|Top 10 Daily Business China News Alerts 04/22/2015|
|by Tom McGregor||Tue, Apr 21, 2015, 08:01 PM|
Stay Updated on Real China Business News at Real Time
1. An app pushes factories in China to cut pollution
OXFORD, England — When environmentalist Ma Jun set out to tackle pollution from Chinese industries, it seemed a near-impossible task. Taking polluting factories to court was difficult. Factory owners were powerful, and the incentives were stronger to cut environmental corners than comply with regulations.
2. Yum CEO says China business mending, sees strong year-end finish
Yum Brands Inc, owner of KFC and Pizza Hut chains, on Tuesday said business in its biggest market China is recovering from a meat scare at one of its minor suppliers and the division would finish the year strong. Yum's comments on China, its No. 1 market for revenue and profit, sent company shares up 4.5 percent to $84.52 in extended trading.
1. Tea Tuesdays: Tea, Tao and Tourists — China's Mount Hua Is Three-Part Harmony
Imagine yourself clinging to a cliff face with nothing but uneven, worn wooden planks and chains to keep you from plummeting 7,000 feet to your untimely demise. Don't worry: You can rent a little red safety harness for $5. No one will make you wear it, though. A foot-wide path made of wooden planks winds around the surface of a cliff. Climbers harness themselves to a wire and grab the chain to keep from falling.
2. Bank of China’s Xu Chen on China-US economy
China General Chamber of Commerce held a finance and real estate forum Tuesday. A number of U.S. and Chinese executives gathered to discuss how the two countries can establish closer ties and work on more projects related to finance and real estate investments. CCTV America interviewed Xu Chen, the CEO of Bank of China USA.
3. China's ICBC to provide $4.3 billion in financing for Pakistan power projects
BEIJING: Industrial and Commerical Bank of China (ICBC), the world's biggest lender by assets, said on Tuesday it has agreed to provide $4.3 billion in financing for energy and electricity projects in Pakistan. The four power projects, all located in the China-Pakistan Economic Corridor, are major infrastructure projects for China's "One Belt, One Road" initiative, the bank said in a statement sent by email.
4. Infonetics: Mobile Infrastructure Spending in China Jumped 51 Percent in 2014
CAMPBELL, CA--(Marketwired - April 21, 2015) - Technology market research firm Infonetics Research, now part of IHS Inc. (NYSE: IHS), today reported that mobile infrastructure spending soared in 2014, led by W-CDMA network expansion at China Unicom and robust TD-LTE eNodeB deployments at China Mobile. "Looking at mobile capex, China delivered again in 2014 via a balancing act that had China Telecom cutting capex by nearly a third, China Unicom increasing spending by almost a quarter and China Mobile shelling out more than the two combined," said Stéphane Téral, research director for mobile infrastructure and carrier economics at Infonetics Research, now part of IHS.
5. Telecoms: China Mobile Turns Rocky Corner On 4G
Bottom line: A recent stabilization of China Mobile’s profits and revenue per user could be short-lived, and declines could resume and accelerate later this year as its rivals ramp up their 4G promotions. Telecoms juggernaut China Mobile (NYSE:CHL) passed an important milestone in its latest quarterly results, posting its first increase in years for average subscriber revenue on strong gains for its new 4G service. But that milestone was partly offset by weakness in data services, its biggest future growth engine, hinting that the turning point for average revenue per user (ARPU) may be short lived.
6. House of Fraser plots first three stores in China
HOUSE of Fraser is poised to make its first foray into China, the department store chain said yesterday as it posted record full-year underlying sales. The retailer was snapped up last year by Chinese conglomerate Sanpower through its Nanjing Cenbest subsidiary in a £480m deal.
7. China to construct airport at Pamir plateau of Xinjiang, 3,200 ft above sea level
ISLAMABAD: China has revealed plans to construct an airport on the strategically located Pamir plateau of Xinjiang, close to its border with Pakistan-administered Kashmir (PaK). The airport will be built 3,200 ft above sea level and will be the first of its kind on a high plateau in the city of Tashkurgan, providing access to the remote area, according to the Civil Aviation Authority (CAA) of China.
8. Huawei targets July launch for public cloud service in China
SHENZHEN — Chinese telecommunications equipment maker Huawei Technologies said yesterday that it would launch its public cloud computing services for corporate customers in July, becoming the latest player to enter the fast-growing market in Asia’s largest economy. At Huawei’s Global Analyst Summit in Shenzhen, the company’s rotating chief executive Eric Xu said: “We hope that once it is launched, we can bring some surprises to all our enterprise customers.”