JD to sack 10% of its top executives

BY CHINA DAILY Chinese e-commerce giant JD will lay off 10 percent of its senior executives this year, as the company looks to maximize its resources and focus on strategic layout and the coordinated development of diversified businesses. According to media reports, the cuts were announced at the company’s annual party last week. JD has confirmed the planned layoffs. Based on the current number of … Continue reading JD to sack 10% of its top executives

BP to add ‘1,000 new sites’ across China

BY CHINA DAILY British energy company BP Plc opened its first branded station in Shandong, East China in January, the latest move of global energy giants investing in gas stations after China lifted restrictions on foreign investments in the sector in June 2018. The new site is the start of BP’s plan to add 1,000 new sites across China over the next five years through … Continue reading BP to add ‘1,000 new sites’ across China

Love for imported wine turns cold in China

BY SILVI WRITER China saw a cooling off in its imported wine enthusiasm in 2018 after years of rapid growth, according to Beijing Business Today. Last year, apart from Chile, which experienced a 4.5 percent year-on-year growth in its value of wine exports to China, figures for France, Australia, Italy and Spain all suffered a decline, the first time since 2015. This is due to … Continue reading Love for imported wine turns cold in China

World Bank: Doing business gets a lot easier in China

BY SILVI WRITER Doing business in China is getting much easier, as the country ranks significantly higher in a latest World Bank report. China ranks the 46th, compared to the 78th place in last year, in Doing Business 2019: Training for Reform, the 16th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. The report presents … Continue reading World Bank: Doing business gets a lot easier in China

Will mobile payment replace cash in China?

BY SILVI WRITER More than 20 percent of Chinese mobile users think digital payment will replace cash transactions in the future, while security concerns over leaking of personal information are rising, a latest report finds out. The report, released by the Payment and Clearing Association of China, also found that 89.1 percent of the users are happy to pay using a QR code, while the … Continue reading Will mobile payment replace cash in China?

Chinese Firms rush to List Overseas, avoid 2019 Headwinds

BY XIE YU, SCMP Vivien Han’s company went public in New York this summer, grabbing headlines in the Chinese media, and was considered another rising star that had successfully tapped the fast-growing Chinese consumer market. Han and her colleagues, however, did not consider the initial public offering (IPO) a success. “We had to cut the fundraising volume two times … market sentiment was not at … Continue reading Chinese Firms rush to List Overseas, avoid 2019 Headwinds

China to overtake US as world’s biggest fashion market

BY CHINA DAILY   China is expected to overtake the United States as the largest fashion market in 2019, according to a report by McKinsey & Company and media outlet The Business of Fashion. The wealth of China’s nearly 1.4 billion people saw rapid increase, creating new consumer groups who have capacity to spend on sports, entertainment, clothes and shoes, news website Quartz reported, adding … Continue reading China to overtake US as world’s biggest fashion market