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Under B&R initiative, Chinese firms changing how they invest in continent

Chinese companies have been rapidly increasing investment in Africa in recent years thanks to the China-proposed Belt and Road (B&R) initiative. The initiative has brought about significant changes in the investment and financing models used in projects in the region. In addition, production capacity has emerged as a highlight of cooperation between China and African countries. However, experts also warned that Chinese firms need to be aware of risks such as foreign exchange controls and political instability.
Source: Global Times | 2017/5/17 18:33:39

Encouraged by B&R initiative, firms build up advanced industries in northwestern region

Northwest China's Xinjiang Uyghur Autonomous Region sits in the heart of the Silk Road Economic Belt, one of components of the China-proposed Belt and Road (B&R) initiative. The region's advantageous location – combined with strong government support – has turned the region into a lodestone for companies in advanced industries such as heavy machinery and software. These companies also see the region's location as a convenient jumping-off point for reaching new markets in Central Asia and beyond.
Source: Xinhua | 2017/5/16 17:53:39

Despite cooling market, developers spending more on real estate

Tighter restrictions on home buying in many big Chinese cities have taken some of the heat out of the domestic real estate market, yet developers are snatching up land at a greater pace. This is largely a result of local governments putting up more land for auction in 2017. Land reserves also serve as a gauge for a developer's strength. Still, at least one expert cautioned that there are risks to acquiring land too quickly. A significant drop in home prices, for example, could leave developers holding land that is too expensive for the market to bear
Source: Global Times | 2017/5/15 17:43:39

China's sharing economy start-ups vault into variety of ventures

The sharing economy has taken off in China. The industry has branched out from ride-sharing and bike-sharing platforms to new ventures that offer to share umbrellas, portable battery chargers and basketballs. The industry has received its share of cheerleading over the last year or two, but at least one expert believes that a bubble has emerged. Concerns about blind investment have led to calls for government oversight.
Source: Global Times | 2017/5/14 17:48:39

With bike sharing's success, cities grappling with sprawl of cycles clogging the sidewalks

China's bike-sharing companies have found that success breeds its own set of challenges. As bike-sharing's popularity has skyrocketed, Chinese cities have strained to deal with the sprawling masses of shared bicycles that surround many bus and subway stations at rush hours, blocking pedestrian and vehicle traffic. Bike-sharing companies have hired workers to organize their bicycles. Several cities have instituted regulations to deal with the problem. Yet the situation has left some wondering if bike sharing can be regulated without killing the convenience that has made it a success.
Source: Global Times | 2017/5/10 19:33:39

Fighting for profits

On April 28, a video emerged showing 37-year-old former mixed martial arts (MMA) fighter Xu Xiaodong knocking out self-proclaimed tai chi master Wei Lei in about 20 seconds. The video quickly went viral on Sina Weibo. Later, Xu proclaimed that he had exposed what he called “fake martial artists.” The video has drawn attention to the state of traditional Chinese martial arts. The Beijing News reported on Friday that Shaolin Temple, the famous birthplace of one of China's martial arts, has broadened its business interests beyond teaching martial arts into martial arts performances, tourism and medicine. Other traditional Chinese martial arts have tried to follow its example, but have had less success. Given the early stage of the development of traditional Chinese martial arts, industry experts said that there are no clear business models for martial arts at present.
Source: Global Times | 2017/5/9 19:03:39

Sewer systems leave many newly built wastewater treatment plants with idle capacity

China plans to spend 564.4 billion yuan ($81.79 billion) on the country's sewer systems and wastewater treatment facilities during the 13th Five-Year Plan period (2016-20). Rapid infrastructure investment during the 12th Five-Year Plan period (2011-15) greatly improved the country's sewage treatment capacity in cities, yet much of that capacity has gone unused because local sewer systems lack the capacity to deliver the wastewater. The situation is worse in rural areas where sewer system development has lagged behind that of cities. To rectify this issue, the central government has made up a plan to increase the amount of installed sewer pipeline by 42.5 percent from 2015 levels by the end of 2020.
Source: Global Times | 2017/5/8 18:58:39

Boosted by passenger train, Chinese city aims to attract travelers to Mongolia

One important goal of the China-proposed “One Belt and One Road” (B&R) initiative is facilitating the exchange of people. As the initiative gathers momentum, the city of Erenhot, North China's Inner Mongolia Autonomous Region, and a neighboring city on the other side of the China-Mongolia border are doing what they can to boost local and cross-border tourism
Source: Global Times | 2017/5/7 17:43:39

At train station on China-Mongolia border, seamless transition of freight boosts to trade between countries

Under the “One Belt and One Road” (B&R) initiative, the notion of connectivity refers to efforts made to ensure the seamless connection of trade and transportation. It can also be referred to as improved exchanges between neighboring peoples. The Global Times visited the Erlian Railway Station in Erenhot, North China's Inner Mongolia Autonomous Region, to see what connectivity really means at the ground level.
Source: Global Times | 2017/5/3 19:43:39

