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January, 20, 2017

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China > Business
Six former employees of Huawei Technologies Co Ltd, the world's third-largest smartphone maker, have been arrested by police, for allegedly leaking commercial secrets to rivals.
 
In the coming Year of the Rooster, Hong Kong's Hang Seng Index is destined for a flat start, before tracking upward to peak around July and August-and finally ending on a positive note amid year-end volatility.
 
Demand for IT professionals remains buoyant and competition among employers to recruit the experienced-particularly those with internet, digital, e-commerce and online marketing operation skills-is intense, the latest Robert Walters survey found.
 
House market cooling in big cities
Prices of new homes in most of China's first-tier cities declined in December, showing that policies to moderate housing prices tailored to local conditions have been effective, said the National Bureau of Statistics.
 
Chinese pens reach tipping point
Shanxi-based Taiyuan Iron & SteelCo Ltd, or Tisco, one of China's major stainless steel producers, has independently developed the special steel needed to make the feedstock for ballpoint pens tips.
 
ICBC to continue its debt-for-equity swaps
Industrial and Commercial Bank of China Ltd, China's largest State-owned commercial bank, will continue to push the debt-for-equity swap program this year, a senior executive of the bank said, dismissing market rumors of suspension of the program by the country's major lenders.
 
Beifa writing instruments to strike off need for imports
Beifa Group, the country's leading manufacturer of stationery, said it has mastered the technology to produce a ballpoint pen using China-made materials and parts.
 
Ex-Microsoft exec gets top Baidu post
Search engine giant Baidu Inc has appointed former Microsoft Corp executive Lu Qi its president and chief operating officer, a major push to help the company gain an edge in its latest profit driver-artificial intelligence.
 
Next target is to cut costs, make machines locally
Experts have said the development of homegrown world-class ballpoint pen heads would cut the cost of making the tips by roughly 50 percent.
 
Outbound non-financial direct investments up 44%
China's total outbound direct investment from the non-financial sector jumped 44.1 percent to $170.11 billion in 2016 compared with the previous year, according to data released by the Ministry of Commerce on Monday.
 
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