S&P Global green lighted to access China's credit rating market -- China has allowed S&P Global Inc. to enter its credit rating market, the central bank announced on January 28, as part of the country's latest efforts to open up its financial sector. The Operations Office of the People's Bank of China (PBOC) has registered the U.S. firm's Beijing-based wholly-owned subsidiary, while the National Association of Financial Market Institutional Investors has accepted the registration of the subsidiary to conduct bond rating business in the inter-bank bond market, according to a PBOC statement.
DCE approves HSBC China as first foreign depository bank -- Dalian Commodity Exchange (DCE) announced on January 29 that it had approved HSBC Bank (China) Company Limited as its designated futures guarantee depository bank, which is allowed to carry out overseas customer deposit management business, reported Shanghai Securities News. This is the first time that DCE has brought in foreign-funded banks as the futures guarantee depository bank. HSBC Bank (China) is also the 12th bank approved by the DCE to carry out overseas customer deposit management business.
BP opens its first branded gas station in Shandong -- British energy company BP opened its first branded station in Shandong, East China on January 29 through its new joint venture partnership with private oil refinery Shandong Dongming Petrochemical Group. This marks the start of a plan to add 1,000 new sites across China over the next five years. Opened in the Huaiyin district of Jinan city, the new site also will offer made-to-order Wild Bean Coffee delivered to the car, free WIFI and all the benefits linked to a multi-partner loyalty program with China Resources Networks, which covers over 6,000 merchants across the country, the company said. (Source: China Daily)
iPhone Q4 shipments plunge in China amid competition, patent battle -- Apple's iPhone shipments in China plunged 22 percent in the final quarter of 2018 as the U.S.-based tech giant struggles in the world's largest smartphone market. Market researcher Strategy Analytics released on January 24 a report on the smartphone shipment in China in the last quarter of 2018, saying Apple replaced Xiaomi and became the fourth largest smartphone maker in China with 10-percent market share. Nevertheless, iPhone shipments plunged 22 percent on a yearly basis, signifying its worst performance since early 2017.
European ski school opens Beijing academy -- Ecole du Ski Francais, a top ski school from Europe, has unveiled its academy in Beijing, adding one more choice for kids and adults in China to receive world-class, safe and quality courses starting this winter. Gino Andreetta, CEO of Club Med China, an international holiday firm and the partner of ESF in Beijing, said the Chinese snow market was one not to be missed. (Source: China Daily)
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