China’s online retail giant Alibaba says it has seen nearly $7bn (£4.4bn) of sales so far from its annual ‘Singles’ Day’ shopping event.
Seventeen hours in, the firm said sales had already hit $6.96bn, with industry analysts predicting that sales could surpass $8bn this year.
Last year, Alibaba recorded sales of $5.75bn and shipped more than 150 million packages.
Continue reading Alibaba’s Singles’ Day sales near $7bn →
Soil conditions across China are grim, with some regions seeing serious contamination, according to a nationwide soil pollution survey conducted by the country’s environmental watchdog.
Pollution of land abandoned by industrial and mineral enterprises is especially severe, the survey said.
Continue reading Soil survey paints China’s sobering pollution picture →
China is on course this year to build four times the total wind power installed in all of Denmark as developers push to build the turbines ahead of cuts to incentives originally designed to spur the industry.
Continue reading China rushes to harness wind with government help →
Russia’s President Vladimir Putin has signed a multi-billion dollar, 30-year gas deal with China.
The deal between Russia’s Gazprom and China National Petroleum Corp (CNPC) has been 10 years in the making. Continue reading Russia signs 30-year gas deal with China →
Lee Beng-Hong, head of markets at Deutsche Bank China, rescheduled his interview with China Daily three times. He flies across the country to meet clients and business partners who want ever more to move the yuan in their pocket over the border. Continue reading Chinese yuan, ever-more a global currency →
On Monday the China Railway Construction Corp signed a $13.1 billion deal with the Nigerian Ministry of Transport to build a high-speed coastal railway in Nigeria, one of the largest foreign railway projects China has ever signed.
Under the contract, the company will build a 1,385-km single-track line for trains that will run at up to 120 km an hour. “The coastal railway will boost the export of Nigeria’s oil products. Additionally, as a significant part of the Western Africa railway network, it will also drive regional economic development,” said the head of the Railway Bureau of Nigeria.
President Xi Jinping on Friday called for effective measures to prevent the ongoing campaign that aims to improve work style of officials from turning into “half-cooked rice.”
The campaign should not be reduced to a mere formality or conducted in a perfunctory way, Xi told Lankao County officials in central China’s Henan Province.
Chinese internet giant Alibaba filed for an initial public offering in the United States on Tuesday in what could become one of the biggest IPOs ever.