Baidu Inc is planning to sell its loss-making food delivery unit, Baidu Waimai, at a discounted price to a competitor backed by Alibaba Group Holding Ltd, a person familiar with the matter said.
BEIJING - China, which boasts epochal inventions in ancient times, has once again demonstrated its ability to change the world with its "new four great inventions": high-speed railways, electronic payments, shared bicycles and online shopping.
NANJING - After walking out of his spacious villa, Mei Zhenhua drives his Audi 6 to the rice farm in Huaxi village, known as China's wealthiest village.
CHANGSHA - A tour bus travels along a winding road on the outskirts of Moscow. Onboard, a posse of Chinese tourists, all in their 50s and 60s, sing along to Moscow Nights, a tune produced during the former Soviet Union. The air is thick with nostalgia.
A rise in IPOs, expectations of stricter policy and high PE ratio are likely to hurt stocks of small technology companies as both retail and institutional investors in the equity market are increasingly favoring shares in commodity companies.
The Chinese financial market size will match that of the United States in 2025, according to a Citigroup Inc report.
It was the longest day of the year, and the sun would finally disappear below the horizon only after 9.30 pm.
For several decades people who live along the Hexi Corridor in northern China have fought to halt the desert as it spreads, and they have notched up significant victories.
Chinese banks will no longer be the financial source for domestic companies to buy sports clubs, hotels, entertainment and real estate businesses abroad - as the country reforms its outbound direct investment policy to ward off risks - according to analysts.
Analysts from a leading Chinese think tank said they were optimistic about the prospects for China-US trade and investment, calling for a restart to negotiations on a bilateral investment treaty and for the promotion of cooperation in fields such as services trade and energy.
WASHINGTON - US-China economic relations will be more balanced and mutually beneficial as long as both sides intend to create a win-win solution, Dominic Ng, chairman and CEO of East West Bank, told Xinhua in a recent interview.
Analysts believe the outstanding performance of China National Petroleum Corporation, the nation's largest oil producer and supplier, is expected to continue in the next six months, after its net profit soared 16 times higher than expected during the first half of 2017.
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Raymond Zhou
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