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On for the week ending October 13
BMW Holds More Stock in BBA 446,773
BMW raised its holdings in BBA (BMW Brilliance Automotive, a joint company invested in by BMW and Brilliance China) from 50 percent to 75 percent at around US$4.1 billion.
Chinese Women’s Volleyball Team Defeats US 425,235
The Chinese women’s volleyball team got to the final six in the 2018 Volleyball Women’s World Championship after beating the US team 3-0 on October 10.
Former South Korean President Sentenced to 15 Years 359,876
On October 5, South Korea’s former president Lee Myung-bak was sentenced to 15 years in prison for corruption and bribery. Lee will appeal, according to his lawyer.
Jack Ma Back on Top of China Rich List 316,684
Jack Ma, founder of China’s biggest online shopping platform Alibaba, has regained his top spot on the annual Hurun 2018 China Rich List (China’s equivalent of the Forbes ranking).
PBOC Lowers RRR 305,707
The People’s Bank of China (PBOC) announced on October 7 a further one percent cut in the reserve requirement ratio for commercial banks to enable more liquidity to repay loans from the PBOC.