China Unicom posted service revenue of CNY 240.98 billion in 2016, up 2.4 percent year-on-year. EBITDA amounted to CNY 79.50 billion, down 9.1 percent year-on-year and accounting for 33 percent of service revenue. Profit reached…
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China Unicom's profits plunge as it battles competition
Increasing competition has hit the country’s major telecommunications company China Unicom which has reported a 94 percent plunge in net profits to 625 million yuan ($90.7 million). The carrier’s annual report, released on Wednesday, shows…
Unicom posts lower profit, sales
HONG KONG－State-owned China Unicom Hong Kong Ltd reported a drop in revenue and profit for 2016 due to a huge investment in 4G and broadband network infrastructure, amid fierce competition among domestic telecom heavyweights. The…
China Unicom (Hong Kong) Limited (CHU) Rating Increased to Buy at Deutsche Bank AG
China Unicom (Hong Kong) Limited (NYSE:CHU) was upgraded by equities researchers at Deutsche Bank AG from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. Separately, Nomura downgraded shares…
China plans to build its 1st structure on disputed land in South China Sea near US military assets
Boats at Scarborough Shoal in the South China Sea are shown in this handout photo provided by Planet Labs, captured on March 12, 2016. Thomson Reuters BEIJING (AP) — China plans to build the first…
Beijing Government Raises Downpayment Requirement for Second Homes in the City
BEIJING — The Beijing municipal government said on Friday it has raised the downpayment requirement for second home purchases in the city to at least 60 percent. The new rule goes into effect from March…
What will die first, cash or password?
The growth in mobile payments will spur the development of China’s digital verification industry. According to the latest report released by domestic consulting company iResearch, the market scale of China’s third-party mobile payment more than…
Chinese tech titan Alibaba invests 1 billion yuan in mobile gaming distribution
The company is investing 1 billion yuan in an alliance with a handful of other mobile gaming firms to distribute offerings between China and other parts of the world. Getting mobile games in front of…
China beats India hollow in net access, smartphone ownership
Smartphone ownership in China has jumped 31 percentage points since 2013, but in India it has increased by only six points during the same time period. While virtually every Chinese person surveyed owns at least…
China outpaces India in internet access, smartphone ownership
Reported smartphone ownership in China has jumped 31 percentage points since 2013, but only 6 points in India over the same time period. And while virtually every Chinese person surveyed owns at least a basic…
China adds Pinterest to list of banned sites
China’s Great Firewall is cracking down on Pinterest, the social media platform popular for letting users share, or pin, items of interest to a virtual board. For years, Pinterest has been freely accessible in China,…
China loosens some license requirements for foreign banks
SHANGHAI China’s banking regulator scrapped license requirements for foreign and joint-venture lenders in the country for treasury bond underwriting, custody and advisory services among other services on Friday. The move comes as President Xi Jinping…
China’s cautious financial opening up does not make it an enemy of the US
Last month, China commemorated the 20th anniversary of the death of Deng Xiaoping ( 鄧小平), the chief architect of the economic reform and opening up that catapulted the country to the top rungs of the…
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