Shanghai has pledged to step up policing its manufacturing sectors to curb prolonged payment cycles that affect thousands of supply-chain vendors, reports the South China Morning Post. Gu Jun, deputy secretary general of the municipal government and director of the city’s development and reform commission, told a press conference that a task force had been set […]
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A sweeping crackdown on unauthorized drone use in China is shaking the consumer market, reports Caixin. Hobbyists are facing fines as drone makers are reporting a sharp decline in sales. On social media, users have been posting copies of administrative penalty notices issued by police for “illegal flights,” typically carrying fines between RMB 200-500 ($29-71). In […]
Beijing has given the green light to an asset-restructuring deal involving the country’s largest oil refiner and a leading distributor of jet fuel, reports the South China Morning Post. This is part of continuing efforts to streamline operations of major state-owned juggernauts. China Petroleum and Chemical Corp, better known as Sinopec, and China National Aviation Fuel Group (CNAF) […]
The year began with a bang on the other side of the world—that is the US invasion of Venezuela and the kidnapping of its president who is now to be tried in New York on drug trafficking charges. And while this has nothing apparently directly to do with China, in fact there are several elements […]
Ikea will close seven of its 41 stores in mainland China, reports the South China Morning Post. This comes as the furniture retailer grapples with the country’s weak property market and low consumer spending, which have dampened demand for its goods. Following a comprehensive review, Ikea China said the seven stores would cease operations from February 2. These are located in Shanghai, Guangzhou, Tianjin, […]