China’s economy has been ranked the top performing in terms of overall strength and vitality in a report released at the Boao Forum for Asia on Thursday.The Asia Competitiveness Annual Report 2017 acknowledged China maintained a growth rate of 6.7 percent last year while contributing 30 percent to the world economic growth.In terms of overall competitiveness, China ranked 9th out of all Asian economies in 2016.The report noted China’s increased investment in scientific fields and allocation of national financial education expenditure equivalent to over 4 percent of the total GDP as it aims to ...
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Big Chinese cities have launched a new round of lending curbs and purchase restrictions in an effort to cool overheated property markets, as official media warn that some have veered towards a bubble.Sky-high prices in cities including Beijing, Shanghai, and Shenzhen are stoking anger, even among relatively well-off professionals.Meanwhile, controlling financial risk has emerged as the dominant economic policy theme for 2017. At the conclusion of the annual session of China’s rubber-stamp parliament last week, the government pledged to “contain excessive home price rises in hot markets”.On Zhi...
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The row between Seoul and Beijing over the deployment of a US missile defense system has seen China overtake even former colonizer Japan in the ranking of South Koreans’ least favored countries, a survey shows.Japan has consistently been Southerners’ most disliked country mainly due to disputes over Tokyo’s wartime atrocities including the use of up to 200,000 Korean women as sexual slaves for Japanese troops.But now South Korea and the US have begun deploying the Terminal High Altitude Area Defense (THAAD) system to guard against missile threats from the nuclear-armed North, infuriating China...
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SHANGHAI (Reuters) - IBM and a unit of China’s Dalian Wanda Group, a property and entertainment conglomerate, agreed on Sunday to team up to provide cloud services to Chinese companies, the U.S. technology provider said.Through a newly formed venture, Wanda Cloud Company, they will offer select IBM cloud infrastructure and platform as a service (IaaS and PaaS) technologies in China, IBM said.The venture between IBM and Wanda Internet Technology Group will be "responsible for distributing, building and operating the IBM cloud platform in China", an IBM spokeswoman said.In November, Al...
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Apple is to set up two more research and development (R&D) centers in Shanghai and Suzhou, following Beijing and Shenzhen.Apple has committed to invest 3.5 billion yuan (500 million U.S. dollars) in the centers, according to an announcement on the company website Friday.Apple’s growing engineering and operation teams in China will focus on cooperating with local partners, according to the announcement.Apple’s R&D centers in China will seek graduates of China’s leading universities including Peking University, Tsinghua University and Shanghai Jiao Tong University. Apple has been working...
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