China's large State-owned banks aim to improve their corporate governance by diversifying ownership. The move, experts said, could have greater significance than the reforms and stock market listings of State-owned lenders at the beginning of the century.
Delta Air Lines Inc said on Monday it is acquiring a 3.55 percent stake in China Eastern Airlines Co Ltd for $450 million, as part of the efforts by the two carriers to further consolidate their relationship.
Sovereign fund China Investment Corp plans to buy Australia's biggest office block portfolio from Morgan Stanley for $1.82 billion, highlighting Beijing's appetite for stable assets offshore as the mainland economy sputters.
The Hurun Luxury Consumer Price Index, an annual study that gauges levels of top-end individual spending in China, has contracted for the first time in eight years.
Tmall Global, the cross-border e-commerce site of Alibaba Group Holding Ltd, has launched a new service to allow Chinese tourists to prepay for their duty-free purchases online before going on vacation.
Beijing will adopt a specific air quality control plan to temporarily close factories for the military parade celebrating the 70th anniversary of victory in World War II, which will have a positive effect on steel prices, mysteel.com said.
The New Development Bank is seeking a complementary and innovative approach from other international financial institutions.
Chinese companies have been urged to look at closer investment ties with Italian businesses. Italy is increasingly becoming a major investment destination for enterprises here. There are more than 60,000 Chinese firms with a presence in Italy, according to a report by PricewaterhouseCoopers, the multinational professional services network.
Cutting-edge technology is nothing new in China's industry. You can read every day about the spectacular advances being made by companies here. But Dawning Information, a supercomputer manufacturer, is slightly different because of its location.
China's Belt and Road Initiative envisages greater economic trade between China and Asia, Africa, Europe and the Middle East. It will also benefit firms in China's overcapacity industries, which will lead to diversification as well as encouraging greater globalization of the yuan.
In the bustling southeastern port city of Xiamen, a ship loaded with clothing and food from the mainland set off to Taiwan at 7 pm.
China (Shanghai) Pilot Free Trade Zone's pilot program on parallel imports of cars, which allows dealers to purchase cars directly from abroad, has evoked good response and is likely to be extended to more areas, officials said on Monday.
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Raymond Zhou
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Chen Weihua
