Economy

Tougher rules for non-bank payment firms - China Economy News
Economy

Tougher rules for non-bank payment firms

The People's Bank of China will hold talks with institutions over their market dominance once a single player's market share reached a third of the total non-bank payment industry.
China's FDI inflow up 6.2% to record high in 2020 - China Economy News
Economy

China's FDI inflow up 6.2% to record high in 2020

Foreign direct investment into the Chinese mainland, in actual use, expanded 6.2 percent year on year to a record high of 999.98 billion yuan in 2020.
State-owned firms, backed by reforms, report profits  - China Economy News
Economy

State-owned firms, backed by reforms, report profits

Net profits of the country's 97 central SOEs expanded 2.1 percent year on year in 2020 to 1.4 trillion yuan (US$215.77 billion).
China banking regulator: SOEs are subject to negative subsidies - China Economy News
Economy

China banking regulator: SOEs are subject to negative subsidies

On average, the tax burden of SOEs is about twice the size of private enterprises.
Hong Kong jobless rate hits 16-year high - China Economy News
Economy

Hong Kong jobless rate hits 16-year high

Hong Kong's jobless rate hit a 16-year high in the October-December period as the fourth wave of the COVID-19 outbreak further compounded the labor market situation.
Labor market recovery continues to improve - China Economy News
Economy

Labor market recovery continues to improve

The final quarter of 2020 saw a clear improvement in China's labor market but a study finds that there's still a big difference in the pace of job creation among industries.
China's GDP expands 2.3% year on year in 2020 - China Economy News
Economy

China's GDP expands 2.3% year on year in 2020

China's gross domestic product expanded 2.3 percent year on year in 2020, exceeding the 100-trillion-yuan (US$15.42 trillion) threshold to 101.5986 trillion yuan.
China's retail sales down 3.9 pct in 2020 - China Economy News
Economy

China's retail sales down 3.9 pct in 2020

China's retail sales of consumer goods, a major indicator of consumption growth, fell 3.9 percent year on year in 2020, the National Bureau of Statistics said Monday.
Shanghai a top city for exhibitions and conventions - China Economy News
Economy

Shanghai a top city for exhibitions and conventions

Shanghai outperformed other major conference and exhibition centers around the globe in 2020 despite the COVID-19 pandemic.
Spring Festival dinner at home this year - China Economy News
Economy

Spring Festival dinner at home this year

City releases a list of restaurants ready to provide the festive food as it encourages residents to celebrate at home as part of efforts to prevent the spread of COVID-19.
Self-use demand drives Shanghai's property investment market Richemont sales sizzle on China's Cartier zest Tesla Model 3 catches on fire but no one injured Banks to increase support for Yangshan zone Jack Ma appears in public after two months More support announced for CIIE exhibitors Allbirds profits from sustainable design How China refines its biz climate for foreign investors WM Motor reveals latest electric vehicle China to have new beauty devices standard City Grade A office rentals extend decline A much needed shot in the arm for offline shopping Events blend online and offline business Survey finds people wanting to save more JLL predicts 20% rise in real estate investment Tencent and Geely join forces to expand digitization Kuaishou to be first of its kind to list Starbucks cultivates growing taste of coffee in China Tesla rolls out Model Y in Shanghai to offer a new experience Southeast Asia's Grab considering US$2b IPO Douyin set to offer another digital payment option China to become world's largest IoT market in 2024: report Forum told cities need to be more resilient New home buying sentiment remains strong City's new housing market ends 2020 with a roar China bans fixed-term deposits for banks via third-party Internet platforms City encourages better community management Investment down in 2020 but medical and technology still booming China's largest cargo airline expands fleet to 63 Deliveries begin for Tesla's China-made Model Y Manulife-Sinochem receives approval for a new branch in Shaanxi Chinese online media upstart PingWest receives indictment from Tesla China's insurance sector ready for recovery in 2021 New home sales in city hit a 3-year high AI firms conclude cooperation agreements Surge in demand for consumer electronics 158,000 Tesla recall for touchscreen failures Banks barred from online deposits business via third-party platforms Samsung heir sentenced to 2.5 years in prison for corruption New Development Bank HQ completes construction China's top market regulator probes Vipshop over suspected unfair competition China's new home prices slow in November as market-cooling steps take hold
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