Better services, vision for future have helped in success of company
Ping An Life Insurance (Group) Co of China Ltd has acquired another landmark site in London, after it bought the Lloyds of London building a year and half ago, highlighting Chinese insurers' growing appetite for trophy real estate in international gateway cities after the sector was given freedom to invest overseas since 2012.
Li Kashing's Hutchison Whampoa Ltd started exclusive talks to buy O2, Telefonica SA's United Kingdombased wireless carrier, for as much as 10.25 billion pounds ($15 billion) in the biggest overseas purchase by the billionaire.
Galaxy Entertainment Group Ltd, the casino operator controlled by billionaire Lui Che Woo, plans to spend about HK$57 billion ($7.4 billion) more to expand in Macao and will recreate New York's Broadway theater to woo more visitors.
Lei Jie, chairman of China's Founder Securities Co and its joint venture with Credit Suisse Group AG, could not be contacted by Founder as the government questions executives at the company's parent.
ECB urges continued spending to achieve sustained adjustment in the rate of inflation
Crude oil imports surged to their highest level in December as China purchased record quantities from its trading partners, cashing in on the rapidly falling prices in the global market.
Corn imports by China, the world's second-biggest consumer, jumped in December as shipments from Ukraine surged from the previous month.
A gauge of manufacturing activity recovered lost ground in January, suggesting stimulus measures have helped stabilize the world's second-largest economy.
As the US Congress failed to incorporate the International Monetary Fund reform package of November 2010 into its budget legislation, the IMF quota and governance reforms are once again stalled.
In his State of the Union address delivered on Tuesday, US President Barack Obama said: "China wants to write the rules for the world's fastest-growing region. That would put our workers and businesses at a disadvantage. ... We should write those rules." Comments:
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