Source: AFP   China’s premier on Monday cut its economic growth target to 7.5 per cent for 2012 as he opened a parliament session focused on growth, stability and military might ahead of a leadership change. Premier Wen Jiabao also said China must enhance the ability of its military to win “local wars”, as he...

Source: Reuters China’s big four state-backed banks will lend more to qualified property developers to boost entry-level housing supply, a statement in the central bank’s newspaper on Friday said, a signal that they are ready to ratchet up real estate lending. The four banks, which account for about 40 per cent of total loans in...

Source: Bloomberg   China’s February home prices posted the biggest decline in 19 months as the government pledged to maintain curbs on property, according to SouFun Holdings Ltd, the nation’s biggest real-estate website owner. Home prices dropped 0.3 per cent last month from January, according to SouFun, which began compiling the figures in July 2010...

Source: AFP China’s manufacturing activity expanded for the third straight month in February as export orders improved, official data showed Thursday, raising hopes the Asian giant was heading for a soft landing. The official purchasing managers’ index rose to 51 in February from 50.5 in January, with most sectors showing signs of improvement, the China...

Source: Bloomberg   China’s government plans to stop buying cars from Volkswagen AG’s Audi and other foreign brands, threatening to lock them out of an estimated US$13-billion segment of the world’s biggest vehicle market. All 412 models approved for purchase by state agencies this year will be limited to Chinese brands, according to a proposal...

Source: AFP China has reached a “turning point” in its economic development, with the pace of growth likely to nearly halve in the next two decades, according to World Bank and Chinese government researchers. The Asian giant must overhaul its economy to avoid a sudden slowdown in growth, such as scaling back its vast and...

Source: Reuters China will continue to improve its nascent credit appraisal system to help banks better evaluate risks and help cash-starved small firms get more loans, the central bank said on Friday. China set up a unified credit database for consumers in 2005, a key step towards building a modern credit culture that is crucial...

Source: AFP   China has called for greater use of rare earths for its own domestic manufacturing, as Beijing seeks to limit exports of the sought-after resources vital for everything from iPods to missiles. China is the world’s largest producer of rare earths ‒ 17 elements critical to manufacturing a range of high-tech products ‒...

Source: AFP China could face an economic crisis if it does not implement major reforms in the next 20 years, the Wall Street Journal said Thursday, citing a report by the World Bank and Chinese government researchers. The “China 2030” report ‒ to be released Monday ‒ warns economic growth is at risk of a...

Source: AFP   China’s manufacturing activity continued to contract in February as export orders weakened, HSBC said, in a further sign that the eurozone crisis and US weakness are hurting demand. HSBC’s preliminary purchasing managers’ index rose to 49.7, the highest level in four months, from a final reading of 48.8 in January, the British...

Source: Reuters China is willing to help Europe to solve its debt problem, a Chinese foreign ministry spokesman said Tuesday after the eurozone finance ministers sealed a EUR130-billion (US$172 billion) bailout for Greece. “We support the EU efforts in addressing the euro debt problem. We are always confident in the euro,” Hong Lei, China’s foreign...

Source: Bloomberg   China is seen making more cuts to banks’ reserve requirements to fuel lending and sustain economic growth as the housing market cools and Europe’s sovereign-debt crisis weighs on exports. The proportion of cash that lenders must set aside will fall half a percentage point from February 24, the central bank said February...