What’s happening with business in Beijing, every day at 5pm(ish).
Microsoft Said to Ask China to Stop Piracy at Four Firms – Bloomberg
Microsoft Corp. (MSFT)
to stop the alleged use of pirated versions of its Office software by China National Petroleum Corp. and three other state-owned companies, three people familiar with the situation said.
Central Banker Calls for Selling Bonds to Local Residents -
China’s central bank governor recently suggested that local government bond issuance should target local residents as investors in order to reduce default risks.
Building and Operating a China Factory — Even tougher than it sounds
Client of mine emailed me a post on starting a factory in China and asked me if it was accurate. I told him yes and, if anything, it had sugar-coated things. The post was Creating a factory in China to replace your suppliers
, on the Quality Inspection Tips Blog, and it essentially warned of the “huge” risks inherent in a foreign company starting its own factory in China.
Diageo’s $5,000 Johnnie Walker going down well in China | beyondbrics
Diageo’s “superdeluxe” Johnnie Walker whiskies – some of which sell for $3,000 to $5,000 for bespoke blends – are still slipping down the throats of mainlanders as smoothly as ever. Diageo says sales of its top whiskies have risen 40 to 50 per cent year on year for the past eight quarters and there is no sign that the Chinese are any less thirsty now, despite the mainland economic slowdown.
How Near To The Bottom? | China Bystander
The long-awaited sign that China’s economic slowdown has finally bottomed out, or just another step towards that trough? HSBC’s Flash China manufacturing purchasing managers’ index (PMI) stabilised in September, ticking up to 47.8 from its nine-month low in August of 47.6. There was also a broad steadying across the sub-indexes, though the one that measures output fell to its lowest level in 10 months.
Overdue loans pile pressure on lenders |Markets |chinadaily.com.cn
Chinese banks’ asset quality came under increased pressure in the first half as overdue loans rapidly piled up, according to a report released on Thursday by PricewaterhouseCoopers International Ltd.
China’s top 10 lenders’ outstanding overdue loans, an indicator of future non-performing loans, or NPLs, reached 489 billion yuan ($77.6billion) by the end of June, up 112.9 billion yuan from six months earlier, it said.
Dear Whatsapp, Aren’t You Threatened By WeChat?
Whatsapp no doubt was the app that started the wave of mobile messaging, timed pefectly to coincide with the rise of smartphones. It was clearly the leader. But as the race goes on, I’m starting to doubt if Whatsapp
can continue to stay at the top.
Baidu Renames Music Service on the Day Google China Kills Its Own
Well, this is weird timing: the corpse of Google Music for China, which was shut by Google earlier today
, is not even cold, and rival Baidu (NASDAQ:BIDU) has already jumped on the name, changing its own “Baidu Ting” service to the name “Baidu Music”.
China Unicom wrests domestic 3G market share｜Economy｜News｜WantChinaTimes.com
A China Unicom store in Shanghai. (Photo/Xinhua)
China Unicom, China’s second-largest mobile operator, added 3.07 million 3G subscribers in August, according to a statement filed on Thursday to the Shanghai Stock Exchange.
China should beware of short-term monetary fixes｜Editorials｜Opinion｜WantChinaTimes.com
Renminbi banknotes at a bank in China. (Photo/Xinhua)
The US Federal Reserve has just launched the third round of quantitative easing policy after lengthy consideration amid the pressure of persistently high unemployment. At the same time, China’s central bank last week bought 20 billion yuan (US$3.15 billion) in securities from selected banks with 28-day repurchase agreements even as the country faces a severe risk of economic downturn. The purpose was to cope with market capital demand for the upcoming “Golden Week” holiday period starting Oct. 1.
Posted from Diigo. The rest of my favorite links are here.