China to relocate 2m rural poor

China, fighting to stamp out poverty, will this year move more than two million of its poorest citizens from remote, inland regions to more developed areas, an official of the cabinet, or State Council, said on Tuesday.

The mass relocation of people is a strategy targeted at lifting 10 million citizens out of poverty by 2020, state news agency Xinhua has said.

 

Chinese are officially the highest spending tourists!

China Confidential, a Financial Times research service, estimates that total spending by Chinese travellers on outbound trips hit Rmb3.1tn ($498bn) in 2014. Spending by Chinese tourists is now greater than total spending on household consumption of around $436bn in Indonesia and $442bn in Turkey.

 

Starbucks goes big in China

Starbucks is betting big on China, where the java giant's business has the potential to grow past that of the United States, CEO Howard Schultz told CNBC.

Starbucks announced Thursday it would open its first international Starbucks Reserve Roastery & Tasting Room in Shanghai in 2017.

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