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BMW, China’s Brilliance extend contract term

BMW, China’s Brilliance extend contract term

German car maker BMW Group and its Chinese partner Brilliance Auto have agreed to extend the term of their joint venture contract to 2028. The contract extension will lay a…

China UnionPay issues 1st credit card in Africa

China UnionPay issues 1st credit card in Africa

China UnionPay (中国银联), China’s leading bankcard network operator, announced on Thursday that it has issued its first credit card in Africa, further enlarging its global footprint. UnionPay International, China UnionPay’s…

China’s SOEs more profitable in 1H

Profits of China’s state-owned enterprises (SOEs) grew faster in the first half of this year from a year earlier. Combined profits of SOEs administered by both central and local authorities…

China’s LED industry brightens up

China’s growing demand for greener illumination gave the country’s light emitting diode (LED) makers an easy time this year with good profits in the first half of 2014. Of 38…

China contributes $41 bln to contingent reserve

The BRICS countries are a step closer to having a bigger say in the world’s financial system, after it announced the establishment of the BRICS New Development Bank. The BRICS…

Chongqing Cross-Border E-Commerce Platform develops well

23 days on from the installation of the Chongqing Cross-Border E-Commerce Service Platform, completed transactions have already numbered 6,359. The financial transaction quantity has amounted to over 2.0525 million yuan…

BRICS voices disappointment with non-implementation of IMF reforms

BRICS voices disappointment with non-implementation of IMF reforms

The world’s leading emerging economies on Tuesday expressed their disappointment with the failure to implement the 2010 International Monetary Fund (IMF) reforms. “We remain disappointed and seriously concerned with the…

China’s GDP grows 7.4 pct in H1

China’s GDP grows 7.4 pct in H1

China’s economy grew 7.4 percent year on year in the first half of 2014, the National Bureau of Statistics (NBS) announced on Wednesday. Growth in the second quarter stood at…

China’s industrial production recovers in H1

China’s industrial production recovers in H1

China’s industrial production growth quickened in the first half of 2014, showing signs that the world’s largest “workshop” is warming up. The National Bureau of Statistics (NBS) said on Wednesday…

BRICS leaders hail outcome of first-day summit after 4 major deals signed

BRICS leaders hail outcome of first-day summit after 4 major deals signed

Leaders of BRICS countries hailed the outcome of their first-day summit on Tuesday, when four major agreements were signed in key economic areas. The BRICS, which groups Brazil, Russia, India,…