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China market B2C transaction value over CNY133 billion in 1Q13 says Analysys
In the China market, B2C (business to customer) online shopping operators generated a total sales transaction value of CNY133.12 billion (US$21.38 billion) during the first quarter of 2013, slipping 4% on quarter but growing 96.3% on year, according to China-based consulting company Analysys ...
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Rainstorms hit South China
Police rescue residents in Cuiwei village, Zhuhai, in South China's Guangdong province, on May 22, 2013. Primary and middle schools closed as the city received 318 millimeters of rainfall in 11 hours on Wednesday. Nanyangpu village was swamped with up to three meters of rain, and 1,200 trapped villagers were transferred. [Photo by Li ...
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Hackers Find China Is Land of Opportunity
Name a target anywhere in China, an official at a state-owned company boasted recently, and his crack staff will break into that person's computer, download the contents of the hard drive, record the keystrokes and monitor cellphone communications, too. Pitches like that, from a salesman for Nanjing Xhunter Software, were not uncommon at a crowded trade show this month that brought together ...
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10000 people suffer due to manganese tainted tap water in S China town
At least 10,000 people suffered a shortage of drinking water in a South China town on Wednesday following the detection of excessive manganese in the tap water. "The city government of Lufeng in Guangdong Province said the manganese level in the tap water in Da'an town was 1.2 mg per liter since Monday, 12 times the maximum amount allowed in drinking water," reports Xinhua.he ...
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Fifth GMIC Closes in Beijing Perfect Worlds Investment Philosophy Becomes an Eye Catcher
BEIJING, May 23, 2013 /PRNewswire/ -- The fifth Global Mobile Internet Conference ("GMIC") was recently held at the China National Convention Center. For years, the GGS Mobile Game Summit, a core part of GMIC, has provided a communication platform and created business opportunities for mobile gaming professionals worldwide, significantly promoting the match-up between game developers ...
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HSBC China profit up in 2012
(18 mins ago) HSBC (China) recorded a 11.7-percent growth in net profit to 3.62 billion yuan. Operating income rose 10.5 percent from a year ago to 8.99 billion yuan, with pre-tax profit up 8.6 percent to 4.48 billion ...
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First China manufacturing shrinkage in 7 months HSBC
BEIJING (AFP) - Manufacturing activity in China contracted in May for the first time in seven months, HSBC said Thursday, in another sign of the weakness of recovery in the world's second-largest economy.The banking giant's preliminary purchasing managers' index (PMI) fell to 49.6 this month from a final 50.4 in April, putting it below the 50 mark that indicates contraction. A ...
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$A lower after China data Fed comments
Disappointing Chinese manufacturing figures and comments from the US central bank boss have sent the Australian dollar to a fresh one-year low.The local unit went as low as 96.28 US cents on Thursday morning, its weakest level since June 2012.At 1200 AEST, it was trading at 96.40 US cents, down from 97.82 cents on Wednesday.Recent speculation that the Federal Reserve was considering winding back ...
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Survey shows China manufacturing contracting
HSBC economist Hongbin Qu in a statement, "The cooling manufacturing activities in May reflected slower domestic demand and ongoing external headwinds." He said that showed a possible "downside risk to China's fragile growth recovery" while signs of weakness in the labor market "call for more policy support" from the ...
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China strengthens Zimbabwe ties with vice-presidential visit
The Chinese official arrived in Zimbabwe on Tuesday on an official visit to boost business and bilateral relations between Harare and Beijing. He was welcomed at the Harare International Airport by Vice President Joice Mujuru, Defence Minister Emmerson Mnangagwa and Minister of State in the Vice President’s Office Sylvester Nguni. Speaking to journalists soon after arrival, the Chinese ...
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China Solar Talks With Europe Go Dark
Solar panel arrays. Most of these are made in China. Not if Europe can help it. (Photo credit: Wikipedia) The Chinese solar panel industry isn't having any luck with the European Union, which has slapped high tariffs on Chinese made photovoltaics. China and the E.U. agreed to discuss alleged dumping by China into Europe, undercutting local solar panel producers. The talks were held ...
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Injured baby finless porpoise dies in E China
A baby porpoise struggles at a water science research center in East China's Jiangxi province, May 22. The porpoise, only a few days old, was found by Jiujiang River on Tuesday evening, with injuries to its fin and abdomen. The porpoise died Wednesday after medical efforts ...
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China yuan weakens to 6.1947 against USD
The Chinese currency Renminbi, or yuan, weakened 43 basis points to 6.1947 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading ...
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Thunderstorm slams S. Chinas Zhuhai
A powerful thunderstorm hit Zhuhai City, south China's Guangdong Province on May 22, 2013, discharging many cloud-to-ground lightening strikes and triggering waterlogging in urban areas. ...
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China losing luster for Japan makers
With labour costs surging in China and domestic production recovering competitiveness thanks to the weaker yen, many Japanese manufacturers have been prompted to review their production in China. Japan Display Inc., the world's largest maker of small and midsize liquid crystal displays, reportedly plans to relocate part of its production in China to Japan. Other domestic manufacturing ...
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Suu Kyi tells China to deal with Thein Sein on dam issue
Myanmar's opposition leader Aung San Suu Kyi told China to deal directly with the government if they wish to resume the controversial Myitsone project. Suu Kyi, chairperson of the National League for Democracy (NLD) and Lower House MP, conveyed the message during a meeting with the media held in Parliament in Nay Pyi Taw yesterday. Eleven Media Group reporters asked Suu Kyi about her ...
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Special envoy from N. Korea arrives in China
China underlined its commitment to the denuclearisation of the Korean Peninsula as Beijing received one of Pyongyang's top military officials on Wednesday as a special envoy from top leader Kim Jong-un. Choe Ryong-hae, director of the General Political Bureau of the Korean People's Army and member of the Presidium of the Political Bureau of the Workers' Party of Korea Central ...
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METALS-Copper slides more than 2 pct as China factory data disappoints
* HSBC China flash PMI falls to 7-mth low of 49.6 * Worries of early end to bond buying also hurt sentiment * Coming Up; Euro zone Markit Manufacturing Flash PMI at 0758 GMT By Melanie Burton SINGAPORE, May 23 (Reuters) - London copper fell more than 2 percent on Thursday after a preliminary survey showed China's factory sector contracted in May, hitting sentiment already soured by concerns ...
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China eases forex rules in special economic zones
SHANGHAI (Reuters) - China's foreign exchange regulator said on Wednesday that it will simplify regulation of foreign currency transactions for companies operating in China's special economic zones, as Beijing moves to liberalise the yuan. ...
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Economic Report China manufacturing swings to contraction HSBC
LOS ANGELES (MarketWatch) -- China's manufacturing activity has swung to contraction in May after months of slowing growth, according to preliminary data released Thursday from HSBC, with the results slamming ...
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Chinas factory activity contracting HSBC data
LOS ANGELES (MarketWatch) -- China's manufacturing activity was contracting in May, according to preliminary data released Thursday, as HSBC's "flash" Purchasing Managers' Index fell to a seven-month low of 49.6 from April's final reading of 50.4. A result below 50 signals contraction. Both the new orders and new export orders sub-indexes registered decreases in the ...
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Fitch Publishes China Properties Groups IDR B-Stable
Fitch: Recession Concern Dampens European Investor Sentiment An increasing number of investors expect fundamental credit conditions will deteriorate across sectors, according to a Fitch Ratings investor survey. The more circumspect sentiment was most notable for the sovereign segment, where the proportion of survey respondents anticipating worsening conditions more than doubled to 55%, from 24% ...
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China may scrap floor for interest rates this year -media
BEIJING | Wed May 22, 2013 10:59pm EDT BEIJING May 23 (Reuters) - China may remove its floor for interest rates as early as this year or next year at the latest, Chinese media said on Thursday, an important step towards freeing the country's tightly-controlled interest rates market. Ba Shusong, a researcher at the Development Research Center, a think-tank whose recommendations to ...
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China manufacturing shrinks in May HSBC
MANUFACTURING activity in China contracted in May for the first time in seven months, HSBC says, in another sign of the weakness of recovery in the world's second-largest economy. The banking giant's preliminary purchasing managers' index (PMI) fell to 49.6 this month from a final 50.4 in April, putting it below the 50 mark that indicates contraction. A reading above signals ...
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US should act on China intellectual property theft
WASHINGTON (AFP) - The United States should consider curbs on Chinese investment or even offensive operations against hackers to address the growing toll from intellectual property theft, a report said.The 11-month study led by high-ranking former US officials said that theft of software and other US-developed products was costing the American economy more than $300 billion each year -- as much ...
Beijing Feature
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Massive Beijing Subway expansion plans
The Beijing Subway is one of the biggest, most efficient and most used subways in the world. It is constantly undergoing expansion and upgrades, and yet is unable to keep up with the growth of the capital city. With the recently announced plans for the expansion of the subway by over 60%, the city will certainly be hard-pushed to meet the massive task.
The Beijing Subway is one of the largest in the world. It carries over 5 million people every day, and hundreds of trains run on 228kms of track and service 147 stations. It is a feat of engineering, planning and coordination every single day. It is a network that Beijing commuters should be proud of, it represents the forward-thinking and development of the city. Read more
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