The “China Automotive Finance Industry Report, 2017-2021” report has been added to Research and Markets’ offering. The Chinese automotive finance market now is still dominated by commercial banks with a market share of approximately 50%.…
Monthly Archives For September 2017
S&P cuts China’s debt rating over ‘financial risks’
Standard & Poor’s slashed China’s credit rating on Thursday, warning that a prolonged period of debt growth had raised “economic and financial risks”. S&P, which downgraded China’s debt from AA-minus to A-plus, is the second…
Social Media Giant Tencent Gets Into Old-School Finance
Tencent Holdings Ltd., China’s largest social media firm, is entering the traditional finance industry by investing in CICC International Capital Corp., a move that may help the investment bank’s expansion in wealth management. Shares of…
S&P cuts China’s credit rating, citing increasing economic, financial risks
(Reuters) – S&P Global Ratings downgraded China’s long-term sovereign credit rating by one notch on Thursday to A+ from AA-, citing increasing risks from the country’s rapid build-up of credit. “The downgrade reflects our assessment…
China VAT Reform Boosts Growth, Entrepreneurship
China’s VAT rate structure was further cut from four to three tiers (6%, 11% and 17%) starting from July 2017, with tax rates for farm produce, tap water and books reduced from 13 to 11%.…
Robots finds a welcome reception among China’s finance and tax services
Mainland based accountants are embracing automation to lower office administration costs and enhance efficiency, moves which are opening the door to a wider embrace of artificial intelligence (AI). Delixi Electric, a manufacturer of low-voltage electrical…
China hits back at U.S. over trade, says unilateralism is “unprecedented challenge”
BEIJING (Reuters) – China hit back on Thursday at recent criticism from the United States about its trade practices, saying some countries’ unilateralism is an unprecedented challenge to global trade. Ministry of Commerce spokesman Gao…
Alibaba-backed Best seeks last-mile logistics growth after IPO: CEO
HONG KONG (Reuters) – China’s Best Inc BSTI.N, flush with $450 million from a U.S. initial public offering (IPO), is broadening its scope in so-called last-mile logistics in China as a key strand of its…
China’s Baidu launches $1.5 billion autonomous driving fund
[D-REUTERSNEWS-T004/Ied9174a015dc11e69074fc5db8fe171a] Baidu’s Apollo project – named after the NASA moon landing – aims to create technology for completely autonomous cars, which it says will be ready for city roads in China by 2020. It now…
Alibaba-backed Best sees shares pop 14% in $450 million IPO
Still, the IPO was scaled back from its earlier proposals of a 62.1 million share offering, priced at $13 a share to $15 a share. Best’s delivery management system, founded in 2007, has been bolstered…
China’s top online-only insurer ZhongAn sets terms for Hong Kong IPO as Softbank weighs in
ZhongAn plans to issue 199 million new shares at HK$53.70 (US$6.88) to HK$59.70 apiece for an up to HK$11.9 billion (US$1.5 billion) IPO on the Hong Kong Stock Exchange China’s top online-only insurer ZhongAn sets…
China rises at Frankfurt car show
Tapping into nostalgia for the brand’s heyday, Borgward also unveiled a sporty Isabella concept car inspired by a legendary 1950s coupe of the same name. The reborn German-Chinese manufacturer, which is already producing cars in…
India replaces China as top retail destination in 2017: Study
“India has replaced China this year as the top retail destination as part … “This has triggered the entry of global brands into India with transparency and ease,” he added. According to India Retail Report…
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