介绍:
Three telecoms will launch the "no clearance of the remained traffic data" service
China's top three major telecom operators will launch rollover data services on October 1st, meaning unused data at the end of the month will no longer just disappear.
The operators will launch the service to all subscribers automatically.
Since May of this year, the three major operators have tested this kind of service within certain businesses and through a traffic data donation service.
In July, China's Department of Telecommunication Development urged telecom operators to launch data rollover plans to all the subscribers.
The authority also urged telecom companies to lower Internet prices and elevate connection speeds.
Life insurance pricing mechanism liberalized
The insurance regulator in China has fully liberalized pricing for life insurance products, aiming to encourage more market-driven competition among insurers.
The policy, taking effect next month, allows insurers to set up their own interest rate for dividend-paying life insurance products, which previously ware capped by the regulator at around 2.5 percent.
The regulator has already liberalized interest rates for term and universal life insurance products.
Industry analysts say the move will likely increase the operating costs for life insurers as competition will lead to higher interest rates for the products.
Official number shows total premiums within the country's life insurance sector reached 620 billion yuan, or nearly 100 billion U.S. dollars, in the first seven months of the year.
China signs RMB business MoU with Zambia
China's central bank has announced the signing of a memorandum of understanding on renminbi clearing with the Bank of Zambia.
Following the memorandum, China will soon designate a renminbi clearing bank in Zambia.
The move will facilitate cross-border transactions using the Chinese currency and boost bilateral trade and investment.
Zambia has been active in promoting the use of renminbi in cross-border trade and investment.
China to deliver 500 new-energy buses to Thailand
Chinese bus maker BONLUCK will deliver 500 new energy buses to Thailand by the end of this year.
The gas buses were ordered by a Bangkok bus company in a 50-million dollar deal signed in 2014.
The buses are designed to carry a maximum of 100 passengers each.
The Jiangxi-based company has been exploring new markets outside China.
A deal to export 100 buses to Turkmenistan in Central Asia was signed earlier this year.
Free trade zone's successes and potential
Today marks the 2-year anniversary of the Shanghai Free Trade Zone.
The zone is designed as a testing ground for deregulation and market-opening reforms here in China.
If successful, the FTZ format is expected to be rolled out nationwide.
By September, 26-thousand new companies had been set up in the zone, with nearly 20 percent of these being foreign-funded ventures.
The proportion of companies involving overseas capital is increasing steadily.
In April, the zone officially quadrupled in size, with officials pledging to strive for an ever-greater level of openness.
For more on the achievements and the future of the Shanghai Pilot Free Trade Zone, CRI's Spencer Musick earlier spoke with Gao Shang, analyst with Guantong Futures.
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Back Anchor:
That was Gao Shang, analyst with Guantong Futures speaking with CRI's Spencer Musick.
IMF warns of slower economic growth for commodities exporters
The International Monetary Fund has warned of slower economic growth for commodity exporters over the next two years, against the background of falling commodities prices.
According to IMF research, countries exporting oil and other energy products may be affected twice as bad as other nations.
The IMF economists say exchange rate flexibility can help support the commodity exporters to offset the impact from the falling prices.
But it also points out the reduced commodity-based fiscal revenues and slower potential growth will constrain their scope in deploying fiscal policy to counter the price drops.
India cuts lending rate by 50 basis points
India's central bank has cut its short-term lending rate by 50 basis points, reaching a four-year low.
The move will allow commercial banks to lower their own lending rates for personal, automobile, housing and commercial loans.
The Indian central bank governor has been under pressure from the finance ministry as well as the industry to cut interest rates to spur the economic recovery, as inflation is running at record lows.
Yahoo to spin off Alibaba stake despite tax question
Yahoo has notified US regulators that it is proceeding with plans to spin off its multi-billion-dollar stake in Alibaba despite the unanswered question of what the tax bill could be.
Yahoo's board of directors has authorized the company to pursue the transaction "as previously disclosed, and says the completion of the spin-off will not be conditioned upon receipt of a favorable ruling from the IRS.
Early in September, the Internal Revenue Service refused to promise that the Internet pioneer's plan for spinning off its Alibaba holdings will sidestep US taxes.
The IRS declined a request for a preliminary ruling that the spin-off satisfies requirements for avoiding taxes on the multi-billion-dollar stake in Alibaba.
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