China pledged to step up support measures for trade in services as the world's second-largest economy tries to shift its economic growth model toward consumption and away from heavy reliance on investment and exports, senior officials said on Monday.
China's Baosteel Group Corp took a further step to secure raw material by bidding for iron ore miner Aquila Resources Ltd jointly with Australian freight operator Aurizon Holdings Ltd in a deal valued at A $1.4 billion ($1.3 billion).
Baosteel Group Corp will further diversify its shareholder structure to introduce investors and develop the company's e-commerce platform in response to its falling share value.
More than half of the listed real estate companies reported lackluster performances marked by shrinking year-on-year net profits in the first quarter, according to the Shanghai-based Wind Information Co Ltd.
Nexteer Automotive, a parts supplier, is benefiting from using a globalized management team, the company chairman said.
L Capital Asia, the private equity business sponsored by Moet Hennessy-Louis Vuitton SA (LVMH), has entered into an agreement to acquire a majority equity stake in Singapore-based Crystal Jade Culinary Holdings.
A slow recovery in traditional markets and low demand from emerging economies combined to drive down deals signed at the 115th China Import and Export Fair, the nation's largest trade event, the organizers said on Monday as the fair ended.
Bank deposits for money market funds like Alibaba Group Holding Ltd's Yu'ebao should be subject to the deposit-reserve requirements, a China central bank official said.
Hong Kong got fewer mainland visitors during the May Day holiday this year, and industry players say the special administrative region's luster was dimmed by recent protests held to stem such visits.
Far sooner than expected and predicted, it appears that China is on the verge of overtaking the United States as the world's largest economy. Organizations such as the International Monetary Fund and the World Bank have long forecast the inevitability of China's ascent to the top of the global economic ladder, but not until 2020 or even 2024.
Geographically, China is large. But historically and economically, it used to be small. Ever since the 1100s, the country has been heavily dependent on business activity in one or several small areas for maintaining an imperial government.
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