China witnessed a surge in tourist numbers on Friday, the first day of the week-long Lunar New Year holiday, official data showed on Saturday.
Macro
China's major industrial firms ended their period of profit losses and reaped good returns in 2016 on the back of a construction boom, the National Bureau of Statistics (NBS) said Thursday.
Industry
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Combined profits of Chinese state-owned enterprises (SOEs) rose 1.7 percent year on year in 2016, a sharp contrast to the 6.7-percent drop in 2015, official data showed.
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China's welfare lottery sales topped 206.5 billion yuan (30.1 billion U.S. dollars) in 2016, an increase of 2.47 percent year on year.
Companies
The Ministry of Commerce (MOC) said on Friday that it will take the necessary steps to protect the legitimate rights of Chinese companies following anti-dumping measures taken by the European Union.
China Guodian Corp. (CGC), a leading electricity company, will cut its investment in thermal power projects to slash overcapacity and shift toward clean energy.
Ant Financial, e-commerce giant Alibaba's financial arm, announced late on Thursday that it has reached a deal to acquire U.S. money-transfer company MoneyGram for 880 million U.S. dollars.
