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China accounts for 10 percent of its global sales revenue. "I'm expecting it to increase to 25 percent (in the near future)," Lorans said.
China aims to reduce taxes on businesses and individuals by more than 800 billion yuan this year.
China Merchants Securities Co said in a research note that it expects Apple to sell some 60 million to 70 million smartphones in the fourth quarter of 2018 and 38 million to 45 million in the first quarter of 2019, lower than previously forecast.
China UnionPay has banned mainland customers from using their bank cards to buy insurance products overseas other than accident and medical-related policies. But the restriction did not immediately cause any drop in new premiums for policies issued to mainland visitors last year. In the fourth quarter of last year, new policies sold to mainland customers reached a record high of HK.7 billion.
China Petroleum and Chemical Corp, or Sinopec, the world's largest refiner by volume, is enhancing its low-sulfur marine fuel oil production and distribution capabilities to make rapid strides in the global bunker market, analysts said.
