China’s second largest mobile operator, China Telecom, broke the record for the world’s biggest listing so far this year, with a 5.7% jump above its offer price as it debuted in Shanghai on Friday, reports Bloomberg. Shares opened at RMB 4.79 ($0.75) on Friday, compared with the listing price of RMB 4.53. That exceeded the […]
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Chinese offshore oil giant CNOOC is planning to develop onshore solar and wind farms as part of its diversification away from oil and gas, reports the South China Morning Post. The company has already made a foray into offshore wind power. CNOOC was actively pursuing renewable energy projects with a goal to build up annual […]
Projects supported by special Chinese government bonds will see an increase in scrutiny, reports Caixin. According to a senior official at the Ministry of Finance, regular checks on the use of bond funds will take place moving forward. Fund allocations will be suspended for special bond projects that deviate seriously from their performance targets, Vice […]
China’s law makers voted to adopt a new piece of legislation on personal information protection on Friday, reports Xinhua. The law will take effect on Nov. 1. The new regulation states that, when pushing information and business marketing to individuals through automated decision-making, personal information processors should provide options that don’t target personal characteristics at […]
This year will see a hastening of reforms to China’s tax system in the hopes that it will help policymakers’ initiatives for ushering in the common prosperity called for by President Xi Jinping this week, reports China Daily. Tax reforms will focus on improving local government levies and raising the proportion of direct taxes like […]