Medium- and high-end department store operator Parkson Retail Group Ltd has temporarily closed one of its Beijing stores following two closures elsewhere in the country, adding to a chorus of doubts being voiced about the challenged retail format.
An increasing number of affluent consumers from China are buying property in the United States and helping prop up prices there, Bloomberg reports
Demand for high-end residential property continues to be robust in Beijing, with prices still high, said a report released on Wednesday, even as a land auction in Shanghai set a record.
Bank of China Ltd has denied media reports alleging it violated the nation's capital controls by providing services that help clients convert unlimited amounts of yuan into other currencies and transfer those funds abroad.
Survey finds Chinese currency can be handy for cross-border transactions
Tianjin will launch a pilot program for companies and individuals in the Sino-Singapore Tianjin Eco-city to conduct cross-border yuan transactions with Singapore, Tianjin Vice-Mayor Zong Guoying told a news conference on Wednesday.
State-level support to companies involved in the Internet of Things will give a boost to a market that's already worth hundreds of billions of yuan annually, industry insiders said as they urged the government to draw up national standards for the IoT.
The government will offer subsidies to producers of rare earths to encourage them to improve their technology levels and use environmentally friendly means of extraction, a notice said on Wednesday.
Erick Guo left Asia's largest Internet company last year to build a team of artists and engineers who could create smartphone applications inspired by Japanese comics. The 25-year-old and his team ended up with China's hottest app last month and are working on their next hit.
China's biomass companies are on the fast track after government policymakers approved heightened investment in clean energy technology.
Advanced and environmentally friendly processing technology is the star of the show at China's largest annual aluminum industry exhibition, a three-day event that opened on Wednesday.
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