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Chinese regulators took control of Anbang Insurance Group, a private Chinese conglomerate best known for acquiring the Waldorf Astoria hotel in New York, on Friday as its former chairman, Wu Xiaohui, is being prosecuted for economic crimes.
Chinese consumers' brand awareness and concepts of quality have become increasingly mature. Growing awareness of what's available to consumers in other markets has led consumers to prefer buying high-quality products from overseas vendors, the report said.
Chinese banks, which have foreign currency-denominated businesses based on the Libor reference, have to face the same problems as other international banks in revising the old contracts and hedging risks.
Chinese internet search giant Baidu Inc's quarterly financial earnings topped analysts' forecasts, owing to the growth from its online advertising business.
Chinese people's incomes have increased significantly in recent years and they will become richer in the next five years. Opening up to the world has brought dramatic changes to the coastal regions, which have been more developed that the inland areas. I believe that in the coming five years, the gap between coastal and inland regions will be narrowed.
来源：资阳报