P&G fined $1m in China over toothpaste advertisement
Consumer goods giant Procter & Gamble has been fined close to $1m in China for what Shanghai regulators said was false
advertising of its Crest toothpaste brand. They said P&G overstated the effects of its toothpaste in a TV ad featuring a popular
Taiwanese talk show host. Images in the ad were said to be digitally enhanced to show whiter teeth. Chinese media are reporting
the fine as the biggest of its kind on record. Apologies with regards to consumer services have come from McDonald’s, Apple
and French retailer Carrefour in the past.
China’s core inflation rises by 1.4% in February
China’s core inflation rate rose by 1.4% in February from a year earlier, recovering from a more than five-year low and exceeding
most expectations. The consumer price inflation (CPI) data compares with a rise of 0.8% in January, which was the weakest
reading since November 2009.China’s new consumer inflation target is about 3%, down from 3.5% in 2014.The rise in inflation
for the period was attributed by officials to China’s Lunar New Year celebrations.
The official number could ease some deflation worries for the world’s second-largest economy, although analysts were
unconvinced the holiday period was a factor for the year-on-year rise.
China’s mega international payment system is ready, will launch this year
The China International Payment System (CIPS) is due to kick off this year, bringing the yuan a step closer to becoming a global
trading currency, as the new system will make payment transfers just as easy as in dollars and euro. The launch is expected in
September or October, depending on how tests go, a source told Reuters. Another person with direct knowledge of the matter
said the goal is to start the first phase before December, Reuters reported. “The CIPS is ready now and China has selected 20
banks to do the testing, among which 13 banks are Chinese banks and the rest are subsidiaries of foreign banks,” one of the
sources told the agency.
Nokia exit: Is China’s ‘golden age’ of foreign investment over?
Beijing — In the Yizhuang hi-tech industrial park in southeast Beijing, a gleaming seven-story glass and steel building that
houses Nokia’s mobile phone factory will close by the end of the month. Its sister plant in southern China is to suffer the same
fate as Nokia’s new owner, Microsoft, shifts jobs and investment to Vietnam. Nokia’s high-profile move is the latest sign that for
international companies, China is losing some of its luster after years of shining as the brightest star in global capital’s firmament.
“The ‘golden age’ for business in China is drawing to a close,” a recent report by the European Union Chamber of Commerce in
Twitter opens Hong Kong office for closer ties with Chinese businesses
Twitter, whose real-time micro-blogging service has been blocked in mainland China since 2009, is officially opening its office
in Hong Kong today. The move is a clear sign that the US social media giant has kept alive its ambitions for doing business in the
world’s number one economy. Both Twitter and Facebook have been blocked in China for the past six years. Beijing is wary of
Chinese denizens making use of Twitter and other social media tools to plan large-scale anti-government protests, such as the
2011 “Arab Spring” uprisings in the Middle East. Late last year, internet search giant Google had most of its products, including
Gmail and Google Hangouts, finally blocked in China after years of intermittent and disrupted service. In announcing the launch
of its Hong Kong branch, which will serve as the head office for the Greater China region, Twitter has emphasized its intention to
help Chinese businesses connect with overseas users, rather than enter the Chinese market itself.
在中国大陆，Twitter 是“不存在的网站”，但在那里依然有着广大的商机。今天， Twitter 开设了他们的香港办公室，
提升我们在亚太区的业绩。”Twitter 亚太区副总裁赛利什·劳（Shailesh Rao）在接受《南华早报》的采访时说。Twitter
的中国战略和 Facebook 的非常相似，两者是中国最著名的被封锁网站，不过就算当局解禁，他们也将面临本土服务如
微信和微博的强力阻击。 去年十月访问清华大学的时候，Facebook 首席执行官扎克伯格就说过”Facebook 已经入华了
China becomes second largest source of tourists to Sri Lanka
China outstripped Britain to become the second largest source of tourists to Sri Lanka, with tourist number growing by 85 percent
in February when compared with the previous year, latest data released here on Tuesday showed. Chinese tourist arrivals
expanded to 39,160 in 2015, compared to 21,098 in February 2014. Latest data released by the Sri Lanka Tourism Development
Board (SLTDB) showed Chinese arrivals comfortably outstripping British tourists of 28,622 in the same month. Overall the
month recorded 165,541 tourists arriving in the country compared to the 141,878 arrived in February 2014.”In the first two
months of this year 321,787 tourists visited the island, an increase of 11.6 percent compared to the same period in 2014,” the
SLTDB said. Chinese tourist arrivals to Sri Lanka kicked off the New Year positively growing by 8.9 percent in January. In the
first month of 2015 Chinese arrivals grew to 11,735 from 10,779 in January 2014. Chinese tourists to the tiny island in the Indian
Ocean have risen rapidly over the last two years with 2014 ending at an all- time high. In 2013 only 54,288 Chinese tourists
visited Sri Lanka but the numbers ballooned to 128,166 by the end of last year growing an impressive 136.1 percent, according