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May, 27, 2016

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China > Business
Tax fog boggles property developers
In late April, Greenland Group, one of the largest developers in China, forwarded its staff a plan, proposed by a consultancy, to cope with the new 11 percent value-added tax or VAT, which is higher than the 5 percent business tax.
 
LeEco 'to snap up prime real estate from Yahoo'
Tech giant Yahoo Inc has reached a deal to sell a 20-hectare undeveloped site in Santa Clara, California, near the heart of Silicon Valley and 6 kilometers from the company's Sunnyvale headquarters, to Chinese internet company LeEco Holdings Ltd, according to the Silicon Valley Business Journal.
 
Chinese outbound real estate investment continued to grow with the support of policies like the Belt and Road Initiative, reaching nearly $30 billion in 2015 and doubling that of 2014, a report by the global property consultancy Knight Frank said.
 
China's growing appetite for e-commerce and mobile payments is offering an expansion opportunity to Hongda Hi-tech Group Co Ltd, one of the largest domestic firms that develop biometric verification technologies.
 
Global smartphones see smallest growth in first quarter
The shipments of smartphones worldwide in the first quarter marked the smallest year-on-year growth on record, and Chinese smartphone makers Oppo Electronics Corp and Vivo Mobile Communication Technology Co Ltd pushed out previous fourth and fifth place players Lenovo Group Ltd and Xiaomi Corp, a report said.
 
Chinese Internet giant Baidu Inc announced its "DU+ Plan" of supporting domestic mobile Internet developers to make profits overseas, vowing to push Chinese developers to a higher level and expand overseas, said Hu Yong, general manager of Baidu's international product department on Tuesday in Beijing.
 
China Eastern Airlines to buy 35 planes from Airbus and Boeing
One of China's top airlines will split US$10 billion of new orders between European manufacturer Airbus and U.S.-based Boeing, it said, as competition heats up for aviation market share in the world's second-largest economy.
 
Three former executives of China's biggest brokerage and a well-known fund manager have been arrested for insider trading, state media said Friday, after months of investigation following a stock market slump.
 
PetroChina shares plunged on Friday, after the mainland Chinese energy giant posted its first quarterly loss since listing overseas 16 years ago, as it struggled with the weak domestic economy and lower international oil prices.
 
JD launches new platform to link suppliers with customers
Chinese e-commerce giant JD.com Inc unveiled its updated business strategies for domestic corporate procurement market on Tuesday, aimed at establishing an innovative platform that bridges customers and products suppliers.
 
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