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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 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

Let's breed

The donkey is more than just a mode of transport in some less economically developed countries. Its skin can be used to produce ejiao, a traditional Chinese medicine that is gaining worldwide popularity due to its blood-nourishing benefits. But the rising demand of ejiao is causing the mass death of donkeys every year. And farmers' reluctance to enhance breeding has provoked concerns among experts that the global donkey population is at risk of endangerment. In order to ensure a supply-demand balance in the market, an international alliance of firms and experts has recently been established to boost donkey cultivation around the world.
Source: Global Times | 2017/8/20 18:23:39

Flight delay fiasco

Extreme weather unavoidably affects the punctuality of flights, but improvements in early warnings and control mechanisms can be achieved to reduce the impact of environmental influences on aviation efficiency, experts have advised.
Source: Global Times | 2017/8/17 18:33:40

Lithium trade to transform

China is a country with large lithium carbonate reserves, with the figure standing at 17 million tons in 2016. But China still imports a large amount of the material used for lithium-ion batteries in new-energy vehicles, which an expert said is due to inadequacy in lithium exploitation mainly caused by geographical difficulties. Thus, many domestic lithium resource developers like Huayou Cobalt Co and Jiangxi Ganfeng Lithium Co have begun expanding overseas by making full use of lithium resources in Australia and Africa.
Source: Global Times | 2017/8/16 17:53:39

Beyond Wangjing

Wangjing, the famous Korea Town in Beijing, is a place where many South Korean companies are located. But as more South Korean businesspeople become increasingly familiar with other areas in or bordering Beijing, some are considering moving their offices or starting their businesses in these areas to pursue low costs. But wherever South Korean companies are located in Beijing, they inevitably face increasing competition from local firms, especially in the Internet sector.
Source: Global Times | 2017/8/13 17:33:40

Transatlantic alliance announced

A transatlantic alliance between three global airlines will shore up their positions in the lucrative UK-US market, shielding them from low-cost rivals and the uncertainties of the UK's exit from the EU.
Source: Reuters-Global Times | 2017/8/10 18:13:39