Apr 222016
China overtakes US as world’s largest business travel market

China’s business travel market has overtaken the United States to become the largest in the world, the Global Business Travel Association (GBTA) has revealed. According to the latest GBTA BTI Outlook for China, the Asian country edged ahead the US in terms of total business travel spending at the end of 2015, by US$1 billion. China’s business travel sector was worth US$291.2bn in 2015, compared with US$290.2bn in the US, but this gap is likely to continuing growing, with China’s business travel spending forecast to […]

Apr 222016
China to be largest video-game market in the world soon

China is expected to be the largest games market in the world, ahead of the US, whose anticipated market size is US$23.5 billion. Gamers worldwide are expected to generate a total of US$99.6 billion in revenue for the video games industry this year, an 8.5 per cent increase from 2015, with China accounting for a quarter of that income. That means the country has more than 314 million active mobile gamers, who are generating around US$5 billion worth of revenue for this specific market. Contributed […]

Apr 072016
China to overtake US as world’s top business travel market

This is the year to take stock of the corporate travel sector and the current trends in the Asia-Pacific as the region’s economic outlook continues to dominate global growth. The corporate travel spend in the region reached US$459 billion in 2014, with projected growth of 7.7 per cent in over the next five years. The China market is of particular interest. Despite lower oil prices and a shift away from public sector consumption towards individual consumption, China remains set to overtake the United States as […]

Dec 182015
Bangladesh to overtake China as the world’s biggest cotton importer

As China’s economy has grown, it has become the largest importer of raw materials from copper to iron ore. Yet for one commodity, at least, it’s poised to lose that title. Bangladesh will probably overtake China as the world’s biggest cotton importer in the current crop season, which lasts through July, according to data from the U.S. Department of Agriculture. Contributed By Sonia Narula

Oct 142015
China's middle class overtakes US as largest in the world: Report

China’s middle class has overtaken the United States to become the largest in the world according to a comprehensive new report on the distribution of global wealth. Despite fears of a global growth slowdown in the emerging world, Asia is set to be the scene for the greatest expansion of the world’s middle class, said Credit Suisse, in its annual wealth report. China now accounts for a fifth of the world population, while holding nearly 10pc of the global wealth. Contributed By Sonia Narula

Oct 072015
China's Goldin Finance 117, becomes world's second tallest building

The world’s second tallest building was capped this week in Tianjin, north eastern China. China 117 Tower, also known as Goldin Finance 117, has been capped at 1,957 feet high on September 8, reported People’s Daily Online. It is currently the tallest building in China and is dwarfed only by the world’s tallest building Burj Khalifa in Dubai. The building was first proposed in 2008. Building work began back in 2009 and is due to be completed in 2016. Its final structure has been described […]

Sep 262015
Chengdu, a metropolis in southwest China, becomes world's top tourist destination

Chengdu, a metropolis in southwest China as a world tourist destination and shopping center, is expected to have more global visitors. New York Times recommended in January 52 places to go in 2015, with Chengdu one of the must-gos. More than a hundred giant pandas reside in Chengdu Research Base of Giant Panda Breeding, a center took its start in 1987 when six wild pandas were rescued. Now it is a non-profit organization specializing in panda protection, research and breeding. Contributed By Sonia Narula

Jul 172015
China becomes the world's biggest ice cream market

One third of all ice cream bought globally is consumed in China, which became the largest ice cream market in the world in 2014, beating the US by a lick with $11.4bn in sales compared with $11.2bn. Ice cream sales in the US are on track to catch up to $11.4bn this year, by which point China will have reached $12.6bn as its growing middle class enjoys higher disposable incomes while increasingly health conscious Western consumers weigh on developed markets. Chinese people spent 54pc more […]

Jun 262015
China to become the world’s biggest cross-border investor by 2020: New research

China will become the world’s biggest cross-border investor by the end of this decade, with global offshore assets tripling from $6.4tn presently to nearly $20tn by 2020, according to new research. While much of the total will be in the form of foreign exchange reserves and portfolio investment, a growing share will come from direct Chinese investment in developed western countries, according to a joint report by the economic research firm Rhodium Group and the Berlin-based Mercator Institute for China Studies. Contributed By Sonia Narula

Jun 182015
Nearly half of the world's population lives in China, India, Japan, South Korea and Australia

Nearly half of the world’s population lives in China, India, Japan, South Korea, Australia, New Zealand, and the ten member states of the Association of Southeast Asian Nations (ASEAN), which have a combined GDP of $21.2 trillion. More importantly, these countries all also happen to be part of the proposed Regional Comprehensive Economic Partnership (RCEP), a “mega-regional” trade agreement. Still, overall, “their anticipated depth and breadth of coverage could promote structural reform across much of the world economy Contributed By Sonia Narula

May 282015
China to overtake US as world’s largest crude importer by 2017: Report

China is expected to become the world’s largest crude importer by 2017, beating the US, which is expected to cut its crude intake from abroad amid robust domestic oil and shale gas production, industry sources said. Demand for crude in China, meanwhile, is expected to outpace its domestic production, necessitating higher imports. In April, China’s daily average volume of crude imports hit a record high at 7.37m barrels, exceeding the volumes imported by the US for the first time, based on official data from the […]

May 162015
China to replace the US as world’s largest aviation market

The world airline industry is entering a period of rapid change and China’s carriers may well be the ones to replace US airlines as the international air travel market leaders, according to a new report by aviation intelligence specialist OAG. According to OAG’s Schedules Analyser, passenger seat capacity of China’s carriers – dominated by China Southern, China Eastern and Air China – has increased dramatically from approximately 100 million seats in 1996 to some 600 million in 2014. This has largely been a result of […]

Apr 252015
China to become world’s top market for mobile games by 2016

Everybody knows that mobile gaming is big in China. How big? Big enough that, according to a white paper released today by GMGC, China will become the top global market for mobile games by 2016. Citing data from Newzoo Global Games Market Premium, the white paper estimates that mobile gaming revenues in 2015 will hit US$6.1 billion – just below the US’s projected revenues for this year at US$6.3 billion. But in 2016 China is expected to blow past the US for the first time […]

China’s yuan becomes one of the top 5 most-used currencies in the world: SWIFT

 World News  Comments Off on China’s yuan becomes one of the top 5 most-used currencies in the world: SWIFT
Jan 292015
China’s yuan becomes one of the top 5 most-used currencies in the world: SWIFT

China’s yuan has become one of the top five most-used currencies in the world, overtaking the Canadian dollar and the Australian dollar, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), an international financial transactions agency. The yuan ranked fifth, accounting for a record 2.17 percent of global payments in December, up from 1.59 percent in October. The yuan was preceded by the Japanese yen with 2.69 percent, while the U.S. dollar topped the chart with 44.6 percent, followed by the euro and the […]