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Tuesday, September 8, 2015
China on Monday lowered last year's growth figure, already the weakest in a quarter-century, days after worries about slowing expansion in the world's second-largest economy caused global stock market havoc.
China's foreign exchange reserves fell by a record US$93.9 billion last month, the government said Monday, as Beijing sold dollars to support its own currency following jitters over a sudden devaluation.
Mainland China's central bank governor and its market regulator have admitted that there were "bubbles" on the country's stock exchanges, after a spectacular rally was followed by a painful bust, but said the routs were coming to an end.
Saturday, September 5, 2015
China's stock rescue jolts companies, reform plans
Tonhe Electronics is a casualty of Beijing's frantic effort to stop a stock market bust. The maker of electrical equipment, part of a technology industry the ruling Communist Party wants to promote, hoped to raise 200 million yuan (US$32 million) from an initial public offering of stock to build a research and development center.
Mainland China's market regulator has fined three companies, including Alibaba-linked Hundsun, a combined 453 million yuan ($71 million) for conducting "illegal securities business," which has been blamed for volatility on the plunging markets.
Friday, September 4, 2015
World finance ministers and central bankers gather in Turkey this weekend to grapple with the fallout of slowing growth in mainland China, tanking emerging economies and panicked global stock markets.
Wednesday, September 2, 2015
Mainland Chinese manufacturing showed further signs of weakness in August, adding to evidence of an inexorable slowdown in the world's No. 2 economy despite recent government efforts to support growth.
Tuesday, September 1, 2015
China Construction Bank (CCB), one of the country's biggest state banks, said net profit for the first half of the year were flat, hit by rising bad loans.
Sunday, August 30, 2015
China on Saturday scrapped a two-decade limit on the percentage of funds banks can lend out relative to deposits, state media reported.
China's pension funds do not have the obligation to prop up or rescue the country's turbulent stock market, a top official said on Friday amid popular expectations for the funds to do so.
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