China Internet Network Information Center (CNNIC) recently released two reports on China’s mobile Internet, according to the reports, by the end of 2008, there were already over 640 million mobile phone users in China, and the number of users who access the Internet via mobile phone already exceeded 117.6 million, according to the Research Report on Behavior of Internet Access via Mobile Phone released by the China Internet Network Information Center (CNNIC) on February 18 in Beijing…
Tag: Hong Kong
Shanghai made it to 4th place in Forbes’ list of the world’s tallest cities with a total of 21 towers climbing over 700 feet. The current tallest is the Shanghai World Financial Center, at 1,614 feet, but it’ll be surpassed by the Shanghai Tower, which is expected to be completed in 2014 and reach heights of 2,000 feet. It was beat out by Dubai, Hong Kong and, at number one, New York City […]
Shanghai is set to be among the first to implement a pilot program to settle overseas trade using the Chinese RMB yuan to consolidate its international financial hub position, the Shanghai Financial Services Office said recently. Using the yuan as a settlement currency for international trade is a step forward to internationalizing the currency and will also boost Shanghai as an international financial hub. The city is a magnet for overseas financial players, home to the China headquarters of giants such as HSBC and Citigroup. The city also holds the mainland’s bigger stock market, biggest futures market, gold, currency and interbank markets…
Money is moving in a new direction in China — out: Some Chinese are so eager to turn their yuan into other assets that when an online real estate brokerage organized a tour of foreclosure auctions in the United States, it received so many applications that it had to turn away nearly 400 people. In Shanghai, cash-rich Chinese companies are buying high-yield bonds issued by distressed American companies at a time when most investors are steering clear of bonds even from solid companies […]
A recent survey by ECA International, a London-based human resources consultant, ranked Beijing as the 31st most expensive city for expatriates in the world, surpassing Hong Kong to become the most expensive city in China […]
Shanghai has a shortage of creative design talent, experts said at a forum at the China International Industry Fair recently. Chen Tianzhong, president of Wiselogic Investment Group, said in seven industries in Shanghai, including construction, advertising, light industry and multimedia, are eager to find more design personnel […]
China’s emerging middle-class buyers were set to generate significant spending power in coming years as more people wanted to buy “affordable luxuries,” according to marketing advisers in Hong Kong. The trend would be seen in not only first-tier cities like Shanghai and Beijing, but also their satellite towns and second-tier cities, the advisers told a recent business forum […]
Hong Kong full-time employees work an average of 48.8 hours every week, 22 percent more than the work time recommended by the International Labor Organization (ILO) , a survey released recently has found. The survey, commissioned by non-profit organization Community Business by random phone interviews in July/2008 with 1,011 full-time employees, also found that one third of the respondents said they would consider leaving their current job for a better work-life balance.
A Shanghai city court began hearing criminal charges recently against a gang accused of global trading in pirated software – at US$10 million-plus, the biggest case of copyright violation in Shanghai’s history. Nine defendants were brought before the Shanghai No. 1 Intermediate People’s Court in a trial that is expected to last two days…
India, China, and Brazil saw bigger growth in the millionaire population last year than anywhere else, and wealth in the Asia-Pacific is expected to grow nearly 8 percent a year to 2012 despite a slowdown in the world at large, a survey showed. The number of millionaires in the Asia-Pacific grew 8.7 percent from a year ago to 2.8 million people and their combined wealth soared 12.5 percent to $9.5 trillion US dollars, excluding the value of their homes and consumables, Merrill Lynch and Capgemini said at a news conference in Singapore recently…