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Wenzhou ex-fugitive shares business journey during China's 40-year economic reform

Merchants from Wenzhou, East China's Zhejiang Province are known for their talents in doing business. Many of them have grasped opportunities created by China's reform and opening-up policy to make ventures. The Global Times recently interviewed Hu Jinlin, a Wenzhou businessman nicknamed the “electric appliance king,” to talk about his business ups and downs during the 40 years of reform and opening-up.
Source: Global Times | 2018/7/16 18:08:40

Blockchain technology has potential to be applied in other sectors such as insurance: experts

Blockchain is now one of the hottest technologies in the world, including in China. Ongoing market mania over blockchain-oriented cryptocurrencies such as Bitcoin provides the evidence. But in addition to cryptocurrencies, where else in the financial industry can blockchain technology be applied by taking advantage of its decentralized nature and low-risk functions? And what are the difficulties in wider application in terms of its infrastructure technology and regulatory hurdles? The Global Times recently attended a comprehensive discussion on blockchain technology at the China Wealth Forum, where some industry insiders shared their points of view regarding such concerns.
Source: Global Times | 2018/7/15 17:23:40

Airbus faces A330 delivery delays amid HNA Group woes: sources

Airbus faces a logjam of undelivered A330 jets worth well over $1 billion for airlines affiliated to China's debt-laden HNA Group following a stand-off over late payments, according to industry sources and a Reuters examination of parked aircraft.
Source: Reuters-Global Times | 2018/7/12 16:53:40

China's modernized breeding facilities to see hens lay a billion eggs a day

Behind a row of sealed red incubator doors in a new facility in northern China, about 400,000 chicks are hatched every day, part of the rapidly modernizing supply chain in China's $37 billion egg industry, the world's biggest.
Source: Reuters-Global Times | 2018/7/11 17:48:40

Chinese-made prefabricated houses bring down housing costs for Kiwis by 30%

As domestic companies continue to upgrade their manufacturing capabilities and constantly explore the overseas market, they are also finding abundant opportunities in niche areas. Turning high labor costs in some developed countries into its own advantage, Shenzhen Yahgee Modular House Co has found a potentially massive overseas market for its prefabricated homes, especially in New Zealand. The company's success offers a great case study for how Chinese companies could find new markets amid rising challenges.
Source: Global Times | 2018/7/10 16:53:39

Overseas Chinese students return home to seek entrepreneurship

Driven by abundant opportunities and China's economic transformation, Chinese students who studied overseas now tend to return home after graduation to start their businesses.
Source: Global Times | 2018/7/9 17:13:39

AI ambulances and robot doctors: China seeks digital salve to ease hospital strain

In Hangzhou, East China's Zhejiang Province, an ambulance speeds through traffic on a wave of green lights, helped along by an artificial intelligence (AI) system and big data.
Source: Reuters-Global Times | 2018/7/8 16:43:39

China's regional jet gold rush hits regulatory turbulence

The Chinese regional jet market is struggling to lift off the ground as authorities slow down approvals for new airlines, industry executives say, dashing hopes that recent policy changes would drive aircraft sales up.
Source: Reuters | 2018/7/5 16:58:39

Chinese businesspeople in cultural exchange industry revamp content to promote blockbusters in Thai market

The imports and exports of cultural productions such as TV series and movies have always been an important part of the China-proposed Belt and Road (B&R) initiative. As such, this has called for the enhancement of related people-to-people exchange in countries and regions along its routes. In Thailand, a Chinese businessman in the cultural exchange industry is calling for policy support from the Chinese government to instill vigor into the exports of Chinese films and TV works to battle their struggling influence and to regain their former glamour.
Source: Global Times | 2018/7/4 19:13:40

China, Japan could collaborate on development projects in Thailand including high-speed railways to achieve regional growth: experts

Experts have said that for the China-proposed Belt and Road (B&R) initiative to succeed in Thailand, different countries must work together to achieve common growth. In particular, China could cooperate with Japan on a number of projects such as high-speed railways and the Thailand 4.0 industrial plan. As such, “classy projects at the top and grassy projects down below together would form the B&R initiative,” said an expert.
Source: Global Times | 2018/7/3 18:48:40

