the transaction volume on Alibaba's e-commerce platform Taobao reached 168.2 billion yuan ($24.51 billion), a new high.
Source: VCG | 2018/12/5 19:18:40

Audi to invest $15b in electric cars

Audi plans to invest 14 billion euros ($15.9 billion) in electric mobility, digitization and autonomous driving from 2019 until the end of 2023, the German car manufacturer announced on Tuesday.
Source: Xinhua | 2018/12/5 19:13:42

PBC skips open market operations

The People's Bank of China (PBC), the central bank, on Wednesday skipped open market operations for the 29th trading day, the longest stretch since early 2016, citing sufficient liquidity in the banking system.
Source: Xinhua | 2018/12/5 19:13:41

China launches strong financial support for firms to keep stable employment

The State Council, China's cabinet, said on Wednesday that the government is to prioritize steady employment and will offer more financial support to businesses and intensive training courses for workers amid increasing downward pressure on the economy.
Source: Global Times | 2018/12/5 19:13:40

Courtyard Shenzhen Bay holds opening ceremony

Marriott International Group announced that Courtyard Shenzhen Bay opened on November 29. It owns 238 guest rooms and is invested in and built by Shenzhen Investment Holdings Co., Ltd. Aiming at providing unique travel experiences for entrepreneurs and travelers, it provides another important aspect of the Courtyard by Marriott in Shenzhen.
Source: Global Times | 2018/12/5 19:08:41

Uptick in orders sees services sector expand

China's services sector grew at its quickest pace in five months in November thanks to an uptick in new orders, a private survey released on Wednesday showed.
Source: Reuters-Global Times | 2018/12/5 19:08:40

Chinese shares end lower on Wednesday, impacted by US stock market rout

Chinese shares closed lower on Wednesday, after a slump in morning trading dragged down by the sharp decline of US stocks overnight.
Source: Reuters | 2018/12/5 18:38:41

Crude oil prices slip on global growth concerns

Oil prices fell on Wednesday, pulled down by swelling US inventories and a plunge in global stock markets as China's government warned of increasing economic headwinds.
Source: Reuters | 2018/12/5 18:38:41