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October, 25, 2016

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The world will continue to rely heavily on developing nations, amid slowing momentum, to help keep the world economy growing, said Zhang Tao, a Chinese economic official who is the new deputy managing director of the International Monetary Fund.
Chinese groups eye bids for German LED maker
Two Chinese companies are considering bids for Osram Licht, the Munich-based manufacturer of lighting products and semiconductors, in the latest sign of the nation's growing interest in buying European technology groups, a report showed.
Post-makeover new looks savage old trade
There was a time when Beijing's Yashow shopping center was throbbing with the business of custom tailoring, popular among foreigners living in or visiting the capital. Not any more. The center's makeover has hit the business hard.
China's product quality watchdog said on Tuesday that Samsung Electronics Co Ltd's local unit will recall all 190,984 Galaxy Note 7 phones that it has sold in China.
A year back, when Yu Lida and three partners founded iOrder Shirts, an online maker of men's custom shirts, little did they imagine their business would expand to 36 cities in nine months with monthly sales touching 2,000 shirts.
Alibaba buys stake in Spielberg company
Chinese internet billionaire Jack Ma has bought a stake in cinema legend Steven Spielberg's company, they said, the latest tie-up between China and Hollywood as they seek to make movies for audiences in the Middle Kingdom and beyond.
Multiple building collapses in China kill at least 17
A series of multi-storey buildings built by local villagers and packed with migrant workers collapsed in China on Monday, killing at least 17 people, the government and reports said.
 > Other
China's central bank set the yuan's central parity rate weaker than 6.7 to the dollar for the first time in six years Monday, the first day of trading after it joined the IMF's "special drawing rights" reserve currency basket.
Chinese authorities unveiled plans Monday to let companies use debt-for-equity swaps to cut soaring debt levels that economists warn might hamper the country's already slowing growth.
A former Chinese provincial Communist Party boss has been sentenced to death with a two-year reprieve as part of the country's ongoing crackdown on corruption at all levels.
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