Chinese infrastructure firms make foray into Thai market

As the China-proposed Belt and Road initiative enters its 5th year, it is making steady progress in Thailand where Chinese infrastructure companies navigate in the local market to learn how to play the game in accordance with local rules, grow with local partners and win recognition and market shares in the process.
Source: Global Times | 2018/7/2 18:03:39

Big data, blockchain applied to alleviation efforts in rural Guizhou

In April 2017, the government of Southwest China's Guizhou Province vowed to fully implement three key strategies: Great Poverty Alleviation, Big Data and Large Ecology. What positive results have been attained in the province thanks to its poverty alleviation and hi-tech efforts? Villagers told the Global Times how industrial poverty reduction, including tourism and cattle-raising, is helping them shake off poverty. Meanwhile, the Agricultural Bank of China is providing preferential loans for the relief projects and has created a white list based on big data to improve efficiency and loan coverage in rural areas.
Source: Global Times | 2018/7/1 17:28:39

Fujian-based airline, airport bolster national reform and opening-up

Thanks to China's economic reform and opening-up over the last four decades, more and more people are now able to afford to travel by airplane, especially as travel demand increased and as routes became more internationalized. Global Times reporter Zhang Hongpei recently paid a visit to Xiamen Airlines and Xiamen Gaoqi International Airport, both of which were considered reform pioneers in the 1980s, not only in the Xiamen Special Economic Zone, but also in China's aviation industry at large. This is the last part of a five-part story.
Source: Global Times | 2018/6/28 19:28:40

Coastal pilot FTZs in Fujian set to take on bigger role along new Silk Road

Pilot free trade zones (FTZs) have become key agents in promoting and bolstering China's reform and opening-up policy. As the country further deepens its reform and boosts innovation in its coastal FTZs, the China (Fujian) Pilot FTZ is now ready to navigate more toward the routes of the 21st Century Maritime Silk Road, the maritime part of the China-proposed Belt and Road (B&R) initiative. Global Times reporters Li Xuanmin and Zhang Hongpei recently visited to the China (Fujian) Pilot FTZ to investigate how the zone has developed to help implement the initiative and drive further opening-up. This is the fourth part of a five-part story.
Source: Global Times | 2018/6/27 17:13:40

Dare to be a pioneer

The past four decades have seen a drastic shift in China's economic system, from a planned economy to a diversified and vibrant market-oriented economy, a result of the country's reform and opening-up policy that was announced by the central government in 1978. Significant reform of a State-owned enterprise (SOE) in Fuzhou, capital of East China's Fujian Province, has played a vital role in breaking the shackles imposed by a planned economy. Global Times reporter Li Xuanmin recently paid a visit to Fuzhou to interview the initiator of the country's very first SOE reform. This is the third part of a five-part story.
Source: Global Times | 2018/6/26 17:48:39

Xiamen drives China's economic opening-up with first domestic JV bank

The 40th anniversary of China's reform and opening-up is a good time to reflect on the country's economic development. Over the past 40 years, China's southeastern coastal cities have been at the forefront of the nation's economic drive. In particular, the Xiamen Special Economic Zone (SEZ) has witnessed rapid economic development and played the role of a “test ground” after it established the first joint venture bank in China – Xiamen International Bank. Global Times reporter Zhang Hongpei recently paid a visit to the SEZ to investigate the opening-up of its financial sector. This is the second part of a five-part story.
Source: Global Times | 2018/6/25 17:28:40

Quanzhou locals drive national reform, economic opening-up with homegrown shoe brands

This year marks the 40th anniversary of China's reform and opening-up policy. During the past 40 years, China's eastern coastal cities have been at the forefront of the nation's economic reform. In particular, Quanzhou in East China's Fujian Province, known for its vigorous private economy and homegrown brands, was cited in 2008 as one of 18 successful cases of local reform and opening-up. Global Times reporter Li Xuanmin recently paid a visit to the city to investigate the role of the private sector in Quanzhou's economic growth. This is the first part of a five-part story.
Source: Global Times | 2018/6/24 16:38:39

Flying in fresh air

As Bombardier surrenders hopes of securing a top spot in commercial aviation with the sale of its money-losing CSeries jet program to Airbus, the Canadian transport company is now drawing up plans to breathe new life into its older regional planes.
Source: Reuters | 2018/6/21 16:33:40