Business

KFC Wins Lawsuit Against 3 Chinese Firms Over Mutant Chicken Rumors

Girish Shetti   | Feb 03, 2016 12:58 PM EST

A Shanghai court on Wednesday fined three local Chinese tech firms for spreading false rumors about KFC fast food chain. The false rumor activities mainly included uploading doctored photos of deformed chickens on social media accounts and using it as propaganda against KFC. read more

Chinese Court Delivers Verdict Over Meat Scandal Involving McDonald's and Yum Brands' Supplier

Charissa Echavez   | Feb 03, 2016 10:25 AM EST

Ten employees of American food supplier OSI Group have been sentenced to imprisonment and fined up to 2.4 million renminbi (US$364,875) by a Chinese court for reusing returned food products to avoid losses. read more

European Steelworkers Blame China for Steel Crisis, Slam Weak EU Action

Staff Reporter   | Feb 03, 2016 05:51 AM EST

The European Union (EU) last Saturday slapped anti-dumping tariffs on Chinese steel imports in an attempt to save thousands of jobs across the continent, but the leaders of the continent's steel industry claim the measures are an insult to European manufacturers. read more

China Communications Construction Company Honours Foreign Employees

Alexis Villarias   | Feb 03, 2016 05:21 AM EST

China Communications Construction Company Ltd. (CCCC) has honoured ten of its best employees from overseas. read more

Online Financial Company Ezubao Faces Crackdown for Stealing More Than $10 Billion in Ponzi Scheme

Girish Shetti   | Feb 02, 2016 08:48 AM EST

Chinese police on Tuesday took 21 employees of online financial company Ezubao into custody for allegedly stealing more than $10 billion from millions of investors. read more

China Now Has More than 100 Million Stock Market Investors

Mars Woo   | Feb 01, 2016 02:36 AM EST

Despite the volatility in the Chinese markets, the number of stock market investors in China has soared to 100.4 million in January, according to the China Securities Regulatory Commission. read more

China's Manufacturing Activity Hits 3-Year Low in January

Staff Reporter   | Jan 31, 2016 09:34 PM EST

For the sixth straight month, China's manufacturing activity, which is one of the major factors that determine the country's economic health, contracted in January, government data released on Monday showed. read more

Australian Poultry Eggs Enter Taiwan Market for the First Time

Mia Ren   | Jan 31, 2016 08:48 AM EST

The first shipment of poultry eggs from Australia to Taiwan has been approved on Thursday for release by Taiwanese authorities, marking a landmark in Australia-Taiwan trade relations. read more

Bill Gates Sells Photography Archives to Chinese Company

Mia Ren   | Jan 31, 2016 08:18 AM EST

Bill Gates' extensive archives of the world's most famous photos have been sold to Visual China Group (VCG). read more

Shenzhen's Civilian Drones Export Volume Increases Seven-Fold

Charissa Echavez   | Jan 30, 2016 12:14 PM EST

According to the customs office, civilian drones' export volume in Shenzhen has increased seven times, with a year-on-year reach at more than 3 billion yuan (over $470 million) in 2015. read more

Wanda Partners With Dolby to Open 100 Cinemas Across China in 5 Years

Charissa Echavez   | Jan 29, 2016 01:50 PM EST

Over the next five years, Wanda Cinema Line, the biggest theater chain in China, has announced that it will be opening 100 new cinemas equipped with Dolby Cinema's projection and sound system. read more

Pharmaceutical Companies Fined for Monopolizing Allopurinol

Mia Ren   | Jan 29, 2016 10:41 AM EST

The National Development and Reform Commission (NDRC) learned that five Chinese pharmaceutical companies have been conspiring to fix the price of allopurinol. read more

McDonald's to Let Customers Make Their Own Burger in Beijing

JB Cach   | Jan 29, 2016 10:17 AM EST

In a pursuit to win over other stores in China's increasingly competitive fast food scene, McDonald's has unveiled a new store in Beijing – one that offers burger customization to hungry Chinese customers. read more

China's Supreme Court Firm on $25 Million Fine for Water Pollution

Mia Ren   | Jan 29, 2016 07:42 AM EST

China's Supreme Court is not giving second chances. The country's top court has rejected the appeal for a new hearing of a company involved in one of the biggest environmental public interest case. read more

Alibaba Defies Sluggish Economy as Revenue and Sales Surge

Girish Shetti   | Jan 28, 2016 05:40 PM EST

China's ecommerce Giant Alibaba Group Holding Ltd on Thursday beat market estimates, as it announced better than expected third quarter results, with both sales and revenue recording better than expected growth. read more

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