China's oil and gas majors saw their profits slump during the first six months of the year, with the levels falling to the lowest in five years, according to financial reports.
China Ocean Shipping (Group) Co remained profitable during the first six months of this year, with net profit attributable to the shareholders reaching 1.897 billion yuan ($296 million), a 183.31 percent increase over the corresponding period a year earlier, according to interim results released by China's largest liner on Friday.
Tianjin's 150-year-old food brand Goubuli is seeking a more vibrant future in the capital market to finance its expansion plans.
Uber Technologies Inc's China arm has closed its $1 billion fundraising round early, according to two people with knowledge of the matter, with investors still hopeful for the United States-based ride service despite strong domestic competition.
State-owned bad debt management firm China Huarong Asset Management Co Ltd has won approval from Hong Kong's stock exchange for its initial public offering, expected to raise as much as $3 billion, a person with direct knowledge of the plans said.
The first two Chinese banking giants to report earnings this week have two things in common: Zero profit growth and bad loans piling up at more than twice the pace of a year earlier.
US National Security Advisor Susan Rice is in town on Friday to discuss the preparation work for Chinese President Xi Jinping's trip to the United States next month. Both Beijing and Washington have attached great importance to Xi's upcoming visit, which is sure to lay an indelible mark on Sino-US relations.
According to the annual accounts for the 2014 fiscal year of 76 major domestic universities, the spending of Tsinghua, Zhejiang, Peking and Shanghai Jiao Tong universities exceeded 10 billion yuan ($1.56 billion) each. Tsinghua University's spending reached 17.56 billion yuan ($2.77 billion).
CHUZHOU COMMODITY PRICE BUREAU in Hunan province, Central China, posted a notice in a local newspaper on Aug 20 announcing that its vice-director has been missing since July 27.
THE SPECIFIC AMOUNT corrupt officials embezzled or received as bribes may no longer be mentioned in their sentence, says the draft of the ninth amendment to the Criminal Law.
AS THE MID-AUTUMN Festival approaches, sales of highly priced moon cakes are appearing in online stores instead of traditional shops and markets. Comments:
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Raymond Zhou
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