Shanghai Daily: Business

• Top city firms post revenue of US$980b
  Shanghai’s top 100 companies posted a total revenue exceeding 6.9 trillion yuan (US$980 billion) in 2018, up 810.3 billion yuan, or 13.3 percent, year on year.
• China’s one-year LPR cut to 4.25%
  The central bank yesterday cut the one-year loan prime rate to 4.25 percent, the first pricing after the country reformed the lending rate mechanism.
• Retail giant Costco cashing in
  Costco’s first China store opens in Minhang District next Tuesday, with the US membership-based retailer hoping to grab a share of the nation’s booming consumer market.
• Stocks slip as investors take profits
  Shanghai stocks ended slightly lower yesterday as investors took profits from earlier gains.
• Rebound seen in ride-hailing market
  China’s online ride-hailing market is expected to rebound in the next few years with modest growth as market players step up safety measures and improve services, an industrial report showed.