Chinese e-commerce giant Alibaba Group Holding Ltd said on Wednesday that it has officially become the world’s largest retail platform, with its total trading volume online in the fiscal year ending in March 2016 surpassing Wal-Mart’s annual sales.
Representatives from more than 1,000 Australian businesses will be part of Australia’s “largest ever trade mission” to China this month, following the signing of the China-Australia Free Trade Agreement (ChAFTA).
The word that comes to mind to describe the price action on the daily WTI oil chart is ‘stately’ with crude oil continuing to move higher in a series of small rallies then punctuated with a pause point and further consolidation.
China is set to achieve its annual economic growth target while pushing forward supply-side reform, Premier Li Keqiang said on Wednesday.
China is exploring the creation of a mechanism that would use a band to guide the country’s interest rates, an approach aimed at giving the market a greater say in the financial system, a senior monetary official said on Sunday.
China must prevent its economic growth from falling below 6.5 percent this year, leading economists said on Wednesday. They were speaking ahead of the opening of the annual meetings of the country’s top legislature and political advisory body this week.
China’s manufacturing activity has fallen to its lowest level in four years, pointing to the need for more policy support to bolster economic growth and push structural reforms. The purchasing managers’ index (PMI) came in at 49, down from January’s 49.4, the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing said on Tuesday.
Chinese shares regained the 2,900-point mark on Monday, following the appointment of a new regulator head on Saturday.
Apple officially launched its much anticipated Apple Pay service in China on Thursday, through a partnership with China UnionPay, entering the country’s competitive mobile payment race. Users of the iPhone 6 or more advanced versions, certain iPads and Apple Watches will be able to use their devices to buy items across Apple’s second-largest market by revenue.
Stocks of mobile payment related companies soared on Tuesday over speculation that Apple Inc will introduce its cash-free smartphone payment service to China this week.
