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July, 30, 2016

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China > Business
Lenovo supports employee start-ups
Lenovo Group Ltd, the world's largest personal computer maker, is encouraging employees to start up businesses through its "Dream Lab", an internal innovation and entrepreneurship platform.
 
Shares in struggling West China Cement plunged more than 30 percent Monday after a much-needed merger deal with the country's largest cement-maker collapsed last week.
 
China manufacturing drops  sharply 4th straight month
Activity in Chinese factories suffered its sharpest deterioration for four months in June, figures showed Friday, as weak demand and industrial overcapacity weighed on the world's second-largest economy.
 
The cost of Chinese new homes rose at a slower rate in June from the previous month, figures showed Friday, as measures to tame prices in the world's second-largest economy took hold.
 
A deal for mainland China's largest cement maker to take over a major rival collapsed after failing to gain official approval, the company said Friday, in a blow to Beijing's pledges to tackle oversupply.
 
SOE reforms to speed up, target five sectors
China has been mulling over new measures to smooth the ongoing reforms to combine more State-owned enterprises (SOEs), as part of a sweeping plan to cut overcapacity and improve efficiency in the lumbering state giants, the China Securities Journal reported on Thursday.
 
China plans to invest more than 2.8 trillion yuan ($421.68 billion) into railway construction, building no less than 23,000 kilometers of new rail lines during the 13th five-year plan period (2016-2020), the Economic Information Daily reports.
 
China CITIC Bank Corp Ltd and Uber Technologies Inc announced the launch of a co-branded credit card on Wednesday, taking the first step toward a strategic partnership globally.
 
China Mobile says its internet-of-things sales to hit $15b
China Mobile Communications Corp, the world's largest telecom carrier by subscribers, aims to grow its internet-of-things revenue to 100 billion yuan ($15 billion) by 2020, as technological advances make it possible to put home appliances, vehicles, shoes and other items online, a company executive said.
 
IoT to reform service sector: ZTE
"Internet of Things" will not only trigger the fourth industry revolution, but also drive the future improvement of the agriculture and service sectors.
 
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