Tag Archives: China

LONDON, April 11 (Xinhua) — Rating agency Fitch reaffirmed China’s foreign currency rating at A+ with a stable outlook on Wednesday. “Fitch expects more debt to migrate onto China’s sovereign balance sheet as the economy works through the aftermath of the credit surge of 2009-2011, primarily impacting the local currency rating, which remains on negative outlook,” Andrew Colquhoun, head of …

A stronger reading for a Chinese manufacturing gauge failed to end predictions for policy loosening as analysts described the gain as seasonal and a separate survey showed exporters struggling. A Purchasing Managers’ Index (CPMINDX) rose to a one-year high of 53.1 in March, China’s logistics federation and the National Bureau of Statistics said yesterday. The gauge has a pattern of rising each March. …

Sullivan & Cromwell has taken the lead counsel role in Chinese asset manager Cinda’s $1.6bn equity sale to four foreign investors, while Paul Weiss and Clifford Chance have assisted in Morgan Stanley Private Equity Asia’s $300m investment in Tianhe Chemicals Group. China Cinda Asset Management, created by the Chinese government in 1999 to handle non-performing loans at the country’s big …

SINGAPORE— Asian shares fell on Friday, growth-linked currencies such as the Australian dollar were shunned after data showing shrinking factory activity in China, and the euro zone heightened concerns about a slowdown in the global economy. Materials stocks such as miner BHP Billiton were prominent among the losers, but crude oil steadied after tumbling overnight and copper bounced off a …

(03-12) 03:41 PDT LONDON, United Kingdom (AP) — Markets were steady Monday ahead of a meeting of European finance ministers that is expected to pave the way for a second massive bailout for Greece that will prevent the debt-ridden country’s imminent bankruptcy. Ministers from the 17 countries that use the euro are meeting later and Greece will again be at …

(Reuters) – China is planning to extend renminbi loans to other major emerging BRIC countries, in another step toward the expansion of the yuan’s role in foreign exchange, the Financial Times reported on Wednesday. The China Development Bank (CDB) will sign a memorandum of understanding at a meeting with its BRICs counterparts – Russia, South Africa, Brazil and India – in New Delhi on …

China’s stocks fell for a third day, the longest losing streak in almost two months, on concern a global slowdown will hurt earnings. Jiangxi Copper Co. paced losses by raw materials producers after commodity prices slid the most this year. China Life Insurance Co. (601628) slipped to a two-month low after the nation’s biggest insurer said profit may have fallen as much as …

When it comes to the commodities market, if China says it even plans to sneeze, others get a cold. And commodity markets got a fever after Chinese Premier Wen Jiabao lowered the country’s growth target. Although prices recovered slightly on Wednesday after a fall on Tuesday, investors remain cautious that a slowdown of the Chinese economy will cut demand for …

China’s central government wrapped up the National Financial Work Conference which is held every five years. Not surprisingly, no significant reforms were announced as politicians are reluctant to push major reforms in the face of an uncertain global outlook and a domestic leadership change. Though the conference is meant for strategic long-term planning, the conference memo (based on Premier Wen’s …

BEIJING, March 5 (Xinhua) — China aims to create more than 9 million new jobs in towns and cities this year as part of the government’s efforts in bettering people’s well-being, Premier Wen Jiabao told the parliament’s annual session Monday. “Employment is of great importance to China’s development and the people’s well-being,” Wen said at the Fifth Session of the …