A staff worker at the The First Hospital of China Medical University presents an online medical consultation app in Shenyang, Northeast Chinas Liaoning province on Feb 12, 2020. (Photo: VCG)Chinas internet industry has helped curb the spread of COVID-19 and also improved peoples lives through the development of the digital economy and digital facilities, an official from the China Internet Network Information Center said on Tuesday."The internet industry has shown its great development vitality during the outbreak, and is becoming a key force for our country to face new challenges and build a new economy," Wu Tienan, the centers deputy director of the center, told a news conference in Beijing on Tuesday at which it released a report on internet developments."The internet industry and online services have played a dynamic role in safeguarding peoples livelihoods during the outbreak," he added.The report said there were 940 million internet users in China by the end of June, with about 381 million using it for educational purposes, 276 million for medical care and 199 million using it to work remotely. The number of hosts and viewers of e-commerce livestreams reached 309 million, up 44.3 million compared with three months earlier, it said, adding that it was the fastest-growing internet application.Many online service industries, such as food orders and ride-hailing, also witnessed growth in the first six months of the year due to the pandemic. About 409 million people had used the internet to order food by the end of June, up 11.24 million from the end of March, the report said.It said more than 99 percent of Chinese netizens surf the internet on their mobile phones, adding that instant messaging is the most-used type of application, followed by online video and online audio.
This photo shows part of the inside of the main terminal of the new Beijing airport under construction in the citys Daxing district on Friday. The Civil Aviation Administration of China officially named Beijings new airport Beijing Daxing International Airport, which is expected to begin operations by September 30, 2019. Photo: ICThe Chinese aviation industry, which was hard hit by the coronavirus, is reviving with the coming eight-day holiday period expected to spur a new round of travel fever.Estimates from airports around the nation indicate they expect to see a passenger travel peak during the National Day and Mid-Autumn Festival holidays, a sign that the sector is recovering.Two airports in Beijing are expected to serve about 2 million people from September 28 to October 11. Flights from Beijing Capital International Airport may carry 2.189 million passengers and Beijing Daxing International Airport another 750,000, data from the airports said.Other airports such as Taiyuan airport in Taiyuan, North Chinas Shanxi Province and the airport in Hotan County, Northwest Chinas Xinjiang Uygur Autonomous Region, see passenger throughput coming back."The civil aviation market will continue to strengthen during the holidays, and passenger traffic is expected to exceed the level of the same period last year," Yu Zhanfu, global partner of Roland Bergers strategy consultancy, told the Global Times on Tuesday.The travel fever is also boosting the number of domestic flights.China Southern Airlines plans to operate about 2,000 flights at the Daxing hub during the holiday period, with a maximum of 220 flights per day. It is estimated that more than 160,000 passengers will take China Southern Airlines flights from Daxing airport to more than 40 major cities across the country.China Eastern Airlines said it plans to operate 24,202 flights with 4.033 million seats during the holidays, and flying capacity will basically return to the same period l...
Photo:VCGGoogle has said it will no longer allow any apps that bypass its payment system into the Google Play store, which means Google will take 30 percent of in-app purchases from developers, the same as Apple.Analysts said Googles new billing policy will offer an opportunity to Chinese mobile phone producers to go global and break monopolies, with a lower cut from app developers.Starting August 2, 2021, all new apps using Play Billing must use the Billing Library version 3 or newer, Google said on Monday on its Android developer website. Google also clarified its billing policy as some developers were confused about which transactions would have to use the Google app store billing system. For apps from the Google Play store, Google charges 30 percent from in-app purchases, according to its policy.But some developers, including Netflix and Spotify, have bypassed this requirement by encouraging users to pay directly with their credit cards, the New York Times reported."There is no Android tax for Android in China, because each mobile phone manufacturer has its own app store. Of course, the manufacturers app stores also take a certain percentage of each transaction, but the amount is less and its more flexible than Google," Pan Helin, executive director with the digital economy research institute under the Zhongnan University of Economics and Law, told the Global Times on Tuesday.Google and Apple are tied when it comes to digital taxes, known as the Android tax and Apple tax, as Apple also takes a 30 percent cut of in-app payments and subscriptions through the app store. Apple forces users to pay Apples price for apps by not allowing iOS users to download apps from third-party app stores."Googles latest billing policy represents an opportunity for Chinese handset vendors represented by Huawei and its Huawei Mobile Services, which at one point took a 10 percent cut overseas, and the amount could go even lower to attra...
Hong Kong (Peoples Daily) – The Hong Kong Stock Exchange (HKEX) said on Tuesday that Chief Executive Charles Li Xiaojia was seeking early retirement and will be succeeded by its current Co-President Calvin Tai Chi-kin, effective January 1, 2021.Li on Monday informed the board of his wish to step down early, after more than a decade as head of HKEX. With the full support and agreement of the board directors, Li will remain his role until the end of 2020.Following Li’s retirement, Tai, aged 58, will act as Interim Chief Executive of HKEX starting next year, while remaining co-president and chief operating officer of HKEX concurrently. This appointment has been approved in writing by the Securities and Futures Commission.“Tai’s broad knowledge and thorough understanding of our business, and his commitment to the success of Hong Kong’s financial community are invaluable to us. Under his leadership, HKEX will continue to benefit from strong oversight and execution, and to play a major role in the global economy,” the board said.(Photo: VCG)In a statement, Li expressed his gratitude and appreciation to HKEX. “There is never a perfect time to stand down from a great company such as HKEX, but given the strength of our business as well as our markets, it is now the right time for me to pass the mantle to the next generation of HKEX leaders.”Tai said that HKEX’s strategy of being “China anchored, globally connected and technology empowered” will continue to be the focus as company looks to drive its growth story. “I would like to personally thank Charles for his leadership and friendship over more than 11 years, and the board, for their faith in me at this important time for Hong Kong and HKEX,” he added.As one of the world’s major exchange groups, HKEX is the leading IPO market and sole operator in Hong Kong of securities and derivative exchange. It is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
Pedestrians walk past electronic screens of the New York Stock Exchange (NYSE) in New York, the United States, Sept. 3, 2020. (Photo: Xinhua)Sina Corp, the owner of Chinas twitter-like social media platform Weibo and one of Chinas web portal pioneers, announced on Monday that it has entered into a definitive agreement to go private and delist from NASDAQ — where it was listed 20 years ago.Chinese analysts predicted that it is highly likely that Sina will come to the major A-share market or Hong Kong board for a secondary listing after going private, given the current tightening US regulatory environment for Chinese firms as well as the rising attractiveness of domestic capital market for new-economy firms.New Wave, a company of Charles Chao, CEO and controlling shareholder of Sina, and New Waves subsidiary will pay in an all-cash transaction implying an equity value of approximately $2.59 billion for all the ordinary shares of Sina, according to a press release by Sina.Lively investors have been buying Sinas stock for $43.3 per share, 5 percent more than the proposed price in July when a nonbinding buyout bid came from New Wave.The merger is currently expected to close during the first quarter of 2021 when Sina is expected to delist from NASDAQ where it went IPO in 2020.Sliding revenue and stock are deemed as the major reasons for Sina to go private, an analyst said.For the second quarter of 2020, Sina reported a net revenue of $507.7 million, a decrease of 5 percent compared to $533.1 million for the same period last year.As its core business that contributes nearly 80 percent of Sinas revenues, advertising has shown sluggish growth in Sina as the web portal weakens.As the first domestic internet company to go public in the US, Sinas market valuation was only $2.782 billion after 20 years of listing. In April 2011, Sinas stock price reached a peak of $147 per share.Sinas share price is $42.55 as of press time.Yang Delong, chi...
Riders compete in a horse racing competition in Wuhan, Central Chinas Hubei Province, in 2017. (Photo: VCG)China will boost the advancement of horse racing by studying, formulating and introducing standards and development plan for national racing events, and establish a classification system for racing events in line with international standards, according to a latest government notice issued Tuesday, a message that drove up the stocks in the sector.The Ministry of Agriculture and Rural Affairs and the General Administration of Sport of China issued a joint notice on Tuesday suggesting a new development scheme for the development of horse industry from 2020 to 2025, highlighting the advancement of horse racing system as an effort for a further opening-up of the field.The announcement brought positive news to the sector. A shares of horse racing concept stocks rose on Tuesday, with Hainan Ruize rising to 6.42 yuan, up 9.93 percent.The credibility of horse racing events will be improved and an admission assessment system for professional employees will be introduced, the notice said.Meanwhile, China will improve the control system for drugs and prohibited substances on horses, gradually establishing a horse welfare system in line with international standards, and release an annual report on the credibility of Chinas horse racing, according to the government notice.One highlight of the scheme is the idea of introducing instant sports lottery and guessing lottery pilot project for horse-racing competitions, which will take place in accordance with the development rules and regulatory requirements.An industry insider noted that the idea for issuing the notice is to boost the economy and livelihood of the horse breeders, the advancement of the supply chains, as well as Chinas international influence in horse industry."The latest governmental scheme is certainly a good signal for the whole horse industry and we expect the local government will put it i...
File photo of Charles Li Xiaojia. (Photo: CFP)Charles Li Xiaojia on Tue informed HKEX of his wish to seek early retirement. Li will remain as HKEX chief executive until Dec 31.Calvin Tai Chi-kin has been announced to act as interim chief executive of HKEX effective Jan 1, 2021, following Li’s retirement.
Staff members polish a GAC Enpulse at the Beijing International Automotive Exhibition, on Sept 26, 2020. (Photo: Agencies)Global automakers are looking to China to boost sales and reverse losses, as the country is the first major economy to start recovering from the coronavirus pandemic with the disease under control, the Associated Press reported on Saturday.Auto China 2020, which opened Saturday and ends Monday, is being held under anti-virus controls, including holding news conferences via international video link. It attracted global and Chinese automakers to display dozens of their electric models. The countrys auto market - the worlds biggest - already has rebounded with sales above pre-pandemic levels, with passenger car sales up 6 percent in August compared with the same period a year earlier."We need to adapt to the Chinese market," Nissan CEO Makoto Uchida said in a news conference conducted by video link from the companys Japan headquarters. He said China is a key part of an effort underway to return Nissan to profit, after it reported a $6.2 billion loss for the year ending in March. Nissan showed its all-electric Ariya SUV during the show, and plans to release nine electrified models in China by 2025.BMW displayed its iX3 electric SUV, which will be produced at a factory in Northeast China for sale worldwide, according to BMW AGs China CEO Jochen Goller. The company also hosted the global debut of its M3 sedan and M4 coupe, reflecting the growing importance of Chinas luxury market.Chinas local brands are also working to extend their range of electric vehicles to appeal to a broader market. Geely Auto, Xiaopeng and Shanghai Automotive Industries Corp displayed models all promising more than 500 kilometers on one charge.Chinese brands also plan to export to developed markets, despite weak US and European demand. Chery, one of Chinas biggest independent brands, is working on plans to export its X70PLUS gas-power...
File photo of mooncakes. (Photo: Sipa)Traditional foods, such as mooncakes and hairy crabs, showed strong sales growth for the upcoming National Day and Mid-Autumn Festival holiday, according to a new report released by JD Daojia, the on-demand retail platform of Dada Group.The report said sales of mooncakes increased by 240 percent from Sept 20 to Saturday, compared with the same period last year. Among them, mooncakes filled with eggs, pork, bean paste and kernel are the most popular products.Sales in lower-tier cities, such as Datong in Shanxi province, Kaifeng in Henan and Xiangtan in Hunan provinces, and Xinyu in Jiangxi province, increased by more than 500 percent during this period on a yearly basis.In addition, hairy crabs are in great demand for Chinese consumers. According to JD Daojia, sales of hairy crabs increased by 80 percent from last year, while sales of yogurt increased by 450 percent year-on-year, blended oil increased by 210 percent, and imported candy and chocolate increased by 170 percent.The report also predicted that the peak shopping day of the upcoming eight-day holiday will occur on Thursday, when Chinese National Day and Mid-Autumn Festival are on the same day. In lower-tier markets, the one-hour home delivery service has become one of the most popular consumption trends.
Shanghai is rolling out tough measures to reduce plastic use and waste in the city, which will become effective on Thursday.By the end of 2020, all shopping malls, supermarkets, pharmacies, bookstores and major events will not be allowed to provide single-use plastic bags to the public.“As early as
Beijing recently unveiled three sections of its newly established pilot free trade zone amid fresh efforts in building a higher level of opening-up in China's capital city.85 square kilometers including a part of the Zhongguancun Science City and the surrounding areas of the Life Science Park.The i
29 -- South Korea's online shopping kept a double-digit growth in August as people refrained from offline shopping amid the fear of the COVID-19 outbreak, a government report showed Tuesday.1 percent in August from a year earlier, according to the Ministry of Trade, Industry and Energy.The sale of
Photo: CFPBEIJING, Sept. 29 (Xinhua) -- Chinese stocks closed higher on Tuesday, with the benchmark Shanghai Composite Index up 0.21 percent at 3,224.36 points.The Shenzhen Component Index closed 1.1 percent higher at 12,900.7 points.
BEIJING, Sept. 29 (Xinhua) - Chinas major stock indices ended higher in the morning session Tuesday, with the benchmark Shanghai Composite Index up 0.52 percent at 3,234.39 points.(File photo: CFP)The Shenzhen Component Index gained 1.19 percent to end at 12,912.56 points at midday.The ChiNext Index, tracking Chinas NASDAQ-style board of growth enterprises, gained 1.5 percent to 2,559.1 points in the morning session Tuesday.
The 2020 World New Energy Vehicle Congress kicks off in Haikou, Hainan province on Sept 27, 2020.A list of 14 cutting-edge technologies in new energy vehicles was released on Monday at the 2020 World New Energy Vehicle Congress in Haikou, Hainan province.Seven developments — including the integratio
Photo taken on Nov. 9, 2019 shows the National Exhibition and Convention Center in east China's Shanghai, where the second China International Import Expo was held from Nov.A batch of skincare products from the United States became the first exhibits to clear customs in Shanghai for this year's Chi
Employees watch the first fuel assembly being successfully loaded on to a reactor at a nuclear power plant in Fuqing, Fujian province, on Sept 4. [Photo/Xinhua] Fuel assembly loading activities at Fuqing nuclear power plant, China's first nuclear facility using Hualong One technology－a domest
The China International Import Expo started to take application of business exhibitors for next years edition on Monday. (Photo provided to China Daily)The China International Import Expo started to take application of business exhibitors for next years edition on Monday.The annual expo has been taking place in Shanghai during Nov 5 to 10 since 2018, and as a comprehensive trade fair, its exhibitors comprise leading companies in six sectors — automobile, food and agriculture, healthcare and medical equipment, manufacturing, consumer goods and services.Themed on imports, the expo accepts only companies or institutions registered outside of the Chinese mainland and providing goods and services from overseas.First-time applicants will need to submit company information at the expos website www.ciie.org and wait for review, while participants of this years expo can renew their exhibitor status using their existing information.