Shares in mainland China and Hong Kong sink as the Beijing leadership walks away from growth of ‘around 5.5%’ for this year.
FINANCE
Gloom Returns to China Stocks With Worst Monthly Loss in a Year
Chinese stocks plunged Friday to cap a brutal month which marked the return of almost all the worries that have spooked investors for much of the past one year.Most Read from BloombergRockstar Games …
China extends tax exemption for electric cars, state media says
BEIJING (Reuters) – China will extend an exemption of purchase taxes on “new energy” vehicles as part of the measures to boost domestic consumption, state media said on Friday, following a cabinet …
China to launch pilot scheme for retirement savings as population ages
SHANGHAI: China will kick off a pilot scheme for long-term retirement deposits in November, part of efforts to meet rising demand for pension products from an ageing population, the government said on …
China Probes Officials, Repays More Depositors in Henan Bank Scandal
Authorities scrambling to contain the damage from a rural banking scandal in central China’s Henan province said on Friday that more depositors will be repaid, while three regulators were put under …
China probes officials, repays depositors in bank scam
Authorities in Anhui province’s Bengbu city issued a similar statement, saying they will start repaying clients at a bank there from the same date. Separately, the China Banking and Insurance …
China Mulls Seizing Builders’ Idle Land to Fund Frozen Projects
China is considering a plan to seize undeveloped land from distressed real estate companies, using it to help finance the completion of stalled housing projects that have sparked mortgage boycotts …
China’s Henan, Anhui provinces to make more repayments to rural bank scandal victims
BEIJING, July 29 (Reuters) – Financial authorities in China’s central Henan and eastern Anhui provinces … a new report from researcher Morningstar Inc, showed on Thursday. Finance Ex-JPMorgan …
China’s factory activity seen expanding at fastest pace in a year
China’s factory activity likely expanded at the fastest pace in a year in July, a Reuters poll showed on Friday, as production in COVID-hit manufacturing hubs resumed after emerging from lockdowns …
Smart money snaps up China stocks as market rebounds
Elite fund managers have been busy building new positions in Chinese companies as the country’s stock market rebounds from heavy falls.
China’s ‘Zero Covid’ Mess Is Infecting Asia’s Economies
China’s gross domestic product miss is dragging neighbors down, too. ADB just lowered its growth forecast for developing Asia to 4.6% from 5.2% this year largely thanks to slowing Chinese growth. Yet, …
Jack Ma escapes Beijing’s crosshairs by giving up his power
Jack Ma is taking a weeks-long tour in Europe after largely disappearing from public view for almost two years, adding to signs that China’s government is easing pressure on the entrepreneur as he …
China’s ‘common prosperity’ drive slashes pay and perks for investment bankers
HONG KONG, July 29 – China’s well-heeled financial dealmakers are getting a crash course in austerity with pay cuts and perks reined in, as their state-owned employ …