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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

An all-out fight against poverty

The Chinese government has made eradicating poverty a top priority, vowing to lift millions of people out of poverty by 2020. With a huge impoverished population, Southwest China's Yunnan Province is a must-win battlefield for reaching the goal. Facing mounting pressure, local officials have launched all-out efforts to fight poverty, which have made great progress but revealed new challenges.
Source: Global Times | 2018/6/3 17:13:40

New aviation era: How China became the biggest Airbus market

European aircraft manufacturer Airbus entered the Chinese market amid China's early reform and opening-up.
Source: Global Times | 2018/5/31 18:03:40

MSCI inclusion not an A-share savior

On Friday, the first batch of Chinese mainland-listed stocks will be included in the MSCI indexes, an inclusion that China has been striving toward for years. But some active fund managers have noted that they won't immediately react by changing their investment portfolios after the inclusion. Some domestic media have cautioned that investors should not get carried away by the news. But some experts nevertheless have stressed that the inclusion will be a big bonus for domestic stock markets as increased investor confidence can drive up stock prices.
Source: Global Times | 2018/5/30 0:03:40

HK firms aid mainland's opening-up

Since the Chinese mainland decided to open up its economy to foreign investors in 1978, companies from Hong Kong have been contributing greatly to the mainland's drive in foreign trade and the domestic manufacturing industry. Hong Kong business representatives told Global Times reporter Huang Ge that the mainland's investment environment has kept improving thanks to the opening-up policy, which has also brought many opportunities to Hong Kong firms. Those companies are now expected to help mainland companies understand how to protect their intellectual property.
Source: Global Times | 2018/5/29 15:33:39

HTC bets on VR to reVive its smartphones

To the outside world, HTC's phone business is close to death, especially after Google bought a chunk of the Taiwan-based phone maker's smartphone design talent in January. But to the company, they believe they still have a future in the smartphone world, particularly when it comes to integrating the device with virtual reality (VR) and augmented reality (AR).
Source: Global Times | 2018/5/28 17:43:39

Russian ice cream brands eye hungry Chinese market but challenged by emergence of fake goods

Promoted by Russian President Vladimir Putin as a state gift during the 2016 G20 Hangzhou Summit, Russian ice cream has since won a niche market in China. As the business grows, Russian ice cream makers are finding themselves in an uphill battle to further promote the dessert among Chinese consumers as they tackle the copycats stealing their limelight.
Source: Global Times | 2018/5/27 17:43:40

Let's talk demographics

The growth rate in the number of domestic internet users began slowing down in 2017, prompting analysts to speculate that the country's internet industry, propelled by its population dividends, will soon begin to plunge. However, at the same time, there is a potentially sizeable market worth billions of yuan in the country's third- and fourth-tier cities, as demonstrated by hit market apps Pinduoduo and Qutoutiao. The Global Times recently spoke to two users of the apps to find out how internet start-ups tailor their services to capitalize on that particular untapped market.
Source: Global Times | 2018/5/23 17:18:39

Medical tourism emerges in Hainan

It has been one month since the Chinese government announced its plans to build South China's Hainan Province into a free trade port. Under the plan, Hainan will focus on the development of tourism, modern services and high-tech sectors so they can become supportive industries in boosting local economic growth. Has the tropical island become the recipient of a new wave of domestic and foreign tourists? Will medical tourism and duty-free shopping become new sources of tourism revenue in the future? Global Times reporter Li Xuanmin recently paid a flying visit to Hainan to investigate. This is the second part of a two-part story.
Source: Global Times | 2018/5/22 17:33:40

Investors gamble with Hainan's fledgling horse race industry amid drive to open up local economy

China announced in mid-April that it would build its southern island of Hainan into a free trade port by 2025. Under relevant guidelines, Chinese authorities in the province will encourage horse-racing events that adopt lottery models as part of its plans to further open up the province's economy. Global Times reporter Li Xuanmin recently visited Hainan to investigate how far the island is away from realizing a mature horse-racing industry. This is the first part of a two-part story.
Source: Global Times | 2018/5/21 17:23:39