Chinese Economy

Tightening Chinese internet controls may strangle business - Euro Chamber

An internet cafe in Beijing, where restrictions on access to the internet could harm business. Photo: EPA

China’s recent measures to further restrict the Internet will cause massive harm to foreign and domestic business and the curbs risk becoming a tax on companies operating in the country, the European Chamber of Commerce warned yesterday.

Thursday, 12 February, 2015, 5:20pm 1 comment

China in talks with 28 countries on rail projects

Worker passes by almost completed high-speed train in Tangshan city in Hebei province in China. Photo: EPA

China is in talks with 28 countries including Russia, about high-speed rail projects, state-backed train maker China CNR said on Wednesday.

Yu Weiping, vice president of CNR, said though some of the projects in the 28 countries are in very early stages of discussion.

11 Feb 2015 - 6:02pm

Investors pour into China's thriving healthcare business

A patient is taken care of in a hospital in Yunnan, China, as companies flock into the country's healthcare sector. Photo: Xinhua

Investors are rushing into China’s booming healthcare business, helping merger and acquisition deal values surpass those of the hot internet sector, as the mainland prepares to cater to hundreds of millions of elderly patients.

11 Feb 2015 - 5:36pm

Beijing Capital Land targets 40 per cent growth to 35 billion yuan

Apartment blocks in Beijing, China. Property developer Beijing Capital Land is aiming for 40 per cent growth in its contracted sales this year. Photo: Reuters

Mainland China developer Beijing Capital Land is aiming for a 40 per cent growth in its annual contracted sales this year to 35 billion yuan (HK$44.45 billion) as it expects easier monetary policies will boost housing demand, senior executives said on Tuesday.

10 Feb 2015 - 9:53pm

China’s annual consumer inflation hits 5-year low in January

Slow inflation reinforces signs of persistent weakness in the Chinese economy. Photo: EPA

Consumer inflation on the mainland hit a five-year low last month, underscoring the economic slowdown and adding weight to calls for more monetary easing or stimulus.

11 Feb 2015 - 9:53am 5 comments

China lifts three-year ban on Valemax cargo ships

Very large ore carriers at a port in Jiangsu province, China. The country lifted a three-year old ban on Valemax dry bulk carriers docking in its ports. Photo: Reuters

A new government circular on the design of dry bulk cargo ships released on Monday indicates that mainland China has lifted the ban on Valemax, the giant iron ore carriers developed by Brazilian miner Vale that was forbidden to dock at mainland ports for three years.

10 Feb 2015 - 5:00am

New World China Land warns profit to drop 55 per cent in six months to December

Cranes stand at a construction area in China's capital of Beijing. Photo: AP

New World China Land, the mainland China property arm of New World Development, said on Monday its profit is expected to drop by 55 per cent in the six months period to December, after a sharp slowdown in project delivery.

9 Feb 2015 - 10:34pm

Atradius worried over rising payment problems in China

Employees watch goods being loaded for export in a port in China. Photo: Reuters

Credit insurer Atradius warns of spiraling payment problems in China as trade data for January signals the sharpest slowdown in domestic demand in five years. A pile of unpaid bills would exacerbate reluctance among suppliers to ship goods to companies due to the risk of further running up bad debts.

9 Feb 2015 - 7:17pm

Moody’s survey reveals fears about China’s slowdown

China’s growth outlook would continue to dominate market concerns this year, over monetary tightening in the US, the euro area, geopolitical risks and the collapse in oil prices. Photo: Reuters

China’s slowing economy is the largest challenge facing Asian sovereigns this year, finds a survey by credit rating agency Moody’s Investors Service.

9 Feb 2015 - 10:52am

Asian shares stumble as weak China trade stokes growth worries

Asian equities under pressure early on Monday after China trade data comes in far weaker than markets expected. Pic: EPA

Asian shares wobbled on Monday after dismal Chinese trade data eclipsed a strong US jobs report, raising concerns about a deepening slowdown in the world’s second-largest economy and sending the Australian dollar sliding.

9 Feb 2015 - 9:22am

NVC Lighting says founder enters pledge deal without knowledge of board

Lights illuminate a woman in a conference in China. Photo: K.Y. Cheng

NVC Lighting, one of China’s biggest lighting manufacturers, recently discovered its founder and former chief executive Wu Changjiang has made a pledge agreement of 23 million yuan (HK$29.2 million) without the knowledge of its board of directors, the Hong Kong-listed firm announced on Friday.

6 Feb 2015 - 4:53pm

Chinese online video provider LeTV takes aim at manufacturing cars

Cars crawl along in a traffic jam in Zhengzhou. Video provider LeTV plans to make its own car in the world's biggest automobile market. Photo: Xinhua

Chinese online video provider LeTV’s electric car plan is a sign of the rising fervour among internet companies to enter the automobile world, but industry insiders have poured cold water on the idea for underestimating the complexity of car production.

4 Feb 2015 - 4:40pm

Provinces plan to boost economy with US$2.4 trillion spend on infrastructure

Sichuan has announced it will spend 2.99 trillion yuan to boost industrial and other expansion. Photo: Xinhua

Fourteen Chinese provinces plan to invest a combined 15 trillion yuan (US$2.4 trillion) in infrastructure and other projects starting this year as part of their effort to help set a bottom on a slowdown in the economy, an official newspaper said on Wednesday.

4 Feb 2015 - 10:22pm

China services sector slows to 6-month low in January

Official surveys show growth in the services sector cooled to a one-year low in January. Photo: Reuters

China’s services sector grew at the slowest pace in six months in January as growth in new business weakened, a private survey showed, raising expectations that policymakers may unveil more stimulus steps to avert a sharper slowdown in the world’s second-largest economy.

5 Feb 2015 - 6:11pm

China to cut fuel surcharges for domestic flights for first time since 2009

A China Southern Airlines jet is seen at Shanghai's international airport. The authorities cut fuel surcharges for domestic flights for the first time since 2009. Photo: Bloomberg

Chinese airlines will this week scrap fuel surcharges for domestic flights for the first time since late 2009 after fuel buying costs fell below a government-set level, the civil aviation authority said on Tuesday.

4 Feb 2015 - 10:39pm