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Online payment in China rises

China's online payment value nearly doubled from a year ago with increasing number of users shopping online, a latest research report from an Internet consultancy showed. The online payment market totaled US$212.1 billion yuan (US$31.1 billion) in the first quarter, a 93.5 ...

China Post makes foray into online shopping

State-owned China Post is building an online shopping website with a Chinese portal. Ule, the site China Post co-founded with tom.com, is to be launched August 10. Ule has been on a test run for about one year, according to a tom.com marketing staffer named Jiang Feng. But most ...

Netizens in Taiwan Each Spend 465 U.S. dollars Online

Netizens in Taiwan spent an average of 13,864 New Taiwan dollars (about 465 U.S. dollars) each person shopping online this year, up from 329 U.S. dollars for last year, a survey shows. Around 63.9 percent of Taiwan netizens made online purchases this year, five percent more than ...

Chinese investment changes face of downtown Harare

Downtown Harare has assumed a new image characterized by clean, spruced up buildings that now house mostly small to medium Chinese retail firms. Most commercial buildings s in downtown Harare had become an eyesore in recent years as landlords struggled to maintain them due to the ...

Alibaba to help U.S. students in e-commerce job creation

Alibaba Group, China's largest e-commerce company, said Saturday it will invest 3 million U.S. dollars to help U.S. college students in e-commerce job creation. The "Schwarzenegger Emerging Entrepreneur Initiative," named after California Governor Arnold Schwarzenegger, will ...

Private mail gets slapped with fat customs duty

Private mail will face higher duties under new customs regulations that take effect today, a move widely expected to hamper haiwai daigou, or representative overseas shopping services. The General Administration of Customs will collect duties if the import duty payable on ...

Apple Opens China App Store

Rewritten by Tom Pauken On Tuesday, Apple Inc. announced that it launched an online store and a simplified Chinese version of its App Store for consumers in China, the most recent move in an aggressive expansion by the corporation after neglecting the market for a number of years...

London's luxury brands eye Chinese travelers

New West End Company, the management agency of luxury goods retailers on London's Bond Street, has launched an initiative called London Luxury to encourage more Chinese travelers to splurge in the city's luxury shopping district. "We expect Chinese visitors will spend 120 million ...

Chinese Tighten Their Belts as Inflation Quickens

Take a shower once a week and save the water to wash the clothes and then flush your toilet. That's the advice handed out by the "Kou Kou Zu" website to the growing number of Chinese who are struggling to make ends meet. Kou Kou Zu, or the stingy group, was established in July ...

"Container Supermarkets" Appear in Rural Areas in E. China

What can discarded containers do? A Chinese businessman has turned them into small supermarkets in rural areas in east China's Zhejiang Province. A new orange-colored cube has appeared in Yunlong Village in Changhe Township in Binjiang District of Hangzhou, capital of Zhejiang ...

Urban Women Catch Shopping Fever: Survey

Urban Chinese women are spending more and saving less as they poured 63 percent of their incomes into consumer goods ranging from clothes to cosmetics last year, a poll has found. Also, women saved only 24 percent of their incomes last year, according to the survey released on ...

More Mainland Homebuyers Invest in Hong Kong Units

The Chinese mainland's efforts to prevent housing bubbles in cities such as Shenzhen, the country's first special economic zone, have prompted more mainlanders to buy apartments in neighboring Hong Kong, while hampering the special administrative region's own battle to curb a 50...

Vuvuzela sounds clarion call for China's manufacturers

At the South Africa World Cup, the ubiquitous buzzing of vuvuzelas has triggered complaints from both players and television audiences -- despite their widespread popularity. While the vuvuzela is widely seen as a South African tradition, few people know that 90 percent of the ...

PayPal joins in Chinese venture

EBay Inc's PayPal business has agreed to help set up an international e-commerce hub in southwestern China as more foreign companies cash in on the country's fast-growing Internet sales market. Paypal and the Chong-qing municipality have signed a deal to jointly develop a foreign ...

China Post, Tom team up for e-commerce unit

China Post on Tuesday formed a partnership with Internet company Tom Group to jointly launch an online shopping website, in an effort to cash in on the nation's booming e-commerce industry. The new online platform, Ule.com.cn, will be 51 percent owned by China Post. Tom Group ...

Working Long Hours for Home Deals

Six days a week, Hank Liu, a 27-year-old real estate agent, is in his office on Changning Road by 9am and rarely gets home earlier than 9pm. For nearly two years, the Hubei Province native hasn't been able to kick back and enjoy a lazy weekend in his small, rented apartment in ...

Taobao bans trade in tickets for TV's Spring Festival Gala

Sellers offering tickets for CCTV's annual Spring Festival Gala on online platform Taobao.com have been banned after the website found the free tickets being sold at prices up to 30,000 yuan (US$4,524) each. Taobao officials said that all the online shops offering the tickets had ...

Online Shops Facing Registration, Taxation

Both running an online store and shopping at one would become more expensive for owners and shoppers alike if a new government proposal to register web businesses takes effect. Citing consumer rights protection and the need to fight fraud, the State Administration of Industry and ...

Online Shopping Boom in China

by Xinhua writer Rong Jiaojiao Shi Fang spends more than 4,000 yuan (588 U.S. dollars) a month shopping, but she rarely goes to the shopping mall. "Why need a shopping mall if you have Taobao? I am a Taobaoer," says Shi, 28, a freelance writer in Beijing. Taobao, China's largest ...

CIC buys stake in New York tower in US property push

China Investment Corp (CIC) helped refinance a Manhattan office tower co-owned by Carlyle Group last year, another sign that the $300 billion sovereign wealth fund is stepping up its US real estate investments. CIC joined forces with AREA Real Estate Finance Corp of New York to ...
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china

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world

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finance

company

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industry

trade

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