WeChat accounts cross one billion mark: CEO

WeChat’s worldwide accounts have crossed the one billion mark, according to the chief executive of its parent company Tencent. The all-in-one app is a daily necessity for most Chinese, bringing together messaging, social media, mobile payment, games, news and other services. “WeChat’s worldwide monthly active users have surpassed the critical one billion mark,” CEO Pony Ma… Read more

Coca-Cola to launch its first alcoholic drink in Japan

Coca-Cola plans to launch its first ever alcoholic drink in Japan, in a suprising departure for a US company identified with cola and other non-alcoholic beverages. While Coca-Cola dabbled in the wine business in the 1970s, the Japanese experiment is “unique” in the company’s 125-year history, said Coca-Cola Japan president Jorge Garduno. The new offering will… Read more

Geely reaches for the skies

For Zhejiang Geely Holding Group, even the sky is no limit to its ambition, literally. The Chinese carmaker, which made headlines last week by becoming the largest shareholder in Mercedes-Benz owner Daimler, is to produce flying cars in China. A Geely representative confirmed on Wednesday to China Daily that it is hiring engineers, who must be… Read more

Chinese billionaire Li Shufu buys biggest single stake in Daimler

Chinese billionaire Li Shufu has bought a near 10-percent stake in Mercedes-Benz maker Daimler, making him the German group’s largest single shareholder, a stock market filing showed Friday. Li, who chairs auto giant Geely Automobile Holdings, bought a 9.69-percent stake in the carmaker, worth around 7.2 billion euros ($8.9 billion), according to the filing. The size… Read more

Indian police arrest six as inquiry widens into bank fraud

India’s federal police have arrested six people, including employees of a billionaire jeweller, as an inquiry into one of the country’s biggest bank scams widens, investigators said Wednesday. The Central Bureau of Investigation is looking into allegations that Nirav Modi, a jeweller to Hollywood stars including Kate Winslet and Naomi Watts, was involved in scamming India’s… Read more

Che Guevara Artist Turns Brush to Ahed Tamimi

Fifty years ago, Irish artist Jim Fitzpatrick first shared his now-famous black-and-red poster print of Marxist revolutionary Che Guevara with the world. The image quickly became a universal symbol of resistance and anti-oppression following Guevara’s death in 1967 and is recognized across the globe. Now, Fitzpatrick is poised to do it again. This time, the subject… Read more

South Korea Mulling Tougher Cryptocurrency Regulation

South Korea may be a global hub for cryptocurrency trading, but that doesn’t mean the government is happy about the fact. If anything, the country’s financial regulator is in talks with counterparts in neighboring China and Japan to cooperate on regulating the industry. According to a report Monday by South Korea’s Yonhap News Agency, the Financial… Read more

China vows to clean up pollution, further open economy

China ended a major economic meeting on Wednesday, vowing to boost imports, open its markets and clean up noxious pollution. The pledges were made at the annual Central Economic Work Conference, at which leaders review past policy and plan for the upcoming year. The results of the three-day closed-door meeting were released by state news agency… Read more

Taiwan steel firm behind toxic dump in Vietnam fined again

A Taiwanese steel firm behind a toxic spill that killed tonnes of fish in central Vietnam last year was fined for a second time for illegally burying “harmful” waste, official sources said Sunday. The deadly dump from Formosa’s $11 billion steel plant in Ha Tinh province sparked one of the country’s worst environmental catastrophes, decimating livelihoods… Read more

E-commerce brings prosperity, helps bridge rural-urban divide

JINAN – After borrowing 1,400 yuan ($200) to buy a computer, Ren Qingsheng made his first online sale in 2010, earning 600 yuan in profit from the deal. That year, Ren, the first business owner to tap into e-commerce in Dinglou, a village in Shandong province, made a total of 7,000 yuan from online sales. Previously,… Read more

N. Korea fires ballistic missile

North Korea fired a ballistic missile Wednesday, South Korean military officials said, the first such launch in two months and just a week after the US slapped fresh sanctions on the hermit state and declared it a state sponsor of terrorism. The North has stoked international alarm over its banned nuclear missile program but before Tuesday… Read more

Celebrity elephant kills owner in Thailand

An elephant that has starred in feature films and commercials crushed its owner to death in Thailand, zoo officials said Tuesday, setting off fresh debate over the kingdom’s animal tourism industry. The accident took place Monday morning in the northern city of Chiang Mai, just after owner Somsak Riengngen unchained the five-tonne elephant Ekasit. With a… Read more

Overseas students turning away from US universities

Report points to uncertainty and competition as China stays top WASHINGTON – Universities are becoming less attractive to overseas students, according to a report released on Monday, adding to the financial woes of many less prestigious schools. The annual report by the Institute of International Education showed that newly enrolled international students in 2016 dropped by… Read more

