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August, 29, 2016

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China
Claiming to be the world's largest building by floor space, the 1,760,000 square meters of the New Century Global Center are a monument to growing Chinese consumer power, packed with shoppers -- and beach bathers a thousand kilometers from the coast.
 
Shanghai land sold at highest price on record
A land parcel in central Shanghai sold at a record-breaking price of 11.01 billion yuan ($1.66 billion) on Wednesday.
 
China is likely to surpass Japan as the world's second largest insurance market this year, boosted by the surging demand from the ever-growing middle class, the industry regulator said on Thursday.
 
China's outbound tourism spending tops $226b, half on shopping
Chinese outbound consumption reached 1.5 trillion yuan ($226.15 billion) in 2015, of which about half was spent on shopping, according to the Ministry of Commerce.
 
India's Hike wins Tencent backing for $1.4b valuation
Hike Messenger became India's newest internet unicorn after securing a round of funding at a valuation of almost $1.4 billion from investors including Tencent Holdings Ltd and Foxconn Technology Group.
 
EV talent commands respect, big salaries
China's biggest iPhone maker, largest e-commerce company and leading internet-video producer are all in the hunt to build electric vehicles or EVs-and to grab the small pool of available talent to build them.
 
Myanmar's Aung San Suu Kyi was to meet mainland Chinese executive chief Li Keqiang on Thursday in her first major foreign trip since becoming the country's de facto leader, with a suspended Beijing-backed dam project set to dominate talks.
 
Casino mogul to launch lavish new US$4.2 bil. Macau resort
From a pair of giant golden dragons encircling a vast man-made lagoon to phoenix and cloud motifs inside, Steve Wynn's Macau resort brims with auspicious Chinese symbolism.
 
Chinese manufacturers bet on industrial robots
China's demand for European-made industrial robots is growing rapidly, as labor shortages, rising wages and culture changes push more Chinese businesses to automation, the Wall Street Journal reports.
 
Fueled by the government's strong emphasis on an innovation-driven economy, China for the first time joined the world's top 25 most-innovative economies, said a report released on Monday by Cornell University, INSEAD and the World Intellectual Property Organization.
 
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