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Last two wanted for telecom fraud surrender

Edit China Daily 29 Aug 2016
According to media reports, another Linyi student identified as Song Zhenning also died after falling victim to a different telecom fraud, while Li Xiaqin, a sophomore from Linyi, said she had been conned out of 6,800 yuan on the same day Xu was targeted ... Li said the rapid development of the internet has brought not only convenience, but also security concerns....

Disney creates new property theme

Edit China Daily 29 Aug 2016
Such properties now fetch about 35 yuan per square meter per day, a rate that a third-floor store in a high-end commercial complex in central Shanghai would command. This is far beyond Guan's budget of some 20 yuan. Five years ago, rental was about 8 yuan, according to Mingtiandi Consultancy, a realty services provider ... Its average daily revenue was about 15 million yuan ... In May, rent averaged 31 yuan per sq m per day....

Auto veteran leads startup for mass-market e-car

Edit China Daily 29 Aug 2016
"We don't want to make toy-like luxury cars for the minority ... Chehejia, founded by internet entrepreneur Li Xiang, said on Aug 10 it began constructing an assembly plant with eventual capacity to make 300,000 vehicles a year. Just hours later LeEco, backed by billionaire Jia Yueting, announced plans to invest as much as 20 billion yuan ($3 billion) in a vehicle plant in eastern China and an auto theme park ... Bloomberg ....

Exploding world of Shanghai's resorts and hotels

Edit China Daily 29 Aug 2016
The two in-house Disney hotels in Shanghai receive 1,000 tourists per day who spend 2,950 yuan each on average. That is, the two hotels gross around 3 million yuan in daily revenue on average occupancy rate of 95 percent, higher than the city's average of 70 percent, according to the Shanghai Tourism Bureau ... A branded budget hotel chain 1.5 km from Disney now charges 700 yuan per night for a room, up about 120 percent from August 2015....

Bellboy now manages 15 of Wanda's hotels in China

Edit China Daily 29 Aug 2016
Built at a cost of more than 3 billion yuan ($452 million), Wanda Reign is the most expensive hotel ever built in China. Owned by China's richest man Wang Jianlin, the founder and chairman of Wanda Group, the hotel features 193 rooms that come with art-deco designs and rates starting from 2,970 yuan per night, the highest in the city ... Wanda Reign boasts a vast collection of art pieces that is valued at 70 million yuan....

All 'A' eyes are on Wanda realty arm before re-listing

Edit China Daily 29 Aug 2016
"Mainland investors, including existing A-share companies that are part-funding the Hong Kong delisting and potential shell firms that the Wanda group company may need if it decides to have a backdoor listing, will eye shares in Dalian Wanda Commercial Properties," said Ma Wenya, general manager of Sunday Fund Co Ltd, which manages assets worth 300 million yuan....

Car plate success rate down (Shanghai Municipal Government)

Edit Public Technologies 29 Aug 2016
(Source. Shanghai Municipal Government). The August car plate auction saw a success rate of 4.6 percent, down 0.2 percent from a month ago ... The lowest winning bid was 86,900 yuan (US$13,030) with the average 86,946 yuan ... (noodl. 35113176) ....

Advertising broke child photo law (Shanghai Municipal Government)

Edit Public Technologies 29 Aug 2016
An English training center in Changning District has been fined 400,000 yuan (US$61,538) for illegally featuring young children in its advertisements, Shanghai's market watchdog said yesterday ... cases and imposed fines totaling 81.14 million yuan since September last year....

China's top 500 firms report first revenue decline in 15 yrs

Edit China Daily 29 Aug 2016
Meanwhile, 72 firms reported losses, 15 more than a year ago ... The State Grid grabbed the top spot with 2.07 trillion yuan ($310 billion) in revenue, with oil giants China National Petroleum Corp and Sinopec ranking second and third ... Revenues of the top 500 totaled 59.46 trillion yuan ($8.9 trillion) last year ... ....

Stop risky overseas acquisitions

Edit China Daily 29 Aug 2016
China's two State-owned oil giants, China National Petroleum and China National Offshore Oil Corporation, recently made public their profits for the first half of this year. CNPC made a net profit of only 531 million yuan ($79.6 million), a decline of 98 percent year-on-year, while CNOOC suffered a loss of 7.74 billion yuan; its first half-year loss since 2001 ... -Beijing Youth Daily ....

Warren Buffett-Backed BYD's Profit Soars On New Energy Vehicle Sales

Edit Forbes 29 Aug 2016
Net profit at BYD, the Chinese auto and battery maker about 8% owned by Warren Buffett’s Berkshire Hathaway, soared by 384% to 2.3 billion yuan, or $348 million, in the six months of the year as the company benefitted from government incentives for the purchase of new energy vehicles. Sales of [...] ... ....

Neighbors share willingness to improve their ties

Edit China Daily 29 Aug 2016
Chinese Foreign Minister Wang Yi's less than 48-hour stay in Tokyo last week was full of meetings ... When Shotaro Yachi, Abe's key foreign policy adviser and the secretariat head of Japan's National Security Council, visited Beijing and met with Premier Li Keqiang and State Councilor Yang Jiechi on Thursday, Li told him that efforts should be made to bring bilateral relations back on the track of normal development ...   ....

Tibet veteran named new Party chief

Edit China Daily 29 Aug 2016
Wu Yingjie has been appointed as Party chief of the Tibet autonomous region by the Communist Party of China Central Committee, Xinhua News Agency reported ... Chen, who replaces Li Jiheng, was vice-president of the All-China Federation of Labor from 2011 to 2014 and had been the deputy Party chief and the governor of Yunnan since 2014. ....
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