Business

Experts: "Don't Blame China for Plunging Oil Prices"

Carlos Castillo   | Jan 21, 2016 09:12 AM EST

China consumed a record 10.32 million barrels of oil each day last year, according to preliminary calculations issued on Tuesday by Reuters. read more

China, Gulf States to Sign Free Trade Agreement Before end of 2016

Desiree Sison   | Jan 21, 2016 06:43 AM EST

China and the Gulf Cooperation Council (GCC) states have agreed to sign a free trade deal before the year ends after more than a decade of negotiations, which began in July 2004. read more

Chinese Start-up Meituan-Dianping Raises Whopping $3.3 Billion in Fund Raising Campaign

Girish Shetti   | Jan 20, 2016 04:16 AM EST

Chinese food delivery startup Meituan-Dianping announced on Tuesday that it has raised a whopping $3.3 Billion in a fresh round of fund raising. By doing so, the company made history as this is perhaps the largest amount raised by an internet startup company in the world. read more

Qualcomm, China's Guizhou Province Unveil Joint Venture Worth $280 Million

Alexis Villarias   | Jan 20, 2016 08:24 AM EST

Qualcomm Inc has formed a strategic business alliance with the Chinese government in a bid to establish its long-term commitment to the country. The chipmaker has pledged to invest $280 million in a joint venture with the government of Guizhou province to produce server chips for the domestic market. read more

Amazon China Granted License to Become Ocean Freight Forwarder

Alexis Villarias   | Jan 19, 2016 08:36 AM EST

Amazon would not stop at drones to improve its delivery system as the Chinese arm of the company has been granted a license by Federal Maritime Commission to become an ocean freight forwarder. read more

Adidas is Fast Closing on Rival Nike in China

Girish Shetti   | Jan 19, 2016 07:33 AM EST

German sportswear giant Adidas and its American rival Nike are two of the most famous sports apparel brands in the world, but for many years now Nike has taken sheen off Adidas's share in all the important markets. read more

CSRC Chief Xiao Gang Offers to Step Down Following Stock Market Crash – Sources

Girish Shetti   | Jan 18, 2016 04:17 PM EST

Xiao Gang, the head of China's beleaguered top securities regulator has offered to step down, as per insider sources in the securities market. read more

Baidu Gets Under Fire for Disseminating Pornography, Fake Ads and Bogus Medical Information

Girish Shetti   | Jan 18, 2016 09:46 AM EST

China's number one search engine giant Baidu has come under scrutiny from the country's technology regulator following complaints that the company is resorting to many unethical practices like pornography, fake advertisements and leak of personal information. read more

China Launches AIIB to Rebalance World Economy

Desiree Sison   | Jan 17, 2016 08:00 AM EST

Chinese President Xi Jinping has launched the Asian Infrastructure Investment Bank (AIIB), an international development bank, at a lavish ceremony on Saturday in Beijing. read more

First Batch of Hungary Meat Export to China Arrives

Marlyn Culunge   | Jan 17, 2016 06:53 PM EST

China has officially started importing beef from Hungary after the first ever shipment of 12-tonne frozen beef arrived at a Shanghai port this past week. The beef, valued at $70, 600, is expected to reach the market before the Chinese Lunar Year (Feb. 8), according to a joint press release by the Shanghai Customs and Shanghai Entry-Exit Inspection and Quarantine Bureau on a joint press release. read more

China Officially Becomes 67th Member of European Development Bank

Mars Woo   | Jan 17, 2016 02:55 AM EST

Two days before launching the Asia Infrastructure Investment Bank (AIIB), China became an official member of the European Bank for Reconstruction and Development (EBRD), one of the world's most important global financial institutions for development. read more

China's Economic Growth Hits Nearly 7% in 2015

Mars Woo   | Jan 17, 2016 01:58 AM EST

Despite weaker domestic and global demand, China's economy managed to grow almost 7 percent in 2015, supported by employment and household income, according to Chinese Premier Li Keqiang. read more

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