GUANGZHOU - China is an important innovation base for the Emerson Electric Co and Edward L. Monser, president of the Fortune 500 corporation.
ZhongAn Online Property and Casualty Insurance Co Ltd saw its share price surge 15.6 percent to open at HK$69($8.83) on its first day of trading.
Mainland's State-owned insurer and financial conglomerate PICC Group's application for a public offering on the A-share market has been approved by the authorities. Any such offering, if successful, would enable the company raise more than 12 billion yuan ($1.8 billion).
Dalian Wanda Group Co's biggest unit had its credit rating cut to junk by S&P Global Ratings, raising the risk of higher borrowing costs overseas just as the Chinese conglomerate grapples with greater regulatory scrutiny.
Chinese monetary policy may remain relatively tight in the near future, as cutting the debt ratio will remain one of policymakers' priorities aimed at controlling financial risks, a leading economist said on Wednesday.
MUNICH/PARIS - Siemens AG and Alstom SA have agreed to merge their rail businesses in a deal that brings together former archrivals from Germany and France to create a European transportation giant aimed at countering competition from outside.
BTC China, one of China's largest online cryptocurrency trading platforms, ended its top-up business at noon on Wednesday, and said it would cease all transactions from noon on Saturday.
Two subsidiaries of China State Shipbuilding Corp, the primary contractor for China's naval force, halted stock trading on the Shanghai Stock Exchange on Wednesday as their parent company prepares a major asset reorganization, the group said on its website.
E-commerce behemoth Alibaba Group's founder Jack Ma, who pledged on at least two occasions that the company would never enter the gaming industry, seems to have changed his mind.
China's listed banks entered a period of stability with steady growth and lower non-performing loan ratios and overdue loan ratios in the first half of the year, but pressure for competition may mount and lenders need to increase their pricing and cost control abilities, according to a report.
The Asian Development Bank (ADB) on Tuesday raised China's growth forecast for 2017 and 2018, supported by the strong service sector, fiscal expansion and export recovery.
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Raymond Zhou
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