Business

China vows countermeasures if U.S. puts new tariffs on Chinese goods

China's Commerce Ministry said Thursday that the country would have to take countermeasures if the United States imposes new additional tariffs on Chinese goods.

Huawei peaks list of China's top 500 private firms

China on Thursday unveiled its latest rankings for 500 largest private enterprises, with tech giant Huawei atop the list amid sound development of the country's private business.

Trump's tariffs to cost average U.S. household 580 USD: report

Tariffs imposed by the Trump administration amid its ongoing trade disputes with countries around the world are expected to reduce the average U.S. household's income by 580 U.S. dollars by 2020.

China to further ease market access in pilot free trade zones

China's State Council decided Wednesday to further ease market access by promoting separation of permits from business licenses in pilot free trade zones (FTZ).

Japan's major telecom operators reverse ban on selling Huawei gear

​Japan's three major telecommunication operators KDDI, Softbank, and DOCOMO have reversed their ban on sales of Huawei products.

China's robot market to top 8.6 bln USD in 2019: report

China's robot market is expected to reach 8.68 billion U.S. dollars this year, with an estimated average annual growth of 20.9 percent between 2014 and 2019, said a report by the Chinese Institute of Electronics.

China securities regulator issues fine to four rumormongers

China's securities regulator said four people have been fined for spreading rumors about the regulator's policies and tasks for this year.

Costco preparing to open its first store on the Chinese mainland

The world's second-largest retailer, Costco Wholesale, will open its first brick-and-Mortar store on the Chinese mainland in the Minhang District of Shanghai on August 27.
 

New Lingang area of Shanghai Free Trade Zone inaugurated

The new Lingang area of the Shanghai Free Trade Zone was inaugurated on Tuesday.

Huawei to launch mapping service for developers following Google ban

Huawei is to launch its own mapping service to offset the impact of the United States government's export restrictions that prevent the company from using Google's products and services.

Douyin and Tik Tok user spending hit record U.S. $11.7 million in July

China's short video app Douyin and its overseas version Tik Tok grossed 11.7 million U.S. dollars in user spending in July, an increase of 290 percent compared with the same time last year.

Huawei: U.S. decision against the company 'politically motivated'

​Chinese tech giant Huawei urged the U.S. to put an end to unjust treatment and remove it from the "Entity List" after the U.S. Commerce Department added another 46 Huawei affiliates to the "Entity List". 

U.S. Department of Commerce extends Huawei reprieve for another 90 days

U.S. Commerce Secretary Wilbur Ross said Monday that his department will grant another temporary reprieve for another 90 days to Chinese tech giant Huawei.

Chinese smartphone makers dominate global market share in Q2

The second quarter of 2019 was not the best time for smartphone makers. Only four brands among the top 10 – Samsung, Huawei, OPPO and TCL – attained year-over-year growth in Q2.

U.S. tariffs seen to push up prices, reduce profits: report

The recent increases in U.S. tariffs on imports are seen to be pushing up prices and reducing profits for American manufacturing and service firms, a report published by the Federal Reserve Bank of New York shows.

PBOC unveils LPR reform plan to cut real economy financing cost

China's central bank Saturday unveiled a plan to improve and reform the country's loan prime rate (LPR) mechanism in its latest efforts to cut financing costs for the real economy. 

China to meaningfully lower real interest rates through market-oriented reform

​China will take market-oriented reform measures to meaningfully reduce real interest rates and ease financing difficulties, the State Council's executive meeting chaired by Premier Li Keqiang decided on Friday.

Cathay Pacific announces personnel changes, CEO steps down

The Hong Kong-based airline Cathay Pacific announced major personnel changes in a statement. Rupert Hogg, Chief Executive Officer of Cathay Pacific, will step down and be replaced by Tang Kin Wing Augustus.

Netizens criticize Amazon for selling offensive Hong Kong T-shirts

Some netizens have revealed that the American e-commerce platform Amazon is selling T-shirts with designs and slogans in support of the violent protests in Hong Kong.

China's civil aviation sector sees steady growth in first seven months

China's civil aviation sector expanded at a steady rate in the first seven months of the year, official data showed Thursday.

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