Shanghai Daily: Business

• Fall in crude oil output narrows in May
  China’s crude oil output shed 1.6 percent year on year in May to 15.97 million tons, narrowed from a 2.3-percent drop in April, data from the National Bureau of Statistics showed.
• Volvo eyes 25% of recycled plastics in new models
  At least 25 percent of the plastics used in new Volvo car models from 2025 will be from recycled materials, the Chinese-owned company said yesterday in an anti-pollution plan praised by the United Nat
• Arrest of Audi chief linked to ‘dieselgate’
  Audi chief executive Rupert Stadler was arrested yesterday in connection with parent company Volkswagen’s “dieselgate” emissions cheating scandal, with prosecutors saying they feared he might try to destroy
• Google injects US$550m cash in JD.com
  GOOGLE said it will invest US$550 million in cash in e-commerce giant JD.com to build up its alliance in China’s booming e-commerce landscape. Google will get 27.1 million newly issued JD.com Class A
• Yuan set to play bigger global role in future
  FOREIGN exchange reserve managers have become more optimistic about the yuan and predict bigger global influence of the Chinese currency in the coming years, a private survey showed. Surveyed institutions