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September, 27, 2016

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Business > Asia > China
The long-expected Shenzhen-Hong Kong Stock Connect is likely to be launched in the fourth quarter of 2016 as the southbound quota for the Shanghai-Hong Kong Stock Connect is running out, an expert forecasts.
 
Mainland China's foreign exchange reserves unexpectedly increased by US$13 billion last month, officials said Thursday, as pressure on its currency the yuan to depreciate apparently eased.
 
Chinese appliance giant Midea has secured majority control in German industrial robotics supplier Kuka, it said Thursday, with a multi-billion-euro offer that stoked controversy in Europe.
 
Shares in struggling West China Cement plunged more than 30 percent Monday after a much-needed merger deal with the country's largest cement-maker collapsed last week.
 
China manufacturing drops  sharply 4th straight month
Activity in Chinese factories suffered its sharpest deterioration for four months in June, figures showed Friday, as weak demand and industrial overcapacity weighed on the world's second-largest economy.
 
The cost of Chinese new homes rose at a slower rate in June from the previous month, figures showed Friday, as measures to tame prices in the world's second-largest economy took hold.
 
A deal for mainland China's largest cement maker to take over a major rival collapsed after failing to gain official approval, the company said Friday, in a blow to Beijing's pledges to tackle oversupply.
 
1st made-in-China jet on maiden commercial flight
The first regional jet produced in China's initiative to compete in the commercial aircraft market made its debut flight Tuesday carrying 70 passengers.
 
Two of China's biggest steelmakers are planning to merge, they said, as the industry faces a global glut that has hammered producers worldwide.
 
The mainland bond market, worth approximately 48 trillion yuan (US$7.3 trillion), is the third-largest in the world, behind the United States and Japan.
 
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