May LPR Announced

China’s central bank announced the loan prime rate (LPR) for May on Wednesday. The rate held steady from the previous month, suggesting a temporary pause in the PBoC’s easing cycle. The PBoC does not set the LPR – it is calculated as an average of bids submitted by 18 banks each month. That said, the … Read more

Enhanced Responsibilities

WHILE CORPORATE Social Responsibility (CSR) was far from self-evident in China a decade ago, the number of companies in China running CSR programs jumped from 18 in 2006 to 600 in 2011. Increasingly, CSR is perceived as generating more resources and also providing more accountability, all of which translates into a perception of greater value … Read more

Government Encourages Consumption

The Chinese government is encouraging people to go on wild shopping sprees to help get the economy back on track. At its executive meeting on Tuesday, the State Council sought to promote online services to increase consumption. Many companies are also helping out, and are offering massive discounts and vouchers for shoppers. Many city governments, … Read more

Egypt Employment Forum

Chinese businesses that operate in Egypt recently held an employment forum at the Suez Canal University in Egypt’s Ismailia Province. About 15 Chinese companies including TEDA, Jushi, XD-EGEMAC and High Voltage Co. attended the forum, which was held in cooperation with the Chinese embassy in Cairo. “We hope for further cooperation with the Chinese side … Read more

Gaokao Exam Postponed

China’s Ministry of Education has announced that the country will delay its college entrance exam, the gaokao, by a month until early July. More than 10 million students will take the gaokao this year. The delay of this entrance exam comes as no surprise given the disruption to studies caused by COVID-19. This is great … Read more

BRI Supports Rwanda

Rwandan Ambassador to China Charles Kayonga believes that the Belt and Road Initiative (BRI) is an excellent platform that Africa can use to promote its business opportunities to the rest of the world. The initiative seeks to build a network of infrastructure connecting Asia, Europe and Africa through highways, bridges, sea ports and industrial parks. … Read more

China ODI Falls

China’s non-financial outbound direct investment (ODI) fell 41.8% YoY during the first eight months of the year. According to the Ministry of Commerce, during the period, Chinese companies invested in about 4,800 enterprises in 152 countries and regions. This investment was put mainly towards leasing and commercial services, manufacturing, wholesale and retail and IT sectors. … Read more

Copper Imports Fall

China’s unwrought copper imports slipped nearly 11% in May from the previous month, according to official customs data. During the first five months of the year, imports fell 9.4%, largely due to a relatively lower domestic copper financing rate. This fall comes as China continues to impose increasingly strict restrictions on imports of scrap copper. … Read more

Naza Eyes China

Naza Plantation Services Sdn Bhd., the agro-business arm of Naza Group of Companies, intends to establish a greater presence in China and to continue exploring other markets where it can send its tropical fruits. In the next five years, the company also wants to expand its land bank by around 810 hectares to plant more … Read more

Business Registration Improves

As of October 2017, China’s business registration process will become immensely easier. The State Administration for Industry and Commerce issued a report that outlined its digitization effort, which will involve constructing a nationwide digitized corporate registration platform and electronic business license. This change will lead to a significantly more efficient corporate registration process. The Beijing … Read more