Chinese business news in brief


Statistics from the Shanghai welfare lottery centre show that last year, a millionaire was born every six days in the city through buying welfare lotteries.  

A total of 61 people have become millionaires overnight by winning lotteries, and 29 of them have won the 5 million yuan ($641,025) top prize. 

 

Companies with only one person in total are flourishing in Zhejiang Province. Over 10,000 such companies were registered last year with a total registered capital of above 30 billion yuan, the local Administration of Industry and Commerce says. 

The new corporate law, which came into effect since the beginning of 2006, allows one person to set up a limited company; the lowest registered capital is 100,000 yuan. 

Analysts said the one-person company has gained popularity among investors for its simple structure and flexible operating system. 

 

Chinese users spent 276.76 billion yuan on Internet services in 2006, almost 50% more than the previous year, as their number rose to 136 million by the end of 2006, according to the Internet Society of China. 

It says in its Internet Guide 2007 that Chinese users spent about 170 yuan a month on services such as Internet connection, online shopping and online games last year. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

US trade deficit jumps to record high in June on strong import growth
AirAsia nets RM240mil from Fly Leasing-Carlyle Aviation merger
Pavilion REIT doubles net profit in Q2 to RM20.4mil
Indonesia exits recession with 7% GDP growth in Q2, but virus clouds recovery
Comfort Gloves facilities in Taiping placed under EMCO�
MR DIY posts robust Q2 results despite Covid-19 curbs�
FBM KLCI closes in positive territory
China stocks fall as Beijing's crackdown fears hit sentiment
Nintendo profit falls as Switch sales fade
AmInvest takes top spots at annual fund management awards

Stories You'll Enjoy


Vouchers