 EconomyLoop where regional business news becomes global to everyone  | ||
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| Central bank drains 40b yuan from market via reverse repos China's central bank refrained from injecting cash into the market, making a net cash withdrawal via open market operations for the third consecutive day on Wednesday.... read more
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| Uber's business continues to grow amid recent turmoil US car hailing giant Uber reported on Wednesday that its gross bookings rose 17 percent to $8.7 billion in the second quarter, as the company was still under the shadow of series of scandals earlier this year.... read more
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| World Bank finances China's farmland pollution control The World Bank is to lend $100 million to a program to reduce heavy metal pollution in China's largest rice-producing province.... read more
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| Ford to establish new company with China's Zotye to build electric vehicles Ford Motor on Aug 22 said in a statement that it had signed a memorandum of understanding with China's Zotye Auto to establish a new joint venture for the development, manufacture, sales, and service of electric vehicles.... read more
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| China on rapid progress of robotization: study China bought 90,000 robots in 2016, accounting for almost a third of the global total, and the robot revolution may raise China's economic competitiveness.... read more
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| Chinese listed companies report strong profits in H1 Over 70 percent of Chinese listed companies reported strong profits for the first half of the year.... read more
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| China softens restrictions on unregistered businesses China on Wednesday unveiled a new regulation on unlicensed businesses in a move to ease restrictions and encourage entrepreneurship and innovation.... read more
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| China on rapid progress of robotization: study China bought 90,000 robots in 2016, accounting for almost a third of the global total, and the robot revolution may raise China's economic competitiveness, according to a report released this week by Bloomberg Intelligence.... read more
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| China starts building Internet security institute Construction started on an Internet security training institute in central China's Hubei Province Wednesday.... read more
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| China steps up deleveraging at central SOEs China will further reduce leverage at central State-owned enterprises by establishing multiple channels to reduce corporate debts, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.... read more
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| US sanctions seen as 'wrong behavior' US sanctions imposed this week go against mutual trust and bilateral cooperation, China said on Wednesday, asking the United States to stop its "wrong behavior" immediately.... read more
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| Approval of Unicom share sale touches rule revision China's top securities regulator should review and reassess the current rules on private share sales by listed companies to ensure market fair play.... read more
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| Spacety joins race for an out of this world experience Spacety Co Ltd will use most of them to supply data to research institutions and other business customers.... read more
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| Commercial sector faces slow burn China's commercial space sector will eventually take off after a few bumpy launches.... read more
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| Metal futures slide on new push Iron ore and steel products futures in China saw a big slump on Wednesday, due to regulators' determination to curb rising prices.... read more
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| Great Wall Motor pours cold water on deal with Fiat Great Wall Motor Co has discounted reports of an impending deal with Fiat Chrysler Automobiles NV, saying there are no talks and it may not pursue a takeover of the Italian-American car manufacturer's Jeep division.... read more
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| Top 10 best cities for startups in China Beijing is the most startup friendly city in China, according to latest ranking.... read more
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| Newfound profits to cut debt of SOEs China will further reduce leverage at central State-owned enterprises by establishing multiple channels to reduce corporate debts.... read more
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| Siasun eyes overseas targets Siasun Robot & Automation Co will step up efforts to acquire foreign companies, as it strives to become a global robot heavyweight in 2020.... read more
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| Microsoft says new chatbot is a 'friend' Microsoft Corp has unveiled its latest generation of smart chatbot as part of its broader push to tap into internet of things opportunities in China.... read more
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| Excavator sales set to jump in 2017 Chinese excavator manufacturers are expected to see a 50 percent year-on-year jump in sales to 120,000 units by 2017, despite the low stocks available due to the quiet market in the past five years.... read more
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| Close links mean little chance of major trade war, says leading expert The possibility of China and the US engaging in a major trade war is low given their close economic links, said a former central bank adviser.... read more
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| Wanda pulls out of London deal Dalian Wanda has pulled out of plans to buy part of the Nine Elms Square site in central London, which comes hot on the heels of the Chinese government's latest rules on investment in overseas deals.... read more
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| Big retail should be enhanced by social media opportunities Social media is set to become a major gateway to shopping rather than a mere communication portal, as the younger generation of buyers are inclined to make purchases while watching livestreaming shows.... read more
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| To boldly go where no startup has gone before Space is the final frontier for private firms as they muscle into an area dominated by State-owned companies.... read more
