介绍:
Chinese car sales jump 18percent
Sales of passenger-vehicles in China rose 18 percent in February.
Figures released by China Association of Automobiles shows that wholesale deliveries of cars climbed 1.31 million units last month, compared to the 1.27 million estimate predicted by analysts in a Bloomberg survey.
The rise is led by Japanese companies extending their rebound from the anti-Japan protests of 2012 which had hurt sales in China.
Ford also saw rising sales last month, at the fastest pace in seven months as foreign brands grabbed more market share in the world's largest automobile market.
The expectation is that Chinese brands will continue to decline due to their wanting in terms of quality and service-coverage compared to foreign competitors.
China's exports slide in February
China's exports tumbled in February adding to fears of a slowdown in the world's second largest economy.
Exports in February dropped 18.1 percent year on year, following a 10.6 percent jump in January.
However, imports in February surged 10.1 percent, resulting in a trade deficit of $23 billion during the month.
This is in contrast to a $32 billion surplus in January.
POBC cuts reference rate by 0.18 percent following weak exports
The People's Bank of China cut the currency's fixing by the most since July 2012.
The country's central bank lowered the daily reference rate by 0.18 percent to 6.1312 per dollar today.
This is the weakest level since December 3rd and comes after figures emerged showing that exports fell over 18 percent year on year in February.
This was a massive difference to the 7.5 percent export increase analysts had predicted.
Tencent to buy 15 percent stake in JD.com
Anchor:
Internet giant Tencent is planning to buy a 15 percent stake in JD.com, a major direct sales company.
The $215 million deal will see JD taking over Tencent's business-to-consumer (b2c) and consumer to consumer (c2c)operations.
Tencent will offer JD level 1 access points at WeChat and Mobile QQ, two of the most popular communication mobile applications developed by Tencent, to boost the latter's growth in physical goods e-commerce, the statement said.
The two firms will also further ties in mobile applications and payment solutions, with JD being regarded as Tencent's preferred partner in certain business areas.
The move will preceed JD's $1.5 billion dollar initial public offering in New York.
The deal is a further move for Tencent towards direct competition with Alibaba, by far the most dominant player in Chinese e-commerce.
For more on this we are joined by Gao Shang, analyst with Guangtong Futures.
…
That was Gao Shang, analyst with Guangtong Futures.
First bond default signals market progress: Shenzhen exchange chairman
The chair of the Shenzhen Stock Exchange contends the first Chinese default of an onshore corporate bond signals market progress.
Chen Dongzheng notes that any financial product has its risks.
His comments come after the Shenzhen-listed solar energy company Shanghai Chaori Solar Energy announced that it's failed to fully service a 90 million yuan interest payment.
The Chinese government has not stepped in on the company's behalf.
Unilever buys share in China water firm
Dutch food and cosmetics giant Unilever has bought a majority stake in Chinese water purification company Qinyuan.
The purchase is said to be Unilever's biggest investment in China in a decade.
Unilever hasn't disclosed a price for the purchase or the size of its stake.
Qinyuan made almost 140 million euros worth of sales in China last year.
The company has grown by more than 20-percent a year over the last three years.
Founded in 1930, Unilever employs some 174-thousand people worldwide.
The company earned a net profit of 4.84-billion euros last year.
Qinyuan makes water purifiers, drinking water equipment and water treatment membranes.
Founded in 1988, the company currently employs around 25-hundred people.
Cambodia inaugurates China-built 176 km road
Cambodian Prime Minister Hun Sen on Monday inaugurated the China-funded road No. 57B in northwestern Battambang province.
The 176-km road was built by the China Road and Bridge Corporation under a 90 million U.S. dollars soft loan from the government of China.
Speaking at the ceremony, Prime Minister Hun Sen said the road would greatly contribute to improving livelihoods of local residents and upgrading road infrastructure in northwestern Cambodia.
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