|Top 10 Daily Business China News Alerts 05/16/2015|
|by Tom McGregor||Wed, May 13, 2015, 10:03 PM|
Stay Updated on Real China Business News at Real Time
1. China Ranks Among the Most Important--Yet Most Challenging--Countries for Job Transfers, According to Cartus' Best Practices Report
DANBURY, Conn., May 14, 2015 /PRNewswire/ – Although China is one of the top destinations worldwide where companies are transferring employees, it is also one of the most challenging both for companies and transferees, according to a report just released by Cartus Corporation, a leading provider of global relocation services.
2. Bear in the China shop: Hockey’s bullish fantasy ignores the coming recession
The glass-half-full crowd, including our benighted Treasurer, need to wake up to the reality of China’s economic downturn, before it drags us into recession. If embattled Treasurer Joe Hockey is betting on China to deliver him from a fresh round of budget hell, new data from Australia’s biggest trading partner released yesterday showed he might have backed the wrong horse.
3. Lumber Liquidators Gets Nailed as It Suspends China-Made Flooring
Once again, Lumber Liquidators (NYSE: ) has bungled its response to the health-risk scandal involving its Chinese-made laminate flooring. Just as it took the flooring specialist 11 days to to the 60 Minutes news program alleging there were problems with formaldehyde exposure from its flooring, last week Lumber Liquidators belatedly suspended sales of all flooring sourced from China.
4. China Economy Loses More Steam in April, Further Stimulus Looms
China's money supply grew at its slowest pace on record and investment growth sank to its lowest in nearly 15 years as April data showed the world's second-largest economy was still losing momentum despite a concentrated burst of policy easing. Wednesday's data added to concerns that Beijing's growth target of around 7 percent for the year is already at risk, and reinforced views that authorities need to take bolder measures to head off job losses and debt defaults by local governments and companies.
5. China to boost Internet speeds, cut prices
China will accelerate development of its high-speed broadband networks to raise Internet speeds and cut prices, long bugbears in a country where many people still have no access to the web. Telecoms firms should make rapid moves to cut prices and increase urban broadband speeds by around 40%, according to a statement issued yesterday by China’s State Council, the country’s cabinet.
6. Modi arrives in China's Xian as part of tri-nation tour
Prime Minister Narendra Modi on Thursday reached the Chinese city of Xian on the first leg of his three-nation tour that will see him visiting China, Mongolia and South Korea. The Prime Minister was accorded with a traditional welcome upon his arrival.
7. Seychelles: Promoting Trade and Investment Between Seychelles and China - Opportunities Discussed With Qingdao Companies
Victoria, Seychelles — Trade and investment opportunities available between Seychelles and Qingdao, a major port city of China's eastern province of Shandong, have been widely discussed between entrepreneurs from both countries. A one-day business forum held on Tuesday at the Savoy Resort and Spa at Beau Vallon, in the northern part of the Seychelles main island of Mahé, allowed some 30 local companies and representatives of some 20 businesses from Qingdao to have business-to-business meetings.
8. China Railway Giant Unveils E-commerce Site
The China Railway Corporation has launched an e-commerce website. 95306.cn became active yesterday. The website provides freight logistics, bulk commodity trading and small-scale shopping.
9. National energy assets set to be sold as part of reform
The Chinese government is looking at stripping its biggest energy companies of their oil and gas pipelines, as part of sweeping industry reforms that would see the assets spun off into independent businesses, according to people with knowledge of the plans. The economic planning agency, the National Development and Reform Commission, is leading talks on the initiative, according to four sources, who asked not to be named.
10. Dell targets China market with exclusive products
Dell launched a series of storage products specially designed for the Chinese market on Wednesday, May 13 in Beijing, a move that intended to expand its presence in the fierce market of enterprise-class products. The new range of products will include the entry-level Dell Storage SCv2000 series, which will be priced from 96,000 yuan (US$15,476) for each storage array, and will target small and mid-sized businesses.