China

Microsoft to close MSN service in China by October 31

Microsoft to close MSN service in China by October 31Beijing: Microsoft plans to close its Windows Live Messenger (MSN) service in Chinese mainland by October 31, amid a crackdown by authorities against the world's largest software firm over anti-monopoly violations.

China launched the anti-monopoly probe against Microsoft alleging that the company may have broken laws regarding compatibility and documentation authentication for its Windows OS and MS Office.

China slaps $201 mn fines on 12 Japanese auto makers

China slaps $201 mn fines on 12 Japanese auto makersBeijing - Continuing with its crackdown on multinationals over anti-monopoly violations, China on Wednesday slapped USD 201 million fine on 12 Japanese auto parts suppliers accusing them of conniving to raise prices.

A total of 12 Japanese auto parts suppliers have been fined 1.24 billion yuan (about USD 201 million) due to a price monopoly, China's price regulator, National Development and Reform Commission (NDRC), said in a statement.

China to spend $1-bn on massive Caribbean resort

China to spend $1-bn on massive Caribbean resortChinese investors are to plunge more than US$1 billion into developing Antigua and Barbuda`s first mega-resort, creating 1,000 jobs for the tiny cash-strapped nation.

Construction on the mammoth 1,600-acre (647-hectare) multi-hotel, residential and commercial project is slated to begin early next year.

The `Singulari` scheme -- 50 per cent bigger than the regionally-heralded Baha Mar resort under way in the Bahamas -- is being lauded as a major feather in the East Caribbean country`s tourism cap.

Foreign investment falls sharply in China in July

foreign-investments-ChinaBeijing: Amid a crackdown on a host of MNCs over alleged violations of the anti-monopoly laws, foreign investments into China slumped in July by 16.95 percent from a year earlier to USD 7.81 billion, the government said Monday.

The sharp decline, resulting in a two-year low figures, was in contrast with a minor 0.2-percent increase seen in June, the Ministry of Commerce (MOC) said.

Constant reforms helped China remain the biggest recipient of foreign direct investment (FDI) in the last three decades due to liberal investment environment despite being a Communist nation.

China's bad bank loans climbs to $112.84 billion

China-bad-bankBeijing: The non-performing loans for commercial banks in China climbed to USD 112.84 billion in the last four months, registering a increase of 1.08 percent, and sparking concerns a slow economy could weigh on banks.

By the end of June, non-performing loans in the banking sector stood at 694.4 billion yuan (USD 112.84 billion), a jump of 48.3 billion yuan from the previous quarter, according to a report released by China Banking Regulatory Commission.

The regulator said the banks' credit risks were slightly up but the quality of their credit assets remained generally stable.

Xi touted as new Deng Xiaoping by Chinese official media

Xi JinpingBeijing : As President Xi Jinping consolidated his power to emerge as a strong reformist leader, China's official media has started comparing him with late Deng Xiaoping, who had overturned Mao Zedong's rigid Communist ideology.

Xi identified with the political legacy of Deng, said an editorial, published by the overseas edition of the official People's Daily, the mouthpiece of the ruling Communist Party of China (CPC).

It is the second commentary which has compared Xi's leadership to that of the late Deng, regarded as a paramount leader, ahead of his 110th birth anniversary on August 22.

China's Xi to visit India, Pakistan, Sri Lanka

Xi JinpingBeijing: Chinese President Xi Jinping plans to visit India, Pakistan and Sri Lanka in the coming weeks and his programme is being coordinated with the governments of the three countries.

While Chinese officials maintain that dates are being finalised, Pakistan daily Dawn today reported that Xi will be visiting the country later this month to lay foundation stone for some mega projects.

However officials say that it could be some time next month as dates are being worked out in coordination with the three countries.

It may be that Xi will travel to Pakistan, go to India and later Sri Lanka, according to indications.

Microsoft unveils Xbox in China after 14 years ban

Microsof XboxBeijing: Software giant Microsoft unveiled it reinvented Xbox videogame console in potentially vast Chinese market after a ban of 14 years despite facing probe over business practices in the country.

Yusuf Mehdi, chief marketing and strategy officer for Xbox said the new gaming console, the Xbox One, will be available in China in September.

China's Ministry of Culture together with seven other ministries banned the manufacture and sale of all game consoles in China in 2000.

Worst economic slowdown has ended in China: US

Worst economic slowdown has ended in China: USBeijing: China has lived through worst economic slowdown due to its determination to deepen reforms in the world's second largest economy, prominent US economist Stephen Roach said Wednesday.

"I am hopeful that the worst of the slowdown has now passed," said Roach, former chief economist of Morgan Stanley.

Speaking in Beijing during the launch of his new book Unbalanced: The Codependency of America and China, Roach said encouraging breakthroughs have been made in pushing reforms ahead, sate-run Xinhua news agency reported.

China airline tests Wi-Fi on flight

China-Eastern-AirlinesBeijing: A leading Chinese airline Wednesday tested a programme to allow passengers to use in-flight Wi-Fi, paving the way for the technology's application for the first time in China's booming aviation market.

The satellite-based Wi-Fi service was made available on a flight operated by China Eastern Airlines, the first test of the service on a Chinese commercial flight.

