Tag "3"

China invites private investors to help build $318 billion of projects

China’s state planning agency on Monday released a list of more than 1,000 proposed projects totalling 1.97 trillion yuan ($317.75 billion) that it is inviting private investors to help fund, build and operate. The National Development and Reform Commission said the 1,043 projects, in sectors such as transport, water conservancy and public services, will be done as public-private partnerships (PPP). An NDRC statement on its website did not say whether

Alibaba's latest gambit in fighting fakes: foster local brands

Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source. In the coastal city of Putian, in Fujian province, Alibaba is working with 17 shoe manufacturers to cultivate home-grown brands online, revitalize a flagging industry and offer would-be counterfeiters an alternative source of livelihood.

Senator Warren calls for public hearings on bank waivers: FT

U.S. Senator Elizabeth Warren is calling for U.S. Department of Labor hearings on whether banks accused of rigging foreign exchange markets should be allowed to manage retirement accounts, the Financial Times reported on Sunday. Five of the world’s largest banks, including JPMorgan Chase & Co and Citigroup Inc, were fined some $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities