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September, 25, 2016

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Business > Asia > China
Huge industrial overcapacity in mainland China will drag on both the mainland's and the region's growth this year, the Asian Development Bank said Wednesday, cutting its forecast for the world's second-largest economy.
 
The Guangdong Yixiang Folk Culture Co. has a license to print money -- thousands of look-alike U.S. dollars roll off its clattering presses every minute, intended as burnt offerings for the heavenly bank accounts of Chinese ancestors.
 
China's central bank fixed its currency exchange rate at a three-month high against the U.S. dollar on Friday as the greenback sank.
 
China renews vow to avoid 'hard landing' as congress ends
Mainland China's economy will not suffer a "hard landing," mainland executive chief Li Keqiang said Wednesday, stepping up Beijing's charm offensive to reassure investors that the mainland authorities can manage slowing growth.
 
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.
 
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