China to have 4,000 shopping centres by 2015

shopping-centreBeijing, July 4 : China is all set to witness the number of its shopping centres reaching 4,000 by 2015, an official with the China Chain Store & Franchise Association (CCSFA) said Thursday.

The country's retail chain stores improve management efficiency, expand operation channels and integrate online and offline business models, Xinhua reported.

According to the statistics of the CCSFA, the country's official representative of retailing and franchise industry, there were 3,000 shopping centres across the country in 2012, with a gross floor area of 200 million square metres.

Would love to perform with my cousin: Parineeti Chopra

Parineeti-ChopraMacau, July 4 : Bollywood actress Parineeti Chopra says she would love to perform on stage with her star cousin Priyanka Chopra.

"I would love to perfome with her. She is one of the best dancers we have," Parineeti of "Ishaqzaade" fame told IANS.

The 24-year-old, who is here for the 14th International Indian Film Academy (IIFA) awards, says she grew up watching Priyanka and other celebrities attending award functions and is now thrilled to be part of the festivities.

Abhishek, Shahid leave handprints at IIFA

Abhishek-Shahid-KapoorMacau, July 4 : Bollywood actors Abhishek Bachchan and Shahid Kapoor left handprints in a special cement mould as a part of the 14th International Indian Film Academy (IIFA) awards and celebrations, which kick started here Thursday.

Abhishek, who will also perform at the awards function Saturday after a gap of few years, was looking forward to the function.

China's non-manufacturing PMI drops

China-non-manufacturingBeijing, July 3 : The purchasing managers' index (PMI) for China's non-manufacturing sector stood at 53.9 percent in June, down from 54.3 percent in May, according to official data released Wednesday.

A PMI reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.

The statistics were jointly released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing (CFLP), reported Xinhua.

Chinese lender becomes world’s biggest bank

Chinese lender becomes world’s biggest bankThe Industrial and Commercial Bank of China has emerged as the biggest bank in the world indicating that the financial centre in the global economy is shifting towards east.

In terms of the balance sheet strength, the Industrial and Commercial Bank of China emerged on the top of the list of global banks with $160.6 billion in tier one capital. The bank recorded an annual profit of $49.1bn in 2012. The new report by the Banker magazine also showed that there were four state-owned Chinese banks in the top ten.

Chinese central bank to ‘fine-tune’ policy amid liquidity crunch

Chinese central bank to ‘fine-tune’  policy amid liquidity crunchThe People's Bank of China, China's central bank, has indicated that the country might have to `fine tune' its monetary policy as the economy faces liquidity crunch.

The remarks indicate that the authorities in the country are more likely to loosen monetary policy to improve the liquidity position in the world's second largest economy. Following the monetary policy committee's second-quarter meeting in Beijing, the central bank indicated that the country must be ready for fine tuning its monetary policy.

General Motors recalls 231,000 SUVs over fire risk

General Motors recalls 231,000 SUVs over fire riskBeijing, June 19 - US General Motors Co. is set to recall about 231,000 older SUVs over fire risks and has urged owners to park them outside garages until they are repaired, a media report said.

The Detroit-based automaker agreed to recall 193,000 2006-2007 Chevrolet Trailblazer, GMC Envoy, Buick Rainier, SAAB 9-7x, Isuzu Ascender and 2006 Chevrolet Trailblazer EXT and GMC Envoy XL in the US, reported Xinhua.

The recall also includes 3,546 in Canada, 4,876 in Mexico and 30,000 outside North America, the Detroit News said.

China's FDI edges up

China-FDIBeijing, June 18 : China's actual use of foreign capital in May stood at $9.26 billion, up 0.29 percent year on year, the commerce ministry said Tuesday.

This is the fourth straight monthly increase since February, when China reported a FDI recovery after declining for eight consecutive months since June of 2012, reported Xinhua.

During the first five months, the inbound investment increased 1.03 percent from a year earlier to $47.6 billion, data showed. (IANS)

China builds world's fastest supercomputer

tianhe-2-supercomputerBeijing, June 17 : China Monday announced that it has built the world's fastest supercomputer which is capable of performing 33.86 quadrillion operations per second, surpassing the US Titan supercomputer.

The Tianhe-2 has a peak performance speed of 54.9 quadrillion operations per second, according to the National University of Defence Technology, which built the computer, reported Xinhua.

The computer's predecessor, the Tianhe-1A, was the world's fastest supercomputer from November 2010 to June 2011, when it was surpassed by Japan's K computer.(IANS)

Chinese banks see smaller forex surplus

Chinese-bankBeijing, June 17 :  Chinese banks bought more foreign currency from clients than they sold in May, although the surplus was less than that of previous months, indicating relieved pressure from capital inflows.

The forex surplus hit $17.2 billion in May, marking the ninth straight month of surplus in bank-to-client forex transactions, the State Administration of Foreign Exchange (SAFE) said.

The surplus was far less than those recorded in the first four months of the year, coming in at roughly half of the $34.3 billion surplus recorded in April, reported Xinhua.

China’s Ansteel expecte iron ore prices to fall during second half

China’s Ansteel expecte iron ore prices to fall during second halfChina's fourth-largest steelmaker, Ansteel has indicated that it expects the price of iron ore to fall during the second half of 2013 due to lower demand for steel in the world's second largest economy.

China to get 100 Airbus planes this year

China to get 100 Airbus planes this yearBeijing, June 8 : Aircraft giant Airbus will deliver over 100 passenger planes to China this year, the company said Saturday.

The market share of Airbus in China's wide-bodied aircraft market has now reached more than 60 percent, with over 110 Airbus A330 planes in operation, Xinhua cited the company as saying.

Fabrice Bregier, Airbus president and CEO, attributed the company's achievements in China to a strategy of carrying out extensive and in-depth cooperation with the country's aviation industry.

China to protect investors' interests: President Xi

Xi-JinpingBeijing, June 6 : President Xi Jinping promised to protect the lawful rights and interests of investors as hundreds of businessmen gathered in the western city of Chengdu Thursday to discuss China's economic prospects.

In a message to the 2013 Fortune Global Forum, Xi told businessmen that China is a safe haven for investment opportunities, reported Xinhua.

"The Chinese government will, as always, protect the lawful rights and interests of investors, strengthen the protection of intellectual property rights and provide quality service to foreign companies," Xi wrote in the letter.

Eriksson new coach of Guangzhou R&F

Sven-Goran-ErikssonGuangzhou, June 5 : Chinese Super League club Guangzhou R&F officially appointed former England manager Sven-Goran Eriksson as the club's new coach until the end of 2014.

The club was reported to ink a contract of more than 2 million euros, and a one or two years optional clause, reports Xinhua.

"Mr. Eriksson is one of the most famous coaches in the world, we believe with his ability and experience we could do better in Chinese Super league," Lu Yi, vice president of the Chinese club said here Tuesday.

Chinese shares fall over recovery concerns

Chinese shares fall over recovery concernsShare markets in China and Hong Kong continued to fall on concerns that the world's second largest economy has only made a fragile recovery following contrasting manufacturing surveys and tightened monetary supply in the economy.

China to collect more accurate investment data

China-FlagBeijing, June 3 : China will start a pilot reform of data collection relating to fixed asset investment in 2013, so as to make economic statistics more reliable, the China Business News reported Monday.

The first pilots will be conducted in Jincheng of Shanxi province, Xi'an of Shaanxi province, Wuxi of Jiangsu province and Qiandongnan of Guizhou province, said Ma Jiantang, director of the National Bureau of Statistics (NBS), without specifying when they will begin.

The NBS plans to better monitor the data source to reveal trustworthy figures that can not be manipulated by local governments, reported Xinhua.

112 killed as fire ravages China slaughterhouse

China-fireBeijing, June 3 :  At least 112 people were killed and 54 injured Monday when a major fire engulfed a slaughterhouse in China's Jilin province, said authorities.

The fire broke out around 6 a. m. in the slaughterhouse owned by the Jilin Baoyuanfeng Poultry Company in Mishazi township of Dehui city, about 100 km northeast of the provincial capital Changchun, reported Xinhua.

Over 300 workers were in the plant when the fire began, said survivors who added they heard a sudden bang and then saw dark smoke fill the premises.

About 100 workers managed to escape from the plant, the gate of which was locked when the fire broke out.

China's non-manufacturing sector shrinks

non-manufacturingBeijing, June 3 : China's non-manufacturing sector shrank slightly in May, according to new data released Monday.

The purchasing managers index (PMI) for the non-manufacturing sector stood at 54.3 percent in April, down from 54.5 percent for the previous month, the National Bureau of Statistics said in a statement.

A PMI reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction, reported Xinhua.(IANS)

China’s PMI rises to 50.8 in May

China’s PMI rises to 50.8 in MayAccording to the latest figures released, China's manufacturing activity has accelerated during the month of May indicating that the world's second largest economy might be recording stable recovery.

Anti-smoking clinics fail to help China kick the habit

Anti-smoking clinics fail to help China kick the habitBeijing, May 30 : In a country of 300 million smokers and where two trillion cigarettes are produced every year, "smoking cessation clinics" seemed to be a promising business. But the results such clinics have produced show how far off the mark such an effort was.

According to the latest figures, 600,000 people develop lung cancer every year in China, accounting for one-third of the world's total.

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