Home » Archive

Articles in the Business Category

Business, China, Headline »

[24 Oct 2017 | No Comment | ]

By SUI-LEE WEE in The NY Times online, Oct 23, 2017
BEIJING — Guo Junwen was a successful property developer in southwestern China when the authorities threw him behind bars three years ago on charges involving land use and seized his business.
Now free, Mr. Guo — who still disputes the charges — says the police are refusing to return money they still owe him under Chinese law.
“They said, ‘We have no choice, Old Guo,’” Mr. Guo said in a telephone interview from the Indonesian island of Batam, where he lives part …

Bangladesh, Business, China, Headline »

[15 Oct 2017 | No Comment | ]

by Rejaul Karim Byron in The Daily Star, Oct 15, 2017
The deal signed between Beijing and Dhaka for setting up a dedicated economic zone in Chittagong during Chinese President Xi Jinping’s visit to Bangladesh last year is yet to see any progress.
Some 26 deals were signed during Xi’s visit to Dhaka in October last year with a view to boosting trade and investment between the two countries. Of the deals, there has been movement on only one-fourth of them.
The joint venture agreement for Chinese economic and industrial zone is one …

Business, China »

[2 Oct 2017 | No Comment | ]

Bloomberg report in South China Morning Post, Oct 2, 2017
China’s drive to cut pollution could reduce economic growth by 0.25 percentage points in the next six months while boosting factory inflation, according to Paris-based banking and financial services firm Societe Generale.
Production cuts to curb emissions and tougher nationwide environmental inspections would also support the profits of large industrial companies as producer prices rose, Yao Wei, the company’s chief China economist, said.
The campaign would give a “notable supply shock” to the economy, she said.
“The Chinese government has turned very serious about …

Business, China »

[18 Sep 2017 | No Comment | ]

China’s largest arms manufacturer became a stock-holding company after the SOE structural reform.
China North Industries Group Corporation, also known as Norinco Group, started mixed ownership pilot reforms at its tank factory in Baotou, north China’s Inner Mongolia Autonomous Region. It was once a state-owned business.
“We’ve introduced private capital and reallocated resources, so it’s no longer a state-owned company. It is now transparent financially, but of course, the defense technology remains confidential. Now it’s responsible to shareholders and investors,” said Yin Jiaxu, Chairman of Norinco.
Norinco builds private affiliates for …

Business, China »

[13 Sep 2017 | No Comment | ]

by Jane Li in South China Morning Post, Sept 13, 2017
Things just got even worse for LeEco, the debt-laden Chinese technology giant once touted as a serious challenger to the likes of Apple, Tesla and Amazon.
In another body blow for its embattled founder, Jia Yueting, China’s highest court has placed two of the company’s subsidiaries on a blacklist of debt defaulters owing money to suppliers.
Inclusion on the list places restrictions on some of the firms’ executives, including a ban on travelling by aeroplane in the mainland.
The blacklisting is …

Business, China, Headline »

[8 Sep 2017 | No Comment | ]

By Lingling Wei in Beijing and Saumya Vaishampayan in Hong Kong
A recent surge in the value of the yuan has blindsided Wall Street and stands to complicate China’s efforts to simultaneously manage a slowdown in growth while deepening its ties to global markets.
The yuan jumped to its strongest level in 16 months this week, bringing its total gain versus the dollar to 7% in 2017, more than recouping all of its decline last year. Last month alone, the yuan soared 2% against the dollar, notching its biggest monthly advance since …

Business, China, Headline »

[25 Aug 2017 | No Comment | ]

Xinhua report in Global Times, Aug 24, 2017 at 13:11:50
China’s top disciplinary watchdog has named a number of grassroots officials implicated in abuse of poverty relief funds.
The nine cases involve dereliction of duty, embezzlement of poverty relief funds and theft of allowances for house renovation, according to the Communist Party of China (CPC) Central Commission for Discipline Inspection (CCDI).
In one case, Long Zuoshi, former Party chief of Jile Village in Hunan Province, was stripped of his CPC membership for stealing 81,800 yuan (12,300 US dollars) of poverty relief funds and …

Business, CPEC, Headline, PAK-CHINA TIES »

[24 Aug 2017 | No Comment | ]

by Zafar Bhutta in The Express Tribune, Aug 23, 2017
ISLAMABAD: Islamabad and Beijing are unlikely to welcome other countries to become part of the China-Pakistan Economic Corridor (CPEC) before 2020 as they will wait until energy and industrial projects are completed, say officials.
Pakistan and China are developing energy projects of $35 billion under CPEC and want to complete them first before opening the door to Middle Eastern states, Iran and Central Asian countries for joining the gigantic economic corridor.
Some of the power projects like Sahiwal coal power plant have been …

Business, China, Featured »

[24 Aug 2017 | No Comment | ]

Comment in Global Times, Aug 23, 2017 at 21:48:40
(The article was compiled based on a report by Beijing-based private strategic think tank Anbound)
The risk of yuan depreciation doesn’t seem to be troubling investors any longer, with the currency having been on a gradual upward trend for about three months.
The central parity rate of the yuan was set at 6.6633 per US dollar on Wednesday, according to the China Foreign Exchange Trading System.
There is a correlation between the appreciation of the yuan and the rise in China’s foreign exchange reserves. The …

Business, China, Featured »

[24 Aug 2017 | No Comment | ]

By Frank Tang in South China Morning Post, Aug 23, 2017 at 10.55pm
The credit rating of China’s Anbang Life Insurance Co was downgraded by Dagong Global Credit Rating Co on Wednesday, three months after the regulator curtailed its operations and two months since the chairman of its parent company disappeared from public sight.
The downgrade by one notch to AA+ came as Dagong said in a statement that Anbang Life is facing growing debt repayment pressure as a result of liquidity strains and falling investment yields.
Anbang Life is an arm of …