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December, 5, 2016

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China > Business
Both authorities and consumers have every expectation that this year's Singles Day shopping carnival will bring in real discounts and benefits, thanks to new measures.
 
Former China boomtown becomes poster child for economic transition
Many municipalities in China are facing the double struggle of curbing coal output and filling the economic void left by closed mines.
 
Coal mines, utilities ink long-term price deal
China's major coal producers and power groups have signed a long-term deal at a fixed price to ensure stable coal and power supplies in the country, in a bid to hammer out a strategy to halt the persistent rise in coal prices, said the nation's top economic regulator on Wednesday.
 
Tencent Holdings Ltd's main movie arm plans to spend at least 2 billion yuan ($295 million) investing in Hollywood and Chinese films in the two years through 2017 to expand its presence in global entertainment production, according to people familiar with the matter.
 
Singles Day expected to be 'bigger than ever'
Singles Day sales are set to get crazier this year, with transactions and deliveries expected to break records amid public concerns about quality.
 
Companies set up robotic package sorting lines
In order to deliver the more than 1 billion packages from merchants to buyers during the Singles Day shopping frenzy, the nation's major couriers have launched auto-sorting systems to enhance their efficiency and accuracy.
 
Couriers follow path to intelligent deliveries
China's consumers and couriers are set to benefit from enhanced efficiency and accuracy of deliveries during the Singles Day sales period, with more than 70 percent of the orders expected to be processed through big data intelligent solutions.
 
US vote not expected to affect yuan in big way
The yuan dropped for the third straight day on Tuesday as the US dollar strengthened amid the ongoing US presidential election, but analysts said the election results will not have a major or sustained impact on the yuan's exchange rate.
 
China's Baosteel Group will have dual headquarters following its merger with smaller rival Wuhan Iron and Steel (Group) Corp, according to Shanghai-based newspaper The Paper.
 
Foreign trade falls 0.6% in October
As both exports and imports failed to meet early forecasts, China foreign trade decreased to 2.05 trillion yuan ($307.2 billion) in October, down 0.6 percent from the same period last year, Customs data showed on Tuesday.
 
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