China's Gini coefficient index declined for the fifth consecutive year in 2013 to reach 0.473, according to figures disclosed by the National Bureau of Statistics on Monday.
Although China has shown remarkable determination and skill in organizing and deploying resources to meet key objectives, there are still significant barriers that continue to limit its people's creative capacity. Critics of China's patent process point out that below-par standards, poorly designed incentives and a focus on quantity over quality have created a system in which "patents are easy to file, but gems are hard to find". Some of China's brightest minds, such as ex-Google China chief Lee Kai-Fu, note that China's educational system trains its students to be very good at rote learning but "doesn't make them creative, original thinkers". Others point out that Internet censorship and a lack of cultural diversity creates an overwhelmingly homogeneous environment that isn't conducive to creative thinking.
Rolls-Royce Ltd recently announced its highest-ever annual sales, reaching a level of 3,630 cars sold in 2013, its fourth consecutive record-breaking year. The epitome of luxury in the car industry, Rolls-Royce stands proudly at the top of the market for cars that cost more than $250,000.
Research commissioned by ABB Group, the power and automation technology company headquartered in Switzerland, confirms that energy efficiency remains a high priority for industrial executives.
ZTE Corp, China's second-largest telecom equipment maker, said it aims to sell more than 60 million smartphones this year and to become the world's third-largest smartphone vendor by 2016.
CNOOC Ltd, China's biggest offshore oil and gas developer, on Monday announced its 2014 business strategy, which includes producing 422 to 435 million barrels of oil equivalent.
French automaker PSA Peugeot Citroen received agreement at its board meeting on Sunday night in Paris that the struggling company will "in principle" accept capital investment from the French government and Chinese partner Dongfeng Motor Corp.
China Shipbuilding Industry Corp, one of the nation's two major shipbuilding conglomerates and the primary contractor for China's naval force, said it managed stable revenue growth in 2013 as it continued to pursue a larger share in both domestic and global markets of non-marine and offshore engineering products.
Chinese investors in Africa have become more aware of the need for sustainable development and a closer bilateral relationship that relies on efforts from both sides, a senior South African official says.
Twenty-two years ago when Xu Zhiming started a small workshop sewing clothes in Zhuji, Zhejiang province, he saw his future close to home.
As Wu Hailong, the Chinese ambassador to the European Union, was preparing to leave Brussels last week to start a new chapter of his diplomatic life in Geneva, the veteran diplomat says two recent developments had made him more confident about future relations between China and Europe.
As Nigeria's government prepares to implement the Petroleum Industry Bill that will provide "long-term" investment prospects, the country, which is Africa's largest oil producer, should look for more cooperation in the oil and gas industry with emerging markets such as China and India, says a senior government official.
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