admin August 13, 2017 0 comments

Bank official says equity investment will pave way for B&R projects

Equity and debt financial instruments should play a major role in plugging the financing gap for projects in the Belt and Road initiative, the vice-governor of the central bank said on Saturday. “There is a huge funding demand to be met in the coming years, and equity investment should be
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admin August 13, 2017 0 comments

China delivers promise on reforms

BEIJING – With top-level design and solid implementation, China has made significant progress in carrying out hundreds of reforms that have improved the country’s economic and social outlook. Thanks to environmental reform efforts implemented since 2013, the average annual density of fine particulate matter PM 2.5 dropped more than 30 percent
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admin August 9, 2017 0 comments

With $1b war chest, Ping An set to become AI innovation giant

Chinese financial giant Ping An Insurance (Group) Co will spend more than 7.77 billion yuan ($1.16 billion) on technology research and development this year, and artificial intelligence will be the focus of that R&D, according to a senior executive of the company. “We want to build more platforms in finance
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admin August 9, 2017 0 comments

AI startups win record 19.3 billion yuan in financing

China’s artificial intelligence-focused startups received record financing of 19.3 billion yuan ($2.87 billion) in the first half of 2017, with mid-and late-stage deals dominating across the period, according to a recent report. The same report predicted that the industry is very likely to “enter an adjustment period” in the next
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admin August 9, 2017 0 comments

IPO set to ride into history books

Changzhou Youon poised to be first listed bike-sharing company in China Subscriptions for the initial public offering of Changzhou Youon Public Bicycle System began on Monday, in what will be the first listed bike-sharing company in China after it floats on the Shanghai Stock Exchange. According to its prospectus, Youon
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admin August 9, 2017 0 comments

Didi and Careem to ride in 2 markets

China’s ride-hailing giant Didi Chuxing announced on Tuesday that it will invest in Dubai-based ride-hailing platform Careem, as part of a new partnership agreement between the two companies, to grow their networks in the Middle East and North Africa. It marks Didi’s latest move to strengthen the company’s global presence,
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admin August 2, 2017 0 comments

Citi: Financial market set to match US size

The Chinese financial market size will match that of the United States in 2025, according to a Citigroup Inc report. More than $3 trillion in foreign capital will enter the Chinese financial market, it said. Liu Ligang, chief China economist of Citigroup, said in the report that China has been
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admin August 2, 2017 0 comments

Regulator sifts more IPO applications on quality ground

The Chinese securities watchdog rejected 43 of 329 companies’ applications for initial public offerings (IPO) in the first seven months of the year, sending the veto rate to 13.07 percent from last year’s 2.21 percent, China Securities Journal quoted statistics as saying. Analysts said the committee of China Securities Regulatory
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admin August 2, 2017 0 comments

China should boost digital economy: Premier Li

BEIJING – China should use emerging information technology including cloud computing and internet of things to shore up the digital economy, Chinese Premier Li Keqiang said. “The digital economy has enormous potential,” Li said at a seminar on Monday, citing rapid growth in information consumption, mobile payments and e-commerce. “Traditional
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admin August 2, 2017 0 comments

Alibaba, Tencent eye stake in China Telecom

China United Network Communications Group Co, the country’s second-largest mobile carrier by subscribers, has set up two operating centers to deepen cooperation with Alibaba Group Holding Ltd and Tencent Holdings Ltd. The move signals that Alibaba and Tencent are almost certain to become shareholders of China Unicom, as the State-owned
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admin July 24, 2017 0 comments

When man’s word is machine’s command

Shortly after reaching home from a long day’s work, Ma Bin, 30, a software engineer in Beijing, walks into his flat’s living room and, in Alibaba’s “Open Sesame” style in One Thousand and One Nights, says to a remote controller on the sofa, “Let’s Talk”. Presto, his internet-connected TV “hears”
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admin July 24, 2017 0 comments

AI development plan shows China’s vision

BEIJING — China’s plan for artificial intelligence (AI) development, issued by the State Council Thursday, is a major step for carrying out the innovation-driven development strategy and making the country a global leader in science and technology, said Wang Zhigang, vice minister of science and technology. Since the concept of
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