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August, 30, 2016

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Business > Asia > China
China officially launched a new multibillion-dollar jet engine conglomerate with almost 100,000 employees at the weekend, as Beijing seeks to become an aerospace power and compete with the likes of Rolls Royce and General Electric.
 
The lack of business confidence among private companies has emerged as one of the most worrying trends for China's economy, the world's second largest.
 
Chinese oil giant Sinopec, Asia's biggest refiner, saw its first half net profits drop 21.6 percent, it said, hit by low oil prices.
 
China, ASEAN 'need to seal partnership agreement fast'
A top Chinese think tank says it is now imperative for China and ASEAN member countries to speed up Regional Comprehensive Economic Partnership negotiations in order to upgrade economic relations to the next level.
 
China's main offshore oil and gas producer CNOOC saw its shares on the Hong Kong stock exchange fall Thursday, after it reported a US$1.16 billion net loss for the first half of 2016.
 
China's biggest oil producer PetroChina's net profit plunged 97.9 percent in the first half of this year, it said Wednesday, as it struggled with a weak domestic economy and low oil prices.
 
China's biggest property firm Vanke on Monday blamed a takeover it is trying to fight off for worsening business conditions, even as it reported higher profits.
 
Claiming to be the world's largest building by floor space, the 1,760,000 square meters of the New Century Global Center are a monument to growing Chinese consumer power, packed with shoppers -- and beach bathers a thousand kilometers from the coast.
 
China's central government has approved plans to link trading between the Shenzhen stock exchange and the Hong Kong market, it said Tuesday, paving the way for the long-awaited reform.
 
Nepalis flocking to annual haat bazaars in Tibet
Chinese traders have set up annual haat bazaars on the Tibetan side of Hyajimar-Mugu and Kyatochhongra-Dolpa border points.
 
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