Housing prices in major cities are no longer on the rise, Chen Zhenggao, minister of Housing and Urban-Rural Development, disclosed at a press conference on Feb. 23.According to statistics from the National Statistics Bureau, prices of new homes in first- and second-tier cities around China remained at basically the same level in January as in the previous month. Home prices in second-tier cities increased by just 0.1 percent. Those in third-tier cities also remained stable, rising 0.4 percent from the previous month.In January, 11 of China’s 15 first-tier cities and popular second-tier cities...
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Tech giant Apple has set a new record topping Fortune’s "world’s most admired companies" list for the 10th year in a row.The ranking is based on votes from 3,800 executives, directors, analysts, and experts in a survey organized by Fortune and Korn Ferry Hay Group.The candidates for the top 50 most admired companies list, which is called the 50 All-Stars, were all ranked in the top 25 percent of last year’s surveys and those shortlisted were in the top 20 percent of their industry this year.The top companies in each industry were selected by voters from the 680 highest-revenue compan...
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The $7.1bn figure compares with $18.9bn a year earlier, and is well short of the $14.4bn analysts had been expecting.The bank attributed the fall in profit to a string of one-off charges, including the sale of its operations in Brazil.HSBC also pointed out it managed to increase market share in Hong Kong and Singapore.The bank confirmed last year it would keep its European headquarters in London, despite Britain’s vote to leave the European Union.But announcing the results on Tuesday, HSBC chairman Douglas Flint said the bank’s current planning suggested it may need to relocate some 1,000 role...
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Feb. 18 marks the first anniversary of Apply Pay’s entry into China. Despite being the most popular third-party payment service in the U.S., Apply Pay is currently underperforming its expectations in China. Local payment services utilizing QR codes, such as WeChat and Alipay, are squeezing Apple Pay out of the market, the National Business Daily reported.According to Analysys, a big data analysis provider, domestic payment service providers took almost 99 percent of the market share in China’s third-party mobile service industry in the third quarter of 2016. Of them, Alipay received 50.24 perc...
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The United States Steel Corporation has decided to withdraw its complaint levied against several Chinese steel companies for “theft of trade secrets,” but will continue to litigate claims related to anti-trust and false designation.According to an announcement on the company’s official website on Feb. 15, United States Steel Corp. has decided to withdraw the complaint, as Section 337 was outdated and “never contemplated the technological advancements over the past 50 years.” The company also called for the U.S. government to provide “legal avenues for corporate victims in cyber crimes.”The ann...
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2017
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