By Lianting Tu and Carrie Hong In China, bankers and traders don’t just hit the phones or send an email when they have a deal to sell. They take to WeChat. Regulators elsewhere may be clamping down on the financial industry’s use of private messaging apps, but in the world’s second-largest economy the practice is flourishing. Players in China’s $11 trillion bond market use personal accounts on WeChat and QQ -- apps owned by Chinese tech giant Tencent Holdings Ltd. -- for everything from distributing research to soliciting orders. While it’s not illegal to use social media to conduct business, most developed-market regulators require records to be kept, which is where China’s embrace of this new technology can get problematic. A banker in Hong Kong found that out the hard way when he was censured by the city’s securities watchdog last week for accepting order instructions by WeChat and mobile phone. The use of social-media tools in … [Read more...] about In China, trading begins on WeChat
China deploys missiles in south china sea
Video PlayerClose Customers shop at U.S. retail giant Costco Wholesale's first brick-and-mortar store in east China's Shanghai, Sept. 19, 2019. (Xinhua/Liu Ying) Foreign retailers are expanding their presence and navigating their strategies in China. China shows the commitment in further opening up and creating an increasingly prosperous market. by Xinhua writers Zheng Xin, Jiang Jiang and Chen Aiping BEIJING, Dec. 7 (Xinhua) -- Foreign retailers are expanding their presence and navigating their strategies in China as the country aims for wider opening-up as its consumers pursue high-quality products. Facing the complicated situation of rising risks and challenges both at home and abroad this year, China has maintained sustained and sound economic and social development. A meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee Friday emphasized the importance of deepening reforms in the economic system to achieve a higher level of opening-up. For … [Read more...] about Xinhua Headlines-Yearender: Foreign retailers put best foot forward in evolving China market
The world's first insulin product working for both a stable blood glucose level around the clock and a healthy postprandial blood glucose level was launched in the Chinese market in Shanghai on Saturday. The innovative injection by Denmark's biopharmaceutical company Novo Nordisk that had been previously available in 27 countries and regions overseas after making its world market debut in 2012 was claimed to be "very suitable" for Chinese diabetes patients, who have a high need for controlling the postprandial blood glucose level as they take high-carbohydrate meals with a relatively high glycemic index. Ji Linong, a leading medical expert in diabetes in China, said that it is probably so far the best insulin product that simulates the physiological secretion of insulin in the human body. "Some current insulin injections may pose a threat to causing low blood glucose for patients, and such concerns may lead to some patients randomly reducing their amount of medicine use, which impairs … [Read more...] about Novo Nordisk launches innovative insulin product in China
Next Ajai Shukla in New Delhi If China's White Paper figures are authentic, the Indian Army, with 1.2 million soldiers, is 50 per cent larger than the PLAA.Ajai Shukla reports As the Army's Military Intelligence and Military Operations directorates study the Chinese troop incursion into Indian territory at Daulat Beg Oldi, below the towering Karakoram Pass in Ladakh, military analysts are also scanning a newly-released Chinese document for information that might be of help. Issued on April 16 by the State Council Information Office, the defence White Paper titled 'The Diversified Employment of China's Armed Forces' (hereafter 'China's Armed Forces') provides an unusually clear look into the structures and missions of the People's Liberation Army. The document, 'China's Armed Forces', has surprised Indian analysts by revealing the PLA land forces (long regarded as the largest standing army in the world) are actually just half the size that intelligence … [Read more...] about Indian Army matches China man-for-man on the border!
Beijing: China on Friday said its research ship sailed through India's Exclusive Economic Zone (EEZ) near Andaman Islands in September, but it did not conduct any experiment. Navy chief Admiral Karambir Singh on Tuesday said a Chinese naval ship was driven away from the EEZ in the Andaman sea recently, asserting that such activities will be dealt with sternly. Military sources in New Delhi said the research ship Shi Yan 1 forayed into Indian waters in September but was forced to retreat after it was suspected to be involved in spying. The ship entered the area without Indian Navy's prior permission, they said. Singh said anyone operating in "our region, will have to notify the Indian Navy". The Chinese Foreign Ministry in a statement on Friday said, "China has taken note of the remarks made by the Indian navy chief of staff on the Indian navy's expulsion of the Chinese research vessel 'Experiment-1' in September." "It has been verified that the research vessel 'Experiment-1' was … [Read more...] about China Denies Its Research Ship Conducted Any Experiment Near Andaman Islands in Sept