The country’s top price regulator recently announced cuts in the retail price of gasoline and diesel, in which some consider the largest drop as global crude oil prices stayed low. Gasoline prices dropped 220 yuan per metric ton and diesel dropped down by 215 per ton starting Friday. This will be the third consecutive decrease [...]
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Service Sector in China a Magnet for New Foreign Direct Investment
The fast growing service sector in China has become the magnet for overseas investors who are looking for new opportunities in the biggest emerging market. Around $50 billion in foreign direct investment have entered the sector during the first half of 2016, ro 8 percent more than compared to the same period in 2015 and [...]
Smartphone Sales to Fall in the Single Digit Zone for the First Time this Year
For the first time the annual growth of smartphone sales is estimated to fall into the single digit zone, a 7 percent on 1.5 billion units this year down half from the previous 14.4 percent in 2105 and compared to 2010 were sales growth rate was 73 percent. The projected single digit sales growth is [...]
China Music Offers Tencent Holdings Controlling Stake in their Company
Tencent Holdings agreed to acquire a controlling stake in China Music Corp. a deal that some say is valued ar $2.7 billion. The internet giant the boosts its stake in the country’s leading music streaming company that owns Kuwo and Kugou with 16 and 60 percent respectively. Tencent is China’s largest social networking and online [...]
Central Government Significantly Reduced Spending on Daily Operations
According to the National Audit Office that the central government is spending less on their daily operations for three straight years. Under the anti-corruption campaign that was launched a few years ago, resulted in reduced spending by government officials on overseas travel, use of official vehicles and entertaining guests also known as the three public [...]
Online Shoppers Buying British Products as Pound Dropped to a Three Decade Low
Chinese online shoppers are cashing in on the fall of the British pound and started to purchase expensive foreign luxury goods after UK voted to leave the European Union. The British pound dropped to a three decade low after the Britons voted last week to leave the European Union bloc, thus making the country’s good [...]
Chinese Premier Shows Optimism on Chinese Economy amid Pressure and Uncertainties
Premier Li Keqiang stated that he is optimistic about the Chinese economy even with the downward pressure and an increase in uncertainties of the global economy. He acknowledged that the Chinese economy faces an enormous downward pressure along with difficulties that should not be under estimated. And because of the severe and complicated international environment [...]
Chinese Consumers to Maintain or Increase Spending in 2016
Chinese consumers will continue and spend but only a bit slower this year due to a slowing economic growth and market volatility. Based on a research done by Boston Consulting Group, three quarters of Chinese consumers are planning to maintain or increase spending for 2016 a slight decrease for 81 percent in 2015. The two [...]
Stock Exchanges to Setup Time Limit for Listed Firms Trading Suspension
The two stock exchanges in China will be setting a upper time limit for listed firms trading suspension, a move which would bolster China’s onshore stock market to be included in the widely tracked global indices. Listed firms in the Shenzhen and Shanghai bourses that seeks to suspend trading over important asset reorganization that will [...]
China’s Purchasing Power Still an Influence in the Global Economy
Although the Chinese economic growth rate might have slowed down, but its influence on the global economy is set to keep expanding. China also added the equivalent of Turkey’s entire economy to the global GDP for 2015, and the country is responsible for 12 percent to the total world Gross Domestic Product. China is in [...]
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