Top 10 Daily Business China News Alerts 04/17/2015
by Tom McGregor
Thu, Apr 16, 2015, 08:40 PM
Stay Updated on Real China Business News at Real Time
1.40th anniversary of China-EU ties to be marked in 2015
Beijing and Brussels will hold a "strategic dialogue" to mark the 40th anniversary of diplomatic relationships, said a senior diplomat.State Councilor Yang Jiechi and Federica Mogherini, high representative of the European Union for foreign affairs and security policy and vice-president of the European Commission will meet in China in early May.
2.Solar-powered plane on round-the-world flight gets stuck in China
(CNN)The Solar Impulse 2, the experimental plane attempting to fly around the world without using a drop of fuel, has been grounded by the weather in China.What was supposed to be an overnight pit stop in the southwestern city of Chongqing has now stretched into a two-and-a-half week stay.
Netflix is joining the rush for a slice of China's fast growing entertainment industry.The incentive is obvious: China is the world's third largest market for entertainment and media, according to Pricewaterhouse Coopers, and could be worth as much as $214 billion by 2018.
Although China's economy has been leading the world in annualized growth since the days that mobile phones had retractable antennas, there have always been some aspects of the country's commercial and financial system that loudly broadcast the underlying illogic of a Communist Party's firm control of burgeoning capitalism. China's stock markets were one such venue where things just didn't add up...literally.
Editor's Note: In September 2014, while we were working on this story, a Pentagon spokesman emailed us to say:"The Department of Defense is confident in the ability of the defense industry to remain supplied with all necessary rare earths for U.S. defense acquisition programs. The Department continuously monitors and assesses its raw materials requirements, and if necessary, will again take action to ensure their availability to the defense industrial base."
4.The 5th Beijing International Film Festival Officially Kicks Off
The opening ceremony of the Beijing International Film Festival is to be held at 8:00pm.The festival has attracted 930 movies from 90 countries and regions to compete for the Tiantan Awards.French director Luc Besson will chair the awards jury, which also includes writers, producers, actors and others from America, South Korea, Brazil, Russia, and China.
With the dependence on the so-called "Iron Rice Bowl" - China's state-assured government assistance through life - many young people are turning to the private sector.The current generation is also said to be gravitating toward creating their own businesses.CRI's Yin Xiuqi has more.
Budget carriers and some cargo flights might soon be unable to operate from Shanghai as the city's principal airports in Pudong and Hongqiao come under increasing pressure from soaring traffic volumes, a senior industry official said Wednesday.Jiang Huaiyu, a director of the East China Civil Aviation Administration of China, said that low-cost, cargo airlines and private jets might soon be required to base themselves in either Nantong in Jiangsu Province, or Jiaxing or Ningbo in neighboring Zhejiang Province.
Ministry of Industry and Information Technology (MIIT) responded to Premier Li Keqiang's call to improve Internet services, saying it will urge companies to accelerate network speed and lower mobile Internet charges.The construction of 4G network and speed enhancement will be this year's key focus, said the Ministry in a statement released on its website on Wednesday evening.
8.China to enhance Xinjiang outward power transmission
The Xinjiang branch of the State Grid Corporation of China (SGCC) will invest 201.9 billion yuan (32.5 billion U.S. dollars) to improve the power grid in the region from 2016 to 2020, the company announced Monday.The move aims at improving power infrastructure in Xinjiang and better connecting the region's power grid with the rest of China in order to transmit more of Xinjiang's redundant electric power to other parts of the country, according to SGCC, China's top power distributor.