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RMB presence in global foreign reserves continues to rise

In the second quarter of this year, the proportion of RMB assets held by central...

Tencent continues to invest in video sharing platform Bilibili

Chinese Internet giant Tencent is planning to increase its holdings in the young, emerging cultural...

Chongqing attracts international robotic elite

FANUC, a major Japanese provider of automation products, has officially kicked off the construction of...

Golden holiday mainlanders like Express Rail Link option

It is that time of year in Hong Kong, when mainland tourists flock to the...

Tourists spent US$15 billion on first day of National Day holiday

On October 1, the first day of China’s seven-day National Day holiday, the country received...

China’s overall tariff level cut from 9.8% to 7.5%

The Customs Tariff Commission of the State Council has issued an announcement to reduce import...

Banks rush to lower threshold of wealth management products

Banks are moving quickly to lower the investment threshold of publicly-funded wealth management products to...

Interest Rate Hike Could Hurt Millions of Debtors

Some 2.43 million people who have taken out high-interest loans from small savings banks or...

Beijing bans new residential projects, as well as hotels, office buildings

Beijing has prohibited real estate developers to launch any new residential projects in Dongcheng and...

Insurance asset management firms launch products exceeding US$32 bn

For the first eight months of this year, 23 insurance asset management companies registered 109...

Car Industry Jobs Dwindle

Jobs are declining in the Korean car industry as both exports and domestic sales dwindle.In...

Jack Ma to give up Alibaba’s VIE structure ownership

Jack Ma, chairman of Alibaba’s board of directors, has given up ownership of the company’s...

Shanghai to suspend microcredit lenders that target individuals

The Shanghai Financial Services Office has ordered microcredit lenders and financing guarantee companies to immediately...

Tencent restructures to focus on cloud, artificial intelligence

Tencent has made major adjustments to its internal structure, setting up two new departments including...

China’s oldest tech publication to accept Bitcoin payments

Beijing Sci-Tech Report (BSTR), China’s oldest tech publication, has announced that it is accepting Bitcoin...

Chinese millennials rule the global luxury market

China’s millennials are becoming the mainstay of global luxury consumption, according to a report jointly...