Frontier city runs into challenges building trade zone on China's border with Mongolia

The border city of Erenhot, North China's Inner Mongolia Autonomous Region, is being developed as China's foremost trade city with Mongolia, China's neighbor to the north. The city's border trade zone is a key component of the autonomous region's “Open to the North” strategy and serves to advance the country's “One Belt and One Road” (B&R) initiative. However, the zone's development has run into challenges, including a slowing economy and a trading partner that has few exports to speak of. Still, local investors and merchants remain hopeful that government support and a pioneering spirit would make the trade zone a success.
Source: Global Times | 2017/5/2 20:33:39

Ancient border city gets glimpse of prosperity under 'B&R' initiative

The remote city of Horgos in Northwest China's Xinjiang Uyghur Autonomous Region was once little more than a small stop for merchant caravans on the ancient Silk Road. Centuries later, China intends to resurrect the city's past by making it a major outpost along the Silk Road Economic Belt, part of the country's “One Belt and One Road” initiative. The city, located on the China-Kazakhstan border, has benefited from the association. Rapid development fueled by infrastructure investment has transformed the city, creating new opportunities for its residents.
Source: Global Times | 2017/5/1 19:33:40

From dream to reality

Spring may be the planting season for farmers, but this year it is the season that the world's major aircraft makers harvest what they have sown.
Source: Global Times | 2017/4/27 19:28:41

Sportswear's dash to digital

E-commerce has swept the sportswear industry both at home and abroad. According to the latest annual reports of several sportswear companies, online sales have grown into an important source of revenue for the industry. The global sportswear industry is gradually turning to e-commerce to improve its business – a change that is being driven in part by the growing Chinese market, where e-commerce accounts for a significant proportion of sales. Still, some companies have been slow to embrace the change, relying primarily on their own online channels. An expert suggested they should cooperate with major e-commerce retailers to take full advantage of the shift online.
Source: Global Times | 2017/4/26 19:33:43

Under 'B&R', businesses in China's Tibet build up ties with neighboring Nepal

With the government of Southwest China's Tibet Autonomous Region eager to integrate the region into the country's “One Belt and One Road” initiative, local companies have been further developing their business ties with neighboring Nepal to tap into new markets. Agriculture has long been a pillar industry in Tibet, but it has been restrained by factors such as a dearth of supporting facilities and an inhospitable environment. These factors have made it difficult for some local companies to operate. A Global Times reporter recently traveled to an industrial park in Dagze county in Tibet to see how local companies have shifted their strategies to focus on South Asia and what obstacles they have encountered.
Source: Global Times | 2017/4/25 19:48:39

Extended railway lines give southwestern region greater access to South Asia

Improved transportation is one of the goals for integrating Southwest China's Tibet Autonomous Region into China's “One Belt and One Road” initiative. However, the region's rugged, mountainous terrain poses challenges to infrastructure development. The idea is to better link the region with South Asia, specifically India and Nepal. Trade between China's Tibet and Nepal surged by double digits in 2016, and demand for upgraded logistics services has been growing. The Global Times reporter recently traveled to Tibet to look into the difficulty of developing overland freight routes. This is the second part of a two-part story.
Source: Global Times | 2017/4/24 18:33:39

With boost in trade with Nepal, port of Gyirong county grows in importance

Southwest China's Tibet Autonomous Region is the country's new gateway to South Asia, which is expected to play an important role in China's “One Belt and One Road” initiative. As trade between China's Tibet and Nepal has grown, local authorities have stepped up efforts to integrate the autonomous region into the South Asia Economic Corridor. Domestic media has recently spotlighted a trade route between China's Tibet and Nepal and an expansion of railway freight services to the country. The Global Times reporter recently traveled to Tibet to look into how those efforts have turned out. This is the first part of a two-part story.
Source: Global Times | 2017/4/23 20:33:39

Auto sales management to improve competition, after-sales services

On Friday, the Ministry of Commerce unveiled new auto sales management measures, stating that dealers don't have to secure authorization prior to selling automobiles, and automakers and auto suppliers should not restrict dealers' operations. The new measures will take effect on July 1, replacing the 2005 auto sales management system. Experts and companies said the new measures will make the relationship between market competitors more equal and could better protect consumer interests. Meanwhile, experts said the just announced measures to create a new electric vehicle sales network will help the sector develop.
Source: Global Times | 2017/4/19 19:43:39

Listed Chinese banks confront dilemma: curtail risks or retain profits?

China's banking industry experienced head winds in 2016. With nonperforming loans (NPL) soaring, domestic commercial banks were confronted with a tough choice – either prioritize profit growth or allocate capital to hedge against NPL risks. Moreover, many banks have found that their portfolios don't meet regulations. Some experts predict that 2017 will be a turning point for the banking industry thanks to the recovering economy. However, others disagree because cutting overcapacity could undermine the quality of banks' assets.
Source: Global Times | 2017/4/18 17:03:39