AB Volvo owns 45 per cent of Dongfeng Commercial Vehicles, one of China’s largest truck makers, and also has a significant construction equipment business in China. The value of the investment amounted to around 27.2…
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China’s Geely takes $3.3-billion stake in Swedish truck maker Volvo
China extends tax rebate on hybrid and electric cars
China will extend a tax rebate on purchases of so-called new-energy vehicles (NEV) until the end of 2020, a boost for hybrid and electric car makers amid a shift by policy-makers away from the traditional…
Beijing moves to curb online personal loans
Soon you get addicted to it.” With more than US$100 billion worth of loans and rising worries among Chinese consumers about privacy, Beijing is moving to rein in online personal loans. Last month, the People’s…
Sunac China Holdings Increases Stake in LeEco’s Le Vision Pictures
The drama of China’s entertainment and tech group LeEco continues to unfold as property developer Sunac China Holdings has increased its stake in one of the troubled group’s subsidiaries. According to an announcement made on…
China defends sanctions work after report of NK oil transfer
BEIJING – China’s foreign ministry has defended its enforcement of U.N. sanctions against North Korea following reports Chinese ships improperly transferred oil to North Korean vessels at sea. A ministry spokeswoman, Hua Chunying, said Wednesday…
China’s central bank to standardize QR code payment
BEIJING, Dec. 27 (Xinhua) — The People’s Bank of China (PBOC) announced plans Wednesday to regulate QR code payment to contain risks arising from the popular service. Payment institutions must obtain proper permits to offer…
China is still struggling to build a global fashion brand – not that producing a worldwide label matters
One of the most talked-about events at London Fashion Week in September was the opening of the first boutique of Huishan Zhang, a Chinese designer based there. Located on Mount Street, the same address as…
China’s Geely buying stake in Swedish truck maker Volvo
Geely owns Geely Auto, one of China’s biggest independent automakers. It agreed in May to buy 49.9 per cent of Proton and 51 per cent of Lotus, which was owned by the Malaysian automaker. Geely…
China Unicom becomes Beijing 2022’s telecommunication services partner
BEIJING — China Unicom, a leading telecommunication service provider in China, has signed up as the official telecommunication services partner for the 2022 Olympic and Paralympic Winter Games. Han Zirong, secretary general of the Beijing…
China Construction Bank : funds coal away from home
Nguy Thi Khanh, executive director and founder of the Green Innovation and Development Centre (GreenID), a Vietnamese non-profit promoting sustainable energy sector development, told VIR that China is playing a very substantial role in coal…
China’s Geely adds to Swedish assets with AB Volvo stake
China already has the largest automotive sector in the world … Earlier this year, Geely agreed to buy 49.9pc of Malaysian car business Proton and 51pc of Lotus, which was owned by Proton. In 2013…
China lashes out at German ambassador over cyber security
Foreign companies use VPNs to communicate securely with their offices abroad and to see news and other websites that are blocked by Chinese web filters. Companies already cite internet controls as among the biggest obstacles…
China central bank skips open market operations for 4th consecutive day
BEIJING, Dec. 27 (Xinhua) — China’s central bank suspended open market operations for the fourth working day Wednesday, citing sufficient liquidity in the banking system. “The rising fiscal spending near year-end is sufficient to offset…
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