China is set to spend 400 million yuan (£47 million) building a simulation base of Mars to conduct research and give locals a chance to see what living on the red planet would be like.…
Monthly Archives For September 2017
China supports UN action on North Korea, also pushes for talks
BEIJING – China supports further United Nations action in response to North Korea’s latest nuclear test but also wants to see renewed efforts to begin dialogue involving all sides, Foreign Minister Wang Yi said Thursday.…
China backs UN to take ‘necessary measures’ against North Korea’s latest nuclear testing
CHINA supports further United Nations action in response to North Korea’s latest nuclear test but also wants to see renewed efforts to begin dialogue involving all sides, Foreign Minister Wang Yi said overnight. China hopes…
Chinese logistics firm Best, backed by Alibaba, launches $932 million U.S. IPO
The Hangzhou-based company, led by Johnny Chou, a former Greater China president for Alphabet Inc’s (GOOGL.O) Google, plans to list on the New York stock exchange and the IPO will be equivalent to 16.4 percent…
China steps up financial regulation to address risks
BEIJING – China’s ban on Initial Coin Offerings (ICOs), a digital coin fundraising scheme, was only part of a broader campaign to curb the country’s financial risks. In an announcement Monday, China’s central bank ordered…
China bank regulator taps former policy bank boss as new vice chairman
BEIJING, Sept 7 (Reuters) – Zhu Shumin was appointed as a vice chairman of China’s banking regulator in August, according to the regulator’s website. Zhu was previously chairman of the Agricultural Development Bank of China,…
China’s crackdown on grey rhinos won’t reduce its debt burden, it will only redistribute it
China is putting grey rhinos – business empires that inflate through debt-fuelled asset acquisitions – on a financial diet. Unfortunately, most of China’s grey rhinos are really Ponzi schemes that live on more and more…
China Mobile posts proposes special dividend as H1 profits outperform
China Mobile proposed a special dividend on Thursday to mark the 20th year since its Hong Kong listing after first-half profits at the state-owned telecommunications group beat expectations. Net profit at China Mobile rose 3.5…
Beijing says it supports further action on North Korea, but Chinese experts doubt it will ‘obey’ US on tough sanctions
China on Thursday said it backed further measures against North Korea, although Chinese analysts doubted Beijing would support tough new sanctions being proposed by the United States. The US is seeking an oil embargo, a…
China e-car venture Future Mobility names brand Byton, eyes U.S., Europe
SHANGHAI (Reuters) – Chinese electric-car venture Future Mobility Corp, co-founded by former BMW and Nissan Motor executives, has named its brand “Byton” that it plans to launch in the United States and Europe soon after…
Apple, Chinese Brands Beat Samsung’s China Q2 Sales Despite Galaxy S8 Release
Despite bringing its Galaxy S8 flagship phone to China, Samsung still failed to increase its sales in the country. Meanwhile, Apple managed to emerge as the top smartphone seller during the second quarter, with Chinese…
Chinese logistics firm Best, backed by Alibaba, launches $930 million U.S. IPO
The Hangzhou-based company, led by Johnny Chou, a former Greater China president for Alphabet Inc’s (GOOGL.O) Google, plans to list on the New York stock exchange and the IPO is expected to value Best at…
Goldman suspends work on U.S. IPO of HNA’s Pactera unit: sources
Goldman was not formally mandated for the IPO, which was in the early stages … It is seeking to raise capital through convertible bonds, two of the sources said. HNA, one of China’s most acquisitive…
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