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August, 26, 2016

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Business > Asia > China
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.
 
In a step to shore up slowing economic growth, mainland China freed up more money for lending Monday by cutting the amount its banks are required to hold in reserve.
 
Mainland assures US no devaluation is coming
Mainland China's executive chief told visiting U.S. Treasury Secretary Jacob Lew on Monday the Chinese mainland is pressing ahead with painful reforms to shrink bloated coal and steel industries that are a drag on its slowing economy and ruled out devaluing its currency as a short-cut to boosting exports.
 
Move over, Apple and Samsung. The next big smartphone might be from little-known Chinese brands such as TCL and OPPO
 
6 held in Spain court probe into China's ICBC bank in Madrid
A Spanish judge has ruled that six executives of mainland China's state-owned ICBC bank in Madrid should be detained pending a judicial probe into suspected money laundering and tax fraud, a court statement said Saturday.
 
Mainland China's top securities regulator will step down following months of turmoil in Chinese stock markets that have battered faith in Beijing's economic management.
 
China auto sales rise again by more than 9  percent in January on strong SUV demand
New car sales in China rose by more than 9 percent last month as strong demand for SUVs offset a decline in sales of sedans, an industry group reported Friday.
 
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