Japan railway ‘deeply sorry’ after train leaves 20 seconds early

A Japanese railway operator has issued a deep apology for the “tremendous nuisance” caused by a train departing 20 seconds early, surprising even a nation renowned for both punctuality and politeness. The Tsukuba Express train linking Tokyo and the capital’s northern suburbs pulled out of Minami Nagareyama Station at 9:44:20 instead of 9:44:40. “We deeply apologise… Read more

Dutch Philips looks east over Brexit concerns

Dutch electronics giant Philips said Monday it will increasingly rely on emerging markets as a buffer against the possible negative effects of Brexit, warning of a revenue drop and possible job losses in Britain. “I don’t think we’ve seen a big impact yet (from Brexit),” said the Amsterdam-based group’s chief executive Frans van Houten. “But I… Read more

Tesla to build wholly-owned Shanghai plant: WSJ

Tesla has reached an agreement with Shanghai authorities that would make it the first foreign automaker to build its own plant in China, putting it in the driver’s seat in the world’s biggest electric-vehicle market, the Wall Street Journal reported. The Silicon Valley electric carmaker’s wholly-owned manufacturing facility would be built in Shanghai’s free-trade zone, the… Read more

‘Death by overwork’: occupational hazard for Japan’s media

The news that a young reporter at Japan’s public broadcaster had worked herself to death came as little surprise to those inside the country’s media, where a culture of excessively long hours has become the norm. “I thought it would happen eventually because we work like crazy… like a slave,” said a journalist at one of… Read more

China to double target of new energy cars

A man charges an electric car at an electric-car rental service bay in Liuzhou, Guangxi province, July 31, 2017. [Photo/VCG] China will double its new energy cars development goal by 2020 as it reaches its target ahead of schedule. Cai Tuanjie, an official of the China’s Ministry of Transport said, the number of new energy cars… Read more

Maritime Silk Road expo sees strong growth

The 2017 Guangdong 21st Century Maritime Silk Road International Expo, also known as the MSR Expo, held in Dongguan, Guangdong province, from Thursday to Sunday, attracted some 251,000 domestic and foreign participants. According to the organizers, contracts worth 219 billion yuan ($33.23 billion) were signed at the event. The expo hosted delegations from 79 countries and… Read more

China’s top ride-sharing company calls for building cities around people

Jean Liu, president of Didi Chuxing, speaks during the Bloomberg Global Business Forum in New York on Sept 20, 2017.[Photo/VCG] NEW YORK – Future cities should be built around people, not machines, said Jean Liu, president of Didi Chuxing, a top Chinese ride-sharing company. Cities should empower people rather than stress them out, and should have… Read more

City ranks 6th among world’s top financial centers

Shanghai has moved up to the sixth place in the 22nd Global Financial Centres Index, moving from the 13th place in the previous ranking. This is the first time Shanghai has joined the world’s top 10 since the inception of the index in 2007. In a subranking, Shanghai was ranked the world’s number one among insurers,… Read more

Cashless Dreams Feature Motorbike Bankers, E-wallets in Vietnam

Think of it as motorbike banking. For Vietnamese who live far from a retail bank branch, VietinBank scrambles scooters so its officers can meet clients where they live, tablet in hand. There’s also the strategy of DongA Bank, which decks out a van with four ATMs and parks it near factories to reach laborers. All across… Read more

Young Taiwanese choose China jobs over politics

Taiwan has long seen its international allies switching allegiance to an ascendant Beijing, but now there are also fears of a brain drain of the island’s youth as they pursue careers in rival China. Cross-strait tensions have soared since China-sceptic Tsai Ing-wen took power last year, with Beijing cutting all official communication. China still sees the… Read more

China moves higher in global innovation index: report

BEIJING – China is steadily working its way toward a higher position on the world’s innovation index ranking, as a report released Friday placed it 17th on the index measuring innovation capability out of 40 major ranked countries. The national innovation index report 2016-2017 by the Chinese Academy of Science and Technology for Development (CASTED) shows… Read more

Rural areas to boost new energy sales

An electric vehicle by BAIC Group catches visitors’ eyes at an international new energy auto expo in Beijing. [Photo by CHEN XIAOGEN/CHINA DAILY] Shorter trips, better power access means low-tier markets have higher appetite for sector, Hao Yan reports. After a market wobble in 2016, new energy vehicle sales are predicted to ramp up by 51.8… Read more

China securities watchdog punishes market manipulators

Investors look at computer screens showing stock information at a brokerage in Shanghai, August 13, 2015.[Photo/Agencies] BEIJING – The Chinese securities watchdog has announced punishments for a market manipulation case. Que Wenbin, the controlling shareholder of pharmaceutical firm Hengkang Medical Group Co Ltd, conspired with an asset management company to drive up Hengkang shares and reduce… Read more

