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  • July 30, 2014
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  1. Business - Economy

    China's services trade grows along with deficit

    Posted Jul 29th 2014, 01:26am by Victoria Ruan

    ... the country still lacks competitiveness in high-technology areas such as finance and legal services," Everbright Securities chief economist Xu Gao said. "The deficit will last quite ... Victoria Ruan in Beijing victoria.ruan@scmp.com Sector's imports and exports rise 15.3 per centin the first half, while gap widens 5.6 per cent Mainland services trade grows along ...

    http://www.scmp.com/business/economy/article/1561389/chinas-services-trade-grows-along-deficit
  2. Business - China Business - ANALYSIS

    Ralls legal victory may impact US review of foreign investments

    Posted Jul 18th 2014, 02:57am by BIEN PEREZ

    ... Bien Perez bien.perez@scmp.com Court victory by Chinese company could signal changes in secretive US government reviews of foreign investment in sensitive industries Wind farm legal win ... Sany Group, and Wu Jialiang, the general manager at subsidiary Sany Electric. Ralls sued, marking the first-ever legal challenge to a presidential veto, but saw its case dismissed in February ...

    http://www.scmp.com/business/china-business/article/1555853/ralls-legal-victory-may-impact-us-review-foreign-investments
  3. Business - Banking & Finance - FINANCE

    Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by DON WEINLAND, George Chen

    ... state-run CCTV accuses Bank of China of money laundering BOC said the Youhuitong service was part of a legal pilot scheme launched in 2011. It said the CCTV report "deviated from ... Don Weinland and George Chen CCTV accuses Bank of China of providing money laundering service Citic Bank also moves money overseas, say sources A day after Bank of China (BOC) was accused ...

    http://www.scmp.com/business/banking-finance/article/1550351/bank-china-laundering-money-would-be-emigrants-cctv-reports
  4. Business - China Business - RETAILING

    New e-commerce service takes challenge to rival Alibaba

    Posted Jul 28th 2014, 04:27am by BIEN PEREZ

    ... Bien Perez bien.perez@scmp.com New e-commerce service takes challenge to Alibaba Shanghai Media Group and Singapore-based YuuZoo are due to launch this week a new social media ... and services linked to the network's television shows. "That means we can make more money from advertisers and e-commerce, which is an industry being driven nowadays by recommendations ...

    http://www.scmp.com/business/china-business/article/1560743/new-e-commerce-service-takes-challenge-rival-alibaba
  5. Business - Economy - TRADE

    Growing service sector held back by regulation, protectionism

    Posted May 28th 2014, 10:28am by PATRICK LOW

    ... measures applied in 40 countries to 18 service sectors. Air transport, legal services, accounting, broadcasting, courier services, architecture, telecommunications and maritime transport top ... Patrick Low Protectionism is holding back growth in services around the world, a new OECD survey shows, reinforcing the need to reform such trade barriers The dead hand of regulation ...

    http://www.scmp.com/business/economy/article/1520224/growing-service-sector-held-back-regulation-protectionism
  6. Business - China Business - INTERNET

    Chinese head for online banking services as Weibo users shrink

    Posted Jul 23rd 2014, 01:33am by James Griffiths

    ... James Griffiths james.griffiths@scmp.com Online banking surge clouded by risks on mainland The number of online financial services users on the mainland jumped 56.4 per cent to 292 million ... and payments services have boomed in the last year, with Alibaba's Yu E Bao savings product drawing attention from financial regulators after the online fund snagged HK$642 billion in deposits ...

    http://www.scmp.com/business/china-business/article/1557339/chinese-head-online-banking-services-weibo-users-shrink
  7. Business - Banking & Finance - BANKING

    CBRC orders banks to create firewall around wealth management services

    Posted Jul 14th 2014, 03:09am by Reuters, Ray Chan

    ... Reuters in Shanghai and Ray Chan Regulator calls for wealth management firewall Mainland banks must create a firewall around increasingly popular wealth management services, the banking ... channels. The new rules require banks to set up separate departments for risk management, accounting and statistical analysis for wealth management services, and give details for each wealth ...

    http://www.scmp.com/business/banking-finance/article/1553601/cbrc-orders-banks-create-firewall-around-wealth-management
  8. Business - Banking & Finance - FINANCING

    Private lending 'legal' in Wenzhou

    Posted Mar 03rd 2014, 02:59am by Bloomberg

    ... service firms and lending service institutions, three types of intermediaries that are not part of the legal financial system elsewhere on the mainland, Xinhua reported. Such lending service ... Bloomberg in Beijing Private lending made 'legal' in Wenzhou Private lending was formally legalised in Wenzhou at the weekend as the central government seeks to improve smaller ...

    http://www.scmp.com/business/banking-finance/article/1438786/private-lending-legal-wenzhou
  9. Business - Companies - TELECOMMUNICATIONS

    HKT bets on scale to expand its share of city's mobile services market

    Posted Jul 08th 2014, 01:54am by BIEN PEREZ

    ... share of mobile subscribers in Hong Kong and about 42 per cent share of service revenue. Government data shows total mobile subscriptions in the city was about 17 million at the end of March. The Communications Authority calculates that HKT controls 39 per cent of the 537 megahertz of 2G, 3G and 4G spectrum- the radio frequency bands over which mobile network services are provided- assigned ...

    http://www.scmp.com/business/companies/article/1549242/hkt-bets-scale-expand-its-share-citys-mobile-services-market
  10. Business - Comment - LAI SEE

    Anthony Wu pays the price of professional misconduct

    Posted Jul 24th 2014, 12:59am by Howard Winn

    ... but it is unclear whether it will also pay Wu's. If not that leaves Wu with a HK$250,000 fine, a charge of HK$1 million for the HKICPA's costs plus his own legal fees, which presumably are no less ... In the meantime, while this case has been allowed to drag on for more than 10 years Wu has developed another career in public service helped by political friends in high places. Had he come under the ambit ...

    http://www.scmp.com/business/article/1557780/anthony-wu-pays-price-professional-misconduct

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