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Alibaba Group fined $2.78 billion for abusing dominant market position

China's State Administration for Market Regulation (SAMR) has slapped a fine of 18.23 billion yuan ($2.78 billion) on Alibaba Group for indulging in a monopolistic act of abusing its dominant market position.

IMF upgrades global growth forecast to 6 pct, highlights divergence in recovery

The International Monetary Fund (IMF) on Tuesday (Apr. 6) projected that the global economy will grow by 6 percent in 2021, 0.5 percentage point above the January forecast, according to the latest World Economic Outlook (WEO).

US Supreme Court backs Google over Oracle in major copyright case

The U.S. Supreme Court handed Alphabet Inc's Google a major victory on Monday (Apr. 5), ruling that its use of Oracle Corp's software code to build the Android operating system that runs most of the world's smartphones did not violate federal copyright law.

Foreign investment in China climbs 81% in 2020 amid economic recovery

China last year attracted $520.6 billion of foreign investment, up by 81 percent from 2019, the State Administration of Foreign Exchange (SAFE) said in a report.

China explores digital yuan for cross-border transactions

China is exploring ways to use its digital yuan for cross-border transactions to meet market demand, the central bank said on Thursday (Apr. 1).

WTO says 2021 global trade recovery rests on vaccines

Global trade is set to grow by 8 percent in 2021, the World Trade Organization (WTO) said Wednesday (Mar. 31), stressing that the route out of the COVID-19 crisis rested on the rapid rollout of vaccines.

HKEX proposes easing listing rules to lure more overseas firms

Hong Kong's stock exchange proposed easing listing requirements to attract more overseas firms to sell shares in the financial hub.

Bilibili drops in HK debut as tech shares lose shine

Bilibili Inc fell on its debut in Hong Kong, becoming the latest US-traded Chinese mainland firm to disappoint on its homecoming during a global sell-off in the country's technology shares. Shares of the fast-growing video streaming service sank more than 6 percent early Monday (March 29).

Nike, Adidas face backlash after H&M on Xinjiang cotton issue

Nike has become the next target of Chinese netizens' rage after H&M for its stance over Xinjiang cotton supply issues. The hashtag #nike has become the biggest trending topic on China's Twitter-like social media platform Sina Weibo on Thursday (March 25) with 720 million views and 530,000 comments over its announcement outlining its boycott of Xinjiang cotton.

HK's financial system remains smooth operation despite COVID-19: Govt official

Hong Kong's financial system has been operating smoothly despite the COVID-19 pandemic and other global uncertainties, an official of the Hong Kong Special Administrative Region (HKSAR) government said Wednesday (March 24).

Elon Musk says China will become Tesla's largest market

China will become the largest market for Tesla, said Elon Musk, co-founder and CEO of the electric carmaker, in an exclusive interview with China Media Group (CMG) on the sidelines of the 2021 China Development Forum that concluded on Monday (Mar. 22).

Major Chinese state-owned banks begin promoting digital yuan wallets

China's six major state-owned banks started promoting digital yuan wallets in Shanghai. People can apply for a trial use of the wallets at the banks' outlets, the Shanghai Securities News reported on Tuesday (Mar. 23).

Bilibili 'set to raise US$2.6 bn in HK listing'

Chinese mainland online video site Bilibili Inc is set to raise HK$20.2 billion (US$2.6 billion) after pricing shares in its Hong Kong secondary listing at HK$808 each, three people with direct knowledge of the matter said.

HK's consumer prices rise 0.3% in February

Hong Kong's overall consumer prices rose 0.3 percent over the same month a year earlier, the Census and Statistics Department of the Hong Kong Special Administrative Region government announced on Monday (March 22).

China ratifies RCEP deal

China has finished ratifying the Regional Comprehensive Economic Partnership (RCEP) agreement, the Chinese Ministry of Commerce said Monday (March 22).
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