JP Morgan Chase Co. has been named by the Chinese government as the national clearing house for the yuan, Reuters reports, in an agreement made between the U.S. Federal Reserve and the People’s Bank of China. Following a strategic and economic dialogue between the U.S. and China in 2016, both countries resolved to pick a […]
Category: Brief
Quarterly profit and revenue of Chinese media giant Baidu Inc. surpassed market estimates, Reuters reports, with shares jumping 5% to $236.4 in response. In a report released on Tuesday, Baidu attributed the growth to strong performance of its search and newsfeed services. Revenue from this sector rose 26.3% to 20.4 billion yuan ($3.22 billion). According […]
Chinese prosecutors have charged the former Party chief of one of China’s largest cities with bribery, and will soon be pressing charges against another former top official, according to Reuters, citing state media reports. The filing of charges against Sun Zhengcai, who until his removal from office in July was the head of the southwestern metropolis […]
A year of negotiations between the iconic production company and China’s leading commercial conglomerate Alibaba has resulted in an agreement for over 1000 Disney films and programmes to be shown via Alibaba’s video-streaming service, Youku, according to Caixin Global. Previous attempts to strike a deal were interrupted by regulatory restrictions on behalf of the Chinese […]
A duty-free store at London’s Heathrow Airport has issued an apology on Chinese social media for treating Chinese travelers differently to its other customers during a recent discount campaign, Caixin reports. World Duty Free Group offered a voucher for customers who spent more than £250 at its eight stores at the airport, but Chinese customers had to […]