US chip giant Qualcomm Inc has set up an innovation center in Shenzhen, southern Guangdong province, in a move to deepen its business in the Chinese market by taking advantage of the country's innovation drive.
The second phase of experimental work on fifth generation (5G) mobile networks is expected to be finished by the end of 2017, said an official from the Ministry of Industry and Information Technology, the country's telecom regulator.
When Eric Jing visited Paytm (pronounced pay-tee-em) for the first time for a board meeting in New Delhi in the summer of 2015, text etched on one of the office walls of India's largest mobile payment service provider caught his eye. It was a grand goal that Paytm set for itself: 1 million transactions per day.
Zhang Lei, a veteran entrepreneur based in Beijing, has a burning ambition: to grow his startup YeeCall to be even more spectacular than WeChat, Tencent Holdings Ltd's instant messaging app that metamorphosed into an all-in-one killer e-tool for its more than 800 million users worldwide.
China's major home appliance manufacturers are expected to post double-digit growth in export volumes this year, driven by high-end smart products, company executives said.
Internet technologies will lead to new ways of making deals between overseas buyers and Chinese exporters at the Canton Fair, which has introduced an e-commerce platform to help boost trade, according to a company executive.
Editor's Note: The China Import and Export Fair, better known as the Canton Fair, is often seen as a barometer of China's foreign trade because a large number of exporters - big or small - display their products at the fair, looking for potential deals from global buyers. China Daily reporters talked to some exporters to see how they are fighting against the slowing global demand, and the organizers explained how they help exporters increase trade efficiency by introducing internet-enabled services.
Mattel Inc has set up a Play and Learning Center at Shenzhen Children's Hospital, the country's first in a hospital, as the US-based toymaker continues its efforts to promote the healthy development of Chinese children.
The export volumes of Zhejiang Huachen New Material Co Ltd, one of China's biggest curtain exporters by market share, will grow by 8 percent year-on-year to $13 million by the end of this year, thanks to its growing investment in the research and development of high value-added products.
China Minsheng Banking Corp is studying plans to set up an bad-loan asset management company, as the Chinese lender seeks ways to rid itself of some of its $5.7 billion of non-performing loans (NPLs), people with knowledge of the matter said.
China Construction Bank Corp said it has approached more than 50 companies that could convert debt to equity as part of the nation's efforts to tame an explosion in corporate leverage that poses risks for financial stability.
China Unicom Hong Kong Ltd said it expected to report on Friday an 80 percent slide in its profit for the nine months through September, due partly to higher selling and marketing expenses.
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Raymond Zhou
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Chen Weihua
