Business

China's Luxury Goods Industry set for Profitable Future: Experts

Desiree Sison   | Feb 29, 2016 07:36 AM EST

High-end retailers, investors, and industry insiders have been unanimous in saying that China's luxury goods industry is still well on its way to profitability despite losses it incurred for the second year in a row in 2015. read more

Land Supply for Real Estate in China Dropped in 2015

Charissa Echavez   | Feb 29, 2016 08:41 AM EST

Supply of government-owned construction land in China dropped last year, with land allocated for real estate development affected most, according to the Ministry of Land and Resources (MLR). read more

LeTV's Revenue Rose by 91 Percent in 2015

Charissa Echavez   | Feb 29, 2016 08:07 AM EST

Thanks to the robust sales of its smart TV products, the revenue of China's LeTV increased last year, according to its initial earning estimate revealed on Sunday. read more

US urges China to continue reforms toward market-oriented exchange rate

Carlos Castillo   | Feb 29, 2016 07:15 AM EST

The US government on Sunday called on China to continue along the path toward a more market-oriented exchange rate even as it underscored the need for Beijing to clearly communicate its policies to the financial markets. read more

Paris Club of Lenders woo China, but Would not Bend Rules for Beijing

Carlos Castillo   | Feb 28, 2016 07:13 AM EST

Discussions are underway at G-20 summit in Shanghai to grant the world's second largest economy membership to the Paris Club, an informal association of creditors that specialize in loans to governments, ministers and finance officials. read more

China's Central Bank Chief Says no More Devaluation of Yuan

Girish Shetti   | Feb 27, 2016 12:05 PM EST

Speaking at a G20 meeting of Central Bank Governors and Finance Ministers in Shanghai, China's Central Bank Chief Zhou Xiaochuan clarified that China would not stage another devaluation of the Yuan, adding that the Central Bank still has enough room and tools in its monetary policy to cope with potential downslide. read more

Didi Kuaidi Raising 1$ Billion to Compete With Uber in China

Girish Shetti   | Feb 26, 2016 01:13 PM EST

Didi Kuaidi, China's biggest ride-hailing company, is all set to raise at least $1 billion in fresh round of fundraising, according to a source close to the company. read more

PBOC Urges Higher Fiscal Deficit Ahead of G-20 Talks

Carlos Castillo   | Feb 26, 2016 06:31 AM EST

Executives and researchers at the People's Bank of China (PBOC) on Wednesday urged Beijing to tolerate a much higher fiscal deficit than its current ceiling allows, claiming cheap bank loans can no longer drive China's economic expansion. read more

China's Excess Production Slows Down Economic Recovery: Report

Alexis Villarias   | Feb 25, 2016 12:55 PM EST

Excess industrial production has worsened the economic slowdown in China, according to a report released on Monday by the European Chamber of Commerce. Ultimately, this could lead to global economic disorder, the report warns. read more

Fears of 'Manipulation' Shadow Casin Group's Chicago Stock Exchange Deal

Carlos Castillo   | Feb 25, 2016 05:23 AM EST

Fears of covert Chinese 'manipulation' have cast doubt on Chongqing Casin Enterprise Group's bid to take over the Chicago Stock Exchange (CHX), according to experts, as a group of 46 US legislators have stepped up their campaign to strike down the deal over national security concerns. read more

Amazon Kindle Rolls Out New Read-All-You-Can Service in China

Charissa Echavez   | Feb 25, 2016 04:44 AM EST

Amazon Kindle officially rolled out a new subscription service in China on Tuesday, offering clients all-you-can-read e-books for a monthly subscription fee of only 12 yuan ($1.84). The company said the move follows its observation that there is a growing interest in China for paid content. read more

Chinese Company Wins Thinnest Condom Lawsuit Against Japan's Okamoto

Charissa Echavez   | Feb 24, 2016 06:34 AM EST

Two Asian firms have been fighting over the right to the title of being the manufacturer of the world's thinnest condom - and a Chinese company has won the case. read more

LeTV Accuses Baidu of Unfair Competition

Charissa Echavez   | Feb 23, 2016 12:52 PM EST

One of the biggest online video companies in China LeTV has filed a case against Chinese web service provider Baidu on grounds of illicit competition, accusing the latter for allegedly blocking all advertisements while LeTV is streaming online to users, a Beijing court revealed on Monday. read more

Value of Chinese Comedy Firm's Shares Increases by 44 Times in Single Month

Charissa Echavez   | Feb 23, 2016 12:40 PM EST

The value of the shares of comedy stage show and film firm Beijing Fun Age Entertainment Co Ltd. has increased by 44 times after it was unveiled during the third national equity exchange in China last month. read more

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