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.


C929 is "absolutely possible" to change market balance in Chinese aircraft market: Aeroflot deputy CEO

The wide-body passenger jet C929, to be jointly developed by China and Russia, is "absolutely possible" to change the market balance in the Chinese aircraft market, said the Russian Airlines Aeroflot's Deputy CEO Giorgio Callegari Tuesday in Paris.
Source: Xinhua | 2017/6/21 8:45:52

Chinese, Australian innovation on show at startup event

Emerging entrepreneurs from China and Australia competed on Tuesday, showcasing their startup ideas at an event at the University of Technology, Sydney.
Source: Xinhua | 2017/6/21 8:45:21

Alibaba confident to help create 1 mln US jobs: Jack Ma

Alibaba founder Jack Ma said Tuesday the Chinese e-commerce giant is confident that it will help support one million small US businesses to sell to China and the rest of Asia through its network in the next five years.
Source: Xinhua | 2017/6/21 8:09:23

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 5:17:09

MSCI decides to include China A-shares in its EM Index

Global equity indexes provider MSCI announced Tuesday that beginning in June 2018, it will include China A-shares in the MSCI Emerging Markets (EM) Index and the MSCI ACWI Index.
Source: Xinhua | 2017/6/21 5:15:38

Mainland firms seek Hong Kong IPOs

Chinese mainland companies have hastened their steps to seek listings on the Hong Kong bourse over the years, and with its IPO and refinancing convenience as well as mechanisms such as the stock link programs, the Hong Kong market will have growing appeal to mainland enterprises, experts noted.
Source: Global Times | 2017/6/20 22:43:39

Figuratively Speaking

600 Orders for China’s new passenger jet, the C919 developed by Commercial Aircraft Corp of China, as of Tuesday, media reports said.
Source: Global Times | 2017/6/20 22:38:39

Developer Hailan ‘can’t reach chairman’

Chinese property developer Hailan Holdings said that it has been unable to make contact with its chairman Yeung Man since last Friday but the company’s operations are “normal and stable.”
Source: Reuters | 2017/6/20 22:38:39

Tesla nears deal for Chinese plant

Tesla Inc is close to an agreement to produce its electric cars in China for the first time and to gain better access to the world’s largest auto market, Bloomberg reported, citing people familiar with the matter.
Source: Reuters | 2017/6/20 22:33:40

East Hope to invest $300m on Indian factories

Shanghai-based East Hope Group signed a memorandum of understanding with Indian infrastructure giant Adana Group on Tuesday to set up manufacturing units in India, the Consulate General of India in Shanghai announced.
Source: Global Times | 2017/6/20 22:33:40

Nation leads in global business travel: report

China overtook the US to become the world’s largest spender on business travel in 2016, and growth momentum is likely to continue in 2017, said a report released by Germany-based travel payment company AirPlus International on Tuesday.
Source: Global Times | 2017/6/20 22:33:39

US Commerce Department determines hardwood plywood was dumped

The US Commerce Department said on Monday that it had reached a preliminary determination that some Chinese companies are dumping hardwood plywood in the US, which imported about $1.12 billion worth of the products from China in 2016.
Source: Reuters | 2017/6/20 22:33:39

To get rich is glorious: survey finds ranks of wealthy Chinese soar

The number of high net worth individuals (HNWIs) in China has risen nearly nine times in the past decade, a private survey released on Tuesday showed, as strong growth in the world’s second-largest economy spurred wealth creation.
Source: Reuters | 2017/6/20 22:28:39