The central government is planning to set up a special fund of up to 100 billion yuan ($15.19 billion) to accelerate mixed-ownership reform by the first half of next year, China Securities Journal reported on Thursday.
Zhima Credit, the online credit scoring service of e-commerce giant Alibaba, said on Wednesday that it would invest 1 billion yuan ($151 million) to eliminate security deposits in the sharing economy.
United Overseas Bank (China) Ltd, a wholly owned subsidiary of Singapore-based UOB, opened a branch in Kunming, Yunnan province, on Thursday in an effort to help Chinese companies expanding into Southeast Asia.
The Canadian province of British Columbia made its second yuan-denominated bond issue of 1 billion yuan ($151 million) in the Chinese market on Wednesday, supporting the development of the domestic interbank market while anticipating a further opening of the financial sector.
China's soon-to-be launched national emissions trading system will help the country achieve its carbon emission goals earlier than 2030, but it may take some time for the system to become "fully functional".
JINAN - Textile companies have long been dependent on crude oil when making common synthetic materials such as nylon or polyester but that could soon change, with companies turning to biomass fibers. Hismer Bio-Tech Co Ltd, based in Ningyang county, Tai'an in East China's Shandong province, is making biomass fiber from a very unusual source: shrimp and crab shells.
China conducted the nation's first cross-ocean flight powered by green aviation fuel on Tuesday, carrying 186 passengers and 15 crew members. The successful flight signals another significant breakthrough for domestic biofuel.
Shares of online micro-loan lenders plunged on Wednesday after the People's Bank of China decided on Tuesday to stop issuing licences for new online micro-loan lending services.
Five second-tier cities - Chengdu, Suzhou, Nanjing, Wuhan and Xi'an - are representative on the Chinese mainland in terms of their rapidly growing skills base in the digital economy, according to a report released on Wednesday.
Scalpers who expected to rake in huge profits from the sale of Apple's iPhone X may think twice as prices of Huawei Technologies new ultrahigh-end smartphone soared to dizzying heights as of Wednesday and made it one of the most expensive models on sale in the country.
Jinri Toutiao, China's top news aggregator app, has pledged to pull in more cash incentives and traffic dividends to reward content curators as it banks on algorithms to shake up the traditional media industry.
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Raymond Zhou
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