As the government austerity drive takes a bite out of sales in China, companies are tweaking their image, report Xie Yu in Shanghai and Wang Zhuoqiong in Beijing
Without a penny spent on advertising, Duolingo, a United States-based language-learning application, has become the largest online educational app on iPhone's iOS system and Google Play, gaining 30 million users in the two years since it was launched.
There's heated debate in China about whether the government will cut banks' required reserve ratio, which has been steady for 22 months.
The government will release a detailed list of administrative fees for micro-sized and small enterprises as it seeks to alleviate the financial burdens of a group of companies that are a source of economic dynamism, an official said on Tuesday.
The State Grid Corp of China, the nation's largest utility by sales, said on Tuesday it plans to seek private capital investment to establish a distributed power network and charging stations for electric vehicles. It's a step toward mixed ownership in State-monopolized industries.
China UnionPay Co Ltd, a bankcard association, will spend 200 million yuan ($32.02 million) to promote its payment functions and services to cardholders, the company said on Tuesday.
The most affluent Chinese are more likely to care about "spiritual rewards" now that they are no longer worried about money, according to the China Spiritual Investments White Paper 2014 co-released by Industrial Bank Co Ltd and the Hurun Report on Tuesday.
When a dispute over the East China Sea flared up between China and Japan two years ago, graduate student Wei Hanyu ditched her Shiseido Co Ltd beauty products in protest, joining scores of Chinese consumers in a boycott of Japanese brands.
Brokerages on the Chinese mainland and in Hong Kong are preparing the staff and technology needed to launch a pilot cross-border stock trading program, but industry insiders said it's premature to predict the impact on either market until more policy details are announced.
The Frankfurt branch of Bank of China Ltd is hiring around 20 employees and increasing its equity by 1 billion yuan ($160 million) to become the first bank in the 18-nation euro area to clear payments in the Chinese currency.
Cultural performance investment in Chinese tourist destinations has become popular among private investors, financial experts say.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
