BEIJING (Reuters) – China will step up efforts to curb financial risks as it continues with reforms to make country’s interest rates and currency regime more market-driven, the central bank said on Monday. “We will further deepen key reforms, including those on market-oriented interest rates and the formation of its exchange-rate mechanism, to create...
BEIJING – China’s factory downturn worsened in June as a key activity index hit a seven-month low, data expected to raise expectations the central bank may seek more policy easing to revive the world’s second-largest economy. The official Chinese purchasing managers’ index fell to 50.2 in June after seasonal adjustments, the National Bureau of...
BEIJING (Reuters) – China kicked off the first major step in a political reshuffle ahead of a generational leadership change with the appointment on Tuesday of a new Communist Party boss for Beijing, the Chinese capital’s top official. Guo Jinlong, 64, the city’s mayor since 2008 and an ally of President Hu Jintao, replaces...
Hong Kong (CNN) — China is planning to ban shark fin soup from being served at official banquets, in a sign the country may be losing its taste for the expensive delicacy. According to Chinese media, the Government Office Administration of the State Council said the ban could take up to three years to...
The unexpected move by Guangzhou, China’s third largest city, to restrict car purchases by putting a cap on vehicle registrations, led to a selloff in auto stocks on Tuesday, with shares of Dongfeng Group and Great Wall Motor falling 6.4 percent and 3 percent, respectively. Guangzhou is the fourth city in China – after...
By Manuel Mogato and Stuart Grudgings MANILA (Reuters) – Philippine President Benigno Aquino said on Monday he may ask the United States to deploy spy planes over the South China Sea to help monitor the disputed waters, a move that could worsen tensions with its giant neighbour China. The two countries only recently stepped back...
