The China-initiated Asian Infrastructure Investment Bank (AIIB), a complement to existing international financial system, was formally established Friday in Beijing and expected to start operation early next year. "The AIIB is legally ...
Tags: AIIB
U.S.-based General Electric has won a contract to supply turbines to the Wudongde hydropower plant located in southwest China. The company will provide six turbine-generator sets and related equipment, accounting for half of the project's ...
Tags: GE, China Hydropower
Three volumes of "Flora of the Pan-Himalayas" have been published as part of a project to understand the region's plant life, scientists said Saturday. Started in 2010, the compilation aims to provide scientific guidance for protecting ...
Tags: Chinese-LED Team, Pan-Himalayas
China's central bank is allowing individuals to set up bank accounts via video teller machines and the Internet. The People's Bank of China issued a note saying banks can use multiple ways to verifying applicants. In addition to going ...
Tags: VTMs, Personal Bank Accounts
China has announced it's setting up a new Strategic Emerging Industry Board to attract domestic innovators to seek funding in Chinese exchanges instead of going abroad. Fang Haixing, a deputy chairman of the China Securities Regulatory ...
Tags: New Board
Chinese commercial bank must verify the identify of clients when they open personal bank accounts to make sure they are using their real names, a circular showed Friday. The People's Bank of China (PBOC), the central bank, released the ...
Tags: Banks, Real-name Accounts
China National Nuclear Corporation (CNNC) made public the country's first software package tailored to its own nuclear power technology on Thursday, a crucial step for exporting nuclear construction. "This package covers the design, ...
Tags: Software, Nuclear Power Technology
Alibaba has agreed to buy some 30 percent stake into China's food delivery service Ele.me, valued at 1.3 billion U.S. dollars. The deal is expected to be completed after the Spring Festival in Feburary of next year. After completion, it ...
Profits of China's major industrial firms fell 1.4 percent year on year in November, narrowing from a 4.6-percent decline posted in October, the National Bureau of Statistics (NBS) said on Sunday. Profits at industrial companies with ...
Tags: Industrial Profit, Decline
The latest changes to China's forex market management will increase yuan volatility and boost trading volumes, according to a leading Chinese investment firm. From Jan. 4, closing time for China's interbank foreign exchange market will be ...
Tags: Forex, Trading Volume
China's economic growth is expected to be unchanged in the fourth quarter of this year, but an improvement is still distant due to property weakness and excess capacity, according to the latest report from UBS. The Swiss banking group ...
China's online retail volume is expected to outperform the rest of the world by reaching four trillion yuan (618 billion U.S.dollars) this year, Commerce Minister Gao Hucheng said Sunday. China has attained key targets outlined by the ...
Tags: Online Retail, Volume
The United Arab Emirates (UAE) has signed an agreement with China to set up a clearing hub for the Chinese currency Yuan or Renminbi, local UAE media reported on Sunday. The UAE clearing hub for the Chinese currency, which will satisfy ...
Tags: RMB Clearing Hub
The decision by the International Monetary Fund (IMF) to confer the reserve currency status on China's renminbi (RMB), "is good news," a former Chilean diplomat said. "It's good news because it acknowledges the role that the Chinese ...
Tags: RMB's Upgrade, Reserve Currency
Housing prices in China are expected to grow steadily in 2016, while divergence between bigger and smaller cities will continue, according to a property research organization. Government policy has perhaps helped to ease the housing glut ...
Tags: Property Sector, Mild Growth