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December, 6, 2016

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China > Business
China market embraces Christmas
A woman and a child pose for a souvenir photo near a Christmas lights decoration on display outside an office building in Beijing, Thursday, Dec. 1. Although Christmas is not traditionally celebrated in China, a growing number of businesses are trying to whirl up some holiday spirit -- and shopping.
 
The central bank has drawn up new guidelines to strengthen inspections of domestic companies that make yuan loans overseas, the latest move to curb speculative shifting of yuan amid short-term depreciation pressure, a source with the bank said on Thursday.
 
'Dramatic changes ahead for SOEs'
China's biggest state-owned companies will see "dramatic changes" in the next few years as they will have to downsize and become more efficient, according to the former chairman of two of the country's biggest producers.
 
OPEC's agreement to curb crude production for the first time in eight years will have more impact on the upstream sectors of China's oil giants, analysts said.
 
China's consumer protection watchdog once again on Tuesday asked Apple Inc to explain and provide solutions to malfunctions reportedly found in iPhone 6/6Plus and 6s/6s Plus models.
 
Newly created China Baowu Steel Group Corp aims to be a global leader as it undertakes multiple market-based reforms, including eliminating excess capacity and enhancing its international competitiveness.
 
Baidu launches AI platform to further expand cloud usage
Chinese internet giant Baidu Inc launched an artificial intelligence (AI) platform for commercial users at an industry summit held in Beijing on Wednesday.
 
VW, BMW, Ford to set up charging network
Volkswagen AG, BMW AG and Ford Motor Co plan to set up a European network for the speedy charging of electric-car batteries as the auto manufacturers seek to overcome customer resistance to the vehicles.
 
China's economy still has many engines for development, such as emerging industries and supply-side reform, experts say.
 
BTR bets big on EV market to drive growth
Shenzhen BTR New Energy Materials Inc, the world's leading anode materials supplier for lithium-ion batteries, said it is betting big on the development of the electric vehicle market to drive stronger growth of its business.
 
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