A vendor looks over accounts in her shop stocked with monkey dolls made for the Year of the Monkey in Beijing in January. Zou Hong / China Daily

Yang becomes World Bank MD

The World Bank has appointed China’s Yang Shaolin as its managing director and chief administrative officer, China’s Finance Ministry said. Yang is currently the director general of the Department of International Economic and Financial Cooperation in the Ministry of Finance. He is in charge of economic and financial cooperation between China and international financial institutions as well as foreign governments.

The position has been created to bring together the WB’s functions like organizational strategy, budget, planning, information and technology.

Visa rules make travel easier

A major cross-region, visa-free transit policy covering the Yangtze River Delta has taken effect. Foreign tourists and businesspeople from 51 countries and regions passing through Shanghai and Jiangsu and Zhejiang provinces now have 144 hours of visa-free access, the Ministry of Public Security said.

To qualify, a passenger must hold valid international travel documents and have booked tickets with confirmed dates and destinations.

$3.2b offer for U.S. crane maker

Zoomlion Heavy Industry Science & Technology Co. of China confirmed on Jan. 27 an unsolicited takeover bid for Terex Corp., the U.S. crane and construction machinery maker.The deal will be vital to Zoomlion’s transformation and the implementation of the company’s global strategy, and it will help increase Zoomlion’s revenue and profits. Zoomlion had offered $30 a share for the company, valuing it at $3.2 billion, Terex said.

McDonald’s bets on digital growth

The fast food chain McDonald’s unveiled the first of its Experience of the Future restaurants on the Chinese mainland on Jan. 27 in the Wangfujing shopping district of Beijing. It offers digital, personalized and customized service. A similar…

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