CBN丨Renminbi grows as PBOC pledges decisive action to prevent overshooting
China Business Now
by China Business Now
8M ago
China escalated its defense of the yuan by delivering a strong verbal warning to speculators and forceful guidance to investors with its daily reference rate, measures that pushed the renminbi up from a 16-year low.   https://m.21jingji.com/article/20230911/herald/b57312f08313a9375e4f411935917b2c.html ..read more
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CBN Friday Special丨Coffee with a kick takes China’s coffee wars to a whole new level
China Business Now
by China Business Now
8M ago
Luckin Coffee is once again creating a stir with an unusual offering to capture the attention of Chinese coffee drinkers: lattes with a nip of Kweichow Moutai’s baijiu. The coffee chain partnered with China’s luxury liquor maker to launch an alcohol-infused coffee drink, the so-called “sauce-flavored latte.” Luckin Coffee hailed the success of its new collaboration with Kweichow Moutai, with more than 5.42 million cups of its baijiu-infused latte sold in its debut and sales hitting 100 million yuan a day, setting a new sales record for the Chinese coffee chain.    ..read more
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CBN丨China, Indonesia share similar visions, common interests: Chinese premier
China Business Now
by China Business Now
8M ago
Chinese premier hails strong China-ASEAN ties at the opening of 26th China-ASEAN Summit. Li said "China and ASEAN have succeeded in blazing a correct path of long-term good-neighborliness and friendship, as well as common development and prosperity as the world is undergoing profound changes unseen in a century," in his opening remarks at the China-ASEAN Summit in Jakarta    https://m.21jingji.com/article/20230906/herald/3c236d415950671aac6caf2952c2c919.html ..read more
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CBN丨Bustling CIFTIS fair attests to China’s foreign investment magnetism
China Business Now
by China Business Now
8M ago
Introducing new products, services, and technologies; announcing cooperations with Chinese partners and exchanging ideas at forums -- the hustle and bustle of foreign exhibitors at the ongoing 2023 China International Fair for Trade in Services (CIFTIS) has painted an inspiring picture of China's foreign investment magnetism.   https://m.21jingji.com/article/20230905/herald/ae3a992b9ca4bc311437ab90f63e7828.html ..read more
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CBN丨China establishes bureau for private economy development
China Business Now
by China Business Now
8M ago
China has set up a bureau under the country's top economic planner specializing in promoting the private economy.    https://m.21jingji.com/article/20230904/herald/ba1129b8cac08f808bf5252f4e76cdda.html ..read more
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CBN丨China’s manufacturing PMI improves in August
China Business Now
by China Business Now
8M ago
China's official manufacturing purchasing managers' index (PMI) continued to improve in August, marking the third consecutive monthly increase though the index remains in contraction.   https://m.21jingji.com/article/20230831/herald/c383444f0911fa0e005bc39eb12c6155.html ..read more
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CBN丨Chinese banks to cut existing mortgage rates
China Business Now
by China Business Now
8M ago
China's State Council has released a plan to boost the high-quality development of a sci-tech innovation cooperation zone jointly developed by the southern tech hub Shenzhen and the Hong Kong SAR. The Development Plan for Shenzhen Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone comprises a total of 30 measures, covering such areas as the development positioning, objectives, overall layout and infrastructure layout of the Shenzhen Park, as well as the collaboration with Hong Kong to promote international I&T development.    https://m.21jingji.co ..read more
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CBN丨China, US commerce authorities to establish new working group
China Business Now
by China Business Now
8M ago
China and US agreed to form a working group, which will comprise deputy ministerial and bureau-level government officials from both countries alongside business representatives, to seek solutions to specific commercial issues.   https://m.21jingji.com/article/20230829/herald/a0cc1e95c1f3cd4f56c0c2fc1ac04c63.html ..read more
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CBN丨China halves stamp duty on stock trades
China Business Now
by China Business Now
8M ago
China halved the stamp duty on stock trading effective Monday for the first time since 2008, in the latest attempt to boost the struggling market in the world's second-biggest economy.   https://m.21jingji.com/article/20230828/herald/faab376b468f1b96cbaa8baac81c1c42.html ..read more
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CBN Friday Special丨Qixi Festival: What’s behind the newfound popularity of Chinese Valentine’s Day?
China Business Now
by China Business Now
8M ago
Similar to Valentine's Day in Western culture, Qixi Festival has become a commercialized occasion with the exchange of gifts, flowers, chocolates, and romantic gestures. Qixi-themed set meals saw a 118% surge in the week to Tuesday from the prior seven days, while reservations on the day soared 185% from a year ago.   https://m.21jingji.com/article/20230825/herald/f4f562d61029601d62a595b9f39debc4.html ..read more
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