CARS, China's largest online used-car dealer, will build more brick-and-mortar stores to attract consumers, after the company raised $818 million in its latest round of financing led by Tencent Holdings Ltd, said Yang Haoyong, CEO of CARS.
Chinese companies can leverage their expertise in merging online and offline commerce to prompt cross-border trade in economies related to the Belt and Road Initiative, according to industry experts.
China's financial sector will play an important role in changing the world economy in the coming decades, when financial resources could be allocated worldwide more efficiently through supportive opening-up measures, a senior official of the nation's securities watchdog said on Tuesday in Boao, Hainan province.
Officials and business leaders at the Boao Forum for Asia on Tuesday called for enhanced efforts from the private sector to partnering with governments to achieve more sustainable development.
China's plan to ease restrictions on stakes foreign carmakers can own in joint ventures with local partners and reduce automobile import tariffs will encourage competition in the domestic market and benefit consumers, experts said.
Domestic demand is playing an increasingly important role in boosting China's economic growth, as the country continuously pushes forward its supply-side structural reform and innovation-driven development strategy, the National Bureau of Statistics said on Tuesday.
Prudential Plc, Britain's largest insurer, plans to increase investment in China to boost its product coverage and sales distribution in the country and the company is interested in increasing the stake holding in its local joint ventures, according to a senior executive of the insurer.
UBS aims to help Chinese investors and lenders diversify their asset allocation portfolio, says group CEO
China's technology, media and telecommunications (TMT) sectors saw 49 initial public offerings in the second half of 2017, garnering a total of 50.2 billion yuan ($8 billion), according to global accounting firm PwC.
A total of 800 buses started their engines in Hefei, Anhui province, on Tuesday morning, readying for export to Saudi Arabia.
In a bid to reinvigorate its manufacturing sector, the Shanghai municipal government announced an action plan on Tuesday to transform and upgrade its physical economy for quality development in the coming three years.
Sino-US trade conflicts will never constrain China's efforts to push forward economic structural reforms, economists said on Monday at the Boao Forum for Asia in Hainan province.
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