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March 23, 2017

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China > Business
Sinopec to harvest more heat from earth
State-owned Sinopec Group's interest in geothermal energy has grown as it seeks to diversify beyond oil and gas production.
 
Payments made on Chinese smartphones are nearly 50 times greater than the number of mobile transactions in the United States, signaling a late-mover advantage with robust potential for the fintech sector, the Financial Times reported on Tuesday.
 
Tighter property loans squeeze homebuyers
Homebuyers face more pressure getting financing after mortgage lending has tightened in several major cities, in a series of measures curbing speculative buying and cooling down the overheated property market, said analysts.
 
Retailers cash in on festival of love
Whether you've just fallen in love or have been in a relationship for years, getting a decent present online for the Valentine's Day has become a new norm to celebrate the holiday of love.
 
High-end hotels recorded a surge in the sales of their rooms with the approach of Valentine's Day, but demand for budget hotels has cooled down as young Chinese prefer to spend more.
 
Alibaba Cloud (AliCloud), the cloud-computing arm of Alibaba Group Holding Ltd, said on Monday it would double the capacity of its data center in Hong Kong, as it upped the ante with rivals Amazon.com Inc and Microsoft Corp in the fast-growing cloud-computing market.
 
China increased its steelmaking capacity last year by more than twice Britain's annual output, a report said Monday, despite repeated pledges to cut huge excess in the sector.
 
Chinese exports surged more than forecast in January, data showed Friday, in a fresh sign of improvement in the world's number two economy as leaders prepare for possible trade stand-offs with U.S. President Donald Trump.
 
Bike-share startup seeks permits
Chinese bike-share startup Bluegogo, which had planned to fill San Francisco's public bike racks with rental bicycles, is seeking permits after drawing backlash from city leaders.
 
Germany's SAP sees opportunities for SME business
German software company SAP SE will focus on small and medium-sized clients to grow its cloud business in China this year, after it posted its best-ever financial year in the region in 2016.
 
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