The author is research and advisory firm Celent's analyst Hua Zhang In 2012, the total personal wealth of China reached $9.5 trillion. We predict that in 2014, the total will hit $12 trillion. (China's 2013 GDP is reported to be $9.39 trillion.) The amount of trust assets increased from $321 billion in 2009 to $1,077 […]

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The US Congress has now carelessly blocked a long-awaited reform of the IMF, which would be bad enough if it were an isolated episode. But this was just the latest in a series of self-inflicted blows since the turn of the century that have needlessly u…

China installed a record 12 gigawatts of solar panels in 2013, the most solar power added in a single year by any country in history, according to Bloomberg New Energy Finance. The research and data firm says that the number may be as high as 14 gigawatts if including year-end activities. China’s solar projects are […]

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Bitter trade protection battle flares again over complaint that China is exploiting a loophole in measures to stop sales at illegally low prices

Chinese Internet video group Youku Tudou will provide video software services to smart TVs made by Haier. This is Youku Tudou's latest strategic cooperation with smart TV makers following its partnership with Shenzhen Coship Electronics formed at the end of 2013. With these moves, Youku Tudou Group intends to seize the opportunities in family TV […]

Beijing-headquartered Chinese sovereign wealth fund China Investment Corp. is to name executive vice president Li Keping as its next president, replacing long-term vice chairman and president Gao Xiqing, according to media reports. Gao is to retire as he has reached China's mandatory retirement age of 60. Li Keping is currently executive vice president and chief […]

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Shanghai-based Chinese conglomerate Fosun Group says it plans to launch a real estate joint venture fund with U.S. financial firm Prudential Financial, Inc. to invest in property projects in China's growing urban centers, according to a company release. The parties did not say how much capital this fund has secured. The joint fund will focus […]

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U.S.-based ITT Corporation announced plans to sponsor an engineering talent development program in China. Working in cooperation with local partners, including Science and Technology Daily and TusPark Company Ltd., the program will focus on accelerating the development of the engineering and manufacturing industry by cultivating China's engineering technology talent, improving research and development capabilities, and […]

About 40 percent of mass affluent customers in Asia now prefer online or mobile banking. Among those under 40 years of age, around half prefer digital banking, according to a report by consulting firm McKinsey & Company. Digital-banking consumers total 670 million in Asia today, and are expected to more than double to become 1.7 […]

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The euro area’s purchasing managers’ index recorded a 31-month high, suggesting quickening recovery, while Chinese manufacturing data declined

The flash Markit/HSBC Purchasing Managers' Index (PMI) fell to 49.6 in January from December's final reading of 50.5, the first time the measure dropped below 50 since July 2013 when the initial reading came in at 47.7. The January reading is below market expectation of 50.3. A number below 50 signals contraction. "There has been […]

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