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June, 29, 2016

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Business > Asia > China
'Circuit breaker' closes China stocks for 1st time after 7% drop
Mainland Chinese authorities for the first time closed the Shanghai and Shenzhen stock exchanges early under a "circuit breaker" mechanism to curb volatility after shares fell 7 percent Monday, raising concern over their commitment to market openness.
 
China manufacturing worsened in December for 10th straight month
Mainland China's factory activity shrank further in December, a private survey showed Monday, the 10th consecutive month of contraction with the world's second-largest economy set to post its weakest growth in a quarter of a century.
 
Macau's gambling revenue ended 2015 with a whimper, falling for a second straight year as mainland China's corruption crackdown continued to keep high rollers from the Asian gaming hub.
 
Mainland China will combine two of its state-owned shipping giants, the companies said, the sector's second multi-billion-dollar merger in a month as the government pushes consolidation of its nationalized enterprises.
 
A troubled mainland Chinese company has found a novel excuse for continuing to delay publishing its annual results, telling investors that a thief stole all its financial records for the last four years.
 
China has agreed to finance a much-needed overhaul of the Malian stretch of the key railway line between Bamako and Dakar, the Malian transport ministry said on Monday.
 
The company handling licensing rights for the Wright Brothers trademark says two replicas of the brothers' airplanes and early equipment have been sold to museums in China.
 
Uber on Tuesday announced a partnership with a major Chinese automaker as the controversial ride-hailing service revved its efforts in the country.
 
Mainland leaders promise lower business costs
Mainland China leaders promised Monday to promote economic growth by cutting business costs and reducing surplus production capacity in some industries as they try to reverse an unexpectedly sharp downturn.
 
Mainland China's auto sales grew at this year's fastest rate in November as Chinese manufacturers took market share from global rivals, helped by the popularity of their lower-priced SUVs, an industry group reported Thursday.
 
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