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Chinese banks are also reducing staff amid pressure on their earnings. Last year, the four largest Chinese banks narrowly avoided their first decline in combined annual profit since 2004, thanks to cost cuts and lower-than-expected charges for bad loans.
Chinese dairy giant Mengniu is to buy Australian infant formula company Bellamy. [Photo/IC]
Chinese law enforcement will enhance efforts to smash criminal gangs and crack down on fellow police officers who protect wrongdoers, the Ministry of Public Security said on Monday.
Chinese companies have taken steady steps in tapping into the German market. For instance, CATCL plans to build a battery plant in Erfurt and carmaker startups Byton and Nio have already built design centers in Munich.
Chinese e-commerce behemoth JD ranks at 181, up 80 places from 261 in 2017, with its revenue rising to .96 billion last year.