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August, 26, 2016

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Business > Asia > China
China has built the world's fastest supercomputer using locally made microchips, a survey said Monday, the first time the country has taken the top spot without using U.S. technology.
 
Mainland China ordered at least 255 Shanghai-based industrial facilities, including part of a major oil refinery operated by Sinopec Corp, to shut for 14 days to reduce pollution ahead of the G-20 summit, according to an official document reviewed by Reuters.
 
China's total borrowings were more than double its gross domestic product (GDP) last year, a government economist said, warning that debt linkages between the state and industry could be "fatal" for the world's second largest economy.
 
Mainland China on Wednesday brushed off stock index firm MSCI's decision to exclude the country's A shares from its influential global equities index, saying that the gauge cannot be complete without the Chinese stocks.
 
China's unbranded goods are often better than the branded originals they imitate, founder of e-commerce giant Alibaba Jack Ma has said, posing an additional challenge to the battle against sales of counterfeits.
 
Car sales in China, the world's top auto market, increased at a faster pace in May than the previous month, an industry group reported Monday, despite continued woes in the country's economy.
 
The fall in producer prices eased further in May, data showed Thursday, fueling hopes a slowdown in the world's No. 2 economy is bottoming while stabilizing consumer inflation also gave authorities room for fresh stimulus.
 
China's imports decreased at their slowest pace in more than a year and a half in May, official data showed Wednesday, in a possible sign domestic demand in the world's second-largest economy may be recovering.
 
China said imports fell in May at their slowest pace for 19 months, fueling hopes of a pick-up in demand, but traders in Hong Kong and Shanghai gave a muted reaction Wednesday.
 
China promised Tuesday to rein in steel production flooding global markets and agreed to work with the U.S. in enforcing anti-nuclear sanctions against North Korea, but the two sides announced no progress on simmering disputes in the South China Sea as they ended high level talks.
 
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