The Mackenzie unit of IGM Financial Inc. has agreed to pay the equivalent of $468-million to buy a 10-per-cent interest in China Asset Management Co., Ltd. The Winnipeg-based firm says the China AMC deal will…
FINANCE
China to increase fiscal spending, cut taxes in 2017: ministry
BEIJING China will appropriately increase fiscal spending in 2017 and continue with policies to reduce taxes and fees, the finance ministry said on Thursday after a meeting to set next year’s agenda. “Make fiscal policy…
IGM Financial investing $468 million for 10% stake on China Asset Management
WINNIPEG – The Mackenzie unit of IGM Financial Inc. (TSX:IGM) has agreed to pay the equivalent of $468 million to buy a 10 per cent interest in China Asset Management Co., Ltd. The Winnipeg-based firm…
What it means if Trump names China a currency manipulator
WASHINGTON (AP) — President-elect Donald Trump has vowed to name China a currency manipulator on his first day in the White House. There’s only one problem – it’s not true anymore. China, the world’s second-biggest…
Baby boom after China ends one-child rule
Now China is undergoing a minor baby boom … asking endless questions to decide if it was worth the risk of having another child at their age. “Due to financial reasons, most people don’t want…
China to keep fiscal support for supply-side reform
BEIJING — China will maintain fiscal support for supply-side structural reform next year, according to the Ministry of Finance (MOF) on Thursday. The MOF will help cutting industrial capacity, reducing the housing inventory, lowering leverage…
China's central bank denies yuan broke 7.0000/dollar on Dec. 28 – microblog
BEIJING China’s central bank on Wednesday rejected a media report that the yuan had weakened beyond the 7.0000 per dollar level in the onshore market on Dec. 28, calling the report “irresponsible”. The yuan traded…
China’s Currency Drops But Pressure Still Builds
What was notable about China’s currency in 2016 wasn’t that it had its worst … taking the currency on a round trip to levels last seen before the global financial crisis. But in the grand…
China Authorities Propose Tighter Rules on How Insurers Invest in Stock Market
Chinese authorities are proposing tighter rules governing how insurers invest in the stock market, in an effort to keep check on practices they believe put the country’s broader financial system at risk. Proposals released by…
China's cash-strapped LeEco in talks to gain $1.4 billion from investor
SHANGHAI/HONG KONG China’s cash-strapped LeEco said it is in talks to secure … but the announcement was seen as insufficient to dispel concern over the high-tech conglomerate’s financial health. Led by tycoon Jia Yueting, LeEco…
Platts China Oil Analytics – China Apparent Oil Demand Inched up 1% Year over Year in October
China’s apparent oil demand in October 2016 edged up by 1.1% from the same month last year to 11.12 million barrels per day (b/d), according to an analysis of Chinese government data by S&P Global…
Is China’s growing debt burden a crisis in the making?
(tmsnrt.rs/2hMAvzX) The story begins in 2009, when China launched a $600 billion economic stimulus program during the global financial crisis. It unleashed a wave of borrowing by state firms that is proving to be a…
China Hushen 300 index futures close higher Thursday
The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the contracts at 3,399 points. (This article…
