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China to slash import tariffs on cars

China will cut import tariffs on cars and auto parts by 15 percent to 25 percent from July 1, the Ministry of Finance announced. Read the full story at https://www.shine.cn/biz/auto/1805235054/ SOURCE: SHINE (3)

China’s energy development accelerates due to international cooperation

With the start-up of its second ethylene cracker in south China this month, the cooperation between China National Offshore Oil Corporation (CNOOC) and Shell Petrochemical Company entered a new stage. Read the full story at http://www.xinhuanet.com/english/2018-05/21/c_137193476.htm SOURCE: Xinhuanet (0)

BMW first foreign carmaker to receive self-driving road test license

China issued its first road test license to a foreign automobile firm granting BMW China Services Ltd permission to test its self-driving vehicles. Read the full story at https://www.shine.cn/biz/auto/1805154650/ SOURCE: SHINE (1)

China’s industrial output expansion beats expectations

Official data showed China’s industrial output expanded 7 percent in April, increasing from the 6-percent rise in the previous month. Read the full story at https://www.shine.cn/biz/economy/1805154628/ SOURCE: Shine (1)

China’s foreign trade up 8.9% in first 4 months

China’s goods trade rose 8.9 percent year-on-year to 9.11 trillion yuan (US$1.43 trillion) in the first four months of this year, customs data showed Tuesday. Read the full story at https://www.shine.cn/biz/economy/1805084261/ SOURCE: SHINE (0)

Alibaba purchases South Asia’s largest e-commerce platform Daraz Group

China’s e-commerce giant Alibaba Group acquired the entire share capital of Pakistan’s top and South Asia’s largest e-commerce platform Daraz Group. The purchase, for an undisclosed sum, will make Daraz a wholly owned component of Alibaba, operator of the popular Taobao and Tmall platforms. Read the full story at http://www.xinhuanet.com/english/2018-05/08/c_137164718.htm SOURCE: Xinhuanet (6)

China may buy more Indonesian palm oil

Editor’s Note: Palm oil is still a considerable export commodity for Malaysia and it looks as though China is looking to expand its palm oil imports. It’s certainly an avenue to be pursued by Malaysian palm oil producers. China is open to increasing its import quota of Indonesian palm oil by at least 500,000 tons, […]

Alibaba tops revenue forecasts, investments clip margins

Alibaba reported better than expected top line results, driven by strong sales in its commerce and cloud computing units, even as margins were squeezed by investments. Aleksandra Michalska reports. Watch the video at https://www.reuters.com/video/2018/05/04/alibaba-tops-revenue-forecasts-investmen?videoId=423908609&videoChannel=5&channelName=Business SOURCE: Reuters (2)

Xiaomi’s valuation is ‘quite a bit of a stretch’ now: Strategist

China’s Xiaomi has filed for the largest IPO since Alibaba. It comes at a time when it holds the ranking of the fourth biggest smartphone brand. However, Hao Hong of Bank of Communications International says Xiaomi’s stock is “very expensive” ahead of its IPO and may not be a very good price for latecomers. Watch […]

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