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September, 26, 2016

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Business > Asia > China
China is expected to announce plans to merge the country's top steelmakers this week, according to media reports, creating the world's second-largest manufacturer of the commodity, as markets struggle with a glut caused by Chinese overcapacity.
 
A key gauge of China's debt has reached its highest level on record, setting off alarm bells of imminent risk to the banking system, a Swiss banking watchdog reported.
 
China's rice, wheat and corn subsidies are in line with WTO rules, Beijing's commerce ministry said after Washington launched legal action against what it says are "unfair" trade incentives worth US$100 billion.
 
China vows to cut aluminum output, but producers plan growth
China's leaders are promising to rein in aluminum production that is flooding global markets and threatening jobs in the United States and Europe, but its producers have ambitious plans to expand.
 
China's industrial output and retail sales growth accelerated in August, government statistics showed Tuesday, with both of them exceeding expectations in encouraging signs for the world's second-largest economy.
 
China's porters struggle amid industry change
When Li Ming left the Chinese countryside and moved to the city to look for work more than 30 years ago, grueling manual jobs were plentiful.
 
Britain's May hopes to assure Chinese over nuclear plant
On her first visit to China as Britain's prime minister, Theresa May will try to reassure Beijing that she wants to strengthen ties despite her delay on a decision over whether to approve a Chinese-backed nuclear power plant in southwestern England.
 
China officially launched a new multibillion-dollar jet engine conglomerate with almost 100,000 employees at the weekend, as Beijing seeks to become an aerospace power and compete with the likes of Rolls Royce and General Electric.
 
The lack of business confidence among private companies has emerged as one of the most worrying trends for China's economy, the world's second largest.
 
Chinese oil giant Sinopec, Asia's biggest refiner, saw its first half net profits drop 21.6 percent, it said, hit by low oil prices.
 
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