Bond sales down more than 5% in January-February

China's bond offerings decreased 5.1 percent year-on-year to 992.26 billion yuan ($159.9 billion) in January and February, data from the People's Bank of China, the nation's central bank, showed on Tuesday. On the interbank market, China's largest over-the-counter market, bond sales declined 4.7 percent year-on-year to 970.83 billion yuan. In February, overall 588.09 billion yuan of bonds were issued, up 15.7 percent on year and 45.5 percent over January.

JD.com to merge Tencent's e-commerce business

A detailed plan by JD.com Inc, China's second-largest online retailer by market share, to merge with the e-commerce business of Tencent Holdings Ltd after the two Internet firms set up a strategic partnership in early March was leaked on Tuesday. Under the agreement the pair inked earlier, the Shenzhen-based Internet giant Tencent will take a 15 percent stake in Beijing-based JD.com, and JD will acquire the less popular online shopping platforms wanggou.com, paipai.com and yixun.com from Tencent.

China to remain global container manufacturing hub

Although the growth rate of global shipping container manufacturing has slowed to single digits, China will remain the largest container manufacturing country, a leading container producer said on Tuesday. China contributed to more than 96 percent of the global shipping container supply in 2013, with almost all of it fully made in China, Huang Tianhua, assistant president of China International Marine Containers (Group) Ltd (CIMC), said at a press briefing on Tuesday.

China Southern continues Malaysia code-shares

China Southern Airlines Co, which has code-share deals with Malaysia Airlines, will not cease its code-sharing partnership with the Malaysian carrier, the chairman of China Southern said on Monday. "It is a usual practice in the international aviation industry for two airlines to share codes, and China Southern will not stop the cooperation because of the MH370 issue," Si Xianmin, chairman of China Southern, said at a news briefing in Hong Kong on Monday. Search efforts for Malaysia's missing Beijing-bound flight MH370 continue in the Indian Ocean.

Seven regions raise minimum wage standards

Seven regions across China have raised their minimum wage standards so far this year, with Shanghai's standard leading the nation, according to statistics from local governments. The regions are Chongqing, Shaanxi, Shandong, Beijing, Tianjin, Shenzhen and Shanghai. With a minimum monthly payment requirement of 1,820 yuan ($290) and a minimum hourly rate of 17 yuan, Shanghai topped the nation. Shenzhen followed with a minimum monthly payment requirement of 1,808 yuan and minimum hourly pay of 16.5 yuan.

Robots designed to replace high-rise window cleaners

Greenhub Technology, a cleaning solution provider in China, plans to launch a production base in Hai'an, Jiangsu province, to manufacture robot wall cleaners. The device will replace the traditional cleaning method in which workers dangle in midair to clean glass curtain walls on high-rise buildings. Its first sample product is being showcased at the China Clean Expo, which is set to close at the Shanghai World Expo Exhibition Hall on Wednesday.

Shanghai FTZ reviews paperless declarations

Shanghai customs has started a paperless declaration review in the China (Shanghai) Pilot Free Trade Zone to save time and costs for businesses and to explore models that can be reproduced nationwide. The practice, which started in March, allows corporate representatives to send digital copies of documents to the customs department to declare goods, said Lu Xiangqing, deputy director of customs for the Shanghai Waigaoqiao Free Trade Zone, in a recent interview with China Daily.

(China Daily USA 04/02/2014 page14)