Source: Bloomberg China’s industrial output growth is likely to slow this quarter as the world economy cools and Europe’s debt crisis worsens, the Ministry of Industry and Information Technology said. “The global economy is slowing down, Europe’s sovereign debt crisis is deepening and the downside risks to the world economy are rising with international ...
Source: AFP China said Monday it has banned its airlines from complying with an EU scheme to impose charges on carbon emissions opposed by more than two dozen countries including India, Russia and the United States. Beijing has said repeatedly that it opposes the new European Union plan, which was imposed with effect from ...
Source: Bloomberg Property stocks listed in Shanghai fell the most of any industry group on China’s biggest exchange after the nation’s largest listed real estate developer posted a drop in January sales. The index tracking the shares of property companies listed in Shanghai fell as much as 2 per cent to 2,845.06 and was ...
Source: Bloomberg China’s economic expansion would be cut almost in half if Europe’s debt crisis worsens, a scenario that would warrant “significant” fiscal stimulus from the nation’s government, the International Monetary Fund said. Based on the IMF’s “downside” forecast for the global economy, China’s growth could drop by as much as 4 percentage points from ...
Source: Bloomberg China will limit mortgage loans for home purchases by foreigners to stem overseas investment in its property market as part of efforts to cool prices. The nation’s planning agency would not approve medium- and long-term foreign debt quotas for overseas banks in 2012, if they intend to use such borrowings to fund mortgages ...
Source: AFP State-owned PetroChina announced that it has agreed to take a 20-per cent stake in a Canadian shale gas project owned by Royal Dutch Shell. PetroChina, the listed unit of China’s largest oil producer, has signed a deal to buy a share of land and assets in Groundbirch, British Columbia, according to a ...
Source: Bloomberg China’s interest rate swaps fell for the first time this week on speculation a cash shortage will persuade policymakers to cut banks’ reserve-requirement ratios. The one-year rate reached the highest level in almost three months Wednesday as maturing reverse-repurchase contracts reduced the supply of funds. The People’s Bank of China added ...
Source: AFP China’s manufacturing activity improved in January despite weaker demand for exports, official figures showed Wednesday, raising hopes the world’s second-largest economy is heading for a soft landing. The official purchasing managers index (PMI) rose to 50.5 in January, up slightly from 50.3 in December, the China Federation of Logistics and Purchasing said in ...
Source: AFP China on Monday pledged to increase the use of the yuan in international trade and encourage foreign investment in Shanghai markets, as it seeks to build the city into a major global financial centre. The government has previously vowed to make Shanghai, home to China’s major stock and interbank markets, into its ...
Source: AFP China’s US$410-billion sovereign wealth fund announced Friday that it bought a stake in British utility company Thames Water, days after the Chancellor of the Exchequer George Osborne held talks in Beijing. China Investment Corporation (CIC) said in a statement it had acquired 8.68 per cent of the company ‒ the largest water ...
