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May, 3, 2016

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China
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.
 
Mainland China's defense agency appeared Thursday to confirm a test of an intercontinental missile. A three-sentence statement posted on the agency's website posed the question of whether China had fired an ICBM in the area of the disputed South China Sea, which is claimed almost entirely by China.
 
Parents of students at an elite Chinese secondary school have demanded government action, claiming their children developed health problems from former chemical plants near its new campus, with authorities now investigating the case.
 
China's Xi moves to take more direct command over military
Bolstering his status as China's most powerful leader in decades, Chinese President Xi Jinping has assumed a more direct role as head of the country's powerful armed forces with the new title of commander in chief of its Joint Operations Command Center, state media and analysts said Thursday.
 
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.
 
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