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Beijing is anxious about certain popular short-video apps and online games that have been blamed for causing internet addiction and poor eyesight among young people. Chinese discount online retailer Vipshop has announced that it will pay 2. But investors were skeptical with stock in New York-listed Vipshop Holdings closing 7.

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Founded in , the company counts internet giant Tencent and e-commerce company JD. Related: Tencent, JD. Chinese telecom equipment maker ZTE has opened a cybersecurity lab in Brussels to promote security "transparency," the company announced Wednesday. The announcement comes after fellow Chinese telecom company Huawei opened a similar facility in the Belgian capital four months ago, to demonstrate the security of its products in a facility based in the European Union, where data is strictly protected under the General Data Protection Regulation.

According to ZTE, the new lab allows visitors to review its source code — a promise also made by Huawei.

The company was put under a U. After the ban was eventually lifted in June, ZTE announced in the same month it had inked 25 5G commercial contracts globally. A new company, Dajia Insurance Group, was set up in June with registered capital of CISFC holds So far, the company has disposed of or is in the process of disposing of more than 1 trillion yuan of assets, Liang Tao, a vice chairman of the China Banking and Insurance Regulatory Commission CBIRC , said Thursday at a press briefing.

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China will expand a pilot program this year to transfer government holdings in state-owned enterprises to social security funds nationwide in response to concerns about the sustainability of the pension system. The move is a further implementation of a trial plan that was limited to a small number of central government-owned businesses in selected provinces. According to the timetable set in , the transfer should be completed in batches and as soon as possible after One reason for the slow progress in that existing state-owned shareholders were not willing to cooperate, Caixin learned.

Some provinces running deficits in their pension funds have been forced to borrow from other provinces to meet pension payments. An April report by the Chinese Academy of Social Sciences, a central government think tank, projected that the national social security fund would be depleted by Skyworth Group Co. The move comes as the industry is facing headwinds from sluggish sales, which have triggered a protracted price war in which TV-makers vie for market share. TV sales in China fell 1. Beyond that, a slew of tech brands, including LeEco and Xiaomi, have bet on smart TVs as the next big thing in how people get online.

These displays can access the internet without additional hardware, allowing users to shop, play games and pay their bills online from their living rooms. Smart TVs also typically tout low-price tags, which has sparked intense competition among domestic players. The event, dubbed the East-West Forum, will take place at an Anaheim hotel down the street from VidCon, a convention for fans of online influencers.

Tencent, owner of the all-purpose Chinese app WeChat, is trying to encourage more U.

Tencent, whose WeChat messaging service is used by a billion-plus people, has previously blocked links to Douyin. And IQiyi, a Netflix-style streaming service controlled by Baidu, is working on a competing app. In the first six months of , carmakers sold CAAM predicts growth of vehicle sales on the Chinese mainland will remain negative throughout the year.

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If the prediction is true, will be the second year in a row sales have fallen in more than two decades. The association hopes the government will implement more stimulus policies. The U. Ross did not elaborate on expected dates of the issuances, nor did he specify which products will meet the license requirements. President Trump declined to comment when asked by Caixin during the G20 summit whether it was possible to remove Huawei from the blacklist.


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Read more on Huawei. Hong Kong-listed online ticket service and entertainment enterprise Maoyan Entertainment is now in an official alliance with Tencent to expand product portfolios in more entertainment sectors, according to an official statement released Tuesday. Though the tie-up was officially announced Tuesday, Maoyan has long been in partnership with Tencent in areas including advertising and content distribution. Tencent is a major shareholder of Maoyan, according to a stock filing. But such ambition will be tested by fierce competition and a slowing entertainment industry where even major players are struggling to sustain growth.

Walmart, Carrefour and Metro — these are the three big multinational retailers in China. But with Metro seeking to sell its local operations, as Carrefour did last month, Walmart has become the last one standing. Market watchers are now wondering if more foreign retailers are ready to give up on China, as their lack of local know-how and replication of business models from their home soil failed to compete with local peers. The reading marks the lowest point since August The consumer price index CPI rose 2.

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The Chinese government is revising a credit-score program for automakers currently in place that some complain too favorable to new-energy vehicles NEVs and has led to an increase in the actual fuel consumption of traditional vehicles. The new draft policy issued Tuesday by the Ministry of Industry and Information Technology aims to encourage the development of new-energy vehicles and at the same time to guide automakers not to ignore the energy-saving features of traditional-fuel vehicles.

Under current rules implemented in April , car companies are measured against a credit-score program tied to their production proportion of NEVs, including electric cars and plug-in hybrids.

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