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China remains biggest holder of U.S. Treasury securities

[ 2016-01-22 11:14 ]
China increased its holdings of US Treasury securities by$9.7 billion last November, which increased its total holding to$1.26 trillion, maintaining its status as America’s largest foreign creditor, according to statistics released by the U.Department of Treasury Tuesday.Since last January, China had cut its holdings for two consecutive months before it purchased more in four months afterwards.Treasury securities is important for China.Japan, as the second largest holder, cut its holdings by$4.3 billion to$1.14 trillion, according to the statistics.

Chinese COSCO's Bid for Acquisition of Piraeus Port Accepted

[ 2016-01-21 16:20 ]
COSCO Group's improved bid for the acquisition of Greece's Piraeus port has been accepted by the Greek privatization fund.The Chinese group submitted an improved bid on Wednesday, offering nearly 370 million euros or 400 million US dollars for a 67 percent stake in Piraeus Port Authority.The Chinese company will get a majority stake of 51 percent in the first phase of the deal, and the rest of the shares will be handed over in five years.

 Stocks see biggest two-month rally on back of stimulus buzz

[ 2016-01-20 16:10 ]
Chinese stocks on Tuesday rallied with the biggest gain in two months as the weaker-than-expected economic data sparked fresh expectation for further government stimulus policies.We believe consumption growth will remain a bright spot, given Chinese middle-class consumption upgrading, although it is likely to moderate as wage growth and household income slow along with the rest of the economy, Chang said.

 Crude shock lands Chinese oil majors on a slippery slick

[ 2016-01-19 16:52 ]
The year-end retreat by China Investment Corp, the country's sovereign wealth fund, from Canada's mining and oil-and-gas sectors, has raised concerns that past overseas investments of State-backed oil companies may prove duds.Due to the prolonged slump in crude oil prices.Global oil and gas investments are expected to fall to their lowest in six years in 2016 to$522 billion, following a 22 percent fall to$595 billion in 2015, according to Oslo-based consultancy Rystad Energy.

Baidu CEO apologizes to public for online forum scandal

[ 2016-01-18 15:57 ]
Last week was a special time for Baidu…we will reflect deeply in a bid to turn this crisis into an opportunity, Li was quoted as saying in the report.The[operation of]Baidu Tieba, online forums run by Baidu, will only be open to authoritative public service organizations rather than to those seeking business opportunities, according to the company's statement.It also ordered Internet regulators in Beijing, where Baidu is headquartered, to punish the company.

EU proposal on China's MES likely to come at second half of 2016: EC

[ 2016-01-14 16:10 ]
BRUSSELS, Jan.13--The proposal on the European Union(EU)whether to grant China the Market Economy Status(MES)will only be likely to come at the second half of this year, according to the European Commission(EC)on Wednesday.The commission is set to offer a proposal to European Council and European Parliament on whether to grant China MES, a move for the bloc to change the method to calculate its dumping rates imposed on imported Chinese product after December.An impact assessment of changing market economy status for China was under way, the commission said.

 Mainland still the bright spot in bleak wage environment, says study

[ 2016-01-13 16:22 ]
Despite the uncertain economic climate, Chinese mainland employers are still more generous than their global peers when it comes to salaries, a new study said.Chief information officers working in multinational corporations are actively looking for opportunities with local Internet ventures, especially with the three biggest players, Baidu Inc, Alibaba Group Holding Ltd and Tencent Holdings Ltd, said Pang.

Universal salary increase in 2016? Unrealistic!

[ 2016-01-12 15:50 ]
It is unrealistic that the global wage will increase in 2016, an economist who does not want to be identified told Global Times.In terms of real salary increases, the global average is forecasted to be 1.7 percent, which is close to last year’s average of 1.5 percent.The anonymous economist told Global Times that indeed the growth rate of urban and rural income is higher than that of the GDP in recent years in China.As for whether Chinese workers will enjoy a salary increase in 2016, the economist said:"It is too soon to tell.".