Alibaba enters China’s housing rental market

Two men chat beside a logo of Alibaba at its headquarters on the outskirts of Hangzhou, Zhejiang province. [Photo/Agencies] HANGZHOU – Chinese tech giant Alibaba has signed an agreement with its home city government to use the company’s technology to create an online system for house rentals. The system will cover apartments put up for rent… Read more

SoftBank profit jumps 50 per cent on profitable Sprint

Tokyo (dpa) – Japan’s internet service giant SoftBank saw its operating profit in the April-to-June period rise 50 per cent from a year earlier to 479.3 billion yen (4.3 billion dollars) due to improving profitability at its US wireless carrier Sprint, the company said on Monday. SoftBank also posted a net profit of 5.5 billion yen… Read more

Russian state oil companies rail against new US sanctions law

Moscow (dpa) – Russian state oil companies Rosneft and Transneft railed against a new US sanctions law on Thursday, vowing to find ways to circumvent it. “In principle we will not be affected,” pipeline company Transneft’s CEO, Nikolai Tokarev, said in comments carried by state news agency RIA Novosti. Nearly all the equipment that Transneft uses… Read more

Jaguar Land Rover to build SUV model in China

Ralf Speth, CEO of Jaguar Land Rover Plc, poses beside a Jaguar XE automobile at an auto expo.[Photo/Agencies] British automaker Jaguar Land Rover has announced it will build its new E-PACE compact SUV in Austria and China. The company said its plants in the United Kingdom are close to full capacity, and it expects there will… Read more

China, Russia sign bank deal to open investment doors

China Development Bank signed a framework agreement with Russian Vnesheconombank on Tuesday to participate in Russia’s $2 billion innovation projects. The document was signed by Hu Huaibang and Sergey Gorkov, chairmen of the two respective state-owned banks, in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping, who is paying an official visit… Read more

Digital Economy Seen Presenting New Opportunity for US-ASEAN Engagement

Countries that make up the Association of Southeast Asian Nations will be a wellspring of opportunity for the United States because of growth in the region’s digital economy and its young population, researchers say. Those combined forces will “create a much more dynamic [economy] … over the coming decades,” said Satu Limaye, head of the Washington… Read more

China leads the pack

A platform is used to collect combustible ice in the South China Sea recently. GUO JUNFENG/CHINA DAILY Editor’s note: In the run-up to the 19th Communist Party of China National Congress, China Daily will cover a series of key projects of national importance, showcasing the country’s huge improvement and relentless efforts in manufacturing upgrade and innovation.… Read more

Kazakhstan showcases economic achievements at Astana Economic Forum

The Astana Economic Forum is an opportunity for international dialogue, discussion and brainstorming on a range of economic issues facing Central Asia and the rest of the world. For Kazakhstan, it’s an ideal showcase for its economic achievements. Kazakhstan is a founding member of the Eurasian Economic Union and is now making concerted efforts towards setting… Read more

China punishes irresponsible securities brokerage firm

BEIJING – China’s securities regulator has punished the Chongqing-based Southwest Securities for not exercising due diligence on the reorganization of two companies. Southwest Securities served as the independent financial adviser for the reorganization of Shenzhen-listed Anshan Heavy Duty Mining Machinery Co with Nine Top Group, an office service company based in East China’s Zhejiang province. The… Read more

Hong Kong named most competitiveness economy

Skyscrapers line the harbor in Hong Kong, on Feb 9, 2016. [Photo/Xinhua] Hong Kong was rated as the most competitive economy for the second year in a row, while the Chinese mainland jumped up seven places on the 2017 World Competitiveness Yearbook released on Thursday. The rankings published by the International Institute for Management Development in… Read more

Chinese customers prove loyal to domestic daily consumer goods

Chinese brands are dominating the fast moving consumer goods industry. According to the fifth annual Brand Footprint report from Kantar Worldpanel, Chinese brands have claimed 9 out of 10 places for fastest growing brands, with Yili retaining top spot. Mengniu moved up one place to second. While 2016 was a difficult year for the fast-moving consumer… Read more

Cryptocurrency Goes Mainstream: Omise and Kik Both Plan ICOs

Initial coin offerings have officially gone mainstream. The Asian fintech startup Omise announced Wednesday a plan to raise $19 million with a cryptocurrency sale, a move TechCrunch deemed the first ICO from a “major VC-backed startup.” This the second such Ethereum-based project announced within the past eight days. The messaging app Kik debuted the plan for… Read more

Shanghai Disney to welcome 10m visitor

Mickey Mouse and other Disney characters entertain visitors at Shanghai Disney Resort.[Photo by Yin Liqin/For China Daily] Shanghai Disney Resort said it is ready to welcome its 10 millionth visitor, as the resort approaches its first anniversary on June 16. “In the next few days, Shanghai Disney Resort will welcome its 10 millionth guest,” said Robert… Read more