BUSINESS >> Insight

Cheesy challenge

China has temporarily halted imports of certain European soft cheese such as Brie, Camembert, Epoisses, Bleu, Fourme d'Ambert and Roquefort, industry insiders told the Global Times. In the wake of the suspension, the Global Times visited international supermarkets in Beijing and spoke with consumers, company representatives and analysts to figure out the reasons behind the import halt as well as its potential market impact.
Source: Global Times | 2017/9/19 18:28:39

The Orlando of China

Just a stone's throw across a narrow waterway from the world's largest gambling hub Macao, a former oyster farming island in Zhuhai city, South China's Guangdong Province, is being transformed into China's newest tourist haven.
Source: Reuters-Global Times | 2017/9/18 16:23:39

Bitcoin blunders

China's virtual currency market has been experiencing an earthquake in recent days, with several trading platforms announcing closure and the government banning ICOs. The new government regulations have caused some investors to dump their virtual coins in panic, while others are still gripping onto their tokens. But industry insiders told the Global Times that alternative trading channels, such as private trading or trading on overseas platforms, will prevail, regardless of the crackdown.
Source: Global Times | 2017/9/17 17:38:39

Busy Chengdu skies

Chengdu, capital of Southwest China's Sichuan Province, has become one of the most attractive and important hubs for domestic airlines, as they look to expand in one of the country's most vibrant and promising regions.
Source: Global Times | 2017/9/14 17:38:39

Fast tempo era

China's ever-expanding digital music industry was one of the hottest on the agenda during global music industry event “Music Matters” held in Singapore from Monday to Tuesday, with worldwide company representatives all highlighting the sector's huge market potential in the near future. As a firm owner of music copyrights in the domestic market, Tencent Music Entertainment Group (TME), Tencent's music unit, has been leading the industry. During the music event, the Global Times had an exclusive interview with TME CEO Cussion Pang to try and gauge the industry's profitability and future growth models.
Source: Global Times | 2017/9/13 17:33:39

The new AI front-runner

A recent report by Goldman Sachs indicated that China has the resources and ambitious, high-level government plans to support artificial intelligence (AI) development and machine learning over the next few years. In the report, the investment bank identified four key factors for the growth of the AI industry – talent, data, infrastructure and computing power. By now, China already has the first three factors needed to fully embrace AI. Some talents who studied and worked overseas shared their stories with the Global Times to explain why they came back to China.
Source: Global Times | 2017/9/12 17:38:39

Secrets of wanghong stores

In recent days, reports about wanghong stores – stores that are popular on the Internet – hiring cappers to create a busy customer atmosphere have gone viral. Domestic entrepreneurship services provider cyzone.cn reported in June that Heytea milk tea hired actors to queue up in front of the stores to pretend to be customers. To dig out the secrets of such a promotional method, the Global Times visited some popular stores and interviewed extra actor service providers over the weekend.
Source: Global Times | 2017/9/11 17:03:40

Beautification obsession

The domestic cosmetic surgery market is capitalizing on residents' growing demand for looking as good as possible. Industry insiders told the Global Times that the popularity of plastic surgery hospitals and cosmetic filler products is increasing, reaping gross profit as high as 70 percent of the total industry revenues. Nevertheless, the industry is plagued with slim net profit margins, generally lower than 10 percent, largely because of rising expenses on marketing and hiring experienced surgeons. Also, as uncertified cosmetic surgeries emerge, experts are suggesting that Chinese authorities should beef up regulation.
Source: Global Times | 2017/9/10 17:53:40

United Technologies touts $23 billion deal as stock drops, Boeing turns critic

Investors and Boeing Co gave two thumbs down on Tuesday to aerospace and industrial company United Technologies Corp's $23 billion plan to buy avionics maker Rockwell Collins Inc.
Source: Reuters-Global Times | 2017/9/7 17:08:39

Growing headwinds

A potent cocktail of rising costs and falling returns are behind declining first-half core profits at China's largest airlines, in a sign of the stronger headwinds they face as they compete to expand their route networks.
Source: Reuters – Global Times | 2017/8/31 18:38:39

Rental car-sharing business burgeoning amid difficulties

With a boom in shared economy supported by national policy, rental car-sharing business has rapidly emerged as a part of the public transport system in Chinese cities in the last two years. But, while demand is rising, firms engaged in the rental operation are also facing an array of bottlenecks such as high operational costs and limited parking or charging facilities. Experts suggest firms should adopt a collaborative strategy to survive and thrive in the sector, which is projected to be a future trend featuring self-driving technology.
Source: Global Times | 2017/8/30 17:13:39

Opulence along the shore

The Chinese government's commitment to build the country into a maritime power offers growth opportunities for the Qingdao West Coast New Area, which has abundant marine resources and robust sea transportation. As a key juncture on China's Belt and Road (B&R) route, the West Coast New Area encourages local enterprises to expand presence in markets along the route as well as welcome foreign firms to make investments in the local markets. In order to overcome challenges related to going global, Chinese companies need to enhance competitiveness by improving their comprehensive and innovative abilities, said a local official.
Source: Global Times | 2017/8/29 17:33:39

Manufacturing revolution

In 2016, Qingdao-based tire manufacturer Doublestar Group created the first industrial 4.0 intelligent plant in the world, a breakthrough which came several years after the company began suffering from sluggish profits. The company is one of the many examples of old and traditional Chinese manufacturers that have sought to transform themselves through upgrading and adopting intelligent technologies. The local government of the West Coast New Area has also been committed to bringing in advanced technology from foreign countries like Germany, exemplifying its strong commitments to the “Made in China 2025” plan, which aims to upgrade the manufacturing industry.
Source: Global Times | 2017/8/28 19:23:40

A green finance future

China is aiming high when it comes to pursuing green development and boosting its energy-saving and environmental protection industries. And green financing is one of the key areas waiting to be tapped.
Source: Agencies-Global Times | 2017/8/27 17:03:39

CAAC seeks competitive market

Popular international routes in and out of China could soon be inviting more players, making the industry more competitive, as the Chinese aviation regulator plans to make some reforms.
Source: Global Times | 2017/8/24 17:53:40

Chinese passenger numbers forecast to reach 10m by 2030: EID

As Chinese cruise tourist numbers get set to reach 2.6 million this year, market analysts share their perspectives on the growing domestic cruise tourism market with the Global Times. However, concerns over industry sustainability and warnings about cruise port excess from experts have begun to loom.
Source: Global Times | 2017/8/23 18:08:39

Thriving border city

Heihe, a border city in Northeast China's Heilongjiang Province, is considered the ''twin city'' of Russia's Far East Blagoveshchensk. The distance between the two cities is about 750 meters and Russians and Chinese can visit each city by crossing the Heilongjiang River, also known as the Amur River, by boat. The small proximity between the two has also enabled the local trading business to flourish. The Global Times recently visited the border city, which has been an important port to Russia for decades, to see how businesses have evolved and boomed there.
Source: Global Times | 2017/8/22 17:03:39

Real estate stabilization

Beijing authorities are mulling over new homes that will be owned jointly by the government and individuals to help first-time home buyers get onto the property ladder. In addition, the government has rolled out strict criteria that requires, for example, buyers not to own an existing home and single buyers to be at least 30 years old. It will be possible for buyers to pay 75 percent of the total apartment price and hold corresponding ownership with authorities, according to experts. The new policy could also encourage other Chinese cities to release further cooling measures and shared-ownership housing could be soon rolled out on a national level.
Source: Global Times | 2017/8/21 17:53:39