Chinese internet giant Tencent Holdings Ltd will subscribe for approximately 207.5 million new H shares of China International Capital Corp Ltd, CICC announced on its official website Wednesday.The subscribed shares account for 12.01 percent and 4.95 percent of the total issued H shares and the total issued shares of CICC on a fully diluted basis respectively, CICC said.Besides the subscription agreement, the two companies also signed a strategic cooperation framework agreement on Wednesday, committed to join hands in tilling the financial service sector.In addition, CICC said the two companie...
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With more than 50 brands competing in the Russian market, Chinese brands control over 25 percent of the total smartphone market while share of Russian manufacturers dropped to single digits in Q2, according to a report by consultancy Counterpoint Research.But the overall health of the Russian market isn't so rosy.The country's smartphone shipments fell 12 percent year-on-year in the second quarter of this year while they grew 2 percent sequentially,said the report.Chinese smartphone brand Huawei took the third spot with 8 percent of Russia's smartphone shipments market share in the...
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2017
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BEIJING - The zero-depth earthquake measuring 3.4 on the Richter scale that occurred Saturday in the Democratic People's Republic of Korea (DPRK) is not the result of a nuclear test, the China Earthquake Networks Center (CENC) said.The China Earthquake Administration, of which the CENC is a part, and related departments conducted studies on the infrasonic records of the earthquake and previous quakes including those provoked by nuclear tests on the Korean Peninsula. They concluded that Saturday's quake is a natural one, the seismic service said.The epicenter was at 41.36 degrees north ...
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China's Ministry of Finance on Friday rebutted S&P Global Ratings' decision to downgrade the country's sovereign credit rating, saying it was "a wrong decision" that neglects the nation's economic fundamentals and development potential.Analysts said the agency's methodology in rating China is fundamentally flawed as it neglected the country's strong capability for debt repayment.The Standard & Poor's agency on Thursday cut China's long-term sovereign rating by one notch to A+ from AA-, citing its increasing debt risks. The finance ministry said...
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2017
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WASHINGTON - US Secretary of State Rex Tillerson said on Sunday that the United States was considering whether or not to close down the US embassy in Cuba after US diplomats fell ill."We have it under evaluation and it's a very serious issue with respect to the harm some individuals have suffered," said Tillerson in an interview with CBS."We've brought some of those people home. It's under review," he added.The US State Department revealed last month that at least 16 Americans working at the US embassy in Havana, Cuba, suffered physical symptoms caused by some &...
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2017
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