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July, 26, 2016

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Business > Asia > China
Mainland Chinese coal miners in strike over wages, potential layoffs
Thousands of miners in mainland China's coal-rich north have gone on strike over months of unpaid wages and fears that government calls to restructure their state-owned employer will lead to mass layoffs.
 
Mainland China's top transport official warned online taxi-hailing companies Monday over subsidies leading to "unfair" competition, as U.S. giant Uber and homegrown rival Didi spend billions in their battle for market share.
 
China's largest train manufacturer won a billion-dollar deal to supply Chicago with rolling stock, it announced Friday, as Beijing seeks to create high-tech firms capable of competing for lucrative contracts with foreign giants.
 
China's consumer inflation jumped to 2.3 percent in February, its highest in nearly two years, official data showed Thursday, in a positive sign for demand in the world's second-largest economy.
 
Tibet's governor praises Lhasa 2nd railway line plan
Tibet's governor said Monday that a second railway to the capital will help bring higher incomes and better infrastructure to mainland China's Himalayan region, despite concerns about potential harm to the region's fragile ecology and threats to its Buddhist cultural identity from Chinese migration.
 
'Hard landing' is impossible, says mainland's chief planning mandarin
Mainland China's top economic planning official on Sunday said it is impossible that the Chinese economy would have a "hard landing" -- or a sharp slowdown after a period of robust growth -- and offered assurances that it would continue to contribute to global growth, not hinder it.
 
China expected to cut growth target at legislature
Mainland Chinese leaders are expected to cut their growth target to allow more flexibility in overhauling their slowing, state-dominated economy when their legislature meets this week. But they are unlikely to unveil significant new reforms.
 
Ratings agency Moody's on Wednesday cut its outlook on China's sovereign bonds from stable to negative, warning of increasing government debt and further capital outflows and questioning Beijing's ability to implement economic reforms.
 
Mainland China's monthly box office surpassed North America's for the first time in February, which included the peak movie-going period of Chinese New Year.
 
China factories lose more momentum, surveys show
Mainland China's manufacturing lost momentum again last month, according to two surveys of factory activity released Tuesday that highlighted sluggish conditions in the world's second biggest economy.
 
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