One-line news
Jul-03-2017 By : fcccadmin
- “Outstanding” foreign graduates will enjoy more job opportunities in Shanghai this year as they will no longer require two years of work experience before being allowed to work in the city. “Outstanding” means students with an average academic score of 80 and above. Foreigners who graduate from Shanghai universities need only gain a bachelor’s degree if their future employers are in the Free Trade Zone or the Zhangjiang area.
One-line news
Jun-26-2017 By : fcccadmin
- China Mengniu Dairy has invested more than CNY5 billion in Modern Farming Group Co to manufacture pasteurized milk products and other low-temperature dairy products. Modern Farming is the country’s leading farm company, with the largest number of cattle and a leading provider of raw milk. The company operates 26 farms with 229,200 cows. Mengniu controls about 61.25% of Modern Farming.
- Billionaire Wang Jianlin’s Dalian Wanda Group has rebuked rumors that major state banks have been directed to sell off its bonds. The rebuttal appeared to be confirmed when two executives with Industrial and Commercial Bank of China (ICBC) told the Securities Journal that the bank had not received orders to sell Wanda bonds.
- China has been shifting the focus of wide-ranging bribery investigations to telecommunications, media and technology (TMT) firms as the industry becomes more important to the economy, according to a joint report by the China Institute of Corporate Legal Affairs, Netherlands-based information services provider Wolters Kluwer, and Chinese law firm Fangda Partners.
One-line news
Jun-19-2017 By : fcccadmin
- Panama has switched official recognition from Taipei to Beijing. Panama’s decision leaves Taiwan with only 20 countries with whom its has diplomatic relations. Haiti and the Dominican Republic, which have set up trade representative offices in China, might be next, according to Xu Shicheng, Research Fellow in Latin American studies at the Chinese Academy of Social Sciences (CASS).
- A group of Chinese companies launched a lawsuit against fugitive tycoon Guo Wengui in the U.S. in a bid to obtain compensation for assets they weren’t able to recover following a legal victory in China. Represented by New York-area law firm Kevin Kerveng Tung, nine plaintiffs filed a complaint in New York against Guo and four of his companies. The plaintiffs are seeking more than USD40 million in direct damages and USD10 million in punitive damages.
- Yangpu plans to build a museum along the Huangpu river showcasing China’s industrial history dating back over a century. The district is surveying all of its historic buildings along the river to preserve valuable structures as well as to collect exhibits for the Shanghai Industry Museum. Yangpu’s riverside area was once home to several of China’s earliest industries – many of them dating back over 100 years.
- The first new ID cards for foreign permanent residents were issued across the country on June 16 to expats holding “green cards”. The machine-readable Foreign Permanent Resident ID Card can be used independently as legal proof of identity when dealing with such issues as finance, education, health, communication, accommodations, telecommunication, employment, taxes, social security, property registration and lawsuits in China.
- Dadi Cinema Group, China’s second-largest cinema investment and management company, plans to build as many as 60 new cinemas this year, focusing on lower-tier cities where people have more spare time to make the trip to a cinema. The group, trailing only Wanda Cinema in China in size, will also actively seek acquisition targets to increase the number of screens it owns following the purchase of Golden Harvest’s China cinema arm early this year, according to Dadi Chief Executive Yu Xin. At present, Dadi owns more than 400 cinemas and about 2,500 screens.
One-line news
Jun-12-2017 By : fcccadmin
- Three labor activists in China who scrutinized a company making Ivanka Trump-branded shoes are under investigation on suspicion of providing industrial secrets to a foreign organization for money. China rejected a call from the U.S. State Department for the release of the activists saying they were under investigation on suspicion of interfering with a company’s “normal operation and production activities” and the illegal use of “professional surveillance equipment”.
One-line news
Jun-06-2017 By : fcccadmin
- Holders of Chinese green cards can now apply for “foreign permanent resident ID cards”, the Ministry of Public Security announced. The new machine-readable cards with embedded chips are similar to Chinese citizens’ identity cards and will replace the current permanent residence cards. The new cards can be used to access finance, education, hospital, transport, telecommunications, tax, social insurance, property registration and legal services in China with no other personal documents required.
- Wang Bao’an, former Director of the National Bureau of Statistics (NBS), has been sentenced to life in jail for accepting CNY153 million worth of bribes. The Central Commission for Discipline Inspection (CCDI) described him as “morally bankrupt” and “completely” lacking in political beliefs.
- Lu Ziyue, former Mayor of Ningbo, Zhejiang province, was sentenced to life imprisonment for bribery, and Chang Xiaobing, former Chairman of China Telecom; Li Chengyun, former Vice Governor of Sichuan province, and Deng Qilin, former Chairman of Wuhan Iron and Steel Corp, to six to 15 year jail terms. Liu Zhigeng, former Vice Governor of Guangdong province, was given a life sentence for accepting bribes valued at more than CNY98 million. Song Lin, former Chairman of China Resources Group received a sentence of 14 years in prison and a fine of CNY4 million.
- The world’s biggest floating solar power plant has been put in use in a lake in the city of Huainan, in Anhui province. It can generate 40 megawatts of electricity – enough to power 15,000 homes, according to Sungrow Power Supply, the builder of the plant.
- Chen Gang, former Party Secretary of Beijing’s Chaoyang district and of Guiyang, capital city of Guizhou province, has been appointed to lead the Xiongan New Area in Hebei province that will be key to the integration of the Beijing-Tianjin-Hebei region and take over some of the functions of Beijing. In the future, the new area is expected to rival Shenzhen and Shanghai’s Pudong.