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| Effort to marry robotics, AI will ramp up to aid manufacturing China will ramp up efforts to integrate artificial intelligence technologies into robots as the country aims to gain a lead in the race toward a smarter, automated society and accelerate the use of industrial and service robots.... read more
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| Shares edge lower SHANGHAI stocks dipped yesterday, led by decline of steel and energy companies. The Shanghai Composite Index shed 0.08 percent to close at 3,287.70 points. Iron and steel companies, non-ferrous metal... read more
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| BRICS an outstanding force in governance ... read more
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| Chinese listed firms post strong net profits in H1 OVER 70 percent of Chinese listed companies reported strong profits for the first half of the year. As of Monday, 1,004 Chinese listed companies had disclosed their first-half reports with total net profit... read more
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| VIPKID raises US$200m VIPKID said yesterday it raised US$200 million from investors including Sequoia Capital and Tencent Inc — the biggest investment in the student’s online education industry so far. The firm will use the... read more
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| Beef imports surge in July BEEF imports to Shanghai in July were the strongest, led by shipments from Australia and the United States, Shanghai Customs said yesterday. Beef imports surged 30 percent month on month to a record of... read more
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| IPR issues to be traded More than 200 domestic and foreign intellectual property issues are expected to be traded at the annual Culture Licensing Fair of the Shanghai Pilot Free Trade Zone next month.... read more
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| Boost to green protection CHINA expects the output of equipment used to protect the environment to total 1 trillion yuan (US$150 billion) by 2020, the Ministry of Industry and Information Technology said yesterday. Companies with... read more
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| Banks in UK to close record 762 branches in 2017 BANKS in Britain are set to close a record 762 branches this year, depriving more customers of access to in-person financial services as lenders cut costs by pushing business online. The number of branches... read more
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| Deleveraging set as high priority in central SOEs CHINA will channel more energy into deleveraging in state-owned enterprises administered by the central government amid improving corporate performance. A State Council meeting presided over by Premier... read more
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| Repatriation of gold reserves ... read more
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| Wal-Mart China to expand in Jiangsu WAL-MART China said yesterday it will open at least five new Sam's Club stores in Jiangsu Province and to increase investment in the next three years to tap the growing local economy. The Wal-Mart US... read more
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| Internet firms aim to drive O2O business INTERNET companies are looking at new ways for offline merchants to tap China's smartphone users as a key part of their strategy to drive the online-to-offline business. WeChat launched Mini Apps earlier... read more
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| US malls eye replacements for department stores AS the retail industry churns in the Amazon era, American shopping malls are turning to a new generation of stores, food and entertainment offerings to make up for an exodus of department stores. Prime... read more
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| Wal-Mart and Google tie up to battle Amazon ... read more
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| Beijing aims high in robotics Beijing plans to develop into a global center for robotics by 2025 and has issued an industry blueprint at the ongoing World Robot Conference.... read more
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| Over 70 percent of Chinese consumers aware of sustainable consumption More than 70 percent of Chinese consumers understood sustainable consumption, according to a report released by the China Chain Store and Franchise Association.... read more
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| Social media set to become main shopping channel Social media is set to become a major gateway to shopping rather than a mere communications portal.... read more
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| English education startup VIPKID raises $200m Online children English education startup VIPKID announced on Wednesday that it has finished the D round of financing and received an investment totaled totaling $200 million.... read more
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| Russian underwater performers' Chinese dream Five Russian underwater performers realized their dream of performing underwater ballet in China at Zuohai Underwater World in Fuzhou, East China's Fujian province.... read more
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| Wanda pulls out of London project Chinese conglomerate Dalian Wanda has pulled out of plans to buy part of the Nine Elms Square site in central London.... read more
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| Thai cabinet approves design contract of Thailand-China railway project Thai cabinet on Tuesday approved the draft design contract of the Thailand-China railway project to pave the way for the signing early next month.... read more
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| Chinese firm to deliver Nigeria's metro rail by December The China Civil Engineering Construction Corporation said the phase one of a rail transit project in Nigeria's Abuja will be commissioned by December.... read more
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| Chinese carmaker to build monorail in Philippines China's leading new-energy carmaker BYD announced that it will build a monorail transit system in the Philippines.... read more
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| Supply-side reform invigorates old SOEs Supply-side reform has been reinvigorating state-owned enterprises across the nation, but it is not all plain sailing.... read more
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