China is fast embracing the sharing economy, having come up with its own innovative resource sharing platforms to rival foreign counterparts such as Uber and Airbnb. According to a report published by China’s State Information Center, the sharing economy is expected to maintain a 40% annual growth rate over the next few years, and is...
China is embracing green bonds as part of its efforts to combat the country’s notorious pollution problems. China Securities Regulatory Commission (CSRC), the main regulator of the securities industry in China, released a new set of guidelines to support the issuance of green bonds on March 2, 2017. Promoting green bonds could be considered the...
Recently, the city of Wuhan announced that they will be opening a police station run solely by artificial intelligence (AI), no employees need apply. Although the station would be limited to vehicle and driver related administrative work, the government anticipates increasing AI use in many other areas of governance. Automated government offices like these are...
Traditional financial centers such as London and New York are witnessing increased competition from Chinese cities like Shanghai and Shenzhen with the rise of FinTech. While China’s traditional financial sector is relatively undeveloped and restricted from foreign participation, the country’s Internet Finance, or Financial Technology (FinTech), industry has developed rapidly in recent years with an...
Foreign investors that would like to understand the senior care sector in China may find a comparison to the hospitality sector helpful. The hospitality sector boomed over the past 30 years as the Chinese economy grew and visitors poured in. Chinese real estate players rushed into the sector, and they absolutely wanted to work with...
With cross border e-Commerce (CBEC) taking an increasing bigger share of the total import and export market, it is of no surprise that the government has taken CBEC regulations more seriously. As consumer complaints and industry speculation over unfair competition increase, regulatory authorities have taken notice. Foreign companies seeking to pursue business opportunities in China’s...
China’s Belt and Road Initiative offers “many benefits” and “more investment” for Latin America, according to the head of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). Regional countries are beginning to assess the possibility of participating in this “great project,” in which China “has a lot to offer” in the...
President Donald Trump on Tuesday linked his decision to continue backing Saudi Arabia — despite the murder of a U.S. resident by Saudi agents — to his desire to keep oil prices low. “Saudi Arabia, if we broke with them, I think your oil prices would go through the roof,” Trump told reporters on Tuesday....
U.S. homebuilding rose in October amid a rebound in multifamily housing projects, but construction of single-family homes fell for a second straight month, suggesting the housing market remained mired in weakness as mortgage rates march higher. Other details of the report published by the Commerce Department on Tuesday were also soft. Building permits declined last...
President Donald Trump’s attacks on Federal Reserve Chairman Jerome Powell aren’t popular with one important polling group within the markets: chief financial officers. Four in five North American members of CNBC’s Global CFO Council support Federal Reserve Chair Jerome Powell’s handling of the economy versus only a third who approve of Trump‘s handling of the...