Chinese Takeover Bid for US-based MoneyGram Scrutinized

The financial industry is closely watching Alibaba affiliate Ant Financial’s attempt to acquire Dallas-based MoneyGram International, the world’s second biggest money transfer company after Western Union. Ant is offering $1.2 billion, more than U.S.-based competitor Euronet Worldwide. If successful, the deal would turn Ant Financial into a financial behemoth with access to MoneyGram’s vast network of… Read more

China’s strong growth ensures stable world economy: Economists

SYDNEY – Leading Australian economic experts say China’s first quarter economic results have driven the global economy to success. For the first quarter of 2017, China exceeded expectations, recording a 6.9-percent increase in gross domestic product, or GDP. The result was incredibly positive according to the James Laurenceson, deputy director of the Australia China Relations Institute… Read more

It’s time to harness the power of African youth

Young people can offer the much-needed human capital to speed up economic growth and foster sustainability on the continent Africa, the continent with the biggest potential for growth because of untapped opportunities, is home to 12 percent of global oil reserves (Nigeria, Algeria, Angola, Sudan and new potential sources like Kenya); 40 percent of the world’s… Read more

Pull the plug on internet monopolies

  1. WeChat is China’s most popular mobile text and voice messaging communication service developed by Tencent. [Photo/IC] IN AUGUST 2012, THE DOMESTIC SOCIAL MEDIA APP WECHAT opened a new function called “public accounts” that allows registered users to publish their articles. Those who read an article on a public account can choose to make a payment to… Read more

Move to protect US steelmakers is against norms of world trade

A worker at a steel company in Lianyungang, Jiangsu province, in January 2015. [Photo/China Daily] Announcing that the United States will investigate whether foreign steel imports harm the country’s national security, US President Donald Trump and Commerce Secretary Wilbur Ross have sent an unmistakable message to the big US steelmakers that they will protect them. National… Read more

New energy cars steal the show
Nearly 1,200 new vehicles are exhibited at the Beijing auto show in April 2016, and this year’s show in Shanghai will have a larger scale, with 1,400 cars to be displayed. LI WENMING / FOR CHINA DAILY Electric, plug-in hybrids and fuel-cell vehicles arrive to woo audiences, report Li Fusheng and Hao Yan. One thousand domestic… Read more
China’s economic growth to contribute $125b to Australian economy: Expert
CANBERRA — Strong growth of the Chinese economy, coupled with the Reserve Bank of Australia’s (RBA) decision to cut interest rates to record lows, are expected to deliver a AU$165 billion ($125 billion) boost to the Australian economy, according to Deloitte Access Economics. Recently, China reported an annual growth rate of 6.9 percent for the first… Read more

China’s spending on robotics to hit $59.4b in 2020: IDC

Robot Jia Jia displays at the 2016 World Robot Exhibition in Beijing, Oct 21, 2016. [Photo/Xinhua] SHANGHAI – International Data Corp (IDC) reports that China will be spending $59.4 billion on robotics and related services by 2020. As the largest and the fastest growing robotics market in the world, China will account for over 30 percent… Read more

Top 10 most valuable brands in China

Companies in the technology, banking and telecom industries have dominated a list of most valuable brands in China compiled based on a study by advertising research agency WPP and Millward Brown. The total value of BrandZ Top 100 Chinese Brands hit record levels in 2017, growing 6 percent to reach $557.1 billion in brand value. Here… Read more

Beijing moves into all clean energy era

Unit supervisor Liu Yong of Huaneng Group shuts down the last coal-fired power plant in Beijing on Saturday. [Photo by Yuan Yi/For China Daily] Beijing shut down its last large-scale coal-fired power plant on Saturday, meaning that the capital now uses only clean energy for all electricity and heating. The measure, which was announced in the… Read more

CRRC breaks ground at $100m US railcar factory

Chinese railcar manufacturer CRRC Sifang America broke ground on Thursday in Chicago at a $100 million plant that will build railcars for the city’s transit authority and become the company’s North American hub for the assembly of railcars. In 2016, CRRC Sifang, a unit of China Railway Rolling Stock Corp, was awarded a $1.3 billion contract… Read more

Govt remains committed to economic opening-up: Vice-premier

Vice-Premier Zhang Gaoli delivers a speech at the China Development Forum in Beijing, March 19, 2017. [Photo by Feng Yongbin/chinadaily.com.cn] China remains committed to its stance of economic opening-up and further improve the business environment for foreign investors, said Vice-Premier Zhang Gaoli on Sunday. “China will push for more opening-up,” he told participants of the China… Read more

Apple to set up two more research centers in China

Apple CEO Tim Cook (right) speaks at the 18th China Development Forum (CDF) in Beijing on March 18, 2017. [Photo/VCG] Apple Inc is to set up two more research and development (R&D) centers in Shanghai and Suzhou, following Beijing and Shenzhen, said the head of the US tech giant. “Talents are China’s greatest treasures. Workers in… Read more

Highlights of Premier Li’s press conference

  1. Premier Li Keqiang answers questions of reporters at a news conference during the annual two sessions in Beijing on March 15, 2017. [Photo by Kuang Linhua/chinadaily.com.cn] Premier Li Keqiang met reporters from home and abroad at a news conference on Wednesday at the end of the annual meeting of the National People’s Congress. Premier Li answered… Read more

Top nine priorities of govt for 2017

Night view of Beijing’s skyscrapers, office buildings and highways. [Photo/VCG] 1 Pushing ahead with the five priority tasks through reform Take solid and effective steps to cut overcapacity Take targeted policies to cut excess urban real estate inventory Carry out deleveraging in an active and prudent way Take multiple measures to cut costs Take targeted and… Read more