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May, 3, 2016

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Business > Asia > China
Mainland China's broadest bank by branch numbers has sold a one-sixth stake to strategic investors for more than 45 billion yuan (US$7 billion) ahead of an expected flotation, official media reported Wednesday.
 
The deputy chief of mainland China's top securities regulator has been fired, the mainland authorities said Wednesday, a month after he was put under investigation and as probes into the financial sector deepen.
 
China's foreign exchange reserves fell to their lowest level in nearly three years in November, official data showed Monday, with analysts blaming "record" capital outflow on expectations the yuan will depreciate.
 
Shenzhen remodels as design hub, new V&A museum
Known to the world as a city of knock-offs, Shenzhen is seeking to reinvent itself as a creative hub for mainland China's new economic vision with the opening of a huge design museum in partnership with the UK's Victoria and Albert Museum (V&A).
 
Mainland Chinese regulators announced a mechanism Friday to temporarily suspend stock trading in the event of wide price swings in the latest attempt to enforce stability in volatile markets.
 
Mainland Chinese manufacturing was at its weakest in more than three years in November despite stimulus measures to bolster the world's No. 2 economy while service industries improved, according to an official survey released Tuesday.
 
After enduring days of intense back pain that made it difficult for her to walk, Inner Mongolian native Chen Hailing decided that it was time to get a professional opinion from a doctor -- on her smartphone.
 
The International Monetary Fund's (IMF) decision to include the yuan in the Special Drawing Rights (SDR) basket will not directly increase the demand for yuan assets. Also, the implicit endorsement of the yuan as a reserve asset is unlikely to sway the decisions of global asset managers. Indeed, mainland China's market interventions this year in response to capital outflows and the bursting of the equity bubble provide strong reasons for them to steer well clear.
 
A 71-year-old mainland China journalist imprisoned on a state secrets conviction was released for medical reasons after pleading guilty during a closed-door appeal hearing, her lawyers and state media said.
 
The mainland Chinese economy has shown signs of sharp declines in 2015, and the trend is expected to continue in 2016, with the growth rate forecast at 6.6 percent, according to a report published by Renmin University of China Sunday.
 
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