BUSINESS >> Insight

Authorities take measures to fend off risks in the online lending sector

The online cash loan industry is growing rapidly in China, boosted by the country's expanding consumption power. But problems have also arisen, as small lenders that do not hold licenses have rushed in and offered loans to borrowers without pre-selecting, driving up financial risks. As such, authorities have been drafting rules to fend off such issues, and a nationwide crackdown has already started, firstly by suspending new license issuances. Analysts predict that the new regulation could also focus on setting up a unified standard for issuing licenses, reducing the industry's high leverage ratio and limiting maximum annual interest rates.
Source: Global Times | 2017/11/29 18:03:39

Borrower data from micro-finance firms leaked online, tighter regulation needed

As consequences of the rapidly emerging micro-lending services in China, deceptive advertising to attract clients, violent debt collection as well as high interest rates and fees were criticized by the National Internet Finance Association on Friday. Some unqualified lenders have been at the center of numerous scandals after causing financial risks, threatening customers and failing to keep private data safe. Accordingly, the leaking of personal information in the industry is in need of tighter regulation.
Source: Global Times | 2017/11/28 20:08:39

Monopolistic practices of Internet giants could pose risks: experts

China's Internet giants, especially Alibaba and Tencent, have been developing at an unparalleled speed over the past two years, not only by pursuing their own business growths, but also by tapping into many traditional industries ranging from finance to transportation to medical care. Experts are optimistic about their future development, however, they expressed concerns over the potential risks of eating up too many market resources.
Source: Global Times | 2017/11/27 19:53:39

China's pig farmers go north, upending world's top meat, grain trade flows

China's largest pig farming companies and new entrants are racing to build vast, modern hog farms across the northeastern cornbelt, expanding the world's biggest pork market and upending traditional trade flows in meat and grain.
Source: Reuters-Global Times | 2017/11/26 17:53:39

Hawaiian Airlines improving its services to attract more Chinese customers

"China is a very important market for our company," Li Wei, head of Hawaiian Airlines China, said in a recent exclusive interview with the Global Times.
Source: Global Times | 2017/11/23 19:28:39

As AT&T deal opposed, prospect of tougher regulation shakes investors

The top US antitrust regulator has sent a chilling message to dealmakers with his opposition to AT&T Inc buying Time Warner Inc: Companies do not have to be competitors for their merger to hurt competition, and there are no simple fixes to getting such deals approved.
Source: Reuters-Global Times | 2017/11/22 19:18:39

Sino-South Korean bilateral economic ties show warming-up signs after THAAD dispute

According to foreign reports, the long-stagnant economic relationship between South Korea and China, prompted by tensions over the controversial missile defense system that was deployed in the former, is showing early signs of a revival, especially in sectors such as investment, tourism and retail. But one expert noted that those signs are “fragmented and blurry,” with improvements set to take place only in the long term. Companies in China with South Korea-related businesses also told the Global Times that they are not seeing any significant improvements yet.
Source: Global Times | 2017/11/21 19:38:39

China fills part of US void on climate without dominating talks

China has filled some of the void on climate change leadership left by US President Donald Trump's decision to quit the 2015 Paris climate pact by curbing its own greenhouse emissions and it has done so without seeking to dominate the talks, delegates at the most recent talks held in Bonn, Germany said.
Source: Reuters-Global Times | 2017/11/20 18:03:39

Regulators open up the country's finance sector

In practice, a combination of well-entrenched local companies and an opaque regulatory regime means global banks will move only very cautiously to exploit the new rules, bankers and lawyers said.
Source: Reuters-Global Times | 2017/11/19 18:53:39

China will need 60-100 of the aircraft in the next 5-7 years to support growing air traffic: Airbus

As the largest and most expensive wide-body passenger aircraft flying in the world's skies today, the Airbus 380 (A380) has attracted widespread attention since its entry into service in 2007.
Source: Global Times | 2017/11/16 18:23:39

It's time for business: Trump visit sparks golden era for China-US trade cooperation

US President Donald Trump's state visit to China, which sparked business deals worth more than $250 billion, has laid out a positive path for future Sino-US business cooperation – one that will focus on trade rather than political disputes. However, volatilities will persist within the bilateral trade relationship due to lingering differences.
Source: Global Times | 2017/11/14 17:08:39

2017 a key year for China's AI industry as it begins to outperform the US in tech breakthroughs

China and the US are now the two world leaders in pursuing AI development. 2017 in particular has been a key year for China's AI industry, as more and more domestic companies have been making technological breakthroughs within the sector and as the application of AI has been penetrating all aspects of daily life in China. During the AI World 2017 summit held in Beijing on Wednesday, experts discussed what milestones the domestic AI industry has reached so far.
Source: Global Times | 2017/11/13 17:23:39

China's delivery sector goes green over environment and cost concerns

China's e-commerce industry is boosting the development of the domestic express delivery sector, which is gradually becoming smarter and more efficient. But the “aftermath” of China's annual online shopping spree, known as ''Singles' Day''– when hundreds of millions of tons of packaging waste is generated – is troubling the sector. This has led e-commerce firms and government authorities to show their determination in addressing environment issues, which analysts say is a good start, but warn there are still many hindrances ahead.
Source: Global Times | 2017/11/12 17:18:39

American Airlines launches nonstop daily service from Beijing to LA

American Airlines (AA), the world's largest carrier by fleet size, commenced its nonstop daily passenger service between Beijing and Los Angeles on Monday, the first US airline to offer such service between the two countries.
Source: Global Times | 2017/11/9 16:23:40

Local authorities work to alleviate poverty in Muslim community, align religion with socialist values

In some Chinese regions where ethnic minority groups reside, fighting poverty is a big challenge. Some experts suggested that an overwhelming sense of religious practice might hinder local economic growth and that some communities should become more modernized and live in line with the country's socialist values. A Global Times reporter recently traveled to Linxia Hui Autonomous Prefecture in Northwest China's Gansu Province to find out more.
Source: Global Times | 2017/11/8 18:43:39

As Singles' Day approaches, China commits to an eco-friendly courier sector

While online marketplaces in China are busy preparing for an upcoming shopping bonanza with promises of faster delivery to woo buyers, the government has started working on addressing the “aftermath” of online sales – hundreds of millions of tons of packaging waste generated across the country each year.
Source: Xinhua-Global Times | 2017/11/7 17:23:39

China's burgeoning biotech industry pioneers discovered-in-China medicines as regulatory reforms drive drug innovation

Investors are betting on China's potential to feed the global pharmaceutical pipeline, putting a multibillion-dollar price tag on a handful of stocks, even as the country struggles to close a huge R&D gap with the West.
Source: Reuters-Global Times | 2017/11/6 16:58:40

In the wake of Cellon's controversial report, experts look into Jiangxi's business environment

An investigation report which blames the local government in Gongqingcheng, East China's Jiangxi Province, of directly causing communication services provider Cellon to fall has gone viral. In the wake of the report, an increasing number of investors ponder whether Jiangxi is a good destination to invest. The Global Times recently spoke with businessmen and experts to figure out what Jiangxi's investment environment is currently like in terms of governance, policy consistency and government supportive measures.
Source: Global Times | 2017/11/5 17:43:39