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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

China's multi-storey hog hotels elevate industrial farms to new levels

On Yaji Mountain in South China's Guangxi Zhuang Autonomous Region, farmers check in sows a thousand head per floor in high-rise “hog hotels.”
Source: Reuters | 2018/6/20 16:58:39

North Korea's tourism sector set to thrive as country develops coastal regions

The Wonsan-Kalma area in North Korea's Kangwon Province, best known for its four-kilometer sandy beach resort called Myongsasipri and its modern international airport that was completed in 2015, is helping to drive the country's coastal tourism.
Source: Global Times | 2018/6/19 17:03:40

Modernization of rural China

China's ongoing trend of agricultural upgrades is creating diversified jobs in rural areas including drone operators and livestream broadcasters, and their participation is not only drastically improving production efficiency but also boosting agricultural product sales.
Source: Global Times | 2018/6/18 17:03:39

Airlines struggle with global captain shortage as unions strengthen

A growing shortage of airline pilots is putting the industry's recent growth at risk as planes sit idle, higher salaries are cut into profits and unions across the globe push for more benefits.
Source: Reuters-Global Times | 2018/6/14 17:38:39

As Indians outperform Chinese in overseas corporate management, experts say China must nurture home-grown talent to catch up

Indians seem to have outperformed Chinese in terms of their presence in the corporate management world, with more Indians holding CEO positions in large multinational companies in the US such as Google and Microsoft. What's the reason behind this disparity? The Global Times spoke with two businesspeople – one Indian, the other Chinese – to find out. According to them, India's advantages in nurturing talent and in language makes it easier for Indians to adapt to different cultures, while Chinese students who studied in the US prefer to come back to China and focus on the Chinese economy.
Source: Global Times | 2018/6/12 17:13:40

EU's new GDPR privacy law could both hurt and benefit Chinese firms: reports

On May 25, the EU's General Data Protection Regulation (GDPR) – now considered one of the strictest security regulations in the world – came into force. But the law aimed at protecting internet users' privacy is actually causing widespread ramifications for companies around the world, including those in China. For China, the new regulation is a double-edged sword that could simultaneously hurt the European businesses of Chinese companies while providing profound lessons in relation to the protection of online privacy at home.
Source: Global Times | 2018/6/11 18:03:40

Integration of real economy with industrial internet boosts Foxconn's reinvention

On the occasion of its 30th anniversary of business operation on the Chinese mainland, Foxconn Technology Group announced that it will be stepping up efforts to promote intelligent manufacturing and boost the integration of the internet, big data and artificial intelligence with the real economy. The move is a bid to scrap its image as a low-cost assembler of electronic devices and to transform itself into an advanced manufacturer based on industrial internet.
Source: Global Times | 2018/6/10 16:48:40

Unexploited goldmine

Chinese e-commerce players discuss with the Global Times their vast potential in the Russian and Chinese markets. They point out what could be improved to further unleash the horsepower of the e-commerce growth engine, which is helping to accelerate the China-Russia bilateral trade volume to hit a $100 billion target.
Source: Global Times | 2018/6/6 18:13:40

Yunnan government, firms lift ethnic minorities out of poverty with organic beverage businesses

Pu'er city in Southwest China's Yunnan Province is known among Chinese people for its famous namesake tea, but many people outside of China may have probably tasted its coffee or tea products without even knowing the origin. In fact, the city has been supplying coffee beans and tea for big global brands such as Starbucks and Nestle. And now, coffee and tea businesses have become the local government's main tool in eradicating poverty.
Source: Global Times | 2018/6/5 17:43:40

On the frontline of China's fight against poverty

After having declared a war on poverty and set the ambitious goal of eradicating the issue by 2020, the Chinese government dispatched an army of officials from all over the country to fight on the frontline. But these officials, while taking pride in their role in this historic mission, are facing tremendous pressure, daunting challenges, and even danger.
Source: Global Times | 2018/6/4 16:48:39