One-line news
March 27, 2017 Category One-line news, Weekly
- Some major internet companies in China are appointing mid-ranking public relations and human resources managers to head their Communist Party committees as they try to build closer ties with the government. The approach differs from the state firms, where the Party Secretary usually heads the company. The party committee of a private company usually does not have great significance in business management.
- China plans to carry out environmental spot checks on companies and local governments across the country this year to try to rein in pollution. Inspections teams were sent to 16 cities and provinces in 2016, including Beijing and Shanghai.
- China ranked 79th among 155 countries in happiness between 2014 and 2016, said the World Happiness Report 2017 published by the Sustainable Development Solutions Network (SDSN), a global initiative launched by the United Nations. It beat countries such as Greece (87), Portugal (89) and India (122). Norway came at the top of the list.
- Tencent Holdings, China’s biggest social media and online entertainment company, posted a 47% rise in quarterly profit, helped by strong growth in new revenue streams such as payment and cloud services. Net profit for the three months through December rose to CNY10.53 billion, while full-year profit stood at CNY41.1 billion, up 43%, as revenue rose 48% to CNY151.94 billion.
- Carrie Lam has been elected Chief Executive of Hong Kong for a five-year term. With 777 votes to her name, she beat John Tang with 365, and Woo Kwok-hing with 21 in the Special Administrative Region’s Election Committee.
- China Mobile, the world’s largest wireless network operator, expects the implementation of further tariff cuts ordered by the Chinese government to cost the company at least CNY7 billion in lost revenue and profit this year. Premier Li Keqiang has called on the country’s three telecommunications operators to completely remove domestic long-distance and roaming charges this year, lowering internet access and leased line fees for small and medium-sized enterprises (SMEs), and cut international long-distance voice tariffs.
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