Date
21 February 2020

Business

  • Shenzhen airport Oct passenger traffic up 14.4%, paper says

    Nov 7, 2013 9:49am
    Shenzhen airport said passenger traffic was up 14.4 percent year on year at 2.88 million in October, China Securities Journal reported Wednesday. Cargo and mail throughput increased 8.1 percent to 77,900 metric tons in the month....
  • Central bank sets RMB midpoint firmer at 6.1450

    Nov 7, 2013 9:36am
    The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1450 on Thursday, 25 pips stronger than the 6.1475 fixing on Wednesday, according to the China Foreign Exchange Trade System. The...
  • Govt lifts curbs on air fare discounts, paper says

    Nov 7, 2013 9:31am
    The Civil Aviation Administration of China and the National Development and Reform Commission have issued a joint circular lifting restrictions on air fare discounts, the Securities Times reported Wednesday. Airlines will now be allowed to freely...
  • Taiwan healthcare firm eyes Shanghai free trade zone, CNA says

    Nov 7, 2013 9:18am
    Taiwan’s Show Chwan Health Care System has applied for a license to operate in the Shanghai free trade zone and, if successful, would be the first Taiwanese medical business in the area, Central News Agency reported Wednesday, citing...
  • Can Wahaha avoid getting another big hangover in Baijiu market?

    Nov 7, 2013 9:06am
    Just in March, Wahaha Group boss Zong Qinghou {宗慶后} swore in an interview that he would never again try to enter the market of Baijiu, a kind of Chinese distilled spirits, even if a great opportunity...
  • Govt to boost financial leasing industry, paper says

    Nov 7, 2013 8:50am
    The central government is studying preferential policies to promote the development of the financial leasing industry, China Securities Journal reported Thursday, citing Zhang Shudong, an official of the commerce ministry. China already offers preferential taxes and...
  • Merchants Securities October net profit dips 45%, filing says

    Nov 7, 2013 8:49am
    China Merchants Securities (600999.CN) recorded a net profit of 132 million yuan (US$21.5 million) in October, down 45 percent from September, it said in a regulatory filing Wednesday. Operating revenue fell 35 percent month on month...
  • Waste incineration power sector moves into the fast lane

    Nov 7, 2013 8:27am
    Helped by clear-cut subsidies, preferential on-grid tariff and tax concession, China’s waste incineration power industry has begun to reap the rewards of their huge upfront expenditure. The policy-driven sector is now gaining further momentum with solid...
  • Ctrip Q3 net profit soars 92%, paper says

    Nov 7, 2013 8:23am
    Ctrip.com International Ltd., a Chinese online travel services provider, posted a net profit of 373 million yuan (US$60.7 million) in the third quarter, up 92 percent from a year earlier and beating market expectations, National Business...
  • October passenger rail traffic surges 12.1%, Xinhua says

    Nov 7, 2013 8:19am
    Railway passenger traffic rose 12.1 percent year on year to 188.08 million in October, Xinhua news agency reported Wednesday, citing official data. The growth came as daily train traffic hit 10.33 million passengers on Oct. 1,...
  • BMW China franchise stores hit 400, paper says

    Nov 7, 2013 8:18am
    BMW has opened its 400th franchise store in China, National Business Daily reported Thursday, citing a company statement. The carmaker expects the number to exceed 430 by the end the year, an unnamed source was quoted...
  • Ministry considers opening pawn sector to foreigners, CNR says

    Nov 7, 2013 8:11am
    The Ministry of Commerce is studying issues regarding the possible opening of the pawn sector to foreigners, China National Radio reported Wednesday, citing an unnamed official. As for the auction sector, data showed there were 6,052...
  • Fourth case of H7N9 bird flu in China in 3 weeks, SCMP says

    Nov 7, 2013 8:08am
    A new human case of H7N9 bird flu has been confirmed in Zhejiang province, the fourth on the mainland in three weeks, the South China Morning Post reported Thursday. Hong Kong’s Centre for Health Protection has been...
  • First online insurer opens in Shanghai, Xinhua says

    Nov 7, 2013 8:05am
    China’s first online insurance company has opened in Shanghai with a registered capital of one billion yuan (US$164.14 million), the official Xinhua news agency reported Wednesday. Zhongan.com, a joint venture between Alibaba Group, Ping An Insurance (Group) Co....
  • China extends tax break for postal companies, paper says

    Nov 7, 2013 7:55am
    Postal enterprises providing services to the Postal Savings Bank will continue to enjoy exemption from business tax until the end of 2015, China Securities Journal reported Thursday, citing an official notice. The tax exemption is being...
  • Media regulator probes Nongfu complaint, CNS says

    Nov 7, 2013 7:54am
    The State General Administration of Press, Publication, Radio, Film and Television is investigating a complaint by Nongfu Spring, a bottled-water maker, that a Beijing newspaper has deliberately defamed the company, China News Service reported Thursday, citing...
  • Suning sees lower 4Q gross margin, website says

    Nov 7, 2013 7:51am
    Suning Commerce Group Co. Ltd. (002024.CN), the country’s largest electronics retailer, said its gross margin may fall in the fourth quarter after it stepped up spending on online sale promotions, news website caijing.com reported Wednesday, citing the...
  • Huawei to invest US$600 mln on R&D work for 5G, paper says

    Nov 7, 2013 7:48am
    Telecom equipment giant Huawei Technologies Co. Ltd. announced on Wednesday that it will invest at least US$600 million in research and development of fifth-generation mobile technology by 2018, China Daily reported Thursday. The company’s move is part...
  • Global property firms in China elderly home projects, WSJ says

    Nov 7, 2013 7:11am
    Several global property firms are joining Chinese developers in capitalizing on the demand for elderly housing as the country’s population ages, the Wall Street Journal reported Wednesday. Merrill Gardens Related, a joint venture between real-estate developer...
  • Big 4 banks October new loans hit 182 bln yuan, paper says

    Nov 7, 2013 7:08am
    China’s four major banks extended a combined 182 billion yuan (US$29.87 billion) in new loans in October, a drop of almost 40 billion yuan year on year, Shanghai Securities News reported Thursday. Analysts attributed the fall to seasonal...