China’s GDP grew 6.3 percent, economy stable
Shanghai – Chinese Premier Li Keqiang said it is “very difficult” for China’s economy to grow at a rate of 6% or more because of the high base from which it was starting and the complicated international backdrop. The world’s … Continue reading China’s GDP grew 6.3 percent, economy stable
China cuts banks’ reserve ratios as economy slows
Beijing – China’s central bank said on Friday it was cutting the amount of cash that banks must hold as reserves for the third time this year, releasing 900 billion yuan ($126.35 billion) in liquidity to shore up the flagging … Continue reading China cuts banks’ reserve ratios as economy slows
Hong Kong facing worst crisis since 1997 handover
Shanghai – Senior Chinese diplomat Wang Yi told a Hong Kong business delegation that more support should be given to the city’s government to end violence that has evolved into the biggest crisis it has faced since the return to … Continue reading Hong Kong facing worst crisis since 1997 handover
IAA 2019: First presentation of BYTON M-Byte
Munich – BYTON, the premium brand for smart electric vehicles, will continue its tradition of major announcements at the IAA Frankfurt with the first look at its M-Byte SUV. Two years ago, the BYTON founding team announced the brand’s foundation during … Continue reading IAA 2019: First presentation of BYTON M-Byte
E-Commerce: Chinese to spend a record US$1 trillion
Beijing – The Chinese tech titan’s shoppers are on course to spend a record US$1 trillion this year, according to a new study from Emarketer, and they’re expected to spend even more in the next couple of years. But as … Continue reading E-Commerce: Chinese to spend a record US$1 trillion
Trump compares Fed chief with ‘enemy’ China
Washington – President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell linked the trade war with China to risks to the U.S. economy, asking whether the man he handpicked to run the U.S. central bank was … Continue reading Trump compares Fed chief with ‘enemy’ China
China Unicom: Cheapest 5G data package in the world
Beijing – China Unicom has introduced its first 5G data package. It will cost a minimum of 190 yuan ($ 28.3). Wang Xiaochu, chairman of China Unicom, revealed this low cost 5G package to the public. Although China Mobile and … Continue reading China Unicom: Cheapest 5G data package in the world
U.S. grants Huawei another 90 days to buy American
Washington – The United States will extend a reprieve that permits China’s Huawei Technologies to buy components from U.S. companies to supply existing customers, the Commerce Department said on Monday, but it also moved to add more than 40 of … Continue reading U.S. grants Huawei another 90 days to buy American
China’s Luckin Coffee looks to break even
Beijing – Luckin Coffee (LK.O) turned in a bigger-than-expected loss as costs ballooned on store openings and heavy discounts aimed at competing with Starbucks (SBUX.O), driving the Chinese firm’s U.S.-listed stock down sharply on Wednesday. The startup, which opened its … Continue reading China’s Luckin Coffee looks to break even
Holinier: The future of Chinese food retailers
Ludovic Holinier, executive chairman of Auchan Retail China, reflects on his two-year stint as CEO of China’s largest hypermarket chain and shares his views on what lies ahead for food retailers. Since joining the French retail group Auchan in 1991, Ludovic … Continue reading Holinier: The future of Chinese food retailers