Blockchain technology will be used in China's social security system because it can facilitate trade and lower transactions costs, according to Wang Zhongmin, vice-chairman of the National Council for Social Security Fund. "There's no doubt that blockchain technology will be used in the social security system because of its valuable applications in the investment and management of social security funds," he said.
China will probably surpass Japan as the world's second-largest insurance market this year thanks to the demand of the country's fast-growing middle class for insurance coverage, according to industry regulators.
Petrochemical producer Saudi Basic Industries Corp said on Friday that it will probably invest about $3 billion-$4 billion in a coal-based complex jointly with Shenhua Ningxia Coal Industry Group, because it was diversifying its feedstock supply options.
Chinese e-commerce platforms are speeding up their investment in the smart logistics field, developing driverless delivery vehicles and robots to promote logistical efficiency.
Samsung will issue a global recall of the Galaxy Note 7 smartphone as soon as this weekend after its investigation on explosion claims found batteries were at fault, according to South Korea's Yonhap News.
Comprehensive guidelines are to be issued by China's State Council to ensure healthier and more sustainable development of venture capital.
Even a pig can fly if it is in the middle of a whirlwind. When it comes to companies, in a financial whirlwind a good company can really take off - and a great company can soar.
Yum! Brands Inc, which operates KFC and Pizza Hut, said it will sell a combined $460 million stake in its Chinese business to Primavera Capital Group and an Alibaba Group Holding Ltd affiliate, Ant Financial Services Group.
Share prices of A-share listed companies which are suppliers to facilities and utilities serving the G20 summit in Hangzhou fluctuated over the past week amid short-term speculation and profit-taking, but analysts said on Friday they were bullish in the long run for the companies, given an expected improvement in their business environments.
China will facilitate the entry of small and medium-sized enterprises into the global value chain through new measures including policy support, innovation promotion, interconnected infrastructure facilities and inclusive trading platforms after the G20 Summit in Hangzhou, the Ministry of Commerce said on Friday.
China supports Jim Yong Kim's second-term as the World Bank President, China's vice finance minister said on Friday.
JD.com, China's second-largest B2C online platform by market share, said it plans to become the top online supermarket platform in terms of sales revenue, market share and consumer satisfaction within three years.
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