The boom in e-commerce and social media in China is leading hundreds of millions of Chinese consumers to pay with their mobile phones. In China, mobile payment volume increased about 165% to 208.41 trillion yuan…
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China could replace US as global financial leader: Economist
Lending restrictions imposed by the U.S.-led IMF and World Bank could see China-led financial institutions exert greater sway in the international community, says Scott Morris of the Center for Global Development. ( read original story…
HK chief executive vows to promote diversified development of financial market
HONG KONG, Oct. 11 (Xinhua) — Chief Executive of China’s Hong Kong Special Administrative Region (SAR) Lam Cheng Yuet-ngor vowed on Wednesday to reinforce and enhance Hong Kong’s status as a global financial center, an…
6 Male Luxury Brand Ambassadors in China You Need to Know
International luxury brands have increasingly acknowledged and embraced the power of Chinese male celebrities to reach consumers. Fans of male celebrities in China are predominately female, in particular, consumers who have recently demonstrated the strong…
Top 10 CPG Brands in China
While multinational CPG brands brands face growing competition and loss of market share in China, they continue to lead in digital sophistication in the country. Foreign brands claimed all of the top 10 spots in…
Chinese Youngsters’ Favorite Streaming Site Bilibili Plans for IPO in New York
Baidu’s iQIYI, often known as the “Netflix of China”, is also reportedly filling for an IPO in the U.S., according to Bloomberg. No major video streaming sites in China have turned a profit yet. When…
China targets American technology in drive to become innovation leader
China has stepped up efforts to work with American businesses in a bid to acquire advanced technology, part of a drive to become a leading technology-innovation power. “China is pushing to further deepen technology collaboration…
BMW eyes possible electric vehicle joint venture in China: sources
SHANGHAI/BEIJING (Reuters) – German luxury automaker BMW is looking to form a joint venture with Great Wall Motor in China, which could focus on electric vehicles, according to two sources familiar with the matter on…
China makes progress against shadow banking: report
BEIJING, Oct. 11 (Xinhua) — China has made headway in reining in its shadow-banking sector, Fitch has said in a report, with risk control in the financial system a priority since the beginning of the…
China names new leaders of anti-corruption agencies at financial regulators
China’s Communist Party has named new top officials to lead anti-corruption agencies at the country’s banking and insurance regulators as it makes final preparations for a twice-a-decade party congress later this month. Lin Guoyao, a…
Chinese central bank official insists new cash reserves rule won’t affect resolve to cut financial risk
The plan by China’s central bank to cut the amount of cash reserves that some banks must hold will not alter policymakers’ resolve to lower financial risk, state-run China Daily reported an official as saying…
Unprecedented data trove maps China’s growing global reach and self-interest of its aid
“Irrespective of the funding source, less concessional and more commercially oriented types of official finance do not boost economic growth.” China’s secrecy on foreign aid is partly because of “domestic politics,” says Mathieu Duchatel, senior…
China moving forward with sale of US dollar denominated bonds
China is moving forward with plans to issue its first sovereign bonds in dollars since 2004 in a deal that will put a symbolic seal of approval on the booming offshore Asian debt market. The…
