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Marcel Woo

China Joins US Offshore Tax Evasion Treaty

Jul 01, 2014 07:01 PM EDT

China now has better mechanism in fighting tax evasion abroad as it officially joins the US treaty on sharing bank account information - the US Foreign Account Tax Compliance Act (FATCA) - which took effect on 1 July.

Tencent Pays US$736 Million for Stake in 58.com

Marcel Woo |

Jul 01, 2014 03:59 AM EDT

China's Tencent Holdings Limited, Asia's largest Internet company, has agreed to pay US $736 million for a 19.9 percent stake in 58.com, a Chinese classified ads similar to Craigslist.

China Welcomes Foreign Investors in Top 5 Banks

Marcel Woo |

Jul 01, 2014 02:24 AM EDT

China is opening up its five largest banks to a new round of foreign investments, allowing foreign companies to invest into major banks with higher holdings, Australian officials who visited China recently revealed.

Man Cuts Body, Cooks Head of Victim in Germany

Marcel Woo |

Jun 28, 2014 01:53 AM EDT

A regional court in Berlin, Germany, has sentenced to less than four years in jail a German sales man who was found guilty of hacking, slicing up, and then cooking the head of a bank clerk during a sex game gone wrong.

Chinese Student Kills Self After Losing World Cup Bet

Marcel Woo |

Jun 24, 2014 12:01 PM EDT

After losing more than US$3,000 of borrowed money betting on the ongoing FIFA World Cup games in Brazil, a Chinese college student decided to leap to his death because he could no longer repay his debts.

China Raises Retail Prices of Gasoline, Diesel

Marcel Woo |

Jun 24, 2014 11:30 AM EDT

Retail prices of gasoline and diesel in China have been increased following the rise in international crude prices due to the decrease in US crude inventories, the country's top economic planner said.

Premier Li's Cultural Visit in Greece Shows China Goes Beyond Deals

Marcel Woo |

Jun 22, 2014 06:17 AM EDT

Chinese Premier Li Keqiang visited two famous sites in Greece on Saturday, in what is considered as a light moment to end his European visit, sending a message that Chinese leaders' overseas trips are not focused solely on business deals.

Xinjiang Police Station Attack Kills 13, Injures 3

Marcel Woo |

Jun 21, 2014 01:16 AM EDT

Thirteen people were killed while three policemen were injured when gangsters ram a truck into a police station in Xinjiang Uygur Autonomous Region Saturday morning, in another apparent terrorism attempt, the local government told reporters.

Beijing Proposes 12% Average Salary Increase in 2014

Marcel Woo |

Jun 20, 2014 03:44 AM EDT

Workers in Beijing should expect a salary increase of 16 percent at the highest and 4 percent at the lowest after the local government released its suggestive guidelines for average wage increase this year at 12 percent.

Sitting Increases Risk of Cancer by Up to 66%

Marcel Woo |

Jun 17, 2014 12:40 PM EDT

Spending more hours of the day sitting in the office or watching TV can increase the risk of cancer by up to 66 percent, a study published in the Journal of National Cancer Institute said.

Haier To Lay Off 10,000 Workers This Year

Marcel Woo |

Jun 17, 2014 11:42 AM EDT

Chinese home electronics and appliances manufacturer Haier Group announced that it will lay off around 10,000 workers this year, after cutting 16,000 jobs last year, as part of its adjustment in relation to the changing market in China.

Great Wall Motors Denies Plan to Lay Off 20,000 Workers in China

Marcel Woo |

Jun 16, 2014 04:24 AM EDT

Chinese car manufacturer Great Wall Motors Corporation has denied media reports that it will lay off around 20,000 workers in China within this year due to dwindling sales.

Italy Cuts Down Visa Processing Time for Chinese Tourists

Marcel Woo |

Jun 12, 2014 03:32 AM EDT

In an effort to further entice Chinese tourists to Italy, the Italian government announced that it will trim the visa processing time for Chinese citizens who want to travel to the European country to 36 hours.

WeChat Shuts Down 20 Million Prostitution-Related Accounts

Marcel Woo |

Jun 12, 2014 03:13 AM EDT

A total of a 20 million WeChat accounts related to prostitution and pornography have been shut down so far this year as Chinese authorities intensify their campaign against online pornography.

US, Canada Top Immigration Destinations for Wealthy Chinese

Marcel Woo |

Jun 09, 2014 12:01 PM EDT

China's high-net-worth individuals (HNWIs), commonly known as the wealthy Chinese, prefer the United States and Canada as top destination to immigrate, even if both countries have recently changed its immigration policies recently.