China is planning a pilot program to allow some commercial banks to set up equity investment arms to take direct stakes in technology companies, Reuters reported citing people familiar with the matter. The pilot program, which is to begin this year with the special approval by China’s State Council, will allow commercial banks, which are […]

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China released a new rule to relax housing mortgage down payment to help sustain the warm-up in property transactions and prices, but a nation-wide property market recovery will still be a long and strenuous process, says a research report by ANZ. The People’s Bank of China (PBoC) and China Banking Regulatory Commission (CBRC) jointly released […]

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Tencent Holdings Ltd. has agreed to invest RMB320 million (US$50 million) in the online education platform of New Oriental Education and Technology Group Inc. before the unit’s planned initial public offering, says a company announcement. An affiliate of Tencent has agreed to make the investment in Beijing New Oriental Xuncheng Network Technology Co., Ltd., which […]

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Didi Kuaidi will become the dominant global leader in ride sharing, the chief executive officer of China’s largest ride share company said over the weekend, signaling his ambition to beat U.S. rival Uber in markets outside of China. Cheng Wei, co-founder of Didi Kuaidi, said in a speech addressing staff at a year-end celebration event […]

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China’s official manufacturing purchasing managers index (PMI), the bellwether of large industrial firms, fell 0.3 percentage points to 49.4 in January, below market expectations and compared with 49.7 in December. This is the sixth consecutive month that the PMI stayed below 50, pointing to further contraction in the manufacturing sector. The official PMI’s output sub-index […]

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The Chinese government faces a tougher balancing act in 2016, as it cuts capacity and leverage while ensuring minimum growth of 6.5% to achieve a well-off society by 2020, says a new research report by Standard Chartered. The bank believes that the government is unlikely to tolerate a growth rate lower than 6.5% for the […]

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Smartphone shipments in China grew 3% annually to hit a record 438 million units in 2015. Xiaomi maintained first position and captured 15% smartphone market share in the country, according to the latest research from Strategy Analytics. “China smartphone shipments declined 4% annually from 123 million units in the fourth quarter 2014 to 117.9 million […]

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NASDAQ-listed Canadian Solar Inc. has entered into agreements to receive a financing package of up to US$70 million in loans and equity investment from the International Finance Corporation (IFC), says a company announcement. Canadian Solar, founded by Chinese entrepreneur Dr. Shawn Qu with most of its manufacturing facilities in China, will receive loans of up […]

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The United Arab Emirates (UAE) and Qatar are the most active Middle East countries using the RMB for direct payments with mainland China and Hong Kong, according to recent data released by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). In 2015, the UAE’s use of the RMB accounted for 74% of payments by value […]

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Elon Musk, chief executive officer of Tesla, revealed during an interview that he hopes to find a cooperating partner in mainland China in the middle of 2016 to establish an electric car factory for the……