Business

Alibaba's Jack Ma to Buy Hundsun Stake for US$530 Million

Marcel Woo   | Apr 03, 2014 06:33 AM EDT

Alibaba founder Jack Ma is paying up to 3.29 billion Yuan (US$530million) for a controlling stake in a Shanghai-listed major financial software company, Hundsun Technologies. read more

Intel Capital Launches US$100 Million China Fund

Marcel Woo   | Apr 03, 2014 04:21 AM EDT

Intel Capital, the global investment and merger & acquisitions arm of Intel Corp, said it has started US $100 million fund that it will use to invest in various gadgets and devices in China. read more

BMW China to Recall 232,000 Vehicles

Marcel Woo   | Apr 02, 2014 09:45 AM EDT

China's quality watchdog announced today that BMW, the world's luxury car maker, will recall a total of 232,097 cars in China through its China units BMW Brilliance Automotive and BMW China. read more

Purchasing Manager’s Index Shows Mild Improvement

Hao Ren   | Apr 01, 2014 11:59 PM EDT

A very slight increase of 0.10 to China's Purchasing manager's Index (PMI) from February to March is seen as a positive indicator on attaining the projected annual growth target of 7.5% for this year. read more

Maoming Petro Chemical Plant on Hold

Hao Ren   | Apr 01, 2014 11:58 PM EDT

The municipal government of Maoming in the southern region of Guangdong province is inclined not to approve the construction of a petrochemical plant if majority of the residents do not approve. read more

Xi to European Union: Free Trade Pact Needed

Dean M. Bernardo   | Mar 31, 2014 11:16 PM EDT

Chinese President Xi Jinping called on the European Union through its council President, Herman Van Rompuy, to have the two become "partners for growth," through the offering of opportunities via the establishment of an investment treaty and a free trade pact. read more

Huawei Aims for US$70 Billion Sales in 2018

Hao Ren   | Mar 31, 2014 10:51 PM EDT

China's largest telecommunications equipment supplier and services firm, Shenzhen-based Huawei Technologies, reports a whooping 34 percent increase in profits last year with goals to double the profits by 2018. read more

Shanghai Raises Minimum Wage Rates

Marcel Woo   | Mar 31, 2014 09:57 PM EDT

Minimum wage for workers in Shanghai will be raised to 1,820 yuan or US$293 per month, the highest in mainland China, starting April, state media reported. read more

Alibaba To Continue Cooperating with Banks

Marcel Woo   | Mar 31, 2014 08:05 AM EDT

Chinese e-commerce giant Alibaba said it hopes to continue working with commercial banks in China even as the Industrial Commercial Bank of China (ICBC) restricted trade with Alipay last week. read more

China's Foreign Debt Hits US$863 Billion

Marcel Woo   | Mar 31, 2014 08:03 AM EDT

The State Administration of Foreign Exchange (SAFE) said China's outstanding external debt, or foreign debt, reached US$863.2 billion at the end of 2013. read more

China Real Estate Development Enters Cool Down Phase

Hao Ren   | Mar 30, 2014 10:09 PM EDT

China's real estate sector is showing signs of a major slowdown as several completed and on-going projects are slashing down prices. read more

China, Germany Consider More Flow of Goods Through New Silk Road Train Line

Hao Ren   | Mar 30, 2014 05:25 AM EDT

China and Germany on Saturday demonstrated how their growing economic ties can be pushed into a yet more dynamic era in the next five to ten years through the new Silk Road train line connecting Chongqing and Duisburg. read more

Credit System Created for Small Business and Farm Households

Hao Ren   | Mar 29, 2014 11:41 PM EDT

The People's Bank of China (PBoC) has issued a guideline that will establish the process of creating a credit system to help small to micro-sized businesses and farming households gain access to needed capital. read more

China Opens Exchange Trading Center for Rare-Earth Elements

Hao Ren   | Mar 29, 2014 11:27 PM EDT

China launched its first ever commodities exchange center for rare-earth elements in Inner Mongolia in a bid to diffuse global perception on alleged monopoly on the elements. read more

ICBC Beats Forecast with US$42.3-Billion Profit

Marcel Woo   | Mar 29, 2014 11:49 AM EDT

The Industrial and Commercial Bank of China (ICBC), the largest bank by total assets and one of China's four major banks, beat a lower growth prediction by announcing a net profit of 263 billion yuan (US$42.3 billion) in 2013. read more

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