Citic Securities has announced that its chairman and Communist Party committee head, Wang Dongming, will retire and be replaced by a senior executive at the company, Caixin reported. Wang has been at the company since it was established in 1995, and served as the firm’s chairman since 2002, driving expansion as part of a pledge […]
Category: Business Practice
Dragons in Diamond Village
Purchases on Alibaba’s online retail platforms rose 50% over the previous year to US$14.3 billion on Tuesday’s Singles’ Day shopping event, The Guardian reported, citing preliminary sales figures from the company. The figure was boosted this year by adding sales from new channels including the e-commerce firm’s affiliates and investees, such as brick-and-mortar electronics retailer […]
Mounting credit losses may threaten China’s smaller, unlisted banks, closure of which could damage lending to the small and medium-sized enterprises tasked with driving economic growth, South China Morning Post reported, citing banking sector analysts. Credit losses have almost doubled between 2013 and 2014 and continued to mount in the first half of this year, said […]
China’s Ministry of Industry and Information Technology has castigated 21 Chinese technology companies including Baidu, 360, Huawei, Netease and Sina for producing applications found to forcefully promote undesired products, contain security flaws or violate user privacy buy collecting personal information without consent, AllChinaTech reported, citing a widely circulated denouncement from the ministry. Many of China’s […]