Efforts to cut excess capacity and upgrade the sector are creating new problems as well as opportunities
Local governments in China should strike the right balance between economic growth and reforms. Else, development would be slow and lack balance, preventing the nation from meeting its capacity reduction targets, economists and analysts have warned.
China Railway No 10 Engineering Group Co Ltd, a subsidiary of China Railway Engineering Corporation, is in talks with Brazilian clients to build two big-ticket railway-related infrastructure projects with a total contract value of $2.6 billion, its executives said.
Consumers flocked to a duty free shop which opened in downtown Shanghai on Monday, although its prices were higher than airport duty free shops.
Terrorist attacks are taking their toll on France's tourism industry, with Paris bearing the brunt of a drop in visits by holidaymakers from outside Europe.
Alibaba Group Holding Ltd said it is developing virtual-reality-enabled mobile payment technology - as the e-commerce giant bets big on VR-driven shopping for future growth and is wrestling with arch rival Tencent Holdings Ltd for supremacy in the booming digital payment market.
Chinese consumers are embracing cash-free lifestyles as an increasing number of people use digital mobile payment tools to order food, call taxis, buy clothing and pay utilities, a new report said.
When it comes to China's multibillion dollar fast food industry, Yum Brands Inc and McDonald's Corp are living large, enjoying a combined 38 percent share of the market in 2015.
The Chinese middle class is upgrading to products in the "affordable premium" segment, accounting for the popularity of chains like Starbucks, which is opening up about 500 stores a year in the country.
Limited domestic output and rising per-capita incomes are pushing beef-hungry China to import the high-protein, low-fat meat in increasing quantities from Brazil.
Despite declines in China's exports to Brazil, its imports from the South American country have accelerated this year, with the growth rate reaching 17.3 percent year-on-year during the first five months, the Ministry of Commerce said last week. During the past two years, Brazil has become the largest source of China's imports of poultry and beef, said Shen Danyang, spokesperson for the ministry.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