The test service was launched on an Airbus A330 servicing the Shanghai-Beijing route, and the first trial flight took off today morning, state-run Xinhua news agency reported.

Internet mobile users in China surpass computer ones

Internet mobile users in China surpass computer onesBeijing, July 22 : The number of people who use mobile to surf internet in China has surpassed the number of people using computers to go on web, says an industry report by the China Internet Network Information Center .

The report also suggests that the number increased by 14.42 million. Now, 83.4 percent of internet users go online via mobile devices.

According to China Daily, it was the first time that the number of internet mobile users had surpassed the ones using computers.

Huawei achieves H1 growth of 19% at $21 bn

Huawei Beijing: Sales revenue of China's telecom major Huawei has reached over USD 21 billion in the first six months of this year, a 19 percent increase compared over the same period last year, the company announced here on Monday.

The Shenzhen based firm, in a statement, said that in the first six months of this year, Huawei generated sales revenue of RMB 135.8 billion (USD 21.85) an increase of 19 percent year-on-year with an operating margin of 18.3 percent.

China's economic growth picks up in first half

China's economic growth picks up in first halfBeijing - China's economy picked up pace notching up 7.4 percent year on year growth in the first half of 2014, the National Bureau of Statistics (NBS) said today.

Growth of the second largest economy in the second quarter stood at 7.5 percent, picking up from the 7.4 percent expansion in the first quarter.

"The Chinese economy showed good momentum of stable and moderate growth in the first half," NBS spokesman Sheng Laiyun told media here today.

Putin blames west for Ukrainian policies, praises Russia- China relations

Vladimir-PutinBeijing, July 2 : Russian President Vladmir Putin said in a statement that Ukrainian developments were a manifestation of the West which is trying to control Moscow, and added that relations between Russia and China are an example of cordial international relations.

According to the Xinhua, Putin's statement came just hours after the Ukranian President Petro Poroshenko announced that the ceasefire with Russian rebels in the East would be ended.

Poroshenko's decision to take military and political action against Russian militants was a result of outside pressure, said Putin.

India, China looking for much wider engagement: Ansari

Mohammad Hamid AnsariBeijing: India and China are working on developing a much wider engagement as the two neighbours have chosen the "wise way" of living with each other, Vice President Hamid Ansari said today. He said as India and China discover commonality of interest in various fields, they are looking for ways to further their relationship.

Referring to the presence of nearly 10 thousand Indian students in China and 50 companies operating here, Ansari said this is the beginning of a much wider engagement which India looks forward to.

Vice President Hamid Ansari meets Chinese Premier Li Keqiang

Hamid-Ansari-Li-KeqiangBeijing, June 28 :Vice President Hamid Ansari today met Chinese Premier Li Keqiang here at the Great Hall of the People as part of his ongoing trip to China.

The Chinese Premier also met with the Union Minister for Commerce and Industry Nirmala Sitharaman and other Indian officials, who were part o the delegation.

Vice President Hamid Ansari today visited the Great Wall of China as part of his ongoing bilateral visit to China.

The Vice President also attended the trilateral Summit Meeting to commemorate the 60th anniversary of the Panchsheel treaty at Beijing today.

Wang's trip to India is of great significance: China?

Wang's trip to India is of great significance: China?Beijing: China today said Foreign Minister Wang Yi's just concluded visit to India is of "great significance" and sent out a message that Chinese leaders pay high attention to bilateral ties and their mutual interests far outweigh disputes.

"From this visit, we know that Sino-India relation is now in a new age of gearing up," Chinese Foreign Ministry spokesperson Hua Chunying told a media briefing here.

ZTE plans to open handset R&D centre in India

ZTE plans to open handset R&D centre in IndiaShanghai: Betting big on the burgeoning affordable handset market in India, Chinese telecom major ZTE today said it plans to set up a new R&D centre dedicated to mobile phones.

The firm will also launch six new smartphones this year to tap the multi-billion dollar opportunity in India.

ZTE will price the smartphones between Rs 7,000 to Rs 18,000 catering to entry, mid and high-end segments.

China's economy to slow down to 7.6% this year: World Bank

World-BankBeijing: The Chinese economy will grow at 7.6 per cent this year, a notch lower than last year's 7.7 per cent, and the trend is likely to continue next year as well, a World Bank Economic update said today.

China's growth will moderate over the medium term as the economy continues to rebalance gradually, it said.

Growth is expected to slow to 7.6 per cent in 2014, and 7.5 per cent in 2015, from 7.7 per cent in 2013, it said.

"The rebalancing will be uneven reflecting tensions between structural trends and near term demand management measures," said Chorching Goh, Lead Economist for China.

Intel's gesture control promises hands-free life

INtelTaipei: US computer chip giant Intel said its gesture-controlled technology could soon become part of everyday life as it showed its vision of a no-touch lifestyle in Taiwan on Thursday.

Its stand at Computex, Asia's largest technology trade show, recreates a living space centred around a kitchen, illustrating how sticky fingers on screens and recipe books could be a thing of the past.

An actress with messy hands from cooking clicked through icons and apps and scrolled through cookery pages on a large monitor using just hand motions from around 12 inches (30 centimetres) away.




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