Hyundai and Kia Motors reportedly changed their China executives after sales in China significantly reduced. The company plans to improve its selling strategies to cope with the ever-changing needs of the Chinese market with the help of new executives.
China
China's Yuan up on suspected intervention, set for August loss
The marginal rise in Chinese currency Yuan on Monday is believed to be the extended support by the central bank of the world's second largest economy.
Uber Closing In on $1B Fundraising Campaign
Uber Technologies China is drawing near their $1 billion goal of raising funds to help support their fight against wealthier Chinese rival Didi Kuaidi Joint Co.
China raises counterfeiting to the next level with a fake Goldman Sachs
The fake financial company goes by the name "Goldman Sachs (Shenzhen) Financial Leasing Co" and holds office in Shenzhen. Little was known of the counterfeit institution but before its web site went down on Wednesday, it claimed to have been established in 2013. It also makes itself more likable by saying that it is "the biggest financial leasing firm" in the place.
China infuses GBP 14B emergency funds into banking system to bridge gap of cash supply position
Underlining the erupting problem of liquidity crunch in its financial system, the world's second largest economy's central bank the 'People's Bank of China' has released GBP14 billion emergency funds into the domestic banking system to support the cash supply mechanism.
Latest News
China's main Shanghai stock index finish higher Wednesday, but other stock markets were mostly lower as investors are anxious about the volatile Chinese market.
The Chinese stock market is registering a volatile trading pattern as investors became nervous about the future course of the market. The slowdown in the dragon country's economy growth has become a cause of concern for the investors.
Due to a series of explosions leaving hundreds of people death and others injured, while some are still missing, China is about to start a wave of insurance claims.
Though China's growth rate is slowing down, the world's second-largest economy can bounce back to regain the momentum and manage the risks involved, observes International Monetary Fund (IMF).
Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world's second-largest economy.
China's Anbang Insurance Group Co is bidding to buy Japanese property asset manager Simplex Investment Advisors, four people with knowledge of the bid said, in a deal that could top $1 billion.
Lens Technology is a $7.2B worth glass screen business in China. The company provides glass screens to top labels like Samsung, Windows and Apple and had made a public offer in March. It is owned and founded by Zhou Qunfei, the richest self-made woman in China who used to work as a factory worker.
Downward pressure on China's economy will persist in the second half of the year as growth in infrastructure spending and exports is unlikely to pick up, a senior central bank official was quoted as saying.
China needs to ensure that risks presented by a slowing economy do not morph into social risks, the state planner said on Friday, acknowledging the problems the country faces should unemployment rise.
