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May, 4, 2016

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China > Business
Mainland China looks to rice cookers to pep up economy
The mainland China authorities' latest plan to perk up its slowing economy is based on the humble rice cooker and luxury toilet seats.
 
Beijing show showcases China's SUV love affair
China's love affair with SUVs is helping to cushion the blow of an unexpectedly painful slump in the rest of its crowded auto market.
 
Internet star's first ad auction drew $3.4 million bid
The first advertisement by a top Chinese internet celebrity was put under hammer on Thursday, with a top bidder offering to pay a record high 22 million yuan($3.4 million)for for advertising in one online video clip.
 
Business jets market projected to become multi-billion sector
China will likely see a demand of 2,300 business jets over the next five years, sending the market scale to $103.5 billion, said Minsheng Financial Leasing and Hurun Research Institute in a joint report.
 
Shipping alliance aims to challenge market leader
China COSCO Shipping Corp Ltd and three partners, including France's CMA CGM SA, on Wednesday
 
The country will provide more financing support and other favorable policies to export enterprises to boost foreign trade amid sluggish global demand.
 
The founder of China's internet giant Tencent will donate US$2 billion in shares to charity, the company said -- one of the largest gifts ever given in a country whose new super-rich have no tradition of philanthropy.
 
Chinese electric car maker makes headway in US market by selling buses
The Chinese automaker that sold more electric cars last year than Tesla, Nissan or GM is taking a back road into the American market on a battery-powered bus.
 
Stocks tumbled the most in two months on Wednesday, with the benchmark Shanghai index plunging by 2.3 percent, falling below the 3,000 level. The Shanghai Composite Index fell as much as 4.5 percent before closing at 2,972.58, down 70.24 points, while the Shenzhen Component Index sank 4.1 percent to 10,164.74.
 
China sovereign fund seeks control of Yum China
A consortium backed by sovereign fund China Investment Corp has expressed interest in buying a majority stake in Yum Brands Inc's China business, which runs more than 7,100 KFC and Pizza Hut eateries across the country, Bloomberg reported on Tuesday.
 
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