Monthly Archives: November 2015
- Cover story
- Economy outlook
- Financial strategy
- Legal spotlight
- Point of interest
- Remark from editor
Alibaba Group Holding Limited (NYSE: BABA) announced on the 12th of November that USD14.3 billion (RMB91.2 billion) of gross merchandise volume (“GMV”) was settled through Alipay on Alibaba’s retail marketplaces on November 11, 2015, making the 2015 11.11 Global Shopping Festival the largest shopping day in history. Mobile GMV settled through Alipay accounted for 68.7 percent of total GMV. Continue reading
The CPC Central Committee and the Chinese State Council place a high priority on introducing the negative list system for market access. In Nov. 2013, the Third Plenum of the 18th CPC Central Committee set forth to ‘implement a uniform negative list system for market access so that market players of all categories can equally access unlisted sectors in accordance with law based on the formulation of the negative list’. The Several Opinions of the State Council on Promoting Fair Market Competition and Maintaining Normal Market Order (No.20 State Council 2014) issued in Jun. 2014 decrees that ‘the market access system will be reformed. The negative list for market access will be drawn up, by which the State Council will outline industries, sectors and businesses of prohibition and restrictions for investment and operation. Market players of all kinds will have equal access to unlisted areas in accordance with law’. Following the deployment of the CPC Central Committee and the State Council, the NDRC and MOFCOM joined related departments in drafting the Opinions on Implementing the Negative List System for Market Access (the Opinions), which, upon adoption by the 16th meeting of the Central Leading Group for Comprehensively Deepening Reform on 15th Sept., was printed and circulated and released by the State Council the other day. Continue reading
The Banking Business Service Protocol of the Service Trade of the Free Trade Area between the Government of the People’s Republic of China and the Government of the Islamic Republic of Pakistan ( herein after referred to as the Protocol ) took effect on November 11 2015 since both China and Pakistan completed the internal approval process of their own.
This Protocol was jointly signed by the Chinese Minister of Commerce Gao Hucheng and the Pakistani Minister of Commerce Khurram Dastagir Khan in Islamabad on behalf of their own government respectively when Chinese President Xi Jinping paid a state visit to Pakistan on April 20 2015. Continue reading
China and the Association of Southeast Asian Nations (ASEAN) sealed a deal here Sunday to upgrade their free trade area (FTA), injecting fresh impetus into regional economic cooperation. Continue reading
The Grand Canal forms a vast inland waterway system in the north-eastern and central eastern plains of China, passing through eight of the country’s present-day provinces. It runs from the capital Beijing in the north to Zhejiang Province in the south. Constructed in sections from the 5th century BC onwards, it was conceived as a unified means of communication for the Empire for the first time in the 7th century AD (Sui Dynasty). This led to a series of gigantic worksites, creating the world’s largest and most extensive civil engineering project ensemble prior to the Industrial Revolution. Completed and maintained by successive dynasties, it formed the backbone of the Empire’s inland communications system. Its management was made possible over a long period by means of the Caoyun system, the imperial monopoly for the transport of grain and strategic raw materials, and for the taxation and control of traffic. The system enabled the supply of rice to feed the population, the unified administration of the territory, and the transport of troops. The Grand Canal reached a new peak in the 13th century (Yuan Dynasty), providing a unified inland navigation network consisting of more than 2,000 km of artificial waterways, linking five of the most important river basins in China, including the Yellow River and the Yangtze. Still a major means of internal communication today, it has played an important role in ensuring the economic prosperity and stability of China over the ages. Continue reading
China Resources Pharmaceutical Group (hereinafter CR Pharma) is one of the seven core strategic business units of China Resources (Holdings) Company Limited (hereinafter CR), which was founded in 1938, ranked 143th of the Global 500 by Fortune in 2014. Continue reading
The craziest shopping spree this month no doubt happened on the 11th of November. This date has been designated as Singles Day by Chinese online shopping tycoon Alibaba because 11th of November can be written down as 1111 which can be viewed as four singles.
Alibaba said total sales exceeded $5 billion in just the first 90 minutes of the 24-hour sale, which kicked off at midnight in Beijing. About 72% of sales were from mobile phones. Continue reading