(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…
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S&P cuts China’s credit rating, citing increasing economic, financial risks
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…
China on overtaking lane for aerospace technology development
China is now on the overtaking lane of aerospace technology development and is poised to become a major aerospace power in the world, a noted Chinese academician said Tuesday. Chinese Academy of Engineering academician Wu…
China mobile phone market insights in H1 2017
GfK released a report on China’s mobile phone industry in H1 2017 on August 18th. The report shows that China’s mobile phone retail market continued rapid growth while the volume of retail sales slowed down.…
Alibaba-backed Best Inc raises $450 million in IPO after slashing terms
The revised IPO one day before its market debut suggested weak investor … a person close to the deal told Reuters. Best was banking on China’s booming logistics market to justify its valuation, but concerns…
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