Companies
Mainland stocks rise most in a month
An investor checks stock prices at a securities brokerage in Fuyang, Anhui province. Lu Qijian / For China Daily
Chinese mainland stocks traded in Hong Kong rose the most in a month, with commodity producers gaining as oil prices climbed and President Xi Jinping vowed to press ahead with plans to cut capacity at State-owned enterprises.
The Hang Seng China Enterprises Index advanced 1.4 percent as China Oilfield Services Ltd and PetroChina Co paced gains.
Oil climbed to a seven-month high before US government data forecast to show crude stockpiles dropped for a second week.
// <![CDATA[
document.domain = "chinadaily.com.cn";
// ]]>// <![CDATA[
var _gaq = _gaq || [];
_gaq.push(['_setAccount', 'UA-28295596-1']);
_gaq.push(['_setDomainName', 'chinadaily.com.cn']);
_gaq.push(['_trackPageview']);
(function() {
var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true;
ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js';
var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s);
})();
// ]]>
China’s reform drive aims to improve supply quality and overhaul areas including pricing, taxation, finance and social security, the Xinhua News Agency cited President Xi as saying at a government meeting.
His comments come amid record crude steel output in April, with the industry boosted by easier credit and efforts to shore up economic growth.
The nation should abandon the idea of easing money conditions to accelerate economic growth, the State-run People’s Daily quoted an “authoritative” person as saying last week.
“Resource stocks are the play of the market as rising oil prices and decreasing supply triggered by government’s reforms have…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
(more…)Companies
Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
(more…)Companies
Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
(more…)- Italy and China New DTA Set to Take Effect in 2025: Important Changes and Implications
- China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
- U.S. national debt is its Achilles’ heel, but China sees it as an opportunity
- Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
- Vietnam’s Approach to China: A Balance of Cooperation and Struggle
- 2025 Schedule of Public Holidays in China
