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May, 27, 2016

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Business > Asia > China
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.
 
Trading in yuan-denominated securities got underway on the Frankfurt stock exchange Wednesday, hailed as the first such market outside China.
 
Chinese investment in Africa fell by more than 40 percent year-on-year in the first half of 2015, officials said Tuesday, as the Asian giant's slowing growth dents its commodity demand.
 
Business leaders in the Asia-Pacific are losing confidence in their revenue prospects because of China's cooling economy and perceived higher risks in emerging markets, a survey released Monday showed.
 
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