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July, 31, 2016

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China > Business
China's Fosun on Saturday signed an agreement to acquire Brazil-based investment management firm Rio Bravo, according to a statement, just a day after the Chinese conglomerate announced another massive overseas deal.
 
Mainland China legalizes ridesharing services
Mainland China on Thursday announced new rules governing ridesharing services, making clear for the first time that they are now legal in a giant market where U.S.-based Uber is at loggerheads with local rival Didi Chuxing.
 
Cambodia's Tourism Ministry has unveiled a policy to encourage the sector to accept renminbi, or the yuan, as part of a drive to attract tourists from China, a local newspaper reported on Wednesday.
 
Rise of China boosts emerging economies' share of world's top earners
A new study of the world's top-earning 1 percent found that many more of them are from emerging economies than in previous decades, a trend largely driven by economic growth in China.
 
Xiaomi takes dip into PC market
Xiaomi Corp unveiled its first laptop on Wednesday, in an effort to test the waters in the personal computer business as the Chinese smartphone vendor struggles with declining handset sales.
 
The 14th ChinaJoy Expo kicked off on Thursday at the Shanghai New International Expo Center.
 
Twelve national joint-equity commercial banks announced on Thursday they will stop charging their clients service fees for interbank money transfers via electronic channels, such as Internet and mobile banking.
 
China's LeEco to buy US TV maker Vizio for $2 billion
Chinese internet company LeEco Holdings Ltd announced on Tuesday it has entered into a definitive agreement to buy Vizio Inc, a leading consumer electronics company in North America, for $2 billion.
 
Apple Inc recorded decline in revenue in the three months that ended in June, the company reported on Tuesday.
 
Brewing a new tea culture
This summer, Chinese youngsters are rediscovering their culture's time-honored tradition of tea-drinking as a fashionable pastime, as a rising number of businesses modernize the way the beverage is consumed.
 
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