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China Flash

China and U.S. will Have a Constructive Relationship

U.S. President Donald Trump sent a greeting letter for China President Xi JinPing, according to foreign ministry spokesman Lu Kang said at a briefing. This move is highly appreciated. The statement mentioned, " China is willing to work with the U.S. in upholding the principles of non-confrontation, mutual respect, mutual benefit, managing differences, and promoting greater development of Sino-U.S. relations based on a healthy and stable foundation".

China's Direct Investment Globally Reached $14.5 Billion in 2016

China's direct investment in 53 countries amounted to $14.5 accordign to Sun Jiwen, spokesman of Ministry of Commerce. Contracts signed between Chinese enterprises and 61 countries involved in the trading initiative linking Asia and Europe reached to $126 billion in 2016.

PBOC Warned Bitcoin Exchanges on Money Laundering

Directors of multiple Bitcoin exchanges met with China's central bank in Beijing yesterday. Since value of Bicoin surged recently, investors are seeking to diversify their assets amid a weakening yuan. China's central bank warned them about oversight of digital currency and reiterated that money laundering activities were unacceptable.

Uber will Suspend Services in Taiwan

Uber announced that the company would suspend its services in Taiwan from February 10,2017 due to huge market cost. Uber has entered Taiwanese market 4 years ago. Taiwan's investment review committee stated in 2016 that they might ask Uber to withdraw from Taiwan market. According the Taiwan's officials, if Uber wants to continue its operations in Taiwan, they need to pay sales tax around $6.4 millions.

Chinese Companies Held 46% Lower-End Mobile Phone Market in India

According to research firm Counterpoint Research, Samsung topped the Indian market with 24% market share, followed by four Chinese firms. Vivo followed next with 10% market share; Xiaomi and Lenovo had 9% market share; and Oppo gained 8% market share. As for market with phones above $450, Apple held 62% market share. Comparing to overall market, Apple ranked 10th by market share in India.

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