Economy

Colored contacts in spotlight

Conspicuous Consumption

China's growing middle class may have different ideas on how to spend their new-found wealth, but they share a common pursuit: The good life.
Singapore PM says China's economic outlook optimistic

Singapore Prime Minister Lee Hsien Loong on Thursday expressed optimism towards China's economic outlook in the next few years at the Davos Annual Meeting.
Attack on RMB exchange rate 'unfair'

Renminbi exchange rate has probably caused the biggest misunderstanding between China and the world, a PBOC adviser said.

Car-rental firm wants to use IPO to expand

Local pension funds to tap financial sector

China's local governments could plough up to $57 billion into the domestic stock market under a proposal, which sources familiar with the matter said was with the country's cabinet, to allow them to allocate some of their pension funds into shares.
China may loosen capital requirements

China may relax capital requirements for banks to boost their lending capacity, Bloomberg reported Thursday, citing four unidentified industry insiders.
Private equity attracted to HK

"Private equity is an important component of Hong Kong's asset-management business. Our region has become a magnet for venture capital investment," said John Tsang, Financial Secretary of the Hong Kong government.

China Economy by Numbers '11

China's economy expanded by 9.2 percent in 2011 from a year earlier and the country's GDP reached 47.16 trillion yuan in 2011.

Medical exports likely to surge

The growth of imports and exports of Chinese-made medicines almost doubled the growth rate of the nation's total foreign trading volume as a whole during the first 11 months of last year.

China launches iron ore platform

China launched its first iron ore spot trading platform, a move meant to help the nation gain more influence in global pricing.

HP pledges to keep PC biz

US company wants to build up its software and server sector across China.

Lure of luxury product label

The Moutai Group is reportedly in discussion with the World Luxury Association for its application to the world's luxury product list.

iPhone: Please call again

RUF eyes 'top of the pyramid'

China Banking

China to regulate wealth management sector

The China Banking Regulatory Commission released guidelines on the sales of wealth management products by commercial banks.

AutoChina

New standards for C-NCAP announced

The new China-New Car Assessment Program management rules have been unveiled, sources reported on Oct 12.

Iran suspended a gas contract with CNPC

Suntech sees China gaining from falling solar prices

The preliminary HSBC Purchasing Managers' Index (PMI) was 48.8 in January, a third consecutive reading below 50, indicating a slowdown.

CIC buys stake in Thames Water

China Investment Corporation (CIC), the country's sovereign-wealth fund, said Friday that it has acquired a minority stake in Thames Water, a utility group in the United Kingdom.

Luxury looks to cash in on Dragon

The Dragon became a main design element in Western luxury brands at the start of 2012, as their wealthy Chinese customers prepare to celebrate the Year of the Dragon.

China sees 2nd month of net forex sales in Dec

Chinese banks sold more foreign currency than they bought from clients in December, reflecting that companies and individuals have become more willing to hold foreign currencies.

Industries

A life lived on the snowy slopes

The art of making money

Rapid changes in society, driven by a thriving economy, have fueled creativity and strong high-end demand.China is now home to almost half of the world's 100 top-earning contemporary artists.
Better-off Chinese travel abroad for festival

As millions rushed to board a homebound train before the Chinese Lunar New Year, a growing number of avid travelers decided to spend the most important holiday far away from home.
Reshuffle may lead to risks for lenders

A reshuffle of local leaders, which takes place every five years in China, is likely to subject the country's banking system to new risks, analysts warn.

China Southern to boost capacity by 10%

Hainan Airlines building 5-star hotel in Brussels

China's Hainan Airlines is starting to build a five-star hotel in this Belgian capital with a total investment of 50 million euros ($65.8 million).
HKIA reports new records for in 2011

The Hong Kong International Airport (HKIA) announced Wednesday that it welcomed 53.9 million passengers and handled 333,760 aircraft movements in 2011, up 5.9 percent and 8.9 percent respectively over 2010, a new record both for passenger trips and aircraft movements.
McDonald's raise prices as costs rise

McDonald's Corp has increased the prices of some of the items on its menus in China, as the country prepares for its annual travel peak as the Lunar New Year approaches.

Powering future development

At the just concluded fifth annual World Future Energy Summit in Abu Dhabi, Premier Wen Jiabao made a speech outlining China's efforts to adopt clean technology and renewable energy.
Subway clash reveals changing fortunes

A video clip showing a quarrel between several mainland tourists and local Hong Kong residents on a subway train in the special administrative region has unexpectedly become an Internet hit.
Push for common prosperity

The "Southern Tour Speeches" by former leader Deng Xiaoping 20 years ago marked a turning point in the history of China's reform and opening-up.

Beijing to release PM 2.5 data

Just before Spring Festival this year, the capital city will start releasing data about the amount of tiny particulate matter that is detected in the air.
Oil windfall tax threshold raised to $55

The levy will be set at a progressive rate between 20 and 40 percent on the excess of the average realized oil price from a base of $55 per barrel.
Guidelines welcome foreign money

China will encourage foreign companies to invest more in domestic industries to further make good on the country's commitment to open its economy.

EDUCATION

HOTELS

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Colored contacts in spotlight

China's growing middle class may have different ideas on how to spend their new-found wealth, but they share a common pursuit: The good life.

Singapore Prime Minister Lee Hsien Loong on Thursday expressed optimism towards China's economic outlook in the next few years at the Davos Annual Meeting.

Renminbi exchange rate has probably caused the biggest misunderstanding between China and the world, a PBOC adviser said.

Car-rental firm wants to use IPO to expand

China's local governments could plough up to $57 billion into the domestic stock market under a proposal, which sources familiar with the matter said was with the country's cabinet, to allow them to allocate some of their pension funds into shares.

China may relax capital requirements for banks to boost their lending capacity, Bloomberg reported Thursday, citing four unidentified industry insiders.

"Private equity is an important component of Hong Kong's asset-management business. Our region has become a magnet for venture capital investment," said John Tsang, Financial Secretary of the Hong Kong government.

Weekly Reports

The preliminary HSBC Purchasing Managers' Index (PMI) was 48.8 in January, a third consecutive reading below 50, indicating a slowdown.

A life lived on the snowy slopes

Rapid changes in society, driven by a thriving economy, have fueled creativity and strong high-end demand.China is now home to almost half of the world's 100 top-earning contemporary artists.

As millions rushed to board a homebound train before the Chinese Lunar New Year, a growing number of avid travelers decided to spend the most important holiday far away from home.

A reshuffle of local leaders, which takes place every five years in China, is likely to subject the country's banking system to new risks, analysts warn.

China Southern to boost capacity by 10%

China's Hainan Airlines is starting to build a five-star hotel in this Belgian capital with a total investment of 50 million euros ($65.8 million).

The Hong Kong International Airport (HKIA) announced Wednesday that it welcomed 53.9 million passengers and handled 333,760 aircraft movements in 2011, up 5.9 percent and 8.9 percent respectively over 2010, a new record both for passenger trips and aircraft movements.

McDonald's Corp has increased the prices of some of the items on its menus in China, as the country prepares for its annual travel peak as the Lunar New Year approaches.

At the just concluded fifth annual World Future Energy Summit in Abu Dhabi, Premier Wen Jiabao made a speech outlining China's efforts to adopt clean technology and renewable energy.

A video clip showing a quarrel between several mainland tourists and local Hong Kong residents on a subway train in the special administrative region has unexpectedly become an Internet hit.

The "Southern Tour Speeches" by former leader Deng Xiaoping 20 years ago marked a turning point in the history of China's reform and opening-up.

Just before Spring Festival this year, the capital city will start releasing data about the amount of tiny particulate matter that is detected in the air.

The levy will be set at a progressive rate between 20 and 40 percent on the excess of the average realized oil price from a base of $55 per barrel.

China will encourage foreign companies to invest more in domestic industries to further make good on the country's commitment to open its economy.

Green China

Business Focus