Despite R&D spending, China lags in innovation

China has seen the world's biggest growth in terms of research and development spending over the past year. But it still has a long way to go before its companies lead the world in innovation, a study has found.

Call for oil monopoly to be broken up

China should set up an independent company to operate the oil wholesale business and manage the supply to retailers, industry experts have suggested. That would break up the de facto monopoly of the three state-owned large oil companies, especially the two onshore oil giants, they say.

Corruption inquiry seen as boost to energy sector reform

China's top discipline watchdog said last month that authorities are investigating Jiang Jiemin, the former head of the State assets regulator.

Flag bearer for industrial revolution

China's largest private steel company, Shagang Group, plans to move away from steel as its primary business in as little as three years. The seismic shift being considered by the steel stalwart, unthinkable during the boom a decade ago, is the clearest indication to date of the mounting pressure traditional manufacturing sectors in China are facing to stay viable in a rapidly changing domestic and global market.

Turning a talent grove into a forest

Watch out Zhongguancun, here comes Zhangjiagang.

IN BRIEF (Page 18)

Quotable

"As long as China is determined to embrace the change, instead of being scared of it, it will succeed in transitioning the economy into a third industrial revolution."

Old man river rolls back to the roots

There is something of the river in the old man's voice when he sings, a slow and subtle strength, an undercurrent deep in the baritone that tugs at the heart and gently sets memory adrift.

Brands make their mark online

The Chinese Internet industry has been growing by leaps and bounds this year, with leading service providers seeing the value of their brands soar, Interbrand, the world's largest brand consulting firm, said on Oct 23.

FTZ predicted to give boost to luxury hotel industry

The launch of the China (Shanghai) Pilot Free Trade Zone is predicted to boost demand for luxury and business hotels in a city that is battling a slump in tourism.

The wonderful world of wax

British amusement venue operator Merlin Entertainments Group is strengthening its foothold in the Chinese market, with the opening of a new Madame Tussauds in Wuhan this October.

Agriculture expo brings rich yields

Eagles sculpted out of pumpkins glowed golden under the sunlight. Horses cut from taros and a giant pumpkin weighing at least 50 kilograms also surprised visitors to the 9th Kunming Pan-Asia Agricultural Expo, held from Oct 9 to 13.