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China eyes US$58b in satellite navigation sales

China eyes US$58b in satellite navigation sales

THE scale of China’s satellite navigation business will surpass 400 billion yuan (US$58 billion) by 2020, said an official at an academic conference yesterday. Ran Chengqi, an official at BeiDou Navigation ...

May 25, 2017, Thursday


Chinese banks join global payment format

Chinese banks join global payment format

AN additional 11 Chinese commercial banks have joined a global payments innovation (gpi) initiative to offer faster, more transparent and traceable cross-border payments for Chinese companies. The initiative ...

May 25, 2017, Thursday


Progress seen in mixed-ownership reform in SOEs

Progress seen in mixed-ownership reform in SOEs

CHINA’S mixed-ownership reform in centrally administered state-owned enterprises has made steady progress, the country’s top economic planner said yesterday. Two groups of about 20 central SOEs have ...

May 25, 2017, Thursday


Foiling sharks in the pool of student loans

Foiling sharks in the pool of student loans

EIGHTEEN years after Chinese banks stopped issuing credit cards and standard consumer loans to students because they were considered too risky, two state-owned banks have resumed campus consumer lending. China ...

Leng Cheng | May 25, 2017, Thursday


Geely buys 49.9% of Malaysia’s Proton to grow in Southeast Asia

Geely buys 49.9% of Malaysia’s Proton to grow in Southeast Asia

ZHEJIANG Geely Holding Group, the Chinese owner of Sweden’s Volvo Cars, has agreed to buy 49.9 percent of Malaysian automaker Proton, gaining a platform to expand into Southeast Asia. The deal gives ...

May 25, 2017, Thursday

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China not manipulator of RMB exchange rate: MOC

China not manipulator of RMB exchange rate: MOC

ACCUSATIONS of China manipulating the renminbi exchange rate are unfair and not objective, the Ministry of Commerce (MOC) said Thursday. China has been working on improving the market-based RMB exchange ...

May 25, 2017, Thursday


SOEs record slower profit growth in April

SOEs record slower profit growth in April

PROFIT growth at China’s state-owned enterprises slowed in April, official data showed yesterday. SOEs made combined profits of 824.8 billion yuan (US$119.7 billion) between January and April, up 24.8 ...

Feng Jianmin | May 25, 2017, Thursday


Deal for BeiDou cooperation

Deal for BeiDou cooperation

A declaration on BeiDou coopera­tion between China and Arab countries was signed yesterday, helping Arab countries benefit from China’s BeiDou Navigation Satellite System. “The declaration will provide ...

May 25, 2017, Thursday


Student-focused talent development promoted

Student-focused talent development promoted

THE annual conference on Higher Education Innovation and the Wisdom Lake Internationalization Summit of Higher Education was held at Xi’an Jiaotong-Liverpool University in Suzhou between May 19 and 21. Under ...

Yang Meiping | May 25, 2017, Thursday


AI use seen in more industries

AI use seen in more industries

ARTIFICIAL intelligence technology, which AlaphGo used to beat the world’s top Go player in human-versus-machine matches, will soon be used in more general sectors, industry officials and scientists told ...

Zhu Shenshen | May 25, 2017, Thursday


Rockwell posts strong sales gain

Rockwell posts strong sales gain

SALES of automation products provider Rockwell Automation have “surged by double-digit annual growth” in China since October as the company tapped the automation trend in the country’s food and beverage, ...

Song Yingge | May 25, 2017, Thursday


Hualong One pilot nuke project to take shape

Hualong One pilot nuke project to take shape

CHINA’S first pilot nuclear power project using Hualong One technology, a domestically developed third-generation reactor design, will soon take shape with its containment dome expected to be installed ...

May 25, 2017, Thursday


High-level talent set for 25% pay raise

High-level talent set for 25% pay raise

HIGH-LEVEL talent can expect a salary rise of up to 25 percent, although average salary may increase 8 percent and junior positions face downward pressure, two separate reports said yesterday. Companies ...

Feng Jianmin | May 25, 2017, Thursday


China dismisses credit downgrade

China dismisses credit downgrade

CHINA’S Ministry of Finance dismissed yesterday’s decision by Moody’s Investors Service to downgrade the country’s credit rating for the first time in nearly 30 years, saying the ratings agency was exaggerating ...

Leng Cheng | May 25, 2017, Thursday


China dismisses Moody’s downgrade of China’s rating

China dismisses Moody’s downgrade of China’s rating

RATING agency Moody's Investors Service downgraded China's rating to A1 from Aa3 today, citing worrying level of rising debts, while China's Ministry of Finance dismissed the decision later in a statement, ...

Leng Cheng | May 24, 2017, Wednesday